Amazon Merchants Hit by Extensive Six-Month Fraud

Amazon.com Inc. was hit by an “extensive” fraud, revealing that unidentified hackers were able to siphon funds from merchant accounts over six months last year. Amazon believes it was the victim of a “serious” online attack by hackers who broke into about 100 seller accounts and funneled cash from loans or sales into their own […]

This Founder Just Agreed to Pay $17 Million To Settle a Fraud Charge. Now He’s Heading an AI Startup

Fake it until you make it, the old adage goes. The founder of Palo Alto-based Jumio, a mobile payments identification maker, has been called out by the Securities and Exchange Commission for taking it too far. On Tuesday, the SEC said former Jumio CEO Daniel Mattes has agreed to pay over $17 million to settle […]

Former Cisco Employee Arrested, Charged With $9.3 Million Wire Fraud

An ex-employee at Cisco Systems was arrested on Tuesday at San Francisco International Airport, according to the San Francisco Chronicle. The charge? Allegedly defrauding the San Jose, Calif.-based hardware conglomerate to the tune of more than $9.3 million. Prithviraj R. Bhikha was arrested on one very expensive count of wire fraud. Bhikha, whose employment with […]

Theranos Founder Elizabeth Holmes Thinks She Has a Chance at Redemption

While she faces federal fraud charges and up to 20 years in prison, Elizabeth Holmes thinks people will give her another shot if they can hear her side of the story. The founder of blood-testing startup Theranos, who raised more than $700 million from investors for technology that was little more than a pipe dream, […]