Elizabeth Holmes dodges questions about unpaid legal bills as charges fly over case documents

Elizabeth Holmes, decked out for court in high heels and a suit, brushed aside questions on Monday about legal fees her civil attorneys say she hasn’t paid. “Any response to claims that your attorney’s haven’t been paid?” As per her usual demeanor, she smiled and kept walking without saying a word. The flap over paying her legal bills is connected to a separate class-action civil lawsuit filed in U.S. District Court in Phoenix. In the San Jose criminal case hearing, attorneys for Holmes and Balw


Elizabeth Holmes, decked out for court in high heels and a suit, brushed aside questions on Monday about legal fees her civil attorneys say she hasn’t paid.
“Any response to claims that your attorney’s haven’t been paid?”
As per her usual demeanor, she smiled and kept walking without saying a word.
The flap over paying her legal bills is connected to a separate class-action civil lawsuit filed in U.S. District Court in Phoenix.
In the San Jose criminal case hearing, attorneys for Holmes and Balw
Elizabeth Holmes dodges questions about unpaid legal bills as charges fly over case documents Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-04  Authors: yasmin khorram
Keywords: news, cnbc, companies, fly, documents, san, attorneys, say, elizabeth, questions, dodges, unpaid, charges, case, holmes, legal, jose, wire, cooley, paid


Elizabeth Holmes dodges questions about unpaid legal bills as charges fly over case documents

Elizabeth Holmes, decked out for court in high heels and a suit, brushed aside questions on Monday about legal fees her civil attorneys say she hasn’t paid.

“Any response to claims that your attorney’s haven’t been paid?” CNBC asked Holmes as she arrived at the San Jose Federal Courthouse for a hearing in her criminal case, in which she and co-defendant Ramesh “Sunny” Balwani are charged with nine counts of wire fraud and two counts of conspiracy to commit wire fraud.

They each face up to 20 years in prison if convicted.

As per her usual demeanor, she smiled and kept walking without saying a word.

The flap over paying her legal bills is connected to a separate class-action civil lawsuit filed in U.S. District Court in Phoenix.

Attorneys with the law firm Cooley LLP filed a motion last month requesting to withdraw as counsel for Holmes, alleging that “Ms. Holmes has not paid Cooley for any of its work as her counsel of record in this action for more than a year,” adding, “given Ms. Holmes’s current financial situation Cooley has no expectation that Ms. Holmes will ever pay it for its services as her counsel.”

In the San Jose criminal case hearing, attorneys for Holmes and Balwani argued with the government over access to documents from regulators they say is key to their defense.


Company: cnbc, Activity: cnbc, Date: 2019-11-04  Authors: yasmin khorram
Keywords: news, cnbc, companies, fly, documents, san, attorneys, say, elizabeth, questions, dodges, unpaid, charges, case, holmes, legal, jose, wire, cooley, paid


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Judge rules ex-Deutsche Bank traders can be prosecuted under wire fraud law for alleged ‘spoofing’

A federal judge on Monday said that a deceptive commodities trading tactic known as spoofing can be prosecuted under the wire fraud statute, a decision that will allow a criminal case against two ex-Deutsche Bank precious metals traders to move forward. James Vorley and Cedric Chanu, the traders in the case before Tharp, were indicted in July 2018 on charges of conspiracy and wire fraud. Tharp’s decision allowing the use of the wire fraud statute came in response to a motion to dismiss the case


A federal judge on Monday said that a deceptive commodities trading tactic known as spoofing can be prosecuted under the wire fraud statute, a decision that will allow a criminal case against two ex-Deutsche Bank precious metals traders to move forward.
James Vorley and Cedric Chanu, the traders in the case before Tharp, were indicted in July 2018 on charges of conspiracy and wire fraud.
Tharp’s decision allowing the use of the wire fraud statute came in response to a motion to dismiss the case
Judge rules ex-Deutsche Bank traders can be prosecuted under wire fraud law for alleged ‘spoofing’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-22  Authors: dawn giel
Keywords: news, cnbc, companies, exdeutsche, fraud, wire, bank, law, metals, precious, trading, statute, rules, spoofing, tharp, judge, vorley, prosecuted, traders


Judge rules ex-Deutsche Bank traders can be prosecuted under wire fraud law for alleged 'spoofing'

A federal judge on Monday said that a deceptive commodities trading tactic known as spoofing can be prosecuted under the wire fraud statute, a decision that will allow a criminal case against two ex-Deutsche Bank precious metals traders to move forward.

