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Convicted of bilking investors, Nikola founder and Trump donor gets a presidential pardon
Trevor Milton, the founder of electric vehicle startup Nikola who was sentenced to prison last year for fraud, was pardoned by President Donald Trump, the White House confirmed Friday. The pardon of Milton, who was sentenced to four years in prison for exaggerating the potential of his technology, could wipe out hundreds of millions of […]
IRS crime fighting arm announces modernization program as financial crimes use more tech
WASHINGTON (AP) — As the nature of financial crime changes, with technology and AI increasingly used to perpetrate illegal acts, the IRS‘ crime fighting arm —IRS Criminal Investigation— is announcing a new program intended to improve how it interacts with financial institutions. Called Feedback in Response to Strategic Threat —or CI-FIRST— the program unveiled Friday is intended [...]
Paragon Systems fined $52M for alleged fraud
Herndon-based federal contractor Paragon Systems agreed Tuesday to pay $52 million to resolve allegations by the U.S. Department of Justice that Paragon used its own subsidiaries to fraudulently win small business set-aside contracts, violating the federal False Claims and Anti-Kickback acts. The company is one of the federal government’s largest providers of security, fire and […]
Bitcoin whale Michael Saylor accused of tax fraud
Tysons-based MicroStrategy Inc. Executive Chairman Michael Saylor is being sued by the city of Washington, D.C., which accuses Saylor of engaging in a fraudulent scheme to deprive the city of more than $25 million in income taxes while living in “a luxury penthouse on the Georgetown waterfront” and claiming to be a resident of Virginia […]
Va. AG hiring staff to target unemployment fraud
Virginia’s attorney general on Thursday announced he has signed an agreement with the Virginia Employment Commission to hire more staff dedicated to investigating and prosecuting fraudulent unemployment claims, a problem that has cost the state more than $100 million since 2020, a report estimates. According to Attorney General Jason Miyares’ spokeswoman, Victoria LaCivita, his office [...]
Ex-WMATA official sentenced in federal fraud case
A former assistant superintendent of Washington Metropolitan Area Transit Authority (WMATA) was sentenced Tuesday to 14 days of incarceration and two years of supervised release after conspiring with a former pro football player to defraud the transit authority of more than $300,000. In January, Kirby Smith pleaded guilty to violating federal law by supplementing his […]
SEC charges Herndon-based tech company, CEO with fraud
The Securities and Exchange Commission announced charges Thursday against Herndon-based Kelvin Boon LLC/Boon.Tech and its CEO, Rajesh Pavithran, for fraud and registration violations in connection with a $5 million initial coin offering of digital asset securities. Without admitting or denying the SEC‘s findings, Pavithran and his company agreed to settle the charges by consenting to [&helli[...]
Ex-CommuniClique CEO sentenced for money laundering, fraud
The founder and former CEO of Reston-based CommuniClique on Wednesday was sentenced to more than 12 years in prison in an Alexandria federal court for money laundering and fraud that caused losses of $25 million to investors, according to the U.S. Attorney’s Office for the Eastern District of Virginia. “Andrew B. Powers stole $25 million […]
