The legal action targets the office's handling of unclaimed securities, which it is tasked with overseeing for the state. According to the filing, these fraudulent address changes allowed the agencies to acquire the fortunes of international stockholders who were unreachable at the faked locations.
Wednesday, October 21, 2026
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California Controller Malia Cohen's Office Accused of Faking Addresses to Seize Stock
US Politics12 days ago
A federal court filing has brought allegations of fraud against the staff and contractors operating within California's fiscal watchdog agency. The lawsuit claims that employees of Controller Malia Cohen's office and private vendors falsified the addresses of overseas investors to seize and liquidate stock assets valued at hundreds of thousands of dollars.
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