fraud
Business
IBM And Intel Executives Arrested For Insider Trading
8:55AM Chris Jacob | Six people in total were arrested today for making too much money too easily, among them executives from IBM and Intel. These guys made $US20 million in profits between January and July 2007 by passing insider info regarding Google, Hilton Hotels and Polycom onto a trader. Now they’re all facing multiple counts of conspiracy and securities fraud. More »
Business
Pirate Bay Unplugged By Swedish Court (Already Back Again, Sorta)
4:15PM Danny Allen | Like a T-1000 that just won’t die, the Pirate Bay simply jumped servers after its ISP pulled the plug yesterday. Update: But the site bounced back (after some ups-and-downs overnight), and here’s an excerpt from their defiant (and funny) response. More »
Business
Surprise! The Pirate Bay’s Buyers Are Extremely Shady
3:30AM John Herrman | Heroically snatched from near-death by a mysterious, benevolent gaming company, the Pirate Bay had a rosy future laid out ahead of it. But hey, that company? They’re turning out to be kind of rotten and possibly fraudulent. More »
Music
Gang Uses Stolen Credit Cards To Buy Own Music On ITunes, Collects Royalties, Still Not Famous
1:30PM Dan Nosowitz | In what probably seemed like a two-birds-with-one-stone situation (before the arrest, we mean), a 9-member British gang used stolen credit cards to purchase their own music on iTunes and Amazon, then collected the royalties—an estimated $US300,000 total. More »
Online
Fraudsters Now Targeting MobileMe Subscribers
11:10PM Jesus Diaz | Mails pretending to be banks or any other institution, asking you to log into a fake site are not new, but this one targeting MobileMe users is strange, since MobileMe is not very popular. More »
Press
Presenting the Latest in ATM Scam Gear: The SMS-Sending Card Skimmer
11:30PM John Mahoney | NYC is full of ATMs. It’s one of the great things about living in this city–you’re never more than a block or two away from cash. But a large, large percentage of NYC’s ATMs are cut-rate bodega models that look like your card could catch something nasty from them once dipped. Helping spread the nasty is this, the newest development in ATM skimmers, with SMS capability. So now, if he’s got $US8,500 to drop on the top of the line scam gear, the asshole who just jacked your card number and PIN doesn’t even have to come back to the scene of the crime to retrieve it. More »
Music
Walmart Unwittingly Sells iPod Nano Knockoff as Actual iPod
7:50PM John Herrman | Reader Mitchel Jones noticed something seriously wrong with the iPod display at his local Walmart. Was there another new iPod Nano? Has Apple finally abandoned its iconic wheel? The answer, as deduced by Mitchel himself, is much more depressing: retail fraud. More »
Press
Broadcom Exec Accused of Spiking Tech CEO’s Drinks, Has More Blow Than Scarface
10:15AM Adrian Covert | Henry Nicholas, co-founder of integrated circuits manufacturer Broadcom, has just been charged with spiking the drinks of other technology execs and maintaining a warehouse full of coke, meth and ecstasy. This is the latest incident for Nicholas, who in July 2007, was accused of constructing a sex cave so he could roll hard on ecstasy and properly love his prostitutes. In addition, Nicholas, along with co-founder Henry Samueli and CFO William Ruehle were charged last month on multiple counts of conspiracy, options backdating, falsifying reported income and securities fraud (BORING!). And call me a dreamer, but I’m still waiting for allegations involving a midget to work their way into this equation. Checkout Valleywag for the full indictment document.[NYT] More »
Gadgets
