Author: Jordan Belfort

Author, People

Jordan Ross Belfort  (/ˈbɛlfɔːrt/; born July 9, 1962) is an American author, motivational speaker, former stockbroker, and convicted felon.

In 1999, he pled guilty to fraud and related crimes in connection with stock-market manipulation and running a boiler room as part of a penny-stock scam. Belfort spent 22 months in prison as part of an agreement under which he gave testimony against numerous partners and subordinates in his fraud scheme. Continue reading “Author: Jordan Belfort”

Article: DoorDash scam found to be fraudulently charging people who didn’t even have the app

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DoorDash scam found to be fraudulently charging people who didn’t even have the app

Becky Robertson, 27 January 2021

An exposé from the CBC found multiple citizens across six provinces including Ontario had been charged, even those who live in remote areas where DoorDash isn’t even offered.

It also seems that many of the targets weren’t even existing DoorDash customers, making the methodology of how the fraudsters got their banking info all the more sketchy.

The origins of the scam and who is behind it have yet to come to light, but DoorDash has said that it is taking the situation very seriously and has worked with TD to resolve the issue through reimbursements.
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Article: CleanSpark Investors: Company Investigated by the Portnoy Law Firm

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CleanSpark Investors: Company Investigated by the Portnoy Law Firm

GLOBE NEWSWIRE, 19 January 2021

The Portnoy Law Firm advises CleanSpark, Inc. (“CleanSpark” or the “Company”) (NASDAQ: CLSK) investors that the firm has initiated an investigation into possible securities fraud, and may file a class action on behalf of investors.

Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: lesley@portnoylaw.com, to discuss their legal rights, or click here to join the case via www.portnoylaw.com. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.

The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors concerning whether the Company fabricated key elements of its business.
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Article: Palantir Technologies inc PLTR: A fraud since 2003?

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Palantir Technologies inc PLTR: A fraud since 2003?

MMa2019, 25 November 2020

Palantir has not made a profit since 2003. It is a software company that offers a product called ”Gotham” for the defense and intelligence sector, another product called ”Foundry” sold to the private sector. Both products run on a SaaS infrastructure called Apollo and use Amazon’s web services (AWS) as their PaaS. In 2015, during a promotion tour for his book “Zero to One”, Peter Thiel, the founder of Palantir explains to the audience that one should be wary of “buzz words”:
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Article: ACM Research (ACMR): Dirty Business

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ACM Research (ACMR): Dirty Business

J Capital, 08 October 2020

We believe ACM Research (ACMR) is a fraud, over-reporting both revenue and profit. What real profit the company has is apparently being siphoned off to related parties.

ACMR faces a cash crunch even with a reported $86 mln in the bank. ACMR is borrowing at high rates of interest, and the company is pushing to IPO substantially all the company assets in Shanghai in order to raise cash. This will significantly dilute U.S. investors.

We visited ACMR sites in China, Korea, and California, accessed credit reports on ACMR subsidiaries, reviewed ACMR’s exchanges with Shanghai regulators, and conducted more than 40 interviews.
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Article: ACM Research accused of fraud by short-seller J Capital

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ACM Research accused of fraud by short-seller J Capital

ACMR, 08 October 2020

In a short report published on its website, J Capital Research’s Anne Stevenson-Yang said “We believe ACM Research (ACMR) is a fraud, over-reporting both revenue and profit. What real profit the company has is apparently being siphoned off to related parties… We have evidence that undisclosed related parties are diverting revenue and profit from the company Key means by which ACMR tunnels over-reported profit out of the company may be through about $20 mln in overstated inventory costs and through cash that is inflated or just compromised. We think least $11 mln in warranty and service costs are understated.
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Article: NAMASTE: CITRON HAS EXPOSED COMPLETE FRAUD THAT UNDERPINS THE ‘BUSINESS’ OF NAMASTE.

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NAMASTE: CITRON HAS EXPOSED COMPLETE FRAUD THAT UNDERPINS THE ‘BUSINESS’ OF NAMASTE.

Citron Research, 04 October 2020

Let us start by explaining to readers that in our 17 years of publishing, Citron has exposed more corporate fraud than any non-government agency in the world. Rarely in its history has Citron seen a fraud so blatant: for context, we honestly view Sean Dollinger as a walking securities violation. If Namaste was a US traded company it would be halted and Dollinger would probably face criminal charges. Citron hopes that in the best interest of protecting investors, the TSXV halts trading until questions can be answered relating to direct fraud that is illustrated in this report. This will most certainly reach the hands of Namaste’s new auditors (which have joined at an odd time).
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Article: The Dark Side of Delicious: Decoding Food Delivery Fraud on the Dark Web

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The Dark Side of Delicious: Decoding Food Delivery Fraud on the Dark Web

Amarelle Wenkert, 17 August 2020

In more ways than one, scamming a food delivery service is gateway fraud. Remember when ordering pizzas to the address of an unsuspecting victim was a staple of youthful mischief? Some of the popular food delivery fraud MOs our analysts encounter these days are not far removed from childhood pizza pranks. But what some forms of food fraud lack in sophistication, they offset in the mounting losses they cause.

