MINNEAPOLIS (FOX 9) – The U.S. Department of Justice announced it will hold a news conference on “significant law enforcement action” involving fraud in Minnesota.
Federal officials are set to speak at the U.S. Attorney’s Office for the District of Minnesota at 11 a.m. on Thursday.
The news conference can be viewed in the player above.
Feds to unveil ‘significant law enforcement action involving fraud in Minnesota’
What we know:
The Department of Justice said the following people will attend the news conference:
- Acting U.S. Attorney General Todd Blanche
- Secretary of Health and Human Services Robert F. Kennedy, Jr.
- Assistant Attorney General for the National Fraud Enforcement Division Colin McDonald
- Vice Chair of the White House Task Force to Eliminate Fraud Andrew Ferguson
- Federal Bureau of Investigations Co-Deputy Director Christopher Raia
- Administrator of the Centers for Medicare and…
This category refers to crimes committed by employees or insiders against their own organizations. It is often the most damaging because the perpetrator has authorized access to systems.
- Asset Misappropriation: The most common form, involving the theft of company resources. This ranges from simple “skimming” (taking cash before it’s recorded) to complex schemes involving the theft of inventory or intellectual property.
- Payroll Fraud: Employees may create “ghost employees” on the system, falsify their own timesheets to claim unworked overtime, or divert salary payments to their own accounts.
- Financial Statement Fraud: Management deliberately misrepresents the company’s financial health by inflating revenue or hiding liabilities to attract investors or meet performance bonuses.