Florida officials concealed a $608 million federal funding request for an immigration detention facility nicknamed ‘Alligator Alcatraz,’ misleading courts about federal involvement to bypass environmental safeguards and legal challenges. The DeSantis administration’s secrecy …
On October 16, 2024, defense contractor RTX (formerly Raytheon) agreed to pay over $950 million to resolve Justice Department investigations into fraudulent billing schemes, foreign bribery, and export control violations spanning more than a decade. The settlement addressed three major criminal …
RaytheonDepartment of JusticeQatarDepartment of DefenseGreg Hayesraytheonfraudbriberypentagonqatar+3 more
Soccer superstar Kylian Mbappé’s official X (Twitter) account was compromised in a sophisticated phishing attack to promote a fraudulent $MBAPPE token on the Solana blockchain. The scam saw the token’s market cap rapidly surge to $464 million before crashing to less than $100,000 within …
Kylian MbappéUnknown HackersSahil Aroracryptopump-and-dumpcelebritysocial-mediaphishing+2 more
Binance Holdings Limited, the world’s largest cryptocurrency exchange, pleaded guilty to conspiracy to violate the Bank Secrecy Act, failure to register as a money transmitting business, and violating the International Emergency Economic Powers Act in the largest corporate criminal penalty in …
Changpeng ZhaoBinanceDepartment of JusticeMerrick GarlandLisa Monaco+5 morecryptoregulatory-capturemoney-launderingfraudsanctions-violations+4 more
A federal jury convicts Sam Bankman-Fried on all seven criminal counts including wire fraud, conspiracy to commit fraud, and conspiracy to commit money laundering in what federal prosecutors describe as ‘one of the biggest financial frauds in American history.’ The conviction follows a …
Sam Bankman-FriedFTXAlameda ResearchU.S. Department of JusticeCaroline Ellison+1 morecorruptionfraudregulatory-capturetechcryptocurrency+3 more
Rick Singer, mastermind of the $25 million Varsity Blues college admissions fraud scheme, received 3.5 years in prison despite prosecutors requesting 6 years. Singer pleaded guilty in March 2019 to racketeering conspiracy, money laundering, conspiracy to defraud the US, and obstruction of justice. …
Rick SingerFederal Prosecutorsfraudcorruptioneducationinstitutional-captureminimal-accountability
Sam Bankman-Fried is arrested in the Bahamas at the request of U.S. prosecutors and charged with eight criminal counts including wire fraud, securities fraud, commodities fraud, money laundering, and campaign finance law violations. The indictment alleges Bankman-Fried orchestrated a scheme to …
Sam Bankman-FriedFTXU.S. Department of JusticeSecurities and Exchange Commission (SEC)CFTC+1 morecorruptionfraudregulatory-capturetechcryptocurrency+3 more
U.S. District Judge Edward Davila sentences Theranos founder Elizabeth Holmes to 135 months (11 years, 3 months) in federal prison plus three years supervised release for defrauding investors of over $140 million. Holmes is ordered to surrender on April 27, 2023 to begin serving her sentence. …
Elizabeth HolmesEdward DavilaU.S. Department of JusticeTheranosFDA+1 morecorruptionfraudregulatory-capturetechhealthcare+3 more
FTX cryptocurrency exchange, Alameda Research, and over 100 affiliated entities file for bankruptcy following the exposure of systematic fraud by founder Sam Bankman-Fried. The collapse was triggered on November 2 when CoinDesk revealed that Alameda Research—FTX’s affiliated trading firm owned …
Sam Bankman-FriedFTXAlameda ResearchChangpeng ZhaoBinance+2 morecorruptionfraudregulatory-capturetechcryptocurrency+3 more
A court in the British Virgin Islands ordered the liquidation of Three Arrows Capital (3AC), a Singapore-based cryptocurrency hedge fund that managed $10 billion in assets just months earlier, after the firm lost over $3 billion and defaulted on hundreds of millions in loans to crypto lenders. …
Three Arrows CapitalKyle DaviesSu ZhuMonetary Authority of SingaporeDubai Financial Services Authority+4 morecryptoregulatory-capturefraudhedge-fund-collapsesystemic-risk+3 more
