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Posts tagged "Fraud"

Former car dealer office manager pleads guilty to fraud

A woman who used to work as an office manager at a now-bankrupt Texas car dealer has admitted to obtaining floor plan funds by providing the Ford Motor Credit Company with false information. Floor plan is a form of credit auto dealers use to finance their inventories. Court papers reveal that the woman pleaded guilty in December to conspiracy to commit wire fraud. A dozen former employees of the dealer group have admitted to fraud and could be sentenced to five years in prison and ordered to pay restitution of more than $25 million.

Former pro football players accused of defrauding benefits plan

While National Football League players are often known to receive large salaries, some struggle with sustainable income after leaving active play. Ten former NFL players are facing criminal charges, accusing them of defrauding a health care program for former professional football players. The 10 men are charged with submitting false claims to the Gene Upshaw NFL Player Health Reimbursement Account Plan. This plan was created due to the 2006 NFL collective bargaining agreement. It provides reimbursement, free of tax liabilities, for out-of-pocket costs for medical expenses for former NFL players, their spouses and their dependents. Each player could claim up to $350,000 in expenses.

Texas man indicted over illegal music downloads

Federal prosecutors have indicted a 27-year-old Texas man on aggravated identity theft, wire fraud and computer intrusion charges in connection with the alleged illegal downloading of more than 50 gigabytes of released and unreleased music. The man was taken into custody on Nov. 25. The indictment was announced in a press release from the U.S. Attorney's Office for the Southern District of New York.

Company said to target retirees to sell fake gold investments

A press release from the Texas State Securities Board has alerted people to the allegedly fraudulent activity of the company Chase Metals, which operates Metals.com. The board issued an emergency cease-and-desist order against the company after it allegedly convinced an 80-year-old woman to transfer $850,000 in retirement savings to the company to purchase precious metals like gold and silver.

Defining wire fraud

Most in Houston never anticipate having to answer to accusations of fraud. However, the word itself is so broad in its application that actions that many might not consider to be fraudulent actually are. This may fly in the face of common assumptions about fraud, especially given that so many different types of this activity have been recognized. This seemingly implies a very specific type of action, yet in reality, all involve the same intent: to intentionally secure assets and property through deceitful means. All that differs between the different types is the venue. 

Fraud accusations leveled at former FEMA officials

People in Houston hear the word "fraud" and might immediately think that it only applies to cases where people have lied in order to deprive others of money or property. Yet in reality, oftentimes transactions that occur between professionals in the private and public sectors can often skirt the boundaries between legitimate and fraudulent. For example, there are often several bona fide cases where professionals are provided with benefits in exchange for assistance. Such assistance, however, can become unlawful if it affects fair competition or public welfare. As is the case with any criminal activity, the key issue underlying any accusation of fraud is intent. 

Is multi-level marketing a scam?

Not all multi-level marketing (MLM) ventures are fraudulent. Some do actually add value to a consumer's life and offer a good way for people to earn extra money in the comfort of their own homes. However, MLM can also be used for nefarious purposes, wherein a person takes money from consumers without living up to his or her end of the sales transactions. To protect yourself, The Balance recommends looking for the following red flags before getting involved in an MLM. 

Authorities allege over $1.3 billion stolen in Ponzi scheme

In any case dealing with investments in Houston, the potential of sustaining losses is ever-present. Many may say that is simply the price one pays for delving into the investment market. Yet when people invest funds, they typically do so for a very specific purpose. That purpose is typically proposed by their investment brokers, and the exchange of monies only occurs under the condition that the funds be used for those specified goals. Any other use of the money could potentially constitute fraud on the part of the broker. 

The 1-2-3 of establishing fraud

Not every challenge you come across in a business deal is confined to your contract. The situation that leads up to you signing the contract is sometimes just as important legally as the document itself. At the Kruckemeyer Law Firm we often encounter confusion regarding this subject.

What are some home modification scams?

If you’re having a hard time keeping up with mortgage payments in Houston, you may be interested in a home modification loan. While these loans can help you lower your mortgage payments, you should also be aware of common frauds targeting individuals in a tough financial spot. The Federal Trade Commission explains different tactics and how you recognize a potential issue.

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