Three former executives at California car dealerships were detained on Jan. 12 on federal charges related to what prosecutors say was an embezzlement scheme. According to prosecutors, the activity took place from 2010 to 2016.
Common types of securities fraud
Like many other criminal offenses, securities fraud is a very serious charge. Typically, securities fraud occurs when an individual says something that is not true about a stock or a company that causes investors to react. While this is a general description of securities fraud, it actually comes in several forms. There are various federal laws in place that regulate securities, which means that violating these laws or committing securities fraud often results in federal charges.
3 agents receive jail time for life insurance scheme
On Jan. 8, it was reported that three California-based insurance agents were sentenced to prison after they were convicted on charges associated with a fraudulent life insurance scheme. All three of the insurance agents were convicted on wire fraud and identity theft charges in early 2017.
