Sugar Executive Charged With Stealing $28 Million From Mars Inc.
Sugar Executive Charged: Paul Steed, a respected sugar market expert for Mars Inc., has been arrested and charged with stealing over $28 million from the candy giant. The 58-year-old from Stamford, Connecticut, stands accused of embezzling funds since 2013 through various fraudulent schemes. The Allegations Against Steed Steed, a dual U.S. and Argentine citizen, faces seven counts of wire fraud and two counts of tax evasion. Federal prosecutors allege that he diverted company funds to personal companies he set up, including Ibera LLC and MCNA LLC. From 2012 to 2020, Steed submitted false invoices from Ibera LLC to Mars, allegedly stealing nearly $580,000. Later, in 2016, Steed used MCNA to reroute millions of dollars from Mars, including over $11 million from the sale of Mars’s shares. Sugar Executive Charged Steed’s Lifestyle and Assets Steed’s lavish lifestyle raised red flags. Despite earning a $200,000 annual salary, he and his wife, Martina, lived beyond their means. They paid $2.5 million in cash for a Greenwich, Connecticut, property in 2023, and owned a $1 million home in Stamford. The judge’s detention order also revealed that Steed sent $2 million to Argentina over several years. He reportedly owns a cattle and tea ranch there. Mars Responds to Allegations Mars Inc. issued a statement condemning Steed’s actions as a betrayal by a single individual. The company emphasized its cooperation with law enforcement to resolve the issue swiftly while reaffirming its commitment to ethical standards in all its operations. Steed’s Role in the Industry Before his arrest, Steed was a key figure in the sugar industry. He served on various industry boards, including the U.S. Agriculture Trade Advisory Committee for Sweeteners, and was a former president of the New York Sugar Club. Legal Proceedings Steed pleaded not guilty in federal court in Bridgeport and was ordered detained pending trial. The government has seized $18 million of the stolen funds, but several million dollars remain unaccounted for. Stay Updated: For breaking news on corporate fraud and legal cases, visit JacobiJournal.com. Read More Articles: Source: Insurance Journal – Full Article Subscribe Now!Get the latest updates on fraud cases and industry news. Subscribe to JacobiJournal.com for real-time alerts delivered to your inbox.
Texas Medicaid Insurer: Probed for Alleged Surveillance
March 28, 2025 – Texas Medicaid Insurer: Texas Attorney General Ken Paxton has launched an investigation into Superior HealthPlan, a Medicaid insurance provider, after allegations surfaced that the company illegally spied on lawmakers, journalists, and private citizens. Allegations of Blackmail and Surveillance Superior HealthPlan, which offers Medicaid and Children’s Health Insurance Program (CHIP) coverage in Texas, allegedly used private investigators to perform surveillance and gather confidential information. The targets included lawmakers and other influential Texans. Paxton expressed concern that the company’s actions aimed to blackmail lawmakers to secure state contracts and avoid paying legitimate claims. Texas Medicaid Insurer CEO Questioned, Then Fired On Wednesday, Superior HealthPlan CEO Mark Sanders testified before the Texas House Committee on the Delivery of Government Efficiency. He admitted that the company had used private investigators but claimed they had stopped the practice years ago. However, after intense scrutiny from lawmakers, Sanders was fired on Thursday, according to the Dallas Morning News. Lawmakers Condemn Superior’s Actions Lawmakers expressed outrage over the company’s conduct. State Rep. Tony Tinderholt (R-Arlington) called the practice “disgusting.” Similarly, Rep. David Cook (R-Mansfield) questioned why Superior HealthPlan investigators had looked into legislators’ divorce records. Sanders failed to provide a clear explanation. “We’re talking to a company that received billions in taxpayer funds through Medicaid contracts,” said Rep. Ellen Troxclair (R-Lakeway). “That money was used to hire private investigators to follow patients and legislators. It’s ridiculous.” Bill Filed to Prohibit Surveillance by State Contractors In response, state Rep. Jeff Leach filed House Bill 5061 earlier this month. The bill seeks to prohibit any state contractor from engaging in surveillance, aiming to prevent similar incidents in the future. Impact on Texans’ Medicaid Coverage Tiffany Young, a spokesperson for Texas Health and Human Services, referred questions about the investigation’s impact on Medicaid coverage to Paxton’s office. However, the attorney general’s office has yet to respond to inquiries. ➡️ Stay Updated: For the latest developments on insurance fraud and state investigations, visit JacobiJournal.com. 🔎 Read More Articles: 🔗 Source: The Texas Tribune – Full Article 📢 Subscribe Now!For more updates on Medicaid investigations and policy changes, subscribe to JacobiJournal.com and receive real-time news and analysis directly in your inbox.
