FBI arrest the VW executive who stonewalled on the first Dieselgate reports for defrauding the US Government

Oliver Schmidt led Volkswagen regulatory compliance office from 2014 to Mar 2015, and it was he who issued statements dismissing the initial West Virginia University reports of cheating in the emissions control systems of the company's cars, lying to US regulators and insisting that the systems were merely buggy, and not deliberately designed to get around emissions testing; after the company admitted to the fraud, he appeared before the British Parliament and insisted that the fraud didn't violate EU law. Read the rest

Leaked doc shows Trump Treasury pick presided over the "widespread" theft of Americans' homes

Steve Mnuchin, Trump's pick for Secretary of Treasury, has a checkered past (he once foreclosed on a 90 year old customer who was $0.27 short on her mortgage payment) but a leaked memo from the California attorney general's Consumer Law Section reports that Mnuchin's leadership of Onewest Bank involved "widespread misconduct" in foreclosing on Californians, through which the bank was able to fraudulently confiscate their customers' homes. Read the rest

Bank fraud investigations assisted by bankers' emails saying 'Please don't talk about this illegal thing in email'

Morgan Stanley's pre-crisis fraudulent mortgage activity cost the firm $2.6B in federal fines, $550m in New York state fines, and $22.5M in Illiois state fines -- and part of the evidence against it is emails from high-ranking bankers telling their subordinates not to talk about the criminal stuff in email, because it could get them all in trouble. Read the rest

Trump's anti-education Education Secretary owes millions in election fraud fines

Betsy DeVos is the self-described neo-Calvinist and wife of the heir to the Amway fortune who's devoted her life to fighting against public education through a system of vouchers that allow for public funding of religious schools; in accord with the trumpian maxim of "a fox for every henhouse," she has been selected to serve as Trump's Education Secretary. Read the rest

Michigan Governor Rick Snyder's MIDAS program had a 93% error rate and falsely accused 20,000 workers of unemployment fraud

Under the cruel austerity of Michigan governor Rick Snyder -- whose policies led to the mass-poisonings of children in Flint -- any claims for unemployment insurance were vigorously investigated, with the state operating on the assumption that any worker who claimed a benefit was probably committing fraud. Read the rest

Wells Fargo just hit with another massive fraud scandal, but thankfully Donald Trump owes them a lot of money

Wells Fargo didn't merely open 2,000,000 fraudulent accounts and bill its customers for them; it also tricked its customers into signing up for insurance policies, at mass-scale. Read the rest

Insiders: America's largest chain of psych hospitals kidnaps people seeking care, drugs and holds them until they're out of insurance

Universal Health Services (UHS) is the largest chain of psychiatric facilities in the USA, with 2.5x more beds than its closest competitor, and dozens of whistleblowers from inside the company told a Buzzfeed reporter that they were pressured to find pretenses to lock up people who voluntarily presented for assessments, holding them against their will until their insurance ran out, with massive bonuses for executives who increased profits (and much smaller bonuses for execs who improved health outcomes for patients). Read the rest

Wells Fargo is successfully convincing judges that forged arbitration agreements are legally binding

When you sign up for a Wells Fargo account, you're required to sign an arbitration "agreement" giving up your right to sue the company, and requiring you to have your case heard by an arbitrator paid for by -- and dependent on -- Wells Fargo instead. Read the rest

Trump voter explains how she knows millions of illegal immigrants voted

This isn't a self-aware Trumpkin or media supplicant, or an internet anti-semite putting names in brackets. She's an American who voted for Donald Trump. She believes not only that millions of illegal immigrants voted, but that mainstream news media told her they did.

She's "glad you brought that up," but soon realizes it's not true. Then she blurs the numbers and places and sources until it doesn't matter whether it was ever true or not, so long as it feels like it might have been. Read the rest

Wells Fargo says that its customers gave up right to sue by having their signatures forged

Even though disgraced Wells Fargo CEO John Stumpf has left the building, his most outrageous legal theories live on: on Wednesday, the company filed a motion in a federal court in Utah seeking dismissal of a class action suit by the customers it defrauded -- the bank argues that since customers sign a binding arbitration "agreement" when they open new accounts, that the customers whose signatures were forged on fraudulent new accounts should be subject to this agreement and denied a day in court. Read the rest

Whaling: phishing for executives and celebrities

A fraudster's term of art, "whaling" refers to phishing attempts targeted at "C-level corporate executives, politicians and celebrities" -- it's a play on "phishing" (attacks that trick users into downloading dangerous files or visiting attack sites by impersonating known sources) and "whales" (a term of art from casinos, referring to high-stakes gamblers). Read the rest

Statcheck: a data-fakery algorithm that flagged 50,000 articles

Michèle B. Nuijten and co's statcheck program re-examines the datasets in peer-reviewed science and flags anomalies that are associated with fakery, from duplication of data to internal inconsistencies. Read the rest

Senate investigates Wells Fargo retaliations against whistleblowers

One after another, ex-Wells Fargo employees have come forward to reveal that when they blew the whistle of millions of frauds committed against the bank's customers, the bank's management fired them and blackballed them from the banking industry for life, by falsifying claims of wrongdoing on a semi-secret list of corrupt bankers that is consulted by the industry before they make new hires. Read the rest

Donald Trump weaponized fine-print to make it impossible to sue Wall Street for fraud

In 1993, Donald Trump won a lawsuit brought by his investors that alleged he had defrauded them by lying in a prospectus; his defense was that his "perfect prospectus" contained lies, but it also contained enough fine-print cautioning investors about the possibility of lies that it was their own fault that he cheated them. Incredibly, the judge (a pre-Supreme Court Samuel Alito!) bought this. Read the rest

Wells Fargo blackballed employees who refused to commit fraud, forcing them out of the industry forever

Earlier this month, Planet Money aired an interview with a Wells Fargo whistleblower who was fired for trying to alert the bank to the millions of criminal frauds being committed against its customers, and we learned that the whistleblower had been added to a confidential blacklist used by the finance industry, preventing her from ever getting work in the industry again. Read the rest

Better Business Bureau yanks Wells Fargo's accreditation

The scandal-haunted bank has been de-accredited by the Better Business Bureau, a punishment meted out to companies that violate the BBB Standards of Trust, which include "tell the truth," "build trust," "honor promises" and "embody integrity." (via Reddit) Read the rest

The pathogens of Wells Fargo's corruption fester in every large corporation

Despite the denials of its new CEO, Wells Fargo had a serious, widespread cultural problem that led it to commit at least 2,000,000 financial crimes. But the crimes and the culture are widespread across America's banks, and they spread further than that, because the system is rigged to reward financial crime. Read the rest

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