Reported 1 day ago
In 2024, the logistics industry faced significant freight fraud cases, highlighting serious vulnerabilities and the evolution of fraudulent tactics. High-profile incidents included a $5 million ransom scheme involving Agility Express, a PPP loan scam by trucking owner Roderick Billingslea, and the downfall of digital freight broker Next Trucking. Other notable cases involved former NFL player Dana Howard's misuse of funds and Sanjay Singh's $112 million Ponzi scheme. These developments serve as crucial lessons for the industry, urging improvements in compliance and fraud prevention strategies.
Source: YAHOO