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Monthly archive for August 2016

New Jersey Electronics Companies Owner Sentenced to 70 Months for Smuggling Sensitive Material to Russia

Cinnaminson, NJ-  From 2008 to 2014, Alexander Brazhnikov of Newark, NJ made over $4 million in undeclared profits and amassed $600,000 in assets as owner of four microelectronics companies.  Brazhnikov smuggled over $65 million worth of sensitive electronics to Russia, using his four companies as shells.  Following sentencing in a federal

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Former MCC Construction Owner Pleads Guilty to Conspiracy to Defraud, MCC Made Over $70 Million in Fraudulent Gains

Cinnaminson, NJ-  From 2008 to 2011, MCC Construction Company worked with two other construction firms to acquire illegally fulfill their contracts, resulting in over 27 ill-gotten contracts and $70 million in fraudulent profit.  Walter Crummy, former CEO of the construction firm, has now pleaded guilty to a federal charge

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Three More Companies Plead Guilty to Fixing Prices of Electrolytic Capacitors

Cinnaminson, NJ-  In a recent development in a deepening global scheme to fix prices of electrolytic capacitors, highly specialized capacitors central to the automotive industry, three more companies have agreed to plead guilty to conspiracy to alter the market.  The U.S. District Court in San Francisco reports

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EDLA: New Orleans Businesswoman Schemes over $2 million from Medicare, Facing 80 months

Cinnaminson, NJ-  Charged with 18 counts of healthcare fraud, Tracy Richardson Brown, 46, is facing 80 months in prison, along with a $2,004,391.63 recitation fee.  The New Orleans native owned Psalms 23 DME LLC paid patient recruiters for names and medical statuses of Medicare beneficiaries and fraudulently billed Medicare for their

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California Man Runs Phony Investment Firm, Embezzles $800,000 from First Duped Client

Cinnaminson, NJ-  Nicholas M. Mitsakos, of San Francisco, faces fraud charges in the Southern District of New York for falsely advertising his investment firm, duping his first customer.  Mitsakos ran Matrix Capital Markets, a customer-free startup that Mitsakos marketed as a firm run by experienced money managers with millions

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Connecticut Cardiologist Charged with Insider Trading Surrounding Confidential Drug Trial Results

Cinnaminson, NJ-  Connecticut cardiologist Dr. Edward Kosinski has been charged with insider trading surrounding two negative news developments on a drug he invested in.  Prior to news breaking regarding patients having life-threatening reactions to REG-1 (the drug), Kosinski sold all 40,000 shares he owned, dodging a $160,000 loss.  One

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WDTX: Janitorial Service Owner Convicted of Four Counts of Filing False Tax Returns, Impeding IRS

Cinnaminson, NJ-  Victor Antolik, owner of a commercial janitorial service that operated under over five different company names, has been convicted in the Western District of Texas for four counts of filing false tax returns and impeding the IRS.  Apart from underreporting income in tax years of 2004, 2007, and 2008,

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MDNC: Online Business Owners Plead Guilty to Bank and Tax Fraud, Fail to Report Over $1 Million

Cinnaminson, NJ-  Owners of a North Carolina-based online sales business have been charged with one count of filing a false return and two counts of making false statements on a loan application.  As the owners of Southern Shores Online, Daniel Balson (51) and Renee Balson (53), failed to

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CDCA: Los Angeles Man Charged for Stashing Over $21 Million in Undeclared Israeli Bank Accounts

Cinnaminson, NJ-  After stashing over $21 million in untaxed revenue in Israeli bank accounts, Masud Sarshar, a Los Angeles retailer, has been charged with “one count of conspiracy to defraud the United States and one count of corruptly endeavoring to impair and impede the due administration of the internal

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Jacintoport LLC and Seaboard Marine Ltd to pay $1.075 Million in False Claims Settlement

Cinnaminson, NJ-  Contracted by the U.S. Government for freight housing and maritime transport, respectively, Jacintoport International LLC and Seaboard Marine Ltd have agreed to pay $1.075 million jointly for False Claims allegations.  Jacintoport, a warehousing and stevedoring firm, and Seaboard Marine, a cargo shipping company, were purchase by

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