The decision by Judge John Tharp in U.S. District Court in Chicago also supports federal prosecutors’ efforts to criminally charge individuals for spoofing trades dating as far back as 10 years, the statute of limitations for wire fraud that affects a financial institution.

The charges of commodities fraud and violations of the Dodd-Frank Act — which explicitly made spoofing a criminal offense — have shorter statutes of limitations, of six years and five years, respectively.

James Vorley and Cedric Chanu, the traders in the case before Tharp, were indicted in July 2018 on charges of conspiracy and wire fraud.

Tharp’s decision allowing the use of the wire fraud statute came in response to a motion to dismiss the case by lawyers for Vorley and Chanu.

Prosecutors said the two men manipulated precious metals futures markets from 2009 to 2011 individually, in coordination with one another, and with a third trader, David Liew.

The trades identified by prosecutors allegedly involved spoofing, which involves placing trade orders with the intent to cancel them before they can be executed.

The goal of the tactic is to affect the price of the commodity so as to improve the performance of a pre-existing trading position in the market.

Lawyers for Vorley and Chanu had argued that the trades for which they were charged did not constitute so-called materially false statements, as is required for a charge to be filed under the wire fraud statute.

In his ruling Tuesday, Tharp said, “This case presents the question of whether a scheme to defraud commodities traders by placing ‘spoofing’ orders — orders that the trader intends to withdraw before they can be filled — can constitute wire fraud.”

“The defendants say no, because wire fraud requires the making of a false statement — an express misrepresentation — and the indictment alleges none,” Tharp wrote. “That is not the law.”

Tharp noted that the U.S. Seventh Circuit Court of Appeals previously ruled that spoofing “can constitute a ‘scheme to defraud’ under the commodities fraud statute.”

“As there is no material difference between a scheme to defraud under either statute, the answer to the question presented is, yes: the alleged spoofing scheme alleged in the indictment adequately charges violations of the wire fraud statute,” Tharp said.

Tharp noted that the questions of whether the former Deutsche Bank traders’ orders were, in fact, misleading and material, must be resolved at trial, instead of by a motion to dismiss the case.

Vorley’s attorney, Roger Burlingame, in a statement to CNBC, said, “The government’s charges have always been and remain absurd.”

“James’s trading was perfectly legal, and no market participant could possibly have been defrauded by live, at risk offers to trade on an anonymous exchange. We look forward to winning at trial,” Burlingame said.

Michael McGovern, a lawyer for Chanu, said in an emailed statement, “As Judge Tharp repeatedly noted in his decision, the Government has yet to prove that Cedric did anything wrong — and we look forward to trial, when it will become clear that he did not.”

“We will continue to mount a forceful defense on his behalf,” McGovern said.

The Department of Justice declined to comment on the ruling.

Liew, who previously worked with Vorley and Chanu as a junior trader on the precious metals desk for Deutsche Bank, pleaded guilty in June 2017 to one count of conspiracy to commit wire fraud and spoofing.

Liew is a cooperating witness for prosecutors. He is awaiting sentencing.

The Justice Department has been aggressively cracking down on spoofing in the precious metals market. Federal prosecutors have lodged 13 spoofing cases against 19 defendants in the past five years.

In September, prosecutors indicted three J.P. Morgan precious metals traders — including the global head of base and precious metals trading — on charges that include racketeering conspiracy in connection with an alleged multiyear scheme to manipulate the precious metals futures markets.