House January 6th Committee’s second hearing revealed Trump raised $250 million post-election through fraudulent “Official Election Defense Fund” that never existed. Committee found Trump’s team sent up to 25 fraudulent fundraising emails daily, raising $100 million in first …
Donald TrumpTrump CampaignSave America PACHouse January 6th CommitteeZoe Lofgren+1 morefraudcampaign-financekleptocracyjanuary-6-committeebig-lie+2 more
Terraform Labs, led by Do Kwon, temporarily halted the Terra blockchain on May 13, 2022, after a catastrophic four-day collapse that wiped out nearly $45 billion in market capitalization and devastated hundreds of thousands of retail investors globally. LUNA, which traded at $119 in April and $87 on …
Do KwonTerraform LabsSecurities and Exchange Commission (SEC)CFTCPaul Engelmayer+2 morecryptoregulatory-capturefraudstablecoinsystemic-risk+4 more
TerraUSD (UST), the fourth-largest stablecoin with $18 billion market capitalization, began losing its dollar peg on May 7-9, 2022, triggering a catastrophic “death spiral” that would destroy $40 billion in value within days and crash the broader crypto market. The algorithmic …
Do KwonTerraform LabsSecurities and Exchange Commission (SEC)CFTCJanet Yellen+3 morecryptoregulatory-capturefraudstablecoinsystemic-risk+3 more
A bipartisan coalition of 39 state attorneys general announced a $1.85 billion settlement with Navient Corporation on January 13, 2022, resolving allegations that the student loan servicing giant engaged in systematic fraud by steering struggling borrowers into costly long-term forbearances instead …
A federal jury convicts Theranos founder Elizabeth Holmes on one count of conspiracy to commit investor fraud and three counts of wire fraud involving over $140 million in investments. The conviction follows a nearly four-month trial where prosecutors presented testimony from 29 witnesses …
Elizabeth HolmesTheranosU.S. Department of JusticeSecurities and Exchange Commission (SEC)FDAcorruptionfraudregulatory-capturetechhealthcare+3 more
The Commodity Futures Trading Commission ordered Tether Holdings Limited to pay a $41 million civil penalty for making untrue and misleading statements about the reserves backing its USDT stablecoin, the world’s largest stablecoin with over $69 billion in circulation. The CFTC found that from …
Tether Holdings LimitedCFTCDawn StumpBitfinexSecurities and Exchange Commission (SEC)cryptoregulatory-capturefraudstablecoinsystemic-risk+3 more
U.S. Attorney’s Office for the Southern District of New York and the SEC simultaneously charge Nikola Corporation founder Trevor Milton with securities and wire fraud for systematically deceiving investors about the company’s hydrogen truck technology. Milton made false claims that a …
Trevor MiltonNikola CorporationSecurities and Exchange Commission (SEC)DOJHindenburg Research+2 morefraudspac-erasecurities-fraudregulatory-gapssec+2 more
In his final hours as president, Donald Trump issued 73 pardons and 70 commutations—143 acts of clemency in a single day, overwhelming the typical pardon process and demonstrating systematic corruption of executive power. The pardons went almost exclusively to political allies, campaign donors, and …
Donald TrumpSteve BannonElliott BroidyKen KursonPaul Manafort+2 morepardonscorruptionabuse-of-powerfraudpay-to-play
German payments processor Wirecard files for insolvency after admitting €1.9 billion in cash—roughly 25% of its assets—probably never existed, marking the largest accounting fraud in German post-war history. The collapse exposes catastrophic failures by auditor Ernst & Young (EY), which signed …
WirecardMarkus BraunJan MarsalekEYBaFin+3 morefraudregulatory-captureaudit-failurecorporate-governanceeconomic-nationalism+2 more
The Paycheck Protection Program launched with $800 billion in forgivable loans to support small businesses during COVID-19, but rushed implementation with minimal verification created “the biggest fraud in a generation.” SBA Inspector General estimates $200+ billion in fraudulent loans - …
Small Business AdministrationTreasury DepartmentCongressfraudcorruptionsystematic-corruptionregulatory-failurewealth-inequality
