Money, Wealth & Power—A Daily Look at the Financial World
The Minnesota food aid scandal has already been branded one of the largest pandemic-era frauds in the country, but the story is no longer just about stolen meals. Federal investigators now see the $250M scheme as a potential gateway for money to move overseas through informal channels, prompting the Treasury Department to examine whether extremists…
Government investigators created bogus Affordable Care Act customers and watched the money roll in, collecting $2,350 a month in subsidies on fake Obamacare accounts that were never supposed to exist. The findings land in the middle of a long‑running fight over “waste, fraud and abuse” in health programs, and they confirm what many policy hands…
The alleged diversion of roughly $250 million from a federal kids-meal program in Minnesota is more than a spectacular white-collar crime story. It is a case study in how emergency COVID money, weak oversight, and opportunistic middlemen can collide to leave real children hungry while adults cash in. As the “Feeding Our Future” scandal moves…
The National Basketball Association is confronting its most damaging integrity crisis in decades, as federal agents detail a sprawling game-fixing and gambling scheme they say siphoned roughly 7 million dollars through rigged bets and insider information. What began as whispers around unusual betting patterns has hardened into indictments that tie current and former players, a…
Federal investigators say they created fake Obamacare customers and watched as the government sent them an average of $2,350 a month in premium help, a vivid illustration of how easily the Affordable Care Act’s subsidy system can be gamed. The same watchdog is now warning that those test cases sit on top of a much…
The latest interception of a Venezuelan-linked supertanker bound for China has turned a simmering sanctions campaign into a full-blown maritime confrontation. The US Coast Guard again moved in international waters near Venezuela to halt a cargo of crude, extending President Donald Trump’s naval blockade on sanctioned oil shipments and drawing sharp protests from Caracas and…
Malaysia has delivered one of the most consequential corruption verdicts in its history, sending former prime minister Najib Razak to prison for 15 years over his role in the 1MDB financial scandal. The punishment deepens the downfall of a leader once seen as political royalty and signals that the country’s courts are prepared to confront…
Elon Musk’s satellite internet network has become the latest battleground in the global fight against industrial-scale online fraud. After months of pressure over how its technology was being abused, SpaceX has cut connectivity to more than 2,500 Starlink terminals that investigators say were powering a sprawling scam economy worth an estimated $7.5 billion and built…
A truckload of live lobster worth $400,000 vanished somewhere between a New England loading dock and a cluster of Midwest warehouse stores, turning a routine Costco delivery into a federal crime story. The missing seafood was supposed to be chilled, aerated, and stacked in crates for shoppers in Illinois and Minnesota, not quietly siphoned off…
The heirs of a reclusive software billionaire are facing a $750 million bill in what prosecutors have called the largest individual tax fraud case in United States history. The payment, tied to the estate of automotive software magnate Billionaire Robert Brockman, caps a sprawling fight over how aggressively the government can pursue hidden offshore fortunes….