archiveFraud

Federal prosecutors charged a San Francisco real estate investment manager with executing a Ponzi scheme that cost investors at least $46M.  Kenneth Mattson was scheduled for his first hearing Friday at the Phillip Burton Federal Building in San Francisco. Kenneth Mattson, the former CEO of LeFever Mattson, is charged with defrauding approximately 200 investors by selling fake ownership stakes into apartment properties that he partially owned. The scheme lasted from 2007 to 2024 before ultimately unraveling after he failed to find new investors.  “Mr. Mattson will now be held to...

Dave Williams  |  Capitol Beat News ServiceReal estate investor headed to prison in Atlanta fraud schemeBy Dave WilliamsBureau ChiefCapitol Beat News ServiceATLANTA - The head of a commercial real estate investment firm has been sentenced to 87 months in prison and ordered to pay $45 million in restitution in a fraud scheme involving the Atlanta Financial Center in Buckhead.Elchonon (Elie) Schwartz, 46, of New York City pleaded guilty in February to one count of wire fraud. Schwartz convinced more than 800 investors to send him $62.8 million, including $54 million...

MISSOULA, Mont. — Montana State Auditor James Brown is warning Montanans to stay cautious when investing in cryptocurrency or other digital currencies.Brown says his office received an uptick in complaints from residents who are victims of digital currency scams, which he says is due to the lack of regulations."We're going after folks that we believe are fraudulently harming Montanans. I would just tell Montanans before engaging in investment in these digital currencies to be very, very careful about what you're investing in and be sure that you're actually investing in...

Brits considering renting a home have been issued an urgent warning after cases of fraud surged last year, with one age group deemed particularly vulnerable.Cases of criminals duping people out of cash for fake rental properties have surged in the past year.One common scam offers access to properties that do not exist or that are not theirs to rent.Fraudsters typically use fake details and photos and offer prices well below the market rate.According to figures released by the Home Office that were taken from the National Fraud Intelligence Bureau (NFIB),...