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WhiteCollarCrimeCaseStudies.com

The accountant and the Ponzi scheme

Case Summary: 

An accountant of retirement age pleaded guilty to running a Ponzi scheme that defrauded victims of a total of more than USD27.5 million.

Type of conduct: 
Ponzi / Pyramid fraud

Jail for financial adviser who misappropriated clients' funds

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Case Summary: 

A financial adviser recommended a form of investment to clients but instead of using the money in accordance with the agreed plan he used the money for his own purposes and created fictitious records to show purported performance of their investments. He has been sentenced to ten years' jail. Asset freezing orders against the defendant have preserved sufficient to cover all or most of the losses.

Type of conduct: 
Fiduciary fraud

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Jail for laundering proceeds of kidnapping

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Case Summary: 

A man convicted of conspiracy was sentenced to 18 months in federal prison for laundering the proceeds of a violent kidnapping organisation that held two dozen Mexican nationals hostage.

Type of conduct: 
Money Laundering

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Walnut Man sentenced to nearly four years in federal prison

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Case Summary: 

We couldn't pass on the chance to copy and paste the above headline from the USA's FBI media service. The case is about smuggling restricted goods in breach of US sanctions and not about edible nuts.

Type of conduct: 
Sanctions - Breaches

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Jail for "sophisticated corruption."

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Case Summary: 

An international conspiracy to bribe officials of a government in connection with a substantial contract has resulted in the conviction of a company and several senior staff and officers.

Type of conduct: 
Corruption

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Brazen pimpette convicted

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Case Summary: 

On the face of it, a conviction for trafficking minors for sex may not seem like a financial crime. However, the proceeds generated by these and other sex-related crimes are subject to attack under money laundering laws, even if the activity takes place in one jurisdiction and the money is laundered in another.

Type of conduct: 
Other financial crime

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Inside job: employee deliberately deleted data from company's computers

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Case Summary: 

A man who, as he saw it, was demoted exercised unauthorised access to computers at his workplace and deleted important files. Later, after he resigned, he again accessed the company's computers and deleted more files including back-ups held by an independent third party. As a final act, he deleted even more files with a single "wipe" command aimed at a PC at the company's head office.

Type of conduct: 
Computer crime

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Seimens and global corruption

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Case Summary: 

German company Seimens paid many bribes to officials all over the world to secure contracts with governments in a wide range of technology fields including telecommunications (in all its forms), rail and other transport and more. Brought before the US authorities in 2008, it paid what was then the largest ever penalty for payments made in breach of the Foreign Corrupt Practices Act.

Type of conduct: 
Corruption

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"Tax Defier" ran complex evasion schemes for almost 20 years

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Case Summary: 

The owner of an interior design company denied the right of the US government to charge income tax on his earnings. So he set about an elaborate scheme to evade taxes. He's been convicted and is due to be sentenced in November 2018. His schemes were both daring and extensive but the tax evaded over that period was a relatively small amount.

Type of conduct: 
Tax fraud / evasion

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Convictions for "phoenix" companies and fraudulent transfer of assets before insolvency proceedings

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Case Summary: 

In August 2018, two men were convicted of fraudulent dealings in the assets of a company with the intent to transfer them to a new company so as to continue in business after the old company went into liquidation.

Type of conduct: 
Insolvency offences

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