SEC Enforcement Priorities Shift Under New Leadership
The U.S. Securities and Exchange Commission (SEC) is shifting its focus back to traditional enforcement cases under its new leadership, emphasizing individual accountability and protecting vulnerable investors. Sam Waldon, the agency’s acting enforcement director, highlighted this shift during a securities industry event on Monday. Shift Away from Novel Enforcement Theories In recent years, the SEC explored novel enforcement theories, including the groundbreaking 2021 “shadow trading” case, which resulted in a successful conviction. However, with Republicans taking control of the agency in January, the SEC has moved away from pursuing such innovative approaches. “Creativity is probably not where we want to be,” Waldon stated, indicating a return to established enforcement priorities such as insider trading, accounting fraud, and cases involving disclosure violations. Emphasis on Individual Accountability Waldon stressed that cases focused on individual wrongdoing would take center stage. “It’s always a priority, but I do think that those are cases that are going to be received better by this commission,” he added. This signals a renewed focus on holding individual violators accountable for financial misconduct. Focus on Retail Investor Fraud and Emerging Technologies In addition to insider trading and disclosure fraud, the SEC will remain vigilant about protecting retail investors and addressing fraud involving emerging technologies. As technology-driven financial platforms expand, the agency is expected to monitor these developments closely. Cryptocurrency Enforcement Eases Since January, the SEC has softened its stance on cryptocurrency enforcement, pausing or dropping several high-profile cases against cryptocurrency firms. The agency also scaled back its enforcement staff’s ability to initiate formal investigations without obtaining commission approval. When questioned about the impact of this change, Waldon downplayed concerns. “It’s too early to tell,” he remarked, suggesting that formal approvals may still be granted through streamlined processes. Paul Atkins to Testify Before Congress Paul Atkins, appointed by former President Donald Trump to lead the SEC, is set to testify before Congress on Thursday. Industry experts anticipate that Atkins will advocate for policies that provide Wall Street with more regulatory relief. ➡️ Stay Informed: For the latest updates on financial regulations and enforcement trends, visit JacobiJournal.com. 🔎 Read More Articles: 🔗 Source: U.S. Securities and Exchange Commission – Official Website 📢 Subscribe Now!For exclusive insights and in-depth analyses of regulatory changes, subscribe to JacobiJournal.com today! Stay ahead of the curve with timely updates and expert commentary. jacobijournal.com/subscribe/↗
Indianapolis Arson: 22-Year-Old Charged in Home Fire
The Marion County, Indiana Prosecutor’s Office has filed arson charges with intent to commit fraud against 22-year-old Gurpreet Singh, the Indianapolis Fire Department announced this week. Fire Incident Overview Date and Time:On April 22, 2024, at 11:16 PM, the Indianapolis Fire Department (IFD) responded to a residential fire in the 5700 Block of Tart Boulevard. Upon arrival, firefighters encountered heavy fire coming through the roof. Due to the severity of the blaze, the commander ordered defensive operations only. Firefighters brought the fire under control within 50 minutes. Occupant Status:The occupant was not home at the time of the fire. Investigation and Findings Cause and Origin:Fire Investigation Units arrived at the scene to determine the fire’s cause and origin. After conducting a thorough investigation, they determined that the fire was incendiary and intentional, confirming it was an act of arson. Extensive Investigation:The investigation required multiple search warrants, interviews, and ongoing inquiries for several months. Eventually, investigators concluded that the homeowner, Gurpreet Singh, had intentionally set the fire to collect insurance money. The estimated loss from the fire was valued at $430,000. Indianapolis Arson Arrest and Charges Arrest Details:Authorities arrested Gurpreet Singh in Ohio and transported him back to Indianapolis, where he faces felony battery charges filed by the Marion County Prosecutor’s Office. In addition to battery charges, Singh is also charged with arson. Legal Status Singh remains innocent until proven guilty in a court of law. Source: Indianapolis Fire Department Read More: 📢 Stay Informed! Visit JacobiJournal.com for more updates on fraud investigations and legal news.
