Carl R. Ruderman, 82, was chairman and chief executive officer of 1 Global Capital LLC, a commercial lending company that filed for bankruptcy in July 2018. Ruderman admitted spending 1 Global investors' money on credit card payments, vacation travel, drivers, nannies, housekeepers, tuition, mortgage payments, luxury car payments and insurance payments for his…
Over five years after the 1 Global Capital bankruptcy ended a scam that fraudulently raised $285.5 million from more than 3,400 investors, the Aventura- based kingpin of the scheme learned his probable prison sentence:. The plea agreement between the 82- year-old Ruderman, represented by Marcus Neiman& Rashbaumā s Daniel Rashbaum, and the U.S. Department of…
PROVIDENCE- Attorney General Peter F. Neronha announced Wednesday that an East Greenwich man has been found guilty in Providence County Superior Court of defrauding a British investor of $100, 000 in a scheme centered on producing a film project based on the 1990' s HBO series "Tales from the Crypt." On October 3, following a two-day jury trial before Superior Court…
Some clients have worked hard enough or smart enough to be considered high-net-worth (HNW), but how do their financial plans differ from those of other clients?
The Federal Reserve has made clear it plans to leave interest rates higher for longer. Christine Benz, director of personal finance for Morningstar, has a few ideas. The Fidelity Money Market Fund yields 5.05%.
Charges Former Executive with Falsely Claiming Consumers' Deposits Were Insured by FDIC. The Federal Trade Commission announced a settlement with bankrupt crypto company Voyager that will permanently ban it from handling consumers' assets and is filing suit against its former CEO, Stephen Ehrlich, for falsely claiming that customers' accounts were…
Social Security recipients will see a 3.2% cost-of-living adjustment (COLA) in 2024, down from the 8.7% increase in 2023.
On average, Social Security retirement benefits will increase by more than $50 per month starting in January.
He never told his employer and ignored a federal Financial Industry Regulatory Authority requirement to register the victim as a client, New Jersey Attorney General Matthew Platkin said in a joint announcement with Interim Insurance Fraud Prosecutor Al Garcia. A grand jury in Trenton subsequently indicted Boston on theft charges following an…
Damian M. Baird, 51, of Clarence was arraigned on Oct. 3 on an indictment charging him with one count of grand larceny in the second degree, three counts of grand larceny in the third degree and four counts of criminal possession of a forged instrument in the second degree. It is alleged that, between Feb. 3 and March 15, the defendant fraudulently obtained more than…
NEW YORKā As he pilfered billions from customers of his global currency exchange FTX, Sam Bankman-Fried disregarded moral codes like "don't steal"ā then blamed the woman he put in charge when things went south, a Manhattan jury heard Wednesday. "He said that he was a' utilitarian,' and he believed that the ways that people try to justify rules like' don't lie,'' don't steal,'…
Financial wellness benefits are in the spotlight as employers respond to workers’ concerns, a survey showed.
How can you advise employers regarding the options available to assist in the repayment of student loan debt to augment employeesā financial well-being?
The lies from FTX founder Sam Bankman-Fried date back to the company's very beginning, prosecutors say. He lied to customers and investors alike, it is claimed, as part of what U.S. Attorney Damian Williams has called "one of the biggest financial frauds in American history." A new study in the Strategic Management Journal sheds some light on the issue.
Truist completed on April 3 selling for $1.95 billion a 20% stake in Truist Insurance Holdings Inc. to funds managed by Stone Point Capital. Truist Insurance Holdings is the sixth-largest U.S. insurance brokerage with more than 250 offices nationwide and more than 9,000 employees, or 17.1% of Truist's overall workforce of 52,564 as of June 30.
–There are currently 28,420 centi-millionaires in the world, more than double the number 20 years ago, and an increase of 12% compared to this time last year, according to the 2023 Centi-Millionaire Report released today by wealth and investment migration advisors Henley& Partners and featuring exclusive data from global wealth intelligence firm New World…
When a crisis hits in some area of the world, clients can depend on advisors who have the resources to support them.
The vast majority of engaged couples surveyed fear their wedding costs may adversely impact their financial well-being.
Brad Rhodes: Dodging the pitfallsā navigating retirement's risky terrain. Published 12:00 am Sunday, October 8, 2023. Retirement, often painted as the serene, golden phase of life, is not without its challenges.
There's a personal debt crisis coming. I see it in the posts on the "Ask Terry" section of my website, TerrySavage.com. Americans are now carrying more than $1 trillion in credit-card debtā a new record.
