Fraud

The U.S. Securities and Exchange Commission (SEC) is dropping its civil-fraud case against crypto billionaire and World Liberty Financial investor Justin Sun.

The head of the body representing most police officers in England and Wales has been arrested on suspicion of fraud by abuse of position, weeks after he publicly called for stronger protections for whistleblowers.

Malaysia’s troubled anti-graft agency is probing a $280-million deal between the Malaysian government and British chip giant Arm Holdings, Agence France-Presse reported. 

A Brazilian Senate decision to strip bank- and tax-secrecy protections from President Luiz Inácio Lula da Silva’s son has intensified political pressure on the leftist leader as lawmakers investigate an alleged fraud scheme inside the national pension system.

The European Public Prosecutor’s Office (EPPO) is facing a sharp rise in suspected fraud linked to the EU’s pandemic recovery fund, with estimated losses tied to the program approaching €5 billion, Follow the Money reported, citing figures in the office’s annual report released Monday.

The messaging platform Telegram has become a hub for job scams and other forms of fraud, Revolut is warning.

A record mismatch in official trade statistics is complicating efforts to measure how far the U.S. and China have “decoupled,” according to Bloomberg, which cited an $112-billion gap between what Beijing said it exported to the United States and what U.S. Customs and Border Protection recorded as arriving.

A senior Treasury Department official is preparing to resign after privately raising objections to a White House-backed initiative aimed at alleged fraud tied to the Somali immigrant community in Minnesota.

Cyber-enabled fraud is rapidly expanding in scale and sophistication as criminals exploit digital platforms, instant payments, and virtual assets to move illicit proceeds across borders, an intergovernmental watchdog said on Tuesday.  

Ricardo Salinas Pliego, the Mexican billionaire behind Grupo Elektra, thought he’d done enough due diligence when he decided to invest $400 million in Bitcoin as the value of the cryptocurrency surged in the spring of 2021.