Trench Accident Penalty: Construction Company Cited $157,500
San Diego, CA – Trench Accident Penalty: The California Division of Occupational Safety and Health (Cal/OSHA) has issued $157,500 in citations to W. A. Rasic Construction for multiple safety violations following a fatal trench collapse. The tragic incident claimed the life of an employee working in an unprotected excavation. Incident Details and Investigation Findings What Happened:On August 28, 2024, at approximately 3:00 a.m., a worker was inside a 17-foot-deep trench when part of it collapsed. The collapse displaced a concrete pipe, which pinned and killed the employee. Cal/OSHA’s Findings:The investigation identified serious violations related to excavation and trench safety. The employer failed to protect workers from preventable hazards, resulting in the fatal incident. Trench Accident Penalty Cal/OSHA Chief’s Statement Cal/OSHA Chief Debra Lee emphasized the importance of workplace safety. She stated: “No worker should lose their life due to preventable safety failures. We will continue to enforce trench safety regulations, hold employers accountable, and work to ensure that safety standards are upheld to protect workers.” Violations Identified by Cal/OSHA Cal/OSHA cited W. A. Rasic Construction for the following safety violations: Employer’s Right to Appeal Employers have the right to appeal Cal/OSHA citations and penalties. They must file an appeal with the Occupational Safety and Health Appeals Board within 15 working days of receiving the citation. About Cal/OSHA Cal/OSHA safeguards workers from health and safety hazards in nearly every workplace in California. Employers and workers can contact Cal/OSHA’s Consultation Services Branch at 800-963-9424 for assistance with workplace safety programs. Workers’ Rights:All workers in California are protected regardless of immigration status. Workers with safety concerns can call 833-579-0927 to speak with a bilingual Cal/OSHA representative between 9:00 a.m. and 7:00 p.m. (Monday through Friday). Complaints about workplace hazards can be filed confidentially with Cal/OSHA district offices. Read More: 📢 Stay Informed! Visit JacobiJournal.com for the latest updates on workplace safety and legal developments.
Kickback Scheme Convictions: Court Reverses Majority Against Attorney
Los Angeles, CA – Kickback Scheme Convictions: A California appeals court overturned 33 of 37 felony convictions against attorney Jon Woods on Tuesday. The court ruled that prosecutors improperly charged him with a general crime that carried harsher penalties instead of a more specific, lesser offense. Appeals Court Cites Improper Charges The 4th District Court of Appeal determined that prosecutors violated the “Williamson rule.” This rule prohibits charging a defendant with a broader crime carrying a harsher sentence when a more specific, lesser offense applies. Consequently, the ruling drastically reduced Woods’ convictions and associated sentencing enhancements. Sentencing and Restitution Vacated As a result of the court’s decision, it reversed a white-collar sentencing enhancement. Additionally, it vacated a $700,000 restitution order that Woods was supposed to pay to 17 insurers. Only four convictions remain intact after the appeal. Kickback Scheme Convictions Background: Kickback Scheme and Conviction In August 2022, an Orange County jury convicted Woods on 37 felony counts of insurance fraud. The charges arose from a scheme where Woods referred copy and subpoena work in exchange for kickbacks or client referrals. In October 2022, the court sentenced him to four years in state prison. Moreover, he was ordered to pay restitution exceeding $700,000 to 17 insurers. Williamson Rule Prohibits Harsher Charges Woods argued that the Williamson rule should have prevented his conviction on most counts. The court agreed, noting that Counts 5 through 37 accused Woods of concealing or withholding information from an insurance company that affected entitlement to benefits. However, his conduct fell under a different legal provision, which classifies the same behavior as a misdemeanor offense for referring work to third-party services in exchange for compensation. Impact on Future Sentencing and Restitution With most convictions overturned, Woods’ sentence and restitution order must be reconsidered. Legal experts suggest that this decision underscores the importance of applying the correct statutory charges. Moreover, it highlights the consequences of charging defendants with broader crimes that impose harsher penalties. Read More: Texas Insurance Fraud Investigations Recover $58M in 2024California Body Shop Owner Charged with Insurance FraudFour Pharmacists Sentenced for Roles in $13M Fraud ConspiracyNY VA Firefighter Pleads Guilty to Workers’ Compensation Fraud Scheme 📢 Stay Updated! Visit JacobiJournal.com for the latest legal updates and fraud investigations.
