May 24, 2013
A Camden man pleaded guilty Thursday to a scheme involving cashing checks stolen from curbside mail boxes in business industrial parks in Camden, Gloucester, and Burlington counties. Appearing before U.S. District Judge Jerome B. Simandle in federal court in Camden, Michael A. Ingalls, 35, of Camden, admitted to one count of conspiracy to commit bank fraud and one count of possessing stolen mail. Ingalls and Ibn Muhammad, 35, of Camden, a co-conspirator, would recruit helpers to cash the checks.
March 21, 2013 |
HERE'S A LOOK at some dumb criminals who have implicated themselves online: -An Indiana man, arrested on assault charges after a 2009 bar fight in New York, fled before his sentencing. But Chris Crego left plenty of cyber clues for cops to catch him: He posted his wanted poster on his Facebook page, along with his current hometown, employer and work hours. U.S. Marshals easily tracked him down, and police posted this thank-you note to Crego's Facebook page: "It was due to your diligence in keeping us informed that now you are under arrest.
March 15, 2013 |
The ringleader of a large fraud and identity theft ring, described by his victims as a "financial terrorist," was sentenced today in federal court to 12 years in prison. Lawrence Fudge, 47, of West Oak Lane, defrauded dozens of victims as he amassed more than $360,000 in cash and goods. According to prosecutors, Fudge employed a network of bank employees, check runners, and an insurance company employee. He used illegal drugs to entice some of the conspirators. In at least one case, he flashed a gun in ensure participation, according to prosecutors.
February 21, 2013 |
Who killed the banks? And why aren't they in prison? It's past three years since Wachovia, National City , and other giant lenders that made too many dumb loans to borrowers who couldn't pay were forced into oblivion in government-aided discount sales to new owners, destroying share values and hometown jobs. Last time banks failed on a big scale - back when George H.W. Bush was president - scores of bad-bank operators and lying business borrowers went to prison. That hasn't happened much under President Obama , whose administration prefers fines and wrist-slapping.
February 16, 2013 |
The family of the man who opened fire in a crowded Wilmington courthouse Monday killing two women and wounding two Capitol police officers says it "apologizes to the people of Delaware. " Members of the Matusiewicz family released a statement this morning, saying they too were "stunned" at the events. Thomas Matusiewicz, 68, took his own life after he shot his ex-daughter-in-law Christine Belford and her friend Laura "Beth" Mulford. Belford was in court for a child-support hearing.
February 8, 2013 |
The founder of several hedge funds, already serving 10 years in a German prison for defrauding investors of nearly $500 million, is now facing similar charges in Philadelphia. Helmut Kiener, 53, controlled a number of hedgefunds including K1 Global Limited, Oceanus, Mezzanine and K1 Invest. According to federal prosecutors, Kiener misappropriated $311 million in an elaborate Ponzi scheme that he used to pay for a luxurious lifestyle. Among Kiener's alleged victims: Bear Stearns which lost $82 million to Kiener for three years until the financial institution went belly up in 2008; Barclays Bank which lost $137 million and BNP Paribas which lost $13.4 million.
February 7, 2013 |
A PHILADELPHIA woman was among 13 people arrested Tuesday in what federal authorities call "one of the largest" credit-card-fraud schemes ever. Vernina Adams, 31, was pivotal to the fraud by supplying the ring of scammers with fake, pumped-up credit histories through her business, One Stop Credit Shop, the U.S. Attorney's Office said. Collectively, the ring of co-conspirators from New York, New Jersey and Pennsylvania allegedly stole at least $200 million through a network of fake companies, according to authorities.
December 11, 2012
A prominent Main Line developer pleaded guilty Monday to defrauding two banks to get $13 million, prosecutors said. Michael Pouls, 50, pleaded guilty to wire and bank fraud and false statements in a hearing before U.S. District Judge Paul Diamond, according to the office of U.S. Attorney Zane David Memeger. Pouls, whose opulent Gladwyne estate was once featured on MTV's Teen Cribs , had only $3,000 in accounts when he lied and created false statements in 2007 suggesting he had $28 million in a bid to get the loans from National Penn Bank and the former Wilmington Trust Bank.
December 11, 2012
A Main Line developer pleaded guilty Monday to defrauding two banks to get $13 million, prosecutors said. Michael Pouls, 50, pleaded guilty to wire and bank fraud and false statements in a hearing before U.S. District Judge Paul Diamond, according to the office of U.S. Attorney Zane David Memeger. Pouls had only $3,000 in bank accounts in 2007 when he created false statements suggesting he had $28 million. At the time, Pouls was seeking loans from National Penn Bank and Wilmington Trust Co. Diamond set his sentencing for March 11. - John P. Martin
October 20, 2012 |
A prominent Main Line developer was charged yesterday by the federal government in a fraud scheme in which he allegedly induced several local banks to lend him more than $13.3 million. Michael Pouls, 50, devised a scheme in May 2007 to obtain bank loans from National Penn Bank and the former Wilmington Trust Bank, federal prosecutors said. They said he faked statements showing he had $28.5 million in TD Ameritrade accounts to use as collateral for the loans while in reality he had $3,000.