Trade groups, including the Futures Industry Association, the U.S. Chamber of Commerce, the Bank Policy Institute and the Securities Industry and Financial Markets Association all filed briefs in January and February supporting Vorley and Chanu’s argument to dismiss the charges.

In FIA’s filing, the leading global trade organization says it “objects to the government’s attempt to expand the wire fraud statute in a new way that unnecessarily invites harm to legitimate trading and the vitality of the futures markets.”

In addition, the FIA cautioned that “if accepted, the government’s theory of liability poses a serious risk of chilling legitimate, non-fraudulent trading by FIA’s members and other market participants,” the filing says.


Company: cnbc, Activity: cnbc, Date: 2019-10-22  Authors: dawn giel
Keywords: news, cnbc, companies, exdeutsche, fraud, wire, bank, law, metals, precious, trading, statute, rules, spoofing, tharp, judge, vorley, prosecuted, traders


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Elizabeth Holmes’ attorneys blast prosecution over withholding government documents

Defense attorneys for former Theranos CEO Elizabeth Holmes and Sunny “Ramesh” Balwani criticized prosecutors Wednesday for stalling to turn over what they call key documents that would clear their clients. “The evidence produced so far confirms our belief that certain documents directly contradict allegations in the indictment,” Lance Wade, an attorney for Holmes, told the judge. Defense attorneys pressed U.S. District Judge Edward Davila to get the government involved in producing these agency


Defense attorneys for former Theranos CEO Elizabeth Holmes and Sunny “Ramesh” Balwani criticized prosecutors Wednesday for stalling to turn over what they call key documents that would clear their clients. “The evidence produced so far confirms our belief that certain documents directly contradict allegations in the indictment,” Lance Wade, an attorney for Holmes, told the judge. Defense attorneys pressed U.S. District Judge Edward Davila to get the government involved in producing these agency
Elizabeth Holmes’ attorneys blast prosecution over withholding government documents Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-02  Authors: yasmin khorram
Keywords: news, cnbc, companies, withholding, attorney, investors, defense, theranos, wire, balwani, received, judge, prosecution, attorneys, holmes, elizabeth, blast, documents


Elizabeth Holmes' attorneys blast prosecution over withholding government documents

Defense attorneys for former Theranos CEO Elizabeth Holmes and Sunny “Ramesh” Balwani criticized prosecutors Wednesday for stalling to turn over what they call key documents that would clear their clients.

“The evidence produced so far confirms our belief that certain documents directly contradict allegations in the indictment,” Lance Wade, an attorney for Holmes, told the judge. “While this information is comforting in a sense, it’s startling that it wasn’t gathered by the government.”

Holmes and Balwani argue documents from U.S. agencies including the Food and Drug Administration and the Centers for Medicare and Medicaid Services are crucial in rebutting charges that they knew Theranos blood tests were inaccurate and misrepresented capabilities to investors, doctors and patients.

Defense attorneys pressed U.S. District Judge Edward Davila to get the government involved in producing these agency documents and said they’ve received about 20% of the documents they requested.

“The quickest way to fix this issue is to require the government to oversee the process,” said Jeffrey Coopersmith, an attorney for Balwani. “I’m sure Mr. Bostick (Assistant U.S. Attorney) would have drafted his indictment differently if he has seen these documents.”

But the prosecution said the defense misunderstands their position with the agencies.

“If this is about the government’s access to the documents, the defense is getting the benefit of a higher level of information and more transparency than the government received,” said Bostick.

Holmes and co-defendant Balwani are charged with nine counts of wire fraud and two counts of conspiracy to commit wire fraud with the now-defunct blood-testing company.

The charges portray a scheme by Holmes and Balwani to lie about Theranos’ technology and dupe investor’s out of hundreds of millions of dollars.

They each face up to 20 years in prison if convicted.

After hearing an hour of arguments on both sides Judge Davila set November 4 as the next hearing date.

Holmes ignored questions from CNBC as she left court on Wednesday.


