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

Wells Fargo's new CEO previously denied that the bank's sales culture had any problems

Yesterday, Wells Fargo CEO John Stumpf announced his "early retirement" from the scandal-haunted company, with the CEO seat being filled by former COO Tim Sloan. Read the rest

Wells Fargo CEO John Stumpf resigns

First he was flayed by Senator Elizabeth Warren, then Congress had a go, then everyone got to gnaw on the fact that he'd done some seriously criminal stuff, then it emerged that he'd been a party to the bank's frauds since at least 2008, then we learned that his $200B bonus would be subsidized by taxpayers, then we learned that he walked through one of the bank's notorious boiler rooms every day, then his board of directors clawed back a couple million. Read the rest

Wells Fargo whistleblower: once I complained, they started denying me bathroom breaks

Yesterday, I predicted that a lot of Wells Fargo whistleblowers were going to come forward, given how terribly Read the rest

Icelandic Supreme Court: all nine top bankers are guilty of market manipulation

All nine of the top Icelandic bankers from the Kaupþing market manipulation case have been found guilty by the country's Supreme Court, which reversed the district court that had acquitted two of the defendants last year. Read the rest

When "reputation management" becomes perjury, forgery and fraud against America's federal courts

If you want to get a piece of information removed from the internet, there are few tools more powerful that a court judgment saying that it is defamatory. A judgment like that will get Google to de-index the result and frighten most web-hosts into getting rid of it. So it follows that the sleaziest end of the "reputation management" industry has occupied itself with securing these court orders at high volumes and low costs. Read the rest

Whistleblower docs: Wells Fargo was opening fake accounts in 2005

Dennis Hambek was a Wells Fargo branch manager. In 2005, he found Wells Fargo employees creating fake accounts in their customers' names (in order to meeting the company's punishing sales quotas and avoid being blackballed across the industry). He sent a certified letter about the practice in 2006 to Carrie Tolstedt -- the bank exec who oversaw the fraud and retired weeks ahead of the scandal with a $125,000,000 bonus -- and held onto the receipts. Read the rest

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