Article Highlights The Mob’s Involvement in Investment Fraud

Keeping your money safe from organized criminals is not as easy as you think.

A fascinating article in the National Post of Canada breaks down the type of investment fraud most often committed in each of the Canadian provinces. Some provinces are known for pump and dump schemes. Others are hotbeds of Ponzi schemes. What is really eye-opening about the article is the degree to which it exposes organized crime’s involvement in investment fraud. According to the article (which you should read in its entirety): (more…)

More Evidence that the Mob Loves Investment Scams

If the allegations against Mr. Guarino are true, he is only the tip of the mob-run investment fraud iceberg.

If you were a young mobster on the make, how would you show your bosses that you deserved a higher place in the organization?  By making them a lot of money.  You could do that by things like robbery, loan sharking, extorting “protection money,” or any of the many other kinds of crimes that rely upon intimidation.  While all of those crimes might bring in cash, they are soooo last century; they involve a high risk of incarceration because they require occasional violence.  If you bet your advancement on them you would watch many enterprising young mobsters leapfrog you in the organization. (more…)

Organized Crime and the Future of Securities Fraud

In 2003, the FBI issued a report that reads in part as follows:
The end of the cold war provided significant, unintended opportunities for organized crime groups and criminal enterprises in former communist countries to expand internationally to western Europe and beyond. Evidence that organized crime activity from these areas is expanding and will continue to expand to [...]

In 2003, the FBI issued a report that reads in part as follows:

The end of the cold war provided significant, unintended opportunities for organized crime groups and criminal enterprises in former communist countries to expand internationally to western Europe and beyond. Evidence that organized crime activity from these areas is expanding and will continue to expand to the United States is well-documented. Criminal groups from the Balkans, eastern and central Europe and the former Soviet Union are involved in all types of criminal activity in the United States, from drug trafficking and human trafficking to burglary and home invasion robbery rings, from money laundering and securities fraud to traditional organized crime gambling and extortion rackets.  

(more…)

 
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