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Dutch hacker ‘Fortezza’ extradited to U.S. on 14 counts

David Benjaim Schrooten, a 21-year-old Dutch computer hacker who operates under the name “Fortezza,” is scheduled to make his first court appearance today in Seattle as part of a 14-count indictment alleging that he stole and marketed thousands of stolen credit card numbers. Arrested in Romania in March, Schrooten arrived in Seattle on June 9th… Read More

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Google pays $10M for TeraHop patents: Sale to help investors in fraud case recoup cash

Big technology companies are searching everywhere for patents, looking to protect themselves from future litigation. Now, Google has emerged as the buyer of a patent portfolio in a complex fraud case involving 57-year-old Seattle investment professional Mark Spangler. Spangler, who was indicted last week on 23 counts of fraud and money laundering, allegedly funneled some $46… Read More

Scales of Justice. Photo via Eric the Fish

Seattle financial advisor indicted for funneling $46M into his startup ventures

Mark Spangler, a 57-year-old Seattle financial advisor who formerly served as head of the National Association of Personal Finance Advisors, was indicted today on 23 counts of fraud and money laundering. Spangler is accused of orchestrating a scheme between 2003 and 2011 in which he diverted $46 million in investor funds into two startup companies where… Read More

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MOD Systems shuts down as prosecutors suggest 97 month jail term for founder Mark Phillips

Federal prosecutors want to lock up MOD Systems founder Mark Phillips for more than eight years after the high-tech executive looted the maker of digital kiosk technology, lied to investors and “undermined the fabric of the entrepreneurial community.” Phillips, who was convicted on four counts of wire fraud, one count of mail fraud, and two counts of money… Read More