The hottest Fraud Substack posts right now

And their main takeaways
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Top Finance Topics

Problems at Sezzle (SEZL)

The Bear Cave • 443 implied HN points • 02 Jan 25
💰 Finance Payments Investments Banking Regulations Fraud
  1. Sezzle is a payment platform that allows customers to buy now and pay later, but there are concerns about its roles in facilitating fraud and illegal businesses.
  2. Some online pharmacies using Sezzle have been found to sell unapproved or counterfeit drugs, leading to consumer complaints about quality and delivery issues.
  3. Regulatory actions against companies like Google and past illegal activities show the serious risks and penalties involved in dealing with rogue online pharmacies.

Tucker and Ben Shapiro Pegged By Con Man Prostitute with Sham Story

Bulwark+ • 10141 implied HN points • 07 Sep 23
🇺🇸 U.S. Politics Scandal Media Conspiracy Legal Fraud
  1. A convicted fraudster made uncorroborated claims about Barack Obama involving crack and gay activities.
  2. The accuser's background includes a lengthy arrest record and a history of lying, casting doubt on the credibility of the claims.
  3. The claims lack corroborating evidence or witnesses, failing a lie detector test, making them flimsy and unreliable.

Fraud, Distortion, and Truth in Science

Sensible Medicine • 4540 implied HN points • 17 Jan 24
🔬 Science Fraud Truth
  1. Fraud in science is a serious problem, but the bigger issue is the lack of commitment to doing high-quality work.
  2. Many scientific conclusions lack truth and usefulness due to flawed methodologies and inadequate controls.
  3. The scientific field is filled with low credibility studies and a focus on personal gain rather than truth and welfare.

IMPACT: After HEALTH CARE un-covered’s Reporting, Medicare Profiteer Shuts Down

HEALTH CARE un-covered • 659 implied HN points • 17 Jun 24
🏥 Health Politics Health care Medicare Insurance Regulations Fraud
  1. A health insurance company known for misleading advertising has shut down after reports revealed their shady practices. This is good news for Medicare and its beneficiaries.
  2. The government made new rules to protect seniors from aggressive marketing tactics that this company used. These changes likely contributed to the company's downfall.
  3. Even though the company is gone, there's still a problem with how commissions are set up, which may still push seniors towards less beneficial Medicare plans.

A Billion-Dollar Fraud In Plain Sight

Where's Your Ed At • 10237 implied HN points • 01 Nov 23
💰 Finance Cryptocurrency Investment Fraud Bankruptcy Regulation
  1. Gemini's
  2. Earn
  3. program misled customers into investing in risky lender Genesis Capital.
  4. The NY Attorney General filed a significant fraud suit against Gemini, Genesis, and Digital Currency Group for misleading customers and covering up losses.
  5. The Winklevoss twins actively deceived customers, putting billions of dollars into an unstable lender and reaping profits while customers faced losses.
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Genapsys Lawsuit!

ASeq Newsletter • 21 implied HN points • 04 Feb 25
💼 Business Lawsuits Finance Fraud Biotech Investment
  1. A lawsuit is happening involving Genapsys, and it claims the company engaged in serious fraud. This includes manipulating scientific data and misleading investors about its technology and financial health.
  2. The lawsuit highlights issues within the biotech industry, where some companies might exaggerate their capabilities or results. This has made investors more cautious and skeptical of bold claims.
  3. Internal documents suggest the CEO directed employees to present false information during due diligence. This raises questions about trust and honesty in biotech business practices.

Dingus of the week: Anyone who bought Hawk Tuah girl’s memecoin

Men Yell at Me • 402 implied HN points • 13 Dec 24
🔮 Crypto Memecoins Investing Fraud Culture Digital Assets
  1. Memecoins are just digital coins that have no real value and are mostly a gamble. People are getting hurt financially by investing in them.
  2. Many young people feel disappointed by traditional paths like college and stable jobs, so they turn to risky internet ventures like memecoins in hopes of success.
  3. Trust in systems is declining as they seem to keep failing us. This creates a culture where people are tempted to follow questionable advice for quick gains.

"Anonymous" Crypto Debit Card Startup Sues BaaS Platform, Ex-Evolve Partner Solid

Fintech Business Weekly • 66 implied HN points • 15 Dec 24
💰 Finance Banking Investing Fintech Fraud Capital
  1. Fraud and scams are becoming bigger issues for businesses compared to individuals. Companies need better tools to protect themselves from these threats.
  2. Many fintech companies are raising significant funding, which shows growth in the industry. Some are also getting ready for potential IPOs in the coming years.
  3. There's a legal battle between a crypto debit card company and its banking partner. It highlights the risks and challenges in the fintech sector, especially in compliance and service delivery.

