Content about Crimes

June 26, 2013

New York — Former Duane Reade CEO Anthony Cuti and CFO William Tennant failed in an attempt to have their 2010 convictions for securities fraud overturned. The Second U.S. Circuit Court of Appeals in New York upheld a June 2010 federal jury decision to find Cuti and Tennant guilty of providing misleading earnings information to shareholders and private equity group Oak Hill Capital partners, which purchased Duane Reade in 2004, between 2000 and 2004.

June 26, 2012

Despite reporting an uptick in organized retail crime, the National Retail Federation revealed that retail theft rates decreased in 2011, according to preliminary results of the organization's latest National Retail Security survey.

NEW ORLEANS — Despite reporting an uptick in organized retail crime, the National Retail Federation revealed that retail theft rates decreased in 2011, according to preliminary results of the organization's latest National Retail Security survey.

November 10, 2011

According to the National Retail Federation’s annual Return Fraud Survey, completed by loss-prevention executives at 103 retailers, the retail industry will lose an estimated $3.5 billion to return fraud this holiday season, down from $3.7 billion last year.

WASHINGTON — According to the National Retail Federation’s annual Return Fraud Survey, completed by loss-prevention executives at 103 retailers, the retail industry will lose an estimated $3.5 billion to return fraud this holiday season, down from $3.7 billion last year. Annual return fraud will cost retailers an estimated $14.4 billion in 2011, up slightly from about $13.7 billion in 2010.

October 18, 2011

Shoplifting, employee or supplier fraud, organized retail crime and administrative errors cost the retail industry $41.7 billion in the United States in 2011, representing 1.6% in sales, according to the Global Retail Theft Barometer released Tuesday by Checkpoint Systems.

PHILADELPHIA — Shoplifting, employee or supplier fraud, organized retail crime and administrative errors cost the retail industry $41.7 billion in the United States in 2011, representing 1.6% in sales, according to the Global Retail Theft Barometer released Tuesday by Checkpoint Systems. Of that, $18.4 billion was attributed to employee theft, $14.9 billion to shoplifters, $6.6 billion to internal error and $1.8 billion to suppliers.

September 13, 2011

For every $100 in fraudulent transactions, retailers incurred a “true” cost of $230, according to a new study released Tuesday by LexisNexis Risk Solutions.

NEW YORK — For every $100 in fraudulent transactions, retailers incurred a “true” cost of $230, according to a new study released Tuesday by LexisNexis Risk Solutions.

According to the study, retail merchants and financial institutions reported an overall decline in fraud rates and transactions while total retail sales rose. Consumers also experienced a decline in fraud losses overall but the average time it took to resolve fraud issues rose by 57% and the out-of-pocket costs of fraud rose by $244.

July 6, 2011

Grocer A&P has announced the launch of a new Preferred Pet Club program in collaboration with the American Society for the Prevention of Cruelty to Animals, offering exclusive discounts to pet owners across New York, New Jersey, Pennsylvania, Delaware and Connecticut.

MONTVALE, N.J. — Grocer A&P has announced the launch of a new Preferred Pet Club program in collaboration with the American Society for the Prevention of Cruelty to Animals, offering exclusive discounts to pet owners across New York, New Jersey, Pennsylvania, Delaware and Connecticut.

June 15, 2011

A new survey recently conducted by the University of Florida found that retailers lost $37.1 billion in theft last year, up nearly $4 billion from 2009.

BOCA RATON, Fla. — A new survey recently conducted by the University of Florida found that retailers lost $37.1 billion in theft last year, up nearly $4 billion from 2009.

Criminologist Richard Hollinger led the National Retail Security Survey, which was sponsored by security systems integrator ADT Commercial. Hollinger found that employee theft made up the largest portion with $16.2 billion in losses, or more than 43% of the total, followed by shoplifting and organized retail crime, with a loss of $12.1 billion, or almost 33% of the total losses.

March 9, 2011

Sens. Chuck Schumer, D-N.Y.; Jay Rockefeller, D-W.Va.; Amy Klobuchar, D-Minn.; and Sherrod Brown, D-Ohio, introduced new legislation that seeks to curb prescription drug theft through strengthened penalties and additional tools for law enforcement.

WASHINGTON — Sens. Chuck Schumer, D-N.Y.; Jay Rockefeller, D-W.Va.; Amy Klobuchar, D-Minn.; and Sherrod Brown, D-Ohio, introduced new legislation that seeks to curb prescription drug theft through strengthened penalties and additional tools for law enforcement.

If approved, the legislation would:

  • Increase possible sentences for robbing pharmacies of controlled substances;

March 1, 2011

A New Jersey merchant was arrested on charges related to selling goods stolen from a local Rite Aid store, particularly cigarettes, according to published reports.

TRENTON, N.J. — A New Jersey merchant was arrested on charges related to selling goods stolen from a local Rite Aid store, particularly cigarettes, according to published reports.

The Trenton, N.J., Trentonian reported Tuesday that police arrested Ladislao Martinez and charged him with fencing stolen goods, organized retail theft and receiving stolen property, seizing cigarettes, paperwork and cash from his store, the MR Supermarket.

February 18, 2011

The Medicare Fraud Strike Force on Thursday charged 111 defendants in nine cities — including doctors, nurses and healthcare company owners and executives — for their alleged participation in Medicare fraud schemes involving more than $225 million in false billing. The operation marks the largest federal healthcare-fraud takedown.

WASHINGTON — The Medicare Fraud Strike Force on Thursday charged 111 defendants in nine cities — including doctors, nurses and healthcare company owners and executives — for their alleged participation in Medicare fraud schemes involving more than $225 million in false billing. The operation marks the largest federal healthcare-fraud takedown.

September 30, 2010

The Consumer Healthcare Products Association on Thursday announced its support behind the passage of H.R....

WASHINGTON The Consumer Healthcare Products Association on Thursday announced its support behind the passage of H.R. 5932, the Organized Retail Theft Investigation and Prosecution Act, signaling that it “provides a good first step toward effectively addressing organized retail crime by establishing a dedicated office within the [U.S.] Department of Justice to work with state and local law enforcement.”

 

September 27, 2010

Retail merchants incurred more than $139 billion fraud losses during the past year, according to...

September 22, 2010

A bipartisan legislation that seeks to prevent organized retail crime is being applauded by the...

ALEXANDRIA, Va. A bipartisan legislation that seeks to prevent organized retail crime is being applauded by the chain pharmacy industry.

The Organized Retail Theft Investigation and Prosecution Act of 2010, introduced by Reps. Bobby Scott, D-Va., and Lamar Smith, R-Texas, would create a specific task force within the Department of Justice to investigate and prosecute instances involving organized retail crime.

July 19, 2010

The leader of a group representing the nation’s pharmacy benefit managers responded to a House...