Company: cnbc, Activity: cnbc, Date: 2019-10-02  Authors: yasmin khorram
Keywords: news, cnbc, companies, withholding, attorney, investors, defense, theranos, wire, balwani, received, judge, prosecution, attorneys, holmes, elizabeth, blast, documents


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Billionaire James Dyson reportedly buys $54 million penthouse in Singapore

The Wallich Residence is located within the Tanjong Pagar Centre (second from right), Singapore’s tallest building. British technology firm founder James Dyson and his wife have bought a luxury penthouse in Singapore for a record 73.8 million Singapore dollars ($54.2 million), according to The Business Times newspaper on Wednesday. The privately held company Dyson founded is known for selling $400 hair dryers and sleekly designed vacuum cleaners. The Business Times did not specify its sources, b


The Wallich Residence is located within the Tanjong Pagar Centre (second from right), Singapore’s tallest building. British technology firm founder James Dyson and his wife have bought a luxury penthouse in Singapore for a record 73.8 million Singapore dollars ($54.2 million), according to The Business Times newspaper on Wednesday. The privately held company Dyson founded is known for selling $400 hair dryers and sleekly designed vacuum cleaners. The Business Times did not specify its sources, b
Billionaire James Dyson reportedly buys $54 million penthouse in Singapore Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-10  Authors: huileng tan
Keywords: news, cnbc, companies, 54, james, wife, reportedly, million, singapore, dyson, wednesdaythe, buys, newspaper, business, penthouse, billionaire, records, times, wire


Billionaire James Dyson reportedly buys $54 million penthouse in Singapore

The Wallich Residence is located within the Tanjong Pagar Centre (second from right), Singapore’s tallest building.

British technology firm founder James Dyson and his wife have bought a luxury penthouse in Singapore for a record 73.8 million Singapore dollars ($54.2 million), according to The Business Times newspaper on Wednesday.

The privately held company Dyson founded is known for selling $400 hair dryers and sleekly designed vacuum cleaners.

The Business Times did not specify its sources, but local newspaper The Straits Times said it had reviewed documents revealing the purchase.

Official title records seen by Reuters show billionaire Dyson and his wife became tenants of the 99-year leasehold property on June 20. The records did not state the price paid, the wire said.


Company: cnbc, Activity: cnbc, Date: 2019-07-10  Authors: huileng tan
Keywords: news, cnbc, companies, 54, james, wife, reportedly, million, singapore, dyson, wednesdaythe, buys, newspaper, business, penthouse, billionaire, records, times, wire


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Huawei CEO says banks knew about the company’s allegedly criminal activities

Huawei CEO Ren Zhengfei says the banks at the center of the U.S. case against his company were fully aware of the nature and activities of the business. In an exclusive interview with CNBC’s Deirdre Bosa on Wednesday, Ren said the banks “have full knowledge of all those business activities,” referring to the allegations of bank and wire fraud against Huawei and Ren’s daughter, Meng Wanzhou, who is also the company’s CFO. It’s the first time Ren has spoken publicly about the specific details in t


Huawei CEO Ren Zhengfei says the banks at the center of the U.S. case against his company were fully aware of the nature and activities of the business. In an exclusive interview with CNBC’s Deirdre Bosa on Wednesday, Ren said the banks “have full knowledge of all those business activities,” referring to the allegations of bank and wire fraud against Huawei and Ren’s daughter, Meng Wanzhou, who is also the company’s CFO. It’s the first time Ren has spoken publicly about the specific details in t
Huawei CEO says banks knew about the company’s allegedly criminal activities Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-19  Authors: laura batchelor
Keywords: news, cnbc, companies, huawei, daughter, case, ren, meng, ceo, iran, banks, allegedly, companys, wire, criminal, bank, activities, knew, fraud


Huawei CEO says banks knew about the company's allegedly criminal activities

Huawei CEO Ren Zhengfei says the banks at the center of the U.S. case against his company were fully aware of the nature and activities of the business.

In an exclusive interview with CNBC’s Deirdre Bosa on Wednesday, Ren said the banks “have full knowledge of all those business activities,” referring to the allegations of bank and wire fraud against Huawei and Ren’s daughter, Meng Wanzhou, who is also the company’s CFO.