Boeing released hundreds of internal messages to Congressional investigators and the FAA on January 9, 2020, revealing that employees knew the 737 MAX was unsafe, mocked regulators, and conspired to deceive certification authorities. In one April 2017 exchange, just before the aircraft’s first …
Boeing employeesFederal Aviation AdministrationDepartment of JusticeHouse Transportation CommitteeSenator Richard Blumenthalboeing737-maxinternal-communicationsregulatory-capturefraud+1 more
WeWork formally withdraws its S-1 filing and postpones its IPO after investor scrutiny reveals catastrophic governance failures and self-dealing by CEO Adam Neumann. The company’s valuation collapses from $47 billion (January 2019) to under $10 billion in months. The SEC investigation reveals …
Adam NeumannWeWorkSecurities and Exchange Commission (SEC)SoftBankJohn White+1 morefraudregulatory-capturecorporate-governancesecrevolving-door+2 more
Federal prosecutors unveiled Operation Varsity Blues, the largest college admissions fraud case ever prosecuted, charging 50 people including wealthy parents and university coaches. Mastermind Rick Singer ran a $25 million bribery scheme (2011-2018) through his firm The Key, facilitating fraudulent …
Rick SingerLori LoughlinFelicity HuffmanU.S. Attorney Andrew LellingFBIfraudcorruptioneducationinstitutional-capturewealth-inequality
Northrop Grumman Systems Corporation agreed to pay $5.2 million to resolve False Claims Act allegations that it fraudulently billed the United States Postal Service for personnel who lacked the required education and experience qualifications specified in their contract labor categories. The …
Northrop GrummanDepartment of JusticeU.S. Postal ServiceUSPS Office of Inspector Generaldefense contractorsfraudfalse claims actcontractor abuseaccountability+1 more
Dream Center Education Holdings (DCEH), a California-based religious nonprofit with no prior experience operating colleges, entered receivership on January 18, 2019, less than two years after acquiring the Art Institutes, Argosy University, South University, and Western State College of Law from the …
Dream Center Education HoldingsArt InstitutesArgosy UniversitySouth UniversityWestern State College of Law+4 morefor-profit-educationnonprofit-conversionfraudcollege-closurestudent-aid-theft+2 more
The University of Phoenix’s enrollment collapsed from a peak of 470,000 students in 2010 to approximately 95,000 by fall 2018—an 80% decline—as federal and state investigations exposed systematic fraud including deceptive advertising that falsely promised job opportunities with major companies …
University of PhoenixApollo Education GroupFederal Trade Commissionfor-profit-collegesfraudstudent-debtuniversity-of-phoenix
Northrop Grumman Systems Corporation agreed to pay $31.65 million to settle civil and criminal charges for systematically defrauding the U.S. Air Force by overbilling labor hours on battlefield communications contracts between January 2011 and October 2013. The settlement included $27.45 million for …
Northrop GrummanDepartment of JusticeU.S. Air ForceDefense Criminal Investigative ServiceFBI+1 moredefense contractorsfraudmilitary-industrial complexfalse claims actpentagon contracts+2 more
U.S. District Judge Gonzalo Curiel issued a final order on April 10, 2018 concluding the Trump University litigation and authorizing distribution of the $25 million settlement to approximately 3,730 victims who would receive at least 90 percent of their money back. The finalization came more than a …
U.S. District Judge Gonzalo Curiel approved the $25 million Trump University settlement on March 31, 2017, clearing the way for approximately 3,730 victims to receive refunds of at least 90 percent of the money they spent on Trump University courses. The approval came four months after Trump agreed …
In 2017, Google’s secret “Project Bernanke” was in full operation—a systematic auction manipulation scheme that used insider information and algorithmic deception to advantage Google’s own ad-buying platform while harming both publishers and competing advertisers. The …
GoogleTexas Attorney General Ken PaxtonPublishersAdvertisersGoogle Ads platformgooglead-techauction-manipulationproject-bernankefraud+2 more
