There's plenty of white collar crime in this world and Ponzi schemes are a large part of them. The Ponzi scheme originated with Charles Ponzi in 1919 who cheated the Postal Service via prepaid stamps.
Recently politician Melissa Howard was forced to drop out of the race for a seat in the Florida House after it was discovered that she had forged her diploma from Miami University.
A 28-year-old Miami Dade police officer is being brought up on charges for being part of a ring of students who stole more than a half a million dollars from the IRS by filing phony income tax returns. While a student at Miami-Dade College (MDC) in 2013, Ebony Nesbitt, was allegedly part of a group of students who used the names and Social Security numbers of over 600 taxpayers to receive thousands of dollars into their Higher One college bank accounts that were used for receiving financial aid and tuition-paying purposes.
A South Florida couple was arrested 200 miles from the Canadian border in Maine earlier this year, accused of a particular type of fraud that has affected many people in Miami and the South Florida area. While on vacation, the couple had enjoyed themselves by spending money on meals and shopping sprees to stores like Best Buy, Sears, and Walgreens. The only problem was that they were spending money that didn't belong to them. This South Florida couple was using stolen credit and debit cards that were cloned elsewhere in June 2016.
Usually when we think of identity theft, we think of stolen credit cards, social security numbers, and fake bank accounts. However, in this new age of social media, a stolen identity can also show up online in places like Twitter.
One Miami man won't be living in the luxurious homes he has been used to thanks to his part in a $20 million mortgage fraud that spanned from South Beach to Ft. Lauderdale. Now, he'll spend 15 years in prison and have five years of supervised release following his prison time. That comes out to roughly one year of federal corrections supervision for each million dollars of fraud.
White-collar crimes may not always be as obvious a crime as something like a murder or a robbery. Many times, these are crimes committed by people you would never expect to be involved in criminal activities. White-collar crimes often happen "on paper," and the prosecution needs to prove something as subjective as "intent" in order to prove that a crime was actually committed.
Money laundering has a long history as being a white-collar crime connected to various types of illegal activities such as the drug or sex trade, and any activities involving cross-border smuggling. In South Florida, we have heard many stories throughout our history of illegal drug money being laundered through legitimate businesses in the area. But what exactly does it mean to launder money? And what are the implications of a crime like money laundering?
White Collar Crime is a term that commonplace in news outlets across the globe. These criminal acts include such offenses as embezzlement, bribery, money laundering, racketeering, and other financial crimes related to financial or property gain. It can also include the avoidance of a loss of finances or property and other deceptive acts from businesses and government professionals.
In an odd case of fraud usually reserved for the silver screen, $3.6 million was stolen from a Miami Beach City Hall bank account over six months. The city named a couple of suspects that they believe may have been involved in the scandal; however, it is inconclusive as to who syphoned the money from the account. Though two longstanding employees resigned just after the discovery, they were not deemed suspects in the situation.