Latest news with #WireFraud
Yahoo
06-05-2025
- Business
- Yahoo
Guilford County man pleads guilty to $20M Ponzi scheme, tax fraud: USDOJ
WINSTON-SALEM, N.C. (WGHP) — A Summerfield man pleaded guilty Tuesday to several tax crimes, according to the U.S. Department of Justice. William Lamar Rhew, III, of Summerfield, pleaded guilty to wire fraud, money laundering, securities fraud, tax evasion and failure to file a tax return in connection with a $20 million Ponzi scheme. Court documents show that from November 2017 to December 2023, Rhew defrauded at least $24 million from at least 117 investors by persuading victims to invest in his company, Chadley Capital, LLC, which would allegedly buy accounts receivable at a discount, sell them for a profit and provide consistently high rates of return on investment. Instead of investing victims' funds as promised, Rhew allegedly used their money to fund personal expenses, including a boat, beach house and luxury car. Rhew also used that money to make 'interest' and 'withdrawal' payments to other investors. Rhew also allegedly and willfully failed to report nearly $9 million in income to the IRS. Rhew has agreed to pay $14,868,815.67 in restitution to the victims and $3,056,936 to the IRS. Sentencing is scheduled for Aug. 22, 2025 at 2:30 p.m. in Winston-Salem. Rhew faces a maximum sentence of twenty years in prison. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. For the latest news, weather, sports, and streaming video, head to FOX8 WGHP.
Yahoo
21-02-2025
- Business
- Yahoo
Couple hoping to save others from the fate they suffered: $38,000 lost in a home escrow wire fraud
The Brief Matthew and Stefanie Brock lost $38,000 in a Home Escrow Wire Fraud scam after a fraudster hacked into their email and impersonated their title company. Despite reporting the fraud to their bank, the FBI, and the Secret Service, they were only able to recover $5,000, while authorities continue investigating. The Brocks are now raising awareness about real estate scams, urging homebuyers to verify wire instructions directly with trusted professionals to avoid similar fraud. ORLANDO, Fla. - A scam targeting people going after the American Dream has been happening more and more. People looking to buy a home are getting duped out of tens of thousands of dollars. The backstory Matthew and Stefanie Brock can add themselves to that list. "We rode the rollercoaster from the highest high to the lowest low," Matthew told FOX 35. The Brocks are feeling the way a lot of people do after realizing they've been scammed. "I don't know what the word I'm looking for is," Stefanie said. "Shame, maybe." Let's back up a little. Matthew Brock is a part-owner of a food village in Lake Wales. It's got a burger joint, a taco stop, a pizza place, and a beer garden all right there. With a baby on the way, the Brocks decided they wanted a home closer to Matthew's work… somewhere with enough space for their little boy to grow. "We came out here immediately and fell in love with the house," Matthew said. "It's perfect for us." So they worked everything out with the banks, wired $38,000, and headed over to get the keys. "One of the happiest days of our life, on our way to the closing," Matthew remembered. But as they were headed over, the title company called to tell them the money never went through. The Brocks were frantic. "So many different emotions," Stefanie recalled. "Thinking, 'There had to have been some kind of mistake. Like, it's there somewhere.'" And suddenly, it all clicked into place. "When we find out that it was fraudulent," Stefanie said, "it's like everything just sinks. Like you feel the blood just drained from your body." The Brocks fell victim to what's called a Home Escrow Wire Fraud. The wiring instructions from the Orlando-based law firm handling the Brocks' title trust account say right up top, "Never trust wiring instructions via email. Always call verbally to confirm." Stefanie had actually seen those instructions before - she'd sent the title company earnest money earlier on in the home-buying process. But the wiring instructions Stefanie got when it came time to send the down payment had no disclaimer up top. And those are the instructions she followed this time. Someone had hacked into Stefanie's email and impersonated the title company. She'd been emailing with a fraudster for weeks. "We were destroyed," Matthew said. They filed fraud reports with their bank, and the bank they wired the money to in North Carolina. They didn't get much help in the end from either, since they'd sent the money willingly. And actually holding someone accountable isn't as easy as you might hope. The North Carolina bank even spotted someone they think might be the fraudster. "I just got a phone call. 'He's in a branch right now trying to take money out and he's wondering why he can't get the money,'" Brock recounted. "I'm like, 'Call the police. Get this guy!'" The Brocks and their title company reported this to the FBI. The Secret Service did wind up taking the case up for a bit and got them back $5,000 the scammer hadn't withdrawn from the account yet. What they're saying Now, Lake Wales Police are looking into it, and they think they have some leads. For their part, the Brocks are trying to protect others. "We had this awful moment happen," Matthew said. "How do we turn it into something positive? And my thought was: awareness." The North Carolina bank declined to comment on this. But the Brocks' bank, Truist, told FOX 35 scams like this are on the rise. They said in a statement, "To help avoid the potentially devastating effects of becoming a fraudster's next victim, we encourage consumers to be vigilant in protecting their funds and personal information, including independently verifying any wire instructions sent via email or by phone with a verified source or a phone number found on the title company's website or other official correspondence." The title company the Brocks used also had some advice about avoiding scams: Before you send any money, verify all wire instructions directly with your trusted professionals. Be cautious of last-minute changes. Be leery of any urgent requests to wire money quickly. If you believe you've been scammed, contact your bank immediately to try and stop the wire transfer. And of course, report suspicious activity to local law enforcement and the FBI. STAY CONNECTED WITH FOX 35 ORLANDO: Download the FOX Local app for breaking news alerts, the latest news headlines Download the FOX 35 Storm Team Weather app for weather alerts & radar Sign up for FOX 35's daily newsletter for the latest morning headlines FOX Local: Stream FOX 35 newscasts, FOX 35 News+, Central Florida Eats on your smart TV The Source The information in this article comes from reporting done by FOX 35's Marie Edinger.
