Former Spring Lake Director of Finance Arrested for Embezzling Nearly Half a Million Dollars in Taxpayer Money
The former finance director of the town of Spring Lake was arrested Friday on charges of embezzlement, bank fraud, and aggravated identity theft.
Officials told WRAL News 63-year-old Gay Cameron Tucker stole more than $500,000 from the Town of Spring Lake.The misuse of funds dates back to 2016.
State Treasurer Dale Folwell says it all took place during Tucker’s tenure as finance director and accounting technician for the town.
Hanwha Employees Sued for Trade Secret Leak over Battery Equipment
Around ten employees of the Hanwha’s battery equipment business unit had been sued for allegedly leaking design drawings that they took from their former company, people familiar with the matter said.
Hanwha’s battery equipment business unit currently makes equipment for mixing, electrode, assembly and formation processes as well as for automation and logistics.
Reckitt Wins Trade-Secrets Trial over Premature-Ejaculation Spray
British consumer-goods giant Reckitt Benckiser LLC did not steal trade secrets from a small pharmaceutical company to make its K-Y-branded premature ejaculation spray, a jury said in a verdict made public Thursday in New Jersey federal court.
The jury concluded Wednesday after a four-week trial that Absorption Pharmaceuticals LLC did not show that the information at issue was entitled to trade-secret protection, or that Reckitt committed fraud during negotiations about potentially acquiring the company.
Great Falls Woman Sentenced for Embezzling $630K+
Prosecutors alleged that in 2013, M&D Construction hired Lopez as a bookkeeper/accountant for the business. Lopez was given access to M&D’s bank account and was given administrator permission over M&D’s QuickBooks account.Between January 2017 and January 2020, Lopez reportedly charged more than $630,000 on her personal credit card accounts. Her expenses focused mostly on consumer shopping and travel, and included more than $80,000 on purchases from Amazon, more than $115,000 on general retail purchases, more than $46,000 on clothing, more than $57,000 on travel, more than $34,000 on restaurants, more than $24,000 on beauty products, more than $12,000 on furniture, and more than $7,000 on plastic surgery. None of these purchases was related to M&D’s business operations.
Ex-Church Treasurer Charged with Embezzling over $150K
Winston-Salem police began investigating after board members of Covenant Presbyterian Church went to the police in November. Investigators with the police department’s fraud unit found that Davis had embezzled a total of $156,118 from Covenant between 2014 and October 2021, police said.
Terraform Labs Facing Embezzlement Probe Following TerraUSD Collapse
South Korean law enforcement agencies are investigating Terraform Labs following last month’s collapse of its controversial algorithmic stablecoin, TerraUSD (UST), according to a report by the Financial Times.
Terra held $3.5 billion worth of Bitcoin (BTC) in its reserves, in a failed attempt to stabilize the price of UST.
Terraform cofounder Daniel Shin denied allegations of fraud, telling the FT that there was “no intention of deception” and that the company wanted to innovate the payment settlement system using blockchain technology.