Business

CashCall to Pay Restitution and $1 Million in Penalties and Costs

February 16, 2015
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CashCall, a heavily-advertised small-loan business entered a settlement with the California Department  of Business Oversight, the department announced on February 5, 2015.  The press release from the DBO, which can be found here, states that the lender will be required to provide restitution to California borrowers […]

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Real Estate Investors Plead Guilty to Bid Rigging and Fraud at Public Foreclosure Auctions

February 10, 2015
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Late last month, the DOJ issued a press release announcing guilty please of two Georgia men for bid rigging in real estate auctions.  According to court documents, Mohammad Adeel Yoonas and Kevin Shin and several co-conspirators worked together by not bidding against each other and, instead, designating […]

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Former Internet Technology Manager Sentenced to 3 Years

February 3, 2015
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Maxim Chukharev, a former IT manager for Liberty Reserve, was sentenced to three years last month, after pleading guilty at the end of last year to “conspiring to operate an unlicensed money transmitting business.”  The charge is one commonly brought against intermediary businesses used to money laundering by […]

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BOE Highlights Crackdown on Sales Suppression Software

January 13, 2015
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California’s Board of Equalization issued a Special Notice in the latter part of 2014 making it clear that they were interested in prosecuting sales suppression cases.  The relevant text of the BOE Special Notice is below:
What is sales suppression software?

Sales suppression software, often called “zappers […]

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