Fraud in Asia

Asian Century Stocks • 668 implied HN points • 24 Jan 24
💰 Finance Fraud Accounting Investments Financial Analysis
  1. Tan & Robinson's book on Asian financial statement analysis is a key resource for spotting fraud and misrepresentation in Asia.
  2. Watch out for companies with high margins, poor cash flows, fast-growing balance sheets, and complex corporate structures with frequent related party transactions.
  3. High-profile short-seller reports should be taken seriously when assessing potential fraud in companies.

The Greatest Crypto Heist You Never Heard of

DeFi Education • 739 implied HN points • 06 Sep 23
🔮 Crypto Fraud Technology Regulation Blockchain Economics
  1. Ruja Ignatova is the mastermind behind the OneCoin scam, which defrauded investors out of over $4 billion. She has been on the run from authorities since 2017 and was added to the FBI's most wanted list.
  2. The OneCoin scheme was not a real cryptocurrency and was designed to deceive thousands of investors. Ignatova and her co-conspirators manipulated the value of OneCoin and profited from the scam.
  3. Despite numerous arrests of her partners in crime, Ignatova remains elusive, and her whereabouts are still unknown. Investigators believe she might still be alive and living off the money she stole.

More Problems at B. Riley (RILY)

The Bear Cave • 653 implied HN points • 15 Feb 24
💰 Finance Investigation Stocks Auditing Fraud Regulatory issues
  1. The Bear Cave has raised concerns about B. Riley's ties and financial exposure to an accused fraudster, Brian Kahn, as well as regulatory and disclosure issues at the company.
  2. Short seller Marc Cohodes referred to B. Riley as the "biggest pound-for-pound financial fraud" he has seen.
  3. New evidence presented by The Bear Cave includes a potential departure of B. Riley's audit engagement partner, contradicting statements about a loan to Brian Kahn, and engagement of outside counsel by B. Riley's auditor in response to concerns.

A data-driven insight into German transfer fraud: 7.594 cases

Altay's Blog • 1 HN point • 30 Sep 24
💰 Finance Fraud Banking E-commerce Scams Data Analysis
  1. Many people in Germany lose money to transfer fraud each year because scammers trick them into thinking their payments are safe. They use methods like fake online shops to steal money without delivering any products.
  2. Scammers often use tricks to hide their identities, like opening bank accounts under fake names or recruiting unsuspecting people to help. These tactics make it hard for banks to catch them right away.
  3. There are rules called Know-Your-Customer (KYC) that banks must follow to verify customer identities. When these rules are not strong, it can lead to more fraud, but better KYC practices can help reduce these scams.

The Trial of Sam Bankman-Fried

DeFi Education • 519 implied HN points • 09 Oct 23
🔮 Crypto Blockchain Investing Fraud Regulation Financial Technology
  1. Sam Bankman-Fried's trial is focusing on accusations of fraud that led to big losses for FTX customers. It's important to pay attention to how the trial unfolds, especially the testimonies from key witnesses.
  2. People often trusted centralized exchanges like FTX instead of managing their own crypto safely. Understanding cognitive biases can help investors avoid making the same mistakes in the future.
  3. Investing in crypto without learning about it can lead to serious losses. Gaining knowledge and understanding the technology is key to making smart investments and avoiding scams.

FTX is Coming for Customer Assets

DeFi Education • 399 implied HN points • 13 Sep 23
🔮 Crypto Exchanges Bankruptcy Investments Regulations Fraud
  1. FTX filed for bankruptcy in November 2022, which affected many customers. It was a significant moment for the cryptocurrency world.
  2. A lot of money has been spent on legal fees since then, which reduces what could be given back to customers. This makes the situation worse for those who lost money.
  3. FTX recently released a lengthy presentation about their progress since filing for bankruptcy, likely to keep customers informed.

THE LADY WITH HYPNOTIC EYES

Reflections on "Going Down Tobacco Road" and Investing • 334 implied HN points • 06 Jun 23
💾 History Scandal Crime Fraud Prison
  1. Cassie Chadwick was a skilled con artist who defrauded people through various schemes and multiple identities.
  2. She managed to borrow large sums of money by claiming to be Andrew Carnegie's illegitimate daughter, forging promissory notes, and exploiting people's reluctance to question Carnegie.
  3. Her extravagant lifestyle and fraudulent activities eventually led to her downfall, imprisonment, and death at the age of 50.

Crazy Science Idea: Tell People Something Is Possible When You Actually Have No Clue

Atlas of Wonders and Monsters • 593 implied HN points • 03 Aug 23
🔬 Science Research Innovation Fraud Discovery Progress
  1. Sometimes telling people something is possible, even if you're unsure, can lead to faster progress in finding solutions.
  2. Encouraging the pursuit of crazy ideas, even if they may not be true, can spark innovation and breakthroughs.
  3. Distorting facts slightly to make crazy ideas seem less crazy could potentially inspire more discovery and creativity.