It’s the first time Ren has spoken publicly about the specific details in the case against Meng and Huawei.

Huawei and Meng are charged with bank and wire fraud and conspiracy to commit bank and wire fraud in relation to skirting American sanctions on Iran. Meng was arrested in Canada in December and is still there fighting extradition to the U.S.

The U.S. government alleges that Meng lied to HSBC and other banks about Huawei’s relationship with an unofficial subsidiary in Iran called Skycom in order to get banking services.

Huawei and Meng strongly deny wrongdoing. Ren added that one of the banks even met with Meng.

“My daughter was in a cafe and said something to the bank officials,” he said. “We have to talk to the person who had the coffee with Meng.”


Company: cnbc, Activity: cnbc, Date: 2019-06-19  Authors: laura batchelor
Keywords: news, cnbc, companies, huawei, daughter, case, ren, meng, ceo, iran, banks, allegedly, companys, wire, criminal, bank, activities, knew, fraud


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Michael Avenatti charged with ripping off porn star Stormy Daniels, trying to extort Nike in new indictments

Adult-film actress Stephanie Clifford, also known as Stormy Daniels speaks US Federal Court with her lawyer Michael Avenatti (R) on April 16, 2018, in Lower Manhattan, New York. While the Nike-related indictment was expected because it mirrors allegations in a criminal complaint executed against Avenatti in March, the claims related to Daniels were brand new. Prosecutors claim that Avenatti ripped off Daniels by taking payments for her book sales and paying her just half of what she was owed. “M


Adult-film actress Stephanie Clifford, also known as Stormy Daniels speaks US Federal Court with her lawyer Michael Avenatti (R) on April 16, 2018, in Lower Manhattan, New York. While the Nike-related indictment was expected because it mirrors allegations in a criminal complaint executed against Avenatti in March, the claims related to Daniels were brand new. Prosecutors claim that Avenatti ripped off Daniels by taking payments for her book sales and paying her just half of what she was owed. “M
Michael Avenatti charged with ripping off porn star Stormy Daniels, trying to extort Nike in new indictments Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-22  Authors: dan mangan
Keywords: news, cnbc, companies, ripping, star, wire, porn, indictments, client, lawyer, alleged, trying, nike, michael, theft, trump, avenatti, book, stormy, daniels, extort


Michael Avenatti charged with ripping off porn star Stormy Daniels, trying to extort Nike in new indictments

Adult-film actress Stephanie Clifford, also known as Stormy Daniels speaks US Federal Court with her lawyer Michael Avenatti (R) on April 16, 2018, in Lower Manhattan, New York.

Controversial lawyer Michael Avenatti was indicted Wednesday in separate cases charging him with stealing about $300,000 from his former porn star client Stormy Daniels, and with trying to extort athletic shoe giant Nike out of tens of millions of dollars by threatening to go public with claims the company was facilitating payments to the families of high school basketball stars.

While the Nike-related indictment was expected because it mirrors allegations in a criminal complaint executed against Avenatti in March, the claims related to Daniels were brand new.

Avenatti, who last year was mulling a run for the White House, is now charged in three separate federal indictments, including one pending in California related to alleged theft of client funds and other crimes, and faces the possibility of many years in prison if convicted.

According to one of the new indictments in New York, Avenatti allegedly forged Daniels’ signature on a document that gave wire fund transfer information to her literary agent, which helped direct the money paid out for the book sales to a bank account controlled by Avenatt.

The lawyer had become widely known and notorious last year for his representation of Daniels, who was paid $140,000 on the eve of the 2016 presidential election by President Donald Trump’s then-personal lawyer Michael Cohen to keep her quiet about her alleged sexual tryst with Trump a decade earlier. Trump denies having sex with her.

Prosecutors claim that Avenatti ripped off Daniels by taking payments for her book sales and paying her just half of what she was owed.

The indictment, which charges him with wire fraud and aggravated identity theft, accuses him of spending some of the money he allegedly swindled from Daniels on a lease payment for his Ferrari, travel expenses, dry cleaning and $56,000 in payroll at his law firm.

