01/27/2009 - Nicholas Cosmo, founder of Agape World Inc. in Hauppauge, New York, swindled investors out of more than $370 million and used the money to pay for limousines, fund a baseball league and pay off a restitution order from an earlier fraud, U.S. authorities said.

Live Oak insurance agent Donald Eugene Bullock, 44, of 10216 129th Road, was arrested Thursday on a charge of insurance fraud, jail records show.
Bullock was also charged with two counts of filing a false claim and with scheme to defraud.
Bullock has been arrested three times since March 2007 on charges including embezzlement, grand theft, forgery, [...]

U.S.-based insurer State Farm Insurance Co has terminated its contract with fraud-hit Satyam Computer Services Ltd (SATY.BO), a spokeswoman for the Indian outsourcer said on Monday.
Confirming a report in the Mint newspaper, she said Satyam would issue a statement later on Monday.
Satyam, India’s No. 4 software services exporter, has been battling for survival since Ramalinga [...]

A 35-year-old Newark man was sentenced Friday to three years’ probation for trying to collect on a $25,000 life insurance policy by pretending that his 7-year-old son had died in North Carolina of an asthma attack.
 Anthony Myers Sr. pleaded guilty in December in state Superior Court, Morristown, to committing insurance fraud from March 21 to [...]

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