From the simple practice of ordering a meal, “disposing of the evidence,” and calling to claim a refund because your food never arrived, to more complex account takeover (ATO) scams orchestrated by seasoned fraudsters, food delivery often comes with a side of fraud. A lot of what we know about food delivery fraud we discover on the dark web, where fraudsters brag about their spoils and share tips on how to hustle a hot meal. In this blog post, I’ll explore why the sector is attracting so much fraudulent activity and how it is affected by the rising ATO trend. I’ll also share the most popular MOs Riskified analysts identified on the dark web.
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Article: Block & Leviton Investigates HEXO Corp. For Possible Fraud; Investors Who Lost Money Should Contact The Firm

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Block & Leviton Investigates HEXO Corp. For Possible Fraud; Investors Who Lost Money Should Contact The Firm

GLOBE NEWSWIRE, 17 March 2020

Block & Leviton LLP (www.blockesq.com), a National Securities Litigation law firm, is investigating whether HEXO Corp. (HEXO) misled its shareholders. Investors who have lost money should contact the Firm for a free case evaluation. On March 17, 2020 HEXO announced that it would delay the release of its second quarter 2020 financial results to record a significant impairment charge and to amend its MD&A disclosures for its first and second quarter to address concerns raised by the Ontario Securities Commission. HEXO’s common stock is down more than 30% in early trading. “The company’s announcement is concerning; we are focused on the potential recovery of investor losses,” said Mark Delaney, the Block & Leviton attorney leading the investigation.
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Article: This Top-Performing Pot Stock Was Accused of Fraud

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This Top-Performing Pot Stock Was Accused of Fraud

Sean Williams, 19 December 2019

It’d be pretty fair to say that this is not how marijuana stock investors envisioned 2019 would go. After beginning the year on a (pardon the pun) high note, with more than a dozen pot stocks gaining in excess of 70% during the first quarter, the past 8.5 months have been nothing short of a train wreck.

To our north, Canada has struggled with the regulatory aspects of establishing a legal weed industry. Health Canada has been slow to approve cultivation, processing, and sales license applications, while Ontario, the most populous province, hasn’t approved retail store licenses in a timely manner. Meanwhile, high tax rates and a Swiss-cheese-like state-level approval process has constrained marijuana sales in legal U.S. states. In essence, the black market is thriving throughout North America.
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Article: Toronto Transit Commission settles benefits fraud lawsuit

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Toronto Transit Commission settles benefits fraud lawsuit

Staff , 15 November 2019

The Toronto Transit Commission has settled a 2016 lawsuit against its insurer for the alleged failure to detect a benefits fraud scheme involving orthotics store Healthy Fit Inc. To date, 10 people — nine former TTC employees and Healthy Fit owner Adam Smith — have been convicted in relation to the scheme. More than 250 TTC employees resigned or retired to avoid dismissal, or were dismissed outright, while an additional 14 were disciplined. “While terms of the settlement are confidential, the TTC is pleased to see this matter resolved in a way that allows both companies to move forward with a renewed commitment to preventing benefits fraud and penalizing those who commit it,” the TTC said in a press release.
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Article: Food delivery service DoorDash announces data breach affecting 4.9 million people

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Food delivery service DoorDash announces data breach affecting 4.9 million people

William Turton, 27 September 2019

The food-delivery service DoorDash Inc. announced Thursday that a security breach exposed the personal data of about 4.9 million customers, merchants, and delivery workers.

The information that was accessed could include driver’s license numbers of approximately 100,000 of its delivery workers, the San Francisco-based company said in a statement. Other data accessed may include “names, email addresses, delivery addresses, order history, phone numbers,” the company said.
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Article: How to Check if You’re Affected by the DoorDash Hack That Leaked the Data of 4.9 Million Users

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How to Check if You’re Affected by the DoorDash Hack That Leaked the Data of 4.9 Million Users

AARON HOLMES, 27 September 2019

Delivery service DoorDash suffered a data breach earlier this year that affected the information of 4.9 million users, delivery workers, and restaurants, DoorDash announced Thursday afternoon.

The breach occurred on May 4, and affects people who started using the app before April 5, 2018.

As a result of the breach, an unauthorized third party was able to gain access to users’ profile information, including names, email addresses, delivery addresses, order history, and phone numbers.
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