Auto Insurer Root to Pay New York $975K Over Data Breach
New York, NY – Root to Pay New York: New York Attorney General Letitia James has secured $975,000 in penalties from auto insurance company Root after a data breach exposed the personal information of approximately 45,000 New Yorkers. Root Data Breach and Impact on New Yorkers Although Root does not offer insurance in New York, scammers accessed New Yorkers’ driver’s license numbers and personal information through the company’s systems. The data breach occurred as part of an industry-wide campaign to steal sensitive information from online auto insurance quoting applications. Thieves then used the stolen data to file fraudulent unemployment claims during the peak of the COVID-19 pandemic. Root to Pay New York Root Settlement Adds to Growing Penalties The Root settlement raises the total amount recovered by New York from auto insurers over data breaches to $6.57 million. Recently, New York secured: Additionally, last month, the attorney general sued Allstate Insurance for exposing the personal information of more than 165,000 New Yorkers. Attorney General Warns Companies About Poor Data Security “When companies have poor data security practices, they put individuals at risk of identity theft and fraud,” said Attorney General James while announcing the settlement. She stressed that auto insurers must strengthen their systems to protect driver’s license numbers, Social Security numbers, and other private information from cybercriminals. Root’s Vulnerability and Security Failures Root allowed consumers to obtain price quotes through its website. After users entered limited personal information, the system pre-filled sensitive data, including driver’s license numbers. At the end of the auto quote process, the system generated a PDF that displayed driver’s license numbers in plain text. Root’s Failure to Identify Risks In January 2021, Root identified that bad actors had exploited the system’s pre-fill vulnerability. However, the attorney general’s investigation revealed that Root: Settlement Terms and Enhanced Security Requirements As part of the settlement, Root will pay $975,000 in penalties and strengthen its data security practices to comply with New York’s data security guidelines. Root agreed to the settlement but did not admit or deny the attorney general’s findings. Read More: Texas Insurance Fraud Investigations Recover $58M in 2024California Body Shop Owner Charged with Insurance FraudFour Pharmacists Sentenced for Roles in $13M Fraud ConspiracyNY VA Firefighter Pleads Guilty to Workers’ Compensation Fraud Scheme 🚨 Stay Updated! Visit JacobiJournal.com for more news on cybersecurity and fraud prevention.
Europol Warns: AI is Fueling Organized Crime and Undermining EU Security
JacobiJournal.com – The Hague, Netherlands – Europol Warns: The European Union’s law enforcement agency Europol has warned that artificial intelligence (AI) is accelerating organized crime, posing a serious threat to the stability of the 27-nation bloc. Europol’s Serious and Organized Crime Threat Assessment 2025 highlights the growing intersection between cybercrime, AI-driven attacks, and state-sponsored destabilization campaigns. AI-Powered Cybercrime: A Growing Threat “Cybercrime is evolving into a digital arms race targeting governments, businesses, and individuals,” said Catherine De Bolle, Europol’s Executive Director, at the launch of the report. She emphasized that AI-driven attacks are becoming more precise and devastating, blending motives of profit and state-aligned destabilization. The report highlights a range of offenses fueled by AI, including: These activities generate illicit profits, spread violence, and normalize corruption, ultimately undermining the rule of law across Europe. Child Exploitation and AI-Driven Deception Europol Warns: AI has significantly increased the volume of child sexual abuse material (CSAM) available online, making it harder for law enforcement to identify offenders. Criminals now use AI-generated synthetic media to deceive victims, impersonate individuals, and blackmail targets. “The addition of AI-powered voice cloning and live video deepfakes amplifies the threat, enabling new forms of fraud, extortion, and identity theft,” the report warned. State-Sponsored Cybercrime Disguised as Organized Crime The report also underscores that state-sponsored actors are increasingly masking their activities by posing as cybercriminals to conceal their true motives. These actors often target critical infrastructure and public institutions. “Hybrid and traditional cybercrime actors will increasingly intertwine, with state-sponsored entities hiding behind criminal organizations,” the report noted. It cited cyberattacks originating from Russia and countries in its sphere of influence as prime examples. Real-World Impact: AI-Boosted Cyberattack on Polish Hospital Polish Interior Ministry Undersecretary of State Maciej Duszczyk cited a recent AI-powered cyberattack that forced a hospital in Poland to halt operations for hours. “This incident highlights how AI can boost the efficiency and reach of criminal operations,” he warned. Call for Urgent Action and Increased Funding As the European Commission prepares to launch a new internal security policy, Europol emphasized the need for urgent action. “We must embed security into everything we do,” said Magnus Brunner, European Commissioner for Internal Affairs and Migration. He added that the EU aims to double Europol’s staff in the coming years to strengthen law enforcement capabilities. The Future of AI and Crime The report concludes that AI and other emerging technologies are acting as catalysts for crime, amplifying the speed, reach, and sophistication of criminal operations. Key Takeaways for Policymakers For more updates on cybersecurity and AI-driven threats, visit JacobiJournal.com. Read More: 🚨 Stay Vigilant! Explore more insights at JacobiJournal.com and subscribe for real-time updates on organized crime and cybersecurity.
