When a Naples man attended his church, he saw pews filled with investment fraud targets, the Securities and Exchange Commission says. And, an SEC complaint said, Brent Seaman ripped off $35 million from at least 60 of those people in what turned into a Ponzi scheme. “Many of these investors were elderly, retired, and connected to a Naples church where Seaman was an…
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In response to the increasing acceptance and adoption of AI-based care, Nationwide is testing eldercare robots in homes of select policyholders with mobility issues.
After years of delays due to issues with payments to prosecutors and relocation debates, suspended Texas Attorney General Ken Paxton appeared in a Harris County court over criminal securities fraud charges on Thursday morning. During the short hearing, Paxton's defense attorneys and special prosecutors on the case stood before Harris County State…
—Americans with credit card debt are caught in the crossfire of the Federal Reserve's battle to bring down inflation. The Fed has hiked interest rates 11 times since March 2022, raising its baseline interest rate last week to a 22- year high. Caitlin Hogan, a 32- year-old case manager in central Kansas, told The Hill she had to put some unexpected expenses on one of…
Former Georgia resident on the lam after defrauding millions from Christian communities: Prosecutors
The U.S. Attorney’ s Office for the Southern District of Georgia on Tuesday said international fugitive Jason Gerald Shenk, 45, a former resident of Dublin, Georgia, is charged with multiple wire fraud and money laundering charges for redirecting the multimillions in donations for personal uses. Mr. Shenk is accused of soliciting millions of dollars of…
BRIDGEPORT, Conn.- A one-time millionaire real estate developer with past ties to corrupt Connecticut politicians was sentenced to more than five years in prison on Monday for fraud involving a failed hotel-condominium project in Florida and properties elsewhere. Robert Matthews requested a prison sentence of no more than 27 months, but instead got 65…
A new study from Bankrate ranks all 50 U.S. states when it comes to affordability, overall well-being, healthcare quality/cost, weather and crime. For some residents nearing retirement in Alaska– ranked 50 out of 50– New York, California, Washington and Massachusetts, a move toward the middle of the country could pay off, Bankrate's findings suggest.
Hiring your spouse can result in significant tax savings. This is especially true if you are a sole proprietor or have a single-member LLC since these entities enable the business owner to deduct the family medical expenditures. The IRS has no limit on how much you can reimburse your spouse for medical expenses.
Jul. 31— BUFFALO— Two uniformed U.S. marshals, handcuffs hanging from their belts, took seats in the courtroom of U.S. District Court Judge Richard Arcara as he began sentencing proceedings Monday for former Falls businessman and current newspaper publisher Frank Parlato Jr. "He has every right to not like the IRS. But he has no right to commit a crime, "Assistant U.S….
A preliminary settlement has been reached involving a securities lawsuit against 22nd Century Group Inc. and two former top executives, according to a news release Monday from a law firm representing the plaintiffs. According to Pomerantz LLP, the federal settlement involves a lawsuit filed in September 2019 in the Western District Court of New York.
Empowering African American agents to remain in the game
During a recent NAAIA, three seasoned insurance agency owners discussed what it took to build a successful agency.
Adding alternative investments to your wealth practice with PPLI
Investors are diversifying beyond stocks and bonds. How to use private placement life insurance.
Guiding clients through a realistic retirement budget
Help clients envision the retirement they want and let them know what it will take to make it happen.
CEO Carl Ruderman’ s part in the 1 Global Capital fraud already has cost him money— a $15 million civil penalty, another $750,000 cash dunning— and real estate, as in 50% of the equity in a five-bedroom, 12- bathroom Aventura condominum. Ruderman’ s indictment puts the size of the 1 Global Capital fraud at $250 million, the lowest estimation to appear in any of the…
When ‘spray and pray’ fails: How to develop a niche market
A growing number of advisors are spurning the “spray and pray” approach, and turning to niche marketing to attract their ideal clients.
Do you know how your clients feel about money? If not, find out.
Have you ever considered your client’s feelings about money? In the same way that people may have different opinions of movies or music, everyone reacts differently to the money they have (and the money they don’t).
The Securities and Exchange Commission today charged Brent Seaman of Naples, Florida, and various entities he managed for fraudulently raising approximately $35 million from at least 60 investors through an unregistered securities offering. The SEC's complaint alleges that, from approximately June 2019 until September 2022, Seaman told investors he…
U.S. regulators unveiled plans to impose even tighter capital rules on big banks, setting up a battle with the industry over whether the push for financial stability will make the country's lenders less competitive. The measures released Thursday by the Federal Reserve, Federal Deposit Insurance Corp. and the Office of the Comptroller of the Currency would…
Two Omaha men were federally indicted last week for their alleged participation in a check fraud scheme involving nearly $290,000 in forged business checks deposited at financial institutions across Nebraska and elsewhere. Federal prosecutors on Friday unsealed an eight-count indictment against Calvin Carter, 20, and Malik Washington, 26, alleging…
Wells Fargo& Co.' s board of directors has chosen to make a major statement with Tuesday's authorization of a new stock-repurchase program worth up to $30 billion. However, they stress it doesn't make amends to shareholders for the $1.97 trillion asset cap limitations established in February 2018 by the Federal Reserve in response to the fraudulent customer…