$200 Billion in Bank Scams

DeFi Education • 739 implied HN points • 20 Sep 22
🔮 Crypto DeFi Fraud Banking Regulation Market Manipulation
  1. The banking industry has a long history of fraud and scandals, with $200 billion in fines paid for various crimes like money laundering and market manipulation. This shows that big banks often get away with serious misconduct.
  2. Critics argue that crypto is a hotbed for crime, but it's clear that traditional banks have also facilitated illegal activities repeatedly without facing serious consequences. This double standard highlights the need for fair scrutiny of both systems.
  3. DeFi (decentralized finance) offers solutions to prevent manipulation and enhance transparency. Technologies like blockchain could potentially do a better job of reducing financial crimes compared to traditional banks.

We’re Not Curing Cancer Here, Guys

Common Sense with Bari Weiss • 204 implied HN points • 22 Feb 24
🏥 Health Politics Medical Research Fraud Data Transparency
  1. Transparency of raw data in medical research is crucial to uncovering fraud, as many papers only present summaries hiding potential malpractice.
  2. In medical research, the data presented in scientific papers is akin to a curated dating profile, showing only a portion of the actual work done.
  3. Calls for greater transparency, such as making all raw data available when publishing medical research, are crucial to combat fraud and encourage accountability in the field.

Lawfare or Rule of Law

David Friedman’s Substack • 179 implied HN points • 12 Mar 24
🇺🇸 U.S. Politics Law Elections Prosecution Fraud Defamation
  1. In our legal system, the idea of rule of law versus lawfare hinges on whether prosecution depends on the severity of crimes and quality of evidence or on personal agendas of law enforcers.
  2. Civil cases such as the one involving Trump being sued for inflated property values show how legal actions can have significant financial consequences, even without direct harm.
  3. Charges against Trump related to election interference bring up the debate of what actions should be considered criminal in the political realm and the potential threats to the democratic system.

YPF: the laundromat of the century

BowTiedMara - Geoarbitrage & Mobility Assets • 157 implied HN points • 02 Jun 23
🌍 World Politics Corruption Energy Lawsuit Fraud
  1. YPF, the national oil company of Argentina, was involved in a massive financial fraud through expropriation and private dealings.
  2. A small group of politicians and businessmen profited billions from YPF without investing their own money.
  3. Despite clear irregularities and financial loopholes, those involved in the scandal are unlikely to face prosecution or jail time for receiving billions at the taxpayer's expense.

Exposing the Fraudsters

The Radar • 39 implied HN points • 23 Apr 24
🇺🇸 U.S. Politics Fraud Corruption Government Media Economy
  1. Fraud has historically preceded major meltdowns, causing social unrest, economic collapses, and political instability.
  2. Fraud is widespread in everyday life, not just as criminal acts but in various forms of intentional misrepresentation.
  3. Dishonesty and fraud, both large and small, have become normalized in society, but individuals have the power to shift towards honesty and transparency to curb fraudulent behavior.

The human x-ray scientists

The Quack Doctor • 9 HN points • 12 Jul 24
💾 History Medicine Fraud Treatment Health Science
  1. Albert and William Grant claimed extraordinary abilities as 'Human X-Ray' scientists, including diagnosing diseases and growing new internal organs.
  2. Despite their claims, the brothers faced scrutiny and criticism after several deaths occurred under their unconventional treatments.
  3. The story sheds light on the desperation of patients seeking hope where traditional medicine offered little to no cure, showcasing the vulnerability and trust of those in the face of incurable diseases.

BREAKING: HBS professor placed on "administrative leave" following bombshell investigation into fake data

Karlstack • 337 implied HN points • 17 Jun 23
📰 News Investigation Academic Fraud Publication
  1. HBS professor under investigation for fake data is placed on administrative leave and faces paper retractions
  2. Investigation team of academics uncovered evidence of fraud and requested retraction of papers
  3. Fraudulent papers are likely to be extensive, with at least four retractions and potential for more

How SMS Fraud Works and How to Guard Against It

Mindful Musings • 206 HN points • 28 Feb 23
🕹 Technology Security Fraud Engineering Data Protection API
  1. Understanding how SMS fraud works involves premium phone numbers, gaming for profit, and exploiting vulnerabilities in services.
  2. Protecting against SMS fraud can involve measures like obfuscating endpoints, blocking sketchy IPs, and implementing rate-limiting on SMS sending.
  3. Twilio has the potential to offer SMS fraud protection using data on fraudulent numbers and carriers.

