Tag: US Department of Justice

74 Email Fraudsters Arrested by FBI

74 Email Fraudsters Arrested by FBI

The US Department of Justice announced last Monday that 74 fraudsters, 42 of which are from the US, have been arrested for conducting “business email compromise” schemes to steal millions from both businesses and individuals. The fraudsters, soma hailing from Nigeria, Canada, Mauritius, and Poland, were caught through Operation Wire Wire where the FBI also seized $2.4 million and blocked and recovered a total of $14 million in fraudulent wire transfers. The operation also involved the efforts of the US Department of Homeland Security, the US Treasury, and the US Postal Inspection Service.   Source: ZDNet

US DOJ to Probe Suspected Bitcoin Price Manipulation

US DOJ to Probe Suspected Bitcoin Price Manipulation

Last Thursday, it was reported that the US Department of Justice will be launching a criminal investigation into alleged cryptocurrency price manipulation by a number of traders. According to four Bloomberg sources, the DOJ will be looking into reports of illegal practices such as spoofing, or flooding the market with fake orders. It is said that federal prosecutors are already working with the Commodity Futures Trading Commission (CFTC), but the Justice Department and the CFTC have yet to release an official statement on the matter. Source: Reuters

US Agencies to Probe iPhone Slowdown Debacle

US Agencies to Probe iPhone Slowdown Debacle

Bloomberg reported last Tuesday that Apple is set to be investigated by the US Department of Justice and the Securities and Exchange Commission as to whether the company had violated securities laws after admitting to slowing down older iPhones to prolong battery life. Around 50 proposed class action suits have already been filed against the phone maker by users who said that the update had significantly degraded the performance of their iPhones, making them think that their devices were already at the end of their life cycle. The consumers have also asked judges to issue orders that would prevent Apple […]

DoJ Charges Trader of Hacking, Placing Illegal Trades

DoJ Charges Trader of Hacking, Placing Illegal Trades

The US Department of Justice recently charged a trader for hacking into various financial companies and making unauthorized trades. Pennsylvanian Joseph Willner was reported to have ran a scheme with a partner where he put up “short-sale” offers at inflated prices. Willner and his partner then used the hacked trading accounts of several brokerage firms to buy the offers, which he then bought back at a much lower price. The operations were carried out sometime between September 2014 and May 2017, where the two netted around $700,000. Investigators also discovered that Willner used IP addresses from the same cities and […]

Microsoft Drops Lawsuit After DoJ Issues New Gag Order Policy

Microsoft Drops Lawsuit After DoJ Issues New Gag Order Policy

Microsoft announced last Monday that the company will be moving to dismiss a lawsuit it filed against the US Department of Justice last year. This comes after the DoJ’s issuance of a new policy which requires gag orders to be carefully and specifically grounded in the facts of the case, and used only within a defined period of time. Microsoft president and chief legal officer Brad Smith said in a blogpost that the new policy should curtail the practice of preventing cloud providers from informing their customers when the government accesses their information. It would also ensures that secrecy orders […]