Author: Elizabeth Blessing
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SEC says a New Jersey founder allegedly took money from more than 200 investors
The Securities and Exchange Commission has charged New Jersey founder Ernest Ossei Boateng and two companies he controls with running an alleged Ponzi scheme that raised about $16 million from more than 200 investors, many of whom had never invested before. The SEC said on September 10, 2026, that Boateng promised guaranteed fixed returns and…
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CFTC finalized awards to ten whistleblowers between July and September
The Commodity Futures Trading Commission has granted 10 whistleblower awards totaling more than $150 million, all in final determinations issued between July and September 2026. The agency announced the awards on September 14 and said they recognize people whose original information led the CFTC and other authorities to successful enforcement actions. As required by law,…
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A commodities court order pairs $547,616 in restitution with a $5.9 million penalty
A federal judge in Connecticut has ordered Florida resident Michael Frederick Staryk to pay $547,616 in restitution to defrauded clients and a $5,907,720 civil monetary penalty in a Commodity Futures Trading Commission options-fraud case. The CFTC announced the default judgment on September 15, 2026, and said it also permanently bans Staryk from trading and from…
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Southern Glazer’s will pay $12.5 million over false invoices and retailer bribes
Southern Glazer’s Wine and Spirits, the largest wine and spirits distributor in the United States, will pay $12.5 million under a non-prosecution agreement that resolves a federal investigation into bribes paid to employees of alcohol retailers, including chain grocery stores, and false invoices used to hide them. The U.S. Attorney’s Office for the Northern District…
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A nonprofit founder was charged over an alleged $7.5 million homelessness-funding fraud
Michael Young, a founder of the Culver City, California, homelessness nonprofit Home At Last, was arrested September 16 on a federal wire fraud charge alleging he misappropriated more than $7.5 million in taxpayer money meant for homeless housing. The Justice Department says Young ran the money through sham vendors he secretly controlled and spent millions…
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Twelve people face charges over $10 million meant for child-care assistance
Twelve people in the San Diego area face federal fraud charges over more than $10 million in public money meant to help low-income families pay for child care, the Justice Department said September 15. Prosecutors allege the defendants ran licensed home daycares that billed subsidy programs for children who were not actually in their care.…
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Federal prosecutors charged nearly 80 defendants in a COVID-loan summer surge
Federal prosecutors obtained felony charges against nearly 80 defendants during a summer crackdown on fraud in the Small Business Administration’s COVID-era loan programs, the Justice Department said September 14. The effort, called Operation No Doze, ran from June 12 through September 1 and involved more than 40 U.S. Attorney’s Offices. DOJ said the newly charged…
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The IRS will retire FIRE information-return filing on November 19
The Internal Revenue Service will stop accepting information returns through its Filing Information Returns Electronically system, known as FIRE, at 3 p.m. Eastern Time on November 19, 2026. In news release IR-2026-99, the agency told current FIRE users to move to its Information Returns Intake System, or IRIS, before the 2027 filing season. The change…
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Medicare adds at-home support options for heart failure, COPD, and substance-use care
Beginning April 1, 2027, people with Original Medicare who have heart failure, chronic obstructive pulmonary disease, a substance use disorder or nicotine dependence will be able to sign up for technology-supported care at home through Medicare’s ACCESS Model. The Centers for Medicare & Medicaid Services announced the expansion on September 15, 2026. Participating organizations may…
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Social Security cuts certified earnings statement fee to $79 from $96 on October 1
The Social Security Administration will charge $79 for certified yearly earnings totals on requests it receives on or after October 1, 2026, down from $96 under the schedule it set in 2024. The change appears in a Federal Register notice published September 21, which lowers the base charge for Form SSA-7050 earnings information from $61…