“Michael Avenatti abused and violated the core duty of an attorney – the duty to his client,” said Manhattan U.S. Attorney Geoffrey S. Berman.

“As alleged, he used his position of trust to steal an advance on the client’s book deal. As alleged, he blatantly lied to and stole from his client to maintain his extravagant lifestyle, including to pay for, among other things, a monthly car payment on a Ferrari. Far from zealously representing his client, Avenatti, as alleged, instead engaged in outright deception and theft, victimizing rather than advocating for his client.”


Company: cnbc, Activity: cnbc, Date: 2019-05-22  Authors: dan mangan
Keywords: news, cnbc, companies, ripping, star, wire, porn, indictments, client, lawyer, alleged, trying, nike, michael, theft, trump, avenatti, book, stormy, daniels, extort


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After Trump tweet, UK spy agency says claim it spied on Trump is utterly ridiculous

Britain’s main eavesdropping agency on Wednesday said allegations that it had been asked by the Obama administration to spy on Donald Trump after the 2016 presidential election were utterly ridiculous and should be ignored. Trump on Wednesday tweeted that a former CIA analyst, Larry Johnson, had accused Britain of spying on the Trump campaign. Trump said: “It is now just a question of time before the truth comes out, and when it does, it will be a beauty!” When asked about the tweet, a GCHQ spok


Britain’s main eavesdropping agency on Wednesday said allegations that it had been asked by the Obama administration to spy on Donald Trump after the 2016 presidential election were utterly ridiculous and should be ignored. Trump on Wednesday tweeted that a former CIA analyst, Larry Johnson, had accused Britain of spying on the Trump campaign. Trump said: “It is now just a question of time before the truth comes out, and when it does, it will be a beauty!” When asked about the tweet, a GCHQ spok
After Trump tweet, UK spy agency says claim it spied on Trump is utterly ridiculous Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: alex wong, getty images
Keywords: news, cnbc, companies, trump, ridiculous, truth, tweeted, spy, utterly, spied, allegations, wire, tapping, agency, claim, asked, uk, gchq


After Trump tweet, UK spy agency says claim it spied on Trump is utterly ridiculous

Britain’s main eavesdropping agency on Wednesday said allegations that it had been asked by the Obama administration to spy on Donald Trump after the 2016 presidential election were utterly ridiculous and should be ignored.

Trump on Wednesday tweeted that a former CIA analyst, Larry Johnson, had accused Britain of spying on the Trump campaign. Trump said: “It is now just a question of time before the truth comes out, and when it does, it will be a beauty!”

When asked about the tweet, a GCHQ spokesman said: “The allegations that GCHQ was asked to conduct ‘wire tapping’ against the then President Elect are nonsense. They are utterly ridiculous and should be ignored.”


Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: alex wong, getty images
Keywords: news, cnbc, companies, trump, ridiculous, truth, tweeted, spy, utterly, spied, allegations, wire, tapping, agency, claim, asked, uk, gchq


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After Trump tweet, UK spy agency says claim it spied on Trump is utterly ridiculous

Britain’s main eavesdropping agency on Wednesday said allegations that it had been asked by the Obama administration to spy on Donald Trump after the 2016 presidential election were utterly ridiculous and should be ignored. Trump on Wednesday tweeted that a former CIA analyst, Larry Johnson, had accused Britain of spying on the Trump campaign. Trump said: “It is now just a question of time before the truth comes out, and when it does, it will be a beauty!” When asked about the tweet, a GCHQ spok


Britain’s main eavesdropping agency on Wednesday said allegations that it had been asked by the Obama administration to spy on Donald Trump after the 2016 presidential election were utterly ridiculous and should be ignored. Trump on Wednesday tweeted that a former CIA analyst, Larry Johnson, had accused Britain of spying on the Trump campaign. Trump said: “It is now just a question of time before the truth comes out, and when it does, it will be a beauty!” When asked about the tweet, a GCHQ spok
After Trump tweet, UK spy agency says claim it spied on Trump is utterly ridiculous Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: alex wong, getty images
Keywords: news, cnbc, companies, trump, ridiculous, truth, tweeted, spy, utterly, spied, allegations, wire, tapping, agency, claim, asked, uk, gchq


After Trump tweet, UK spy agency says claim it spied on Trump is utterly ridiculous

Britain’s main eavesdropping agency on Wednesday said allegations that it had been asked by the Obama administration to spy on Donald Trump after the 2016 presidential election were utterly ridiculous and should be ignored.