Last Month’s $83.3 Million Civil Jury Verdict Against Donald Trump in Federal Court Raises Historically Serious National Security Concerns

Proof • 60 implied HN points • 02 Feb 24
🇺🇸 U.S. Politics Law Security Finance Fraud
  1. Donald Trump faces serious legal and financial challenges, including an $83.3 million civil jury verdict against him.
  2. There are doubts about Trump's claims of having $400 million in liquid assets to pay off judgments against him.
  3. The concern over Trump's financial situation and potential debt raises national security concerns.

SBF is a fraud. But he was never the problem [Finance Fridays]

Technology Made Simple • 79 implied HN points • 24 Dec 22
💰 Finance Cryptocurrency Fraud Scams Social media Investing
  1. The Crypto Industry is plagued by frauds like SBF, but the root problem runs much deeper and extends beyond just cryptocurrencies.
  2. Mainstream media plays a significant role in perpetuating misinformation and misleading narratives, contributing to the success of individuals like SBF.
  3. To protect oneself from falling for scams, it's essential to critically evaluate products, look beyond social proof, and consider the utility and legitimacy of investment opportunities.

NEW: Rep. Khanna, Rep. Pocan and I go after Medicare Advantage in The Nation

HEALTH CARE un-covered • 139 implied HN points • 28 Dec 22
🇺🇸 U.S. Politics Healthcare Legislation Fraud Insurance Advocacy
  1. Medicare Advantage plans are designed to benefit insurance company shareholders rather than patients. This means they may prioritize profit over providing quality care.
  2. Patients on Medicare Advantage often need prior approval from insurers before getting treatment. This can delay care and make it harder to get necessary services.
  3. Real Medicare allows patients to see almost any doctor or hospital without needing referrals. In contrast, Medicare Advantage plans have stricter networks that can limit choices.

What Fraudulent Vaccine Card Schemes Reveal About America.

Silent Lunch, The David Zweig Newsletter • 35 implied HN points • 22 Jan 24
🏥 Health Politics Vaccine Fraud Mandates Public Health Law enforcement
  1. Vaccine mandates during the pandemic were a departure from past policies, impacting civil liberties and public health.
  2. Media narratives linking anti-vax sentiment to right-wing ideologies were misleading, with cases revealing diverse political backgrounds of fraudsters.
  3. Enforcement resources on vaccine card fraud raise concerns about priorities over healthcare crimes of greater magnitude.

It Was All a Lie!

Anxiety Addiction & Ascension • 39 implied HN points • 17 Oct 22
📰 News Vaccine Fraud
  1. Pfizer admitted to never testing if their vaccine prevented transmission of the virus, undermining the foundation of lockdowns and mandates put in place.
  2. The narrative pushed by pharmaceutical companies and governments about vaccines preventing transmission was a lie, causing far-reaching consequences like economic damage and societal division.
  3. There is a call for spreading awareness about the truth, holding accountable those responsible for the deceit, and uniting against the injustice inflicted by the manipulation of information.

Illumina: Fraud by Omission

Nongaap Investing • 32 implied HN points • 18 May 23
💼 Business Fraud Insider trading Accounting Investments Legal issues
  1. Fraud by omission is a significant concern in the case of Illumina insiders and their financial windfall on Grail.
  2. By omitting material facts, Illumina insiders potentially misled investors and reaped undisclosed financial windfalls.
  3. The use of cost method accounting instead of equity method accounting may be seen as a form of fraud by omission, allowing for undisclosed financial benefits.

The card payments you use every day are stunting economic growth - it's time for an upgrade

Building The Future of Payments by Mike Kelly • 1 HN point • 21 Jun 24
💰 Finance Payments Fees Fraud Economic Growth
  1. Card payments are outdated and inefficient, hindering economic growth by increasing costs, slowing transactions, and exposing to fraud.
  2. Card transaction fees act as a hidden sales tax, increasing prices for everyone and placing burdens on local businesses.
  3. Moving beyond traditional card systems to modern payment methods can lead to improved user experiences, reduced fees, and increased economic growth.

Lawyers, Coins and Money

Malt Liquidity • 5 implied HN points • 12 Oct 23
💰 Finance Cryptocurrency Trading Legal Court Proceedings Fraud
  1. During the trial of Sam Bankman-Fried and Alameda Research, evidence pointed towards potential fraud and mismanagement of funds, shifting the focus from trading competence to potential fraudulent activities.
  2. The testimony of key witnesses, Gary Wang and Caroline Ellison, revealed damning details about the misuse of customer funds, false financial statements, and manipulation within the organization.
  3. The trial shed light on the complex dynamics involving a hypercompetent coder, a junior trader, and a manipulative leader, emphasizing the need for accountability and transparency in the financial sector.