IRS Fraud Victim Refunded Seized $107k – Minus Interest
A North Carolina convenience store owner whose entire savings were mistakenly seized by the US Internal Revenue Service (IRS) in July 2014 has finally won the right for the US$107,000 to be repaid to him. Following a series of legal proceedings costing the claimant, Lyndon McLellan of Fairmont, North Carolina, over US$20,000, the government finally announced it would “no longer pursue” the alleged fraudulent activity, known as structuring, which resulted in McLellan’s operating profits being taken from his bank account. “We’re thrilled that the government has recognized that what they were....
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Shady activities abound in the NFT market. Three NFTs were seized by British authorities as part of a tax fraud probe. In order to defraud the UK tax authority of £1.4 million ($1.9 million), the suspects allegedly employed 250 bogus firms, fictitious identities, prepaid phones, VPNs, and other measures to obscure themselves. UK Tax Authorities […]
The U.S. has sold about 500 bitcoins seized back in 2018 for about $19.2 million. This was reportedly the largest net forfeiture in the Northern District of Ohio’s history. Federal authorities in the U.S. state of Ohio have sold bitcoins seized back in 2018 in a fraud case. The seized bitcoins were sold for nearly $19.23 million, Acting U.S. Attorney Bridget M. Brennan announced Thursday. The coins seized during the investigation were initially valued at approximately $2.88 million. This was reportedly the largest net forfeiture in the Northern District of Ohio’s history. The....
The U.S. Justice Department has seized bitcoin stolen from an elderly man in a government imposter scam and will be returning the cryptocurrency to him. “The fraudsters deceived the victim into believing his personal information had been used to facilitate a drug trafficking and money laundering scheme,” detailed the DOJ. DOJ Returns Bitcoin Stolen From Elderly Victim The U.S. Department of Justice (DOJ) announced Tuesday “the successful forfeiture and return of stolen cryptocurrency to [an] elderly man victimized by government imposter scam.” The DOJ explained....
Article updated on August 20 at 18:46 BST. The US government seized over $2.9m from Mutum Sigillum LLC, a subsidiary of bitcoin exchange Mt. Gox, a court document has revealed. Published yesterday by GigaOM, the seizure warrant issued by the district court in Maryland details that the contents of a Dwolla account registered in the name of Mutum Sigillum LLC were to be seized. The warrant was issued on 14th May, however, it was only filed on 19th August by US magistrate judge Susan K. Gauvey. The inventory of property taken reads: "Contents of Dwolla account #812-649-1010 registered in the....
Do not be mistaken in thinking this global fraud ring was decentralized by any means. Global fraud rings are nothing new under the sun these days. With the rise of deep web activity, criminals have created platforms to communicate and collaborate on a global scale. Avalanche, one of the largest global fraud rings in the world, has now been dismantled. This is a major boon for law enforcement agencies, although the threat is far from over. The Avalanche global fraud ring has been a thorn in the side of police officials for quite some time now. This project serves as a distributed cloud....