Trump on Wednesday tweeted that a former CIA analyst, Larry Johnson, had accused Britain of spying on the Trump campaign. Trump said: “It is now just a question of time before the truth comes out, and when it does, it will be a beauty!”

When asked about the tweet, a GCHQ spokesman said: “The allegations that GCHQ was asked to conduct ‘wire tapping’ against the then President Elect are nonsense. They are utterly ridiculous and should be ignored.”


Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: alex wong, getty images
Keywords: news, cnbc, companies, trump, ridiculous, truth, tweeted, spy, utterly, spied, allegations, wire, tapping, agency, claim, asked, uk, gchq


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Tax extortion scams are skyrocketing, says FBI

The FBI received 51,146 complaints from people who reported losing $83 million to the scams, which have become highly automated and fast. D’Antuono says that he personally fielded five robocalls trying to scam him out of his tax and financial information on Monday. The scams typically start with an automated call to the victim’s cell phone, including a dire warning about taxes owed. We’ve heard a lot of reports of threats that they’re going to come to [victim’s] house, they’re going to arrest th


The FBI received 51,146 complaints from people who reported losing $83 million to the scams, which have become highly automated and fast. D’Antuono says that he personally fielded five robocalls trying to scam him out of his tax and financial information on Monday. The scams typically start with an automated call to the victim’s cell phone, including a dire warning about taxes owed. We’ve heard a lot of reports of threats that they’re going to come to [victim’s] house, they’re going to arrest th
Tax extortion scams are skyrocketing, says FBI Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-15  Authors: kate fazzini, sturti, getty images
Keywords: news, cnbc, companies, theyre, extortion, skyrocketing, scams, tax, money, wire, irs, taxes, calls, phone, victims, scammers, fbi


Tax extortion scams are skyrocketing, says FBI

You’re not imagining it. Tax-related extortion schemes, many of which that start with robocalls and hinge on convincing you to pay taxes to scammers posing as the IRS, rose 242% year-over-year, according to the latest data from the FBI.

The FBI received 51,146 complaints from people who reported losing $83 million to the scams, which have become highly automated and fast. The data is collected and tracked by the bureau’s Internet Crime Complaint Center, known as IC3.

“We can’t arrest our way out of this situation because there are too many con men out there,” said Steven D’Antuono, section chief of the FBI’s D.C.-based financial crimes section.

D’Antuono says that he personally fielded five robocalls trying to scam him out of his tax and financial information on Monday.

The scams typically start with an automated call to the victim’s cell phone, including a dire warning about taxes owed. If the individual calls back, fraudsters then work to convince the taxpayer that he or she must immediately pay the sum.

Often, D’Antuono said, the scammers will provide the targeted person with a phone number that is supposed to be a local law enforcement or IRS office. In fact, it’s a fraudulent number leading to another criminal who reinforces the scheme. Victims send money in a variety of ways, including by wire or check. In some cases where victims were too scared to wire money, fraudsters have been able to convince them to buy gift cards and send the necessary information for the criminals to cash them out. He said some more recent versions of the scheme may also request victims make their payment in bitcoin or other cryptocurrencies.

A criminal can net a few thousand dollars in a single, successful theft, he said, and they have “gotten very, very aggressive of late. We’ve heard a lot of reports of threats that they’re going to come to [victim’s] house, they’re going to arrest them.”

D’Antuono said he expects many scammers will wait to ramp up the fraudulent calls until after April 15, when the majority of Americans will have filed their tax returns. That’s a natural time to tell people that they got something wrong on their returns and that the IRS is “following up.”