Detroit CBP Director Charged in FEMA Fraud Scheme
Allegations of FEMA Fraud Detroit CBP Director: Following severe flooding in Detroit in August 2023, Michigan secured a federal disaster declaration, allowing residents to apply for FEMA assistance. Baker-Hill applied for aid and a FEMA inspector confirmed damage to her basement. During the inspection, Baker-Hill claimed she could not safely remain in her home during repairs. As a result, FEMA approved funds for home repairs and two months of rental assistance. The approval letter explicitly stated that rental assistance funds were to be used solely for rent and essential utility expenses while Baker-Hill was in temporary housing. Misuse of FEMA Funds However, bank records revealed that Baker-Hill did not use any FEMA funds for rent, hotel stays, or utilities. Surveillance footage showed that Baker-Hill and her husband continued to reside in their home after receiving the rental assistance. Utility records also indicated no significant drop in usage, further suggesting that the property was occupied during this period. Detroit CBP Director False Statements to Federal Agents When interviewed by FBI and CBP Office of Professional Responsibility (CBP-OPR) agents, Baker-Hill denied any involvement in illegal activity and claimed she had never defrauded the U.S. government. Ongoing Investigation A federal complaint is merely an accusation and not evidence of guilt. The case is under investigation by the FBI Detroit Border Corruption Task Force and CBP-OPR, with assistance from the U.S. Department of Homeland Security – Office of Inspector General. Assistant U.S. Attorney Eaton P. Brown is prosecuting the case. A determination on whether to pursue a felony indictment will follow the completion of the investigation. Key Takeaways for Government Employees This case highlights the importance of accurate reporting and the consequences of misusing disaster relief funds. Federal agencies are cracking down on fraud, ensuring that aid reaches those who genuinely need it. For more updates on fraud investigations and government accountability, visit JacobiJournal.com. Read More: Stay Informed! 📢 Visit JacobiJournal.com for the latest legal updates and industry news. (Source: U.S. Attorney’s Office, Eastern District of Michigan)
Employee Denied Workers’ Compensation for TopGolf Injury
Virginia – Employee Denied Workers’ Compensation: An employee who claimed to have injured his knee during a TopGolf event sponsored by S&P Global failed to qualify for workers’ compensation benefits after the Virginia Workers’ Compensation Commission (VWCC) upheld the denial. Lack of Proof and Delayed Reporting The employee alleged that he hurt his knee on June 10, 2024, while attending a TopGolf event. He claimed that his right knee buckled on the first swing, causing a “popping sound” and pain. Despite the injury, he continued participating in the event, attended lunch, and played for another hour afterward. He testified that he informed his supervisor about the injury on the day of the event and mentioned it again during a team meeting and a one-on-one meeting weeks later. However, his supervisor, whom the deputy commissioner found credible, denied these claims. She testified that the injury was never reported until weeks later, after the employee’s termination. Supervisor’s Testimony Contradicts Employee’s Claims The supervisor stated that if the claimant had reported a work injury at the event or soon afterward, HR would have investigated and arranged for medical treatment. Instead, the employee waited over six weeks to seek medical care and reported the injury only on July 16, 2024, the same day his employment ended. Employee Denied Workers’ Compensation The claimant, who worked as a customer service specialist for S&P Global, argued that his delay in reporting should not affect the validity of his claim. However, the VWCC deputy commissioner ruled that the delay in reporting, failure to seek timely medical treatment, and lack of an incident report weakened his case. VWCC Affirms Deputy Commissioner’s Decision The claimant appealed to the full VWCC panel but maintained that the deputy commissioner placed too much emphasis on his supervisor’s contradictory testimony. He argued that her testimony was only relevant to notice and not whether an injury by accident occurred. The VWCC disagreed and upheld the original decision, emphasizing: “The Deputy Commissioner considered all of the evidence, including the claimant’s failure to report the incident, delay in seeking medical treatment, and failure to file an incident report until after termination. These factors were determinative in the decision,” the VWCC stated. Key Takeaway for Employers and Employees This case highlights the importance of timely reporting of workplace injuries and maintaining accurate documentation. Employees must report incidents immediately and seek prompt medical treatment to preserve their eligibility for workers’ compensation benefits. For more updates on workers’ compensation cases and legal insights, visit JacobiJournal.com. Read More: Stay Informed! 📢 Visit JacobiJournal.com for the latest legal updates and industry news. (Source: Virginia Workers’ Compensation Commission)