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ITMG Insider Threat Cases – September 15, 2021

Bank Teller Charged with Federal Fraud Charges

According to the Bill of Information, between November 2017 and February 2020, SILVIO held the positions of head teller, universal banker, and mortgage loan assistant at IberiaBank (“Iberia”) in New Orleans and Metairie.  From December 3, 2018 to December 6, 2019, SILVIO embezzled approximately $63,059.82 from five customers’ Iberia accounts by forging approximately 66 counter checks.  SILVIO deposited the fraudulent checks into her own bank accounts with Chase Bank and Capital One.

University Hacker Sent to Prison

A student who hacked into a British university’s computer network and made thousands of dollars by selling the answers to exams has been sentenced to prison.

Hayder Aljayyash, who is 29 and was born in Iraq, was welcomed into the UK as an asylum seeker. Between November 2017 and May 2019, Aljayyash illegally accessed the computer system of the University of South Wales where he had been studying for a master’s degree in embedded system design.

Hackers Steal Data from United Nations

Bloomberg reports that the unidentified cyber-criminals behind the theft appear to have gained access simply by using login credentials stolen from a UN employee.

Entry was gained by logging in to the employee’s Umoja account. Umoja, which means “unity” in Kiswahili, is the enterprise resource planning system implemented by the UN in 2015.

Doctor Admits Stealing more than $500,000 from Former Employer

Before attending medical school, Sytnik worked for a medical practice in southern New Jersey as a bookkeeper. While employed by the practice, Sytnik stole some of its checks and, from May 2013 through April 2018, used them to steal more than $500,000 from the practice. He opened and maintained credit card accounts at the same banks as used by the doctor at the medical practice. He forged the doctor’s signature on the stolen checks, which he sent through the U.S. Mail to pay his own credit card bills. When Sytnik ran out of checks, he reordered new ones so that he could continue the fraud.

Three Operators of Financial Services Firm Indicted for $155 Million Investment Fraud

“As alleged, the defendants orchestrated a complex and fraudulent scheme to repeatedly mislead investors about the nature and performance of their investments.  The defendants enriched themselves with millions of dollars in investor funds while making misrepresentations that caused more than $155 million in investor losses,” stated Acting United States Attorney Kasulis.  “The charges demonstrate this Office’s commitment to ensuring integrity in the management of investor funds and prosecuting those who commit fraud to enrich themselves at their investors’ expense.”  Ms. Kasulis also expressed her appreciation to the IRS-CI Boston Field Office for their assistance with the case.

Philadelphia Woman Admits $100 Million Securities Fraud Scheme

Smith misrepresented the success and performance of Broad Reach Capital to investors and prospective investors. She touted Broad Reach Capital as a trade-focused investment fund that was highly liquid and employed a robust risk management program. Smith distributed written materials about Broad Reach Capital to investors and prospective investors that included purported historical performance information, such as claimed annual returns of over 33 percent in 2017 and positive monthly returns in 2018. In fact, the total cash and securities in the Broad Reach Capital bank and brokerage accounts decreased from approximately December 2016 through June 2019. For example, the written materials claimed that Broad Reach Capital had a 1.76 percent return in February 2018 when in reality, Broad Reach Capital’s brokerage accounts lost approximately 50 percent of their value.

This entry was posted on Wednesday, September 15th, 2021 at 4:14 pm. Both comments and pings are currently closed.