He emphasized that the IRS will never contact taxpayers by phone or email about any taxes owed, only by mail. Individuals should ignore the calls, he said, and report any unsolicited or questionable request for money to the FBI’s IC3 tip line.


Company: cnbc, Activity: cnbc, Date: 2019-04-15  Authors: kate fazzini, sturti, getty images
Keywords: news, cnbc, companies, theyre, extortion, skyrocketing, scams, tax, money, wire, irs, taxes, calls, phone, victims, scammers, fbi


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Tax extortion scams are skyrocketing, says FBI

The FBI received 51,146 complaints from people who reported losing $83 million to the scams, which have become highly automated and fast. D’Antuono says that he personally fielded five robocalls trying to scam him out of his tax and financial information on Monday. The scams typically start with an automated call to the victim’s cell phone, including a dire warning about taxes owed. We’ve heard a lot of reports of threats that they’re going to come to [victim’s] house, they’re going to arrest th


The FBI received 51,146 complaints from people who reported losing $83 million to the scams, which have become highly automated and fast. D’Antuono says that he personally fielded five robocalls trying to scam him out of his tax and financial information on Monday. The scams typically start with an automated call to the victim’s cell phone, including a dire warning about taxes owed. We’ve heard a lot of reports of threats that they’re going to come to [victim’s] house, they’re going to arrest th
Tax extortion scams are skyrocketing, says FBI Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-15  Authors: kate fazzini, sturti, getty images
Keywords: news, cnbc, companies, theyre, extortion, skyrocketing, scams, tax, money, wire, irs, taxes, calls, phone, victims, scammers, fbi


Tax extortion scams are skyrocketing, says FBI

You’re not imagining it. Tax-related extortion schemes, many of which that start with robocalls and hinge on convincing you to pay taxes to scammers posing as the IRS, rose 242% year-over-year, according to the latest data from the FBI.

The FBI received 51,146 complaints from people who reported losing $83 million to the scams, which have become highly automated and fast. The data is collected and tracked by the bureau’s Internet Crime Complaint Center, known as IC3.

“We can’t arrest our way out of this situation because there are too many con men out there,” said Steven D’Antuono, section chief of the FBI’s D.C.-based financial crimes section.

D’Antuono says that he personally fielded five robocalls trying to scam him out of his tax and financial information on Monday.

The scams typically start with an automated call to the victim’s cell phone, including a dire warning about taxes owed. If the individual calls back, fraudsters then work to convince the taxpayer that he or she must immediately pay the sum.

Often, D’Antuono said, the scammers will provide the targeted person with a phone number that is supposed to be a local law enforcement or IRS office. In fact, it’s a fraudulent number leading to another criminal who reinforces the scheme. Victims send money in a variety of ways, including by wire or check. In some cases where victims were too scared to wire money, fraudsters have been able to convince them to buy gift cards and send the necessary information for the criminals to cash them out. He said some more recent versions of the scheme may also request victims make their payment in bitcoin or other cryptocurrencies.

A criminal can net a few thousand dollars in a single, successful theft, he said, and they have “gotten very, very aggressive of late. We’ve heard a lot of reports of threats that they’re going to come to [victim’s] house, they’re going to arrest them.”

D’Antuono said he expects many scammers will wait to ramp up the fraudulent calls until after April 15, when the majority of Americans will have filed their tax returns. That’s a natural time to tell people that they got something wrong on their returns and that the IRS is “following up.”

He emphasized that the IRS will never contact taxpayers by phone or email about any taxes owed, only by mail. Individuals should ignore the calls, he said, and report any unsolicited or questionable request for money to the FBI’s IC3 tip line.


Company: cnbc, Activity: cnbc, Date: 2019-04-15  Authors: kate fazzini, sturti, getty images
Keywords: news, cnbc, companies, theyre, extortion, skyrocketing, scams, tax, money, wire, irs, taxes, calls, phone, victims, scammers, fbi


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