Fraud |

British Man Pleads Guilty in New York to $99 Million Wine Fraud

A British national pleaded guilty on Tuesday in Brooklyn federal court for his role in a fraud scheme that took nearly $100 million from victims who funded loans to fake wine collectors, Reuters said.
photo credit “Gisele Bundchen-003 (16251945946)” by Renan Katayama, via Wikimedia Commons, licensed under CC BY-SA 2.0., edited

Brazilian Fraudsters Used Celebrity Deepfakes to Reap Millions

Police in southern Brazil have arrested four people accused of running a nationwide Instagram ad scam that used AI-generated videos and images of supermodel Gisele Bündchen and other celebrities, Reuters reported.
Money Laundering Tied to Pig-Butchering Scams is Increasingly Sophisticated, Report Finds

Pig-butchering schemes have scaled into a multibillion-dollar criminal industry, according to a new report by blockchain analytics firm Elliptic cited by CoinDesk.