FraudCast


Welcome to the Pondera FraudCast, where we post information on fraud trends, lessons learned from client engagements, and observations from our investigators in the field. We hope you’ll check back often to stay current with our efforts to combat fraud, waste, and abuse in large government programs.

Nigerian Email Fraud

Nigerian Email Fraud

January 18, 2018

In December, a 67-year-old Louisiana man was charged with 269 counts of money laundering for serving as a middle man in a Nigerian Internet scam. These scams, which everyone with an email account has encountered, promise large sums of money from inheritance or from a “prince” trying to leave the country in exchange for your […]

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Skimmer Fraud

Skimmer Fraud

January 8, 2018

I read with great interest a recent article about card skimmers that were found at “The Stop and Shop” gas station where I often fill up my tank. While they were discovered relatively quickly, more than a dozen customers were scammed. Several of them had their entire bank accounts wiped out. Skimmers, for those of […]

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Social Security Fraudster Captured in Honduras

Social Security Fraudster Captured in Honduras

December 13, 2017

Several months ago, we wrote a post about the self-proclaimed “Mr. Social Security”, Kentucky attorney Eric Conn, who fled prosecutors in the face of a 12-year prison sentence. Conn had concocted a scheme where he bribed a judge and a psychologist to defraud the Social Security Administration out of $550 million. The colorful Mr. Conn […]

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The Booming Armored Car Industry

The Booming Armored Car Industry

November 22, 2017

At a time when people are replacing credit cards and ATMs with their smart phones, it seems that California is recommending increased use of armored cars. The reason? On January 1st, recreational marijuana will be legal in California but still illegal at the federal level requiring marijuana business to pay their sales taxes in cash. […]

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Student Loan Fraud

Student Loan Fraud

November 16, 2017

Anyone who has recently attended college or has a family member in college likely has some familiarity with student loans. In fact, 40 million Americans currently have student loans totaling an astounding $1.2 trillion dollars. Many of those who have applied for loans have been victimized by methods such as “advanced fee scams” that promise […]

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Ebola Relief Fraud

Ebola Relief Fraud

November 13, 2017

As a country, we have become accustomed to reading stories about fraud in healthcare, financial services, and government programs. It doesn’t make it right, but it’s certainly not new. Now though, news comes from the American Red Cross that $5 million of Ebola relief funds were fraudulently disbursed on overpriced supplies, fake customs bills, and […]

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A Reminder of Government’s Important Role in Helping Americans

October 30, 2017

Regular readers of this blog know that we often focus our comments on the fraud and abuses in government subsidy programs. Our intent is almost always to point out solutions that can make these programs more effective, rather than to question the existence of the programs altogether. In fact, most Pondera employees worked for government […]

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Pondera’s Modified Bucket Theory

Pondera’s Modified Bucket Theory

October 20, 2017

I once worked for a manager that operated under what he called his “Bucket Theory”. His theory went like this: hire successful people, throw them in a “bucket”, and see who can climb their way out. Those that did, he explained, were the type that could succeed at this particular tech company. Those that couldn’t […]

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Flying Pigs with Unicorn Horns

Flying Pigs with Unicorn Horns

October 16, 2017

Earlier this week, I was surfing one of Pondera’s internal messaging boards when I came across a photo of some painted rocks depicting flying pigs with multi-colored unicorn horns. It seems that one of our investigators is also a part-time artist. I must admit that I was confused by the subject matter. This is the […]

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Disturbing Reports of Dentists Committing Medicaid Fraud

Disturbing Reports of Dentists Committing Medicaid Fraud

October 4, 2017

A recent spate of high profile arrests of dentists is drawing attention to an often-overlooked segment of Medicaid fraud. Some unscrupulous dentists are exploiting gaps between what private insurers reimburse versus what Medicaid will pay for. Others are just brazenly breaking the law to rip off state Medicaid programs. Consider these recent charges brought against […]

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