Donald Trump agreed on November 18, 2016 to pay $25 million to settle all three Trump University fraud lawsuits—two class actions and the New York Attorney General civil suit—just 10 days after winning the presidential election and less than two weeks before the San Diego class action was scheduled …
Donald TrumpGonzalo CurielEric Schneidermantrump universityfraudsettlementconsumer protectionaccountability
ITT Technical Institute, one of the nation’s largest for-profit college chains operating more than 130 campuses across the United States, announced on September 6, 2016, that it would immediately cease operations and close all locations, stranding approximately 35,000 actively enrolled …
ITT Technical InstituteITT Educational ServicesKevin ModanyDaniel FitzpatrickU.S. Securities and Exchange Commission (SEC)+1 morefor-profit-educationfraudsecurities-fraudcollege-closurestudent-debt+2 more
Walgreens formally terminates its partnership with Theranos after discovering that 31,000 Walgreens customers had received voided test results from the blood-testing company’s faulty devices. The termination follows months of deteriorating relations after the October 2015 Wall Street Journal …
WalgreensTheranosElizabeth HolmesFDACMScorruptionfraudregulatory-capturetechhealthcare+3 more
Court documents and victim testimony released in June 2016 revealed the devastating human cost of Trump University’s fraudulent scheme, with students testifying they lost retirement savings, disability income, and home equity after being pressured into purchasing courses costing up to $35,000. …
Donald TrumpRonald SchnackenbergGeorge Hanustrump universityfraudconsumer protectionvictim testimonyelder abuse
U.S. District Judge Gonzalo Curiel ordered the unsealing of over 400 pages of Trump University documents on May 31, 2016, revealing internal sales “playbooks” that detailed aggressive, predatory tactics designed to extract maximum money from vulnerable consumers. The documents exposed …
Gonzalo CurielDonald TrumpRonald Schnackenbergtrump universityfraudconsumer protectioncourt documentssales tactics+1 more
The United States Department of Justice and attorneys general from 38 states and the District of Columbia reached a landmark $95.5 million settlement with Education Management Corporation (EDMC) on November 16, 2015, resolving allegations that the nation’s second-largest for-profit education …
Wall Street Journal reporter John Carreyrou publishes the first investigative article exposing Theranos’ fraudulent blood-testing technology, revealing that the company was using traditional blood testing machines instead of its proprietary ‘Edison’ devices and that test results …
John CarreyrouElizabeth HolmesTheranosWall Street JournalWalgreens+1 morecorruptionfraudregulatory-capturetechhealthcare+3 more
McKinsey tests its new anti-violence strategy in what the firm calls ‘Restart’ housing units at Rikers Island, implementing its centerpiece algorithm called the Housing Unit Balancer (HUB) designed to predict each inmate’s propensity for violence. By July 2015, eight Restart units …
McKinsey & CompanyNew York City Department of CorrectionGeorge Motchan Detention Centermckinseyprison-industrial-complexrikers-islandconsulting-scandaldata-manipulation+3 more
Northrop Grumman Corporation paid the United States $11.4 million to settle government claims that it violated a 2002 settlement agreement with the Defense Contract Management Agency by improperly charging federal contracts for deferred compensation awards to key executives, demonstrating how …
Northrop GrummanDepartment of JusticeDefense Contract Management AgencyDefense Contract Audit Agencydefense contractorsfraudfalse claims actexecutive compensationcontractor abuse+2 more
Corinthian Colleges Inc., one of the largest for-profit college chains in the United States operating Everest College, Heald College, and WyoTech brands, announced on April 26, 2015, that it would immediately cease operations at all remaining campuses, abruptly closing 28 ground locations and …
Corinthian CollegesEverest CollegeHeald CollegeWyoTechU.S. Department of Education+2 morefor-profit-educationfraudcollege-closurestudent-debtpredatory-lending+2 more
On February 3, 2015, the Department of Justice, 19 states, and the District of Columbia reached a $1.375 billion settlement with Standard & Poor’s (S&P) over allegations that the credit rating agency knowingly inflated ratings on risky mortgage-backed securities and collateralized debt …
Standard & Poor'sMoody's Investors ServiceFitch RatingsDepartment of JusticeSecurities and Exchange Commission (SEC)financial-crisisregulatory-captureconflict-of-interestfraudaccountability-crisis+1 more
The U.S. Department of Education imposed a 21-day hold on all federal aid flowing to Corinthian Colleges on June 12, 2014, after the for-profit chain—operating as Everest College, WyoTech, and Heald College—refused to provide documentation substantiating falsified job placement rates. The action …
Department of EducationCorinthian CollegesArne Duncanfor-profit-collegesstudent-debtfraudcorinthian-colleges
New York Attorney General Eric Schneiderman filed a $40 million civil lawsuit against Donald Trump, The Trump Entrepreneur Initiative (formerly Trump University LLC), and Michael Sexton on August 24, 2013, alleging “persistent fraudulent, illegal and deceptive conduct.” Schneiderman …
Eric SchneidermanDonald TrumpMichael Sextontrump universityfraudconsumer protectionnew york attorney generaleric schneiderman+1 more
On July 30, 2012, the Senate Health, Education, Labor, and Pensions (HELP) Committee released the Harkin Report, a devastating two-year investigation documenting systematic fraud, abuse, and taxpayer exploitation in the for-profit college industry. The 2,000-page report, based on subpoenaed …
Senator Tom HarkinSenate HELP CommitteeUniversity of PhoenixCorinthian CollegesITT Tech+3 moreeducationfor-profit-collegesfraudstudent-debtregulatory-failure+1 more
A Government Accountability Office investigation released on August 4, 2010, exposed systemic fraud and deceptive practices across the for-profit college industry, revealing that while these institutions enrolled only 10-12% of all higher education students, they received 25% of all federal …
Government Accountability Office (GAO)Tom Harkinfor-profit-collegesstudent-debtfraudregulatory-capture
In June 2010, Trump University changed its name to “The Trump Entrepreneur Initiative” following sustained pressure from the New York State Education Department, which had repeatedly warned since 2005 that the organization was illegally using the term “university” without …
Donald TrumpMichael SextonJoseph Freytrump universityfraudeducation fraudnew yorkregulatory evasion
The Better Business Bureau issued Trump University a D- rating in 2010, the lowest rating the enterprise received during its active operations. The rating resulted from multiple consumer complaints the BBB received documenting deceptive practices, high-pressure sales tactics, and unfulfilled …
Donald TrumpMichael Sextontrump universityfraudconsumer protectionbetter business bureaueducation fraud
Investigation reveals major banks systematically falsified foreclosure documents through ‘robo-signing’, affecting 3.8 million homes. Employees at major lenders signed thousands of foreclosure affidavits without verifying information, creating a massive documentation fraud that …
Bank of AmericaJPMorgan ChaseWells FargoCitigroupGMACfinancial-crisisfraudforeclosure-abuseperjury
The University of Phoenix and its parent company Apollo Group agreed to pay $78.5 million on December 14, 2009, to resolve allegations that the nation’s largest for-profit university violated the False Claims Act by illegally paying recruiters based on the number of students they enrolled, …
University of PhoenixApollo GroupMary HendowJulie AlbertsonU.S. Department of Justice+1 morefor-profit-educationfraudfalse-claims-actstudent-loanswhistleblower+3 more
Northrop Grumman Corporation and its predecessor TRW Inc. agreed to pay $325 million to settle False Claims Act allegations that they provided and billed the National Reconnaissance Office for defective microelectronic parts used in classified spy satellites over a decade-long period from 1992 to …
Northrop GrummanTRW Inc.Department of JusticeNational Reconnaissance OfficeRobert Ferro+1 moredefense contractorsfraudfalse claims actwhistleblowersintelligence agencies+3 more