Arkansas Securities Commissioner Susannah Marshall entered a cease-and-desist order to stop an ongoing international scheme involving unregistered, fraudulent securities. The order found that GS Partners Global (GS Partners), Swiss Valorem Bank, and Josip Heit, CEO, chairman of the board and control person of GS Partners offered and sold unregistered, fraudulent securities in the…
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As a group, these older baby boomers have accumulated more than $14 trillion in additional net worth since the end 2019, based on Federal Reserve data. The share of adults age 65 and more in the labor force reached a historic low of 10% in the mid-1980s but has since almost doubled, according to Bureau of Labor Statistics data, even after many retired early at the…
A former Suntrust and M&T Securities advisor faces 30 years in prison after pleading guilty to defrauding an elderly client of more than $1 million over the course of nearly 20 years. Blizzard first entered the industry in 2001, with short stints at UBS and Allfirst Brokerage before joining M&T Securities in 2003. Starting in 1963, R.M. began work at a Baltimore-…
The latest Report on the digitalization of the insurance industry, published by the Spanish Union of Insurance and Reinsurance Companies, admits that one of the main advantages of these technological advances is "the ability to offer tailor-made policies based on the specific characteristics and requests expressed by the client". In addition, the study…
NEW YORK— Utah billionaire Trevor Milton was sentenced Monday to four years in prison for lying to investors about his company's hydrogen and electric truck technology. Milton was the founder and CEO of Nikola Motors. Milton will also have to turn over property in Utah and pay a $1 million fine, the Justice Department said in a news release.
An Amazon package sits on the doorstep after being delivered. (Wisconsin Examiner photo)The state’s highest court grappled Tuesday with how to determine whether a group of Wisconsin delivery drivers are employees who can get jobless pay if they are let go or if they can be treated as independent contractors outside the unemployment insurance system. The case on Tuesday’s court…
Two more Federal Reserve bankers dismissed the magnitude of interest rate cuts expected by markets next year, reinforcing similar comments issued last week by other members of the U.S. central bank. I got the impression that there was some confusion about how the Federal Open Market Committee works. Economists at Bank of America Corp now expect four…
Social Security benefits for millions of people will rise by an average of over $50 a month starting in January, thanks to the Social Security Administration's 3.2% annual cost of living adjustment for 2024, announced on Oct. 12. The COLA has been relatively volatile in recent years, however, and future retirees are understandably concerned about the health of…
The market is increasingly betting on interest rate cuts in the US, with investors estimating that interest rates will be cut as early as January, following Federal Reserve Chairman Jerome Powell's particularly dovish speech after the December meeting. According to CME's FedWatch Tool, investors and analysts assign a 10.3% probability to cuts as early as…
Yossi Engel, who previously lived in the Fairfax District of Los Angeles before moving to Israel in 2021, also was ordered by U.S. District Court Judge Maame Ewusi-Mensah Frimpong to pay $11.7 million in restitution. Engel was arrested by FBI agents at Los Angeles International Airport on March 8, and two months later pleaded guilty to one count of wire fraud.
The Vatican's criminal court sentenced a high-ranking Italian cardinal to five and a half years in prison for fraud, in a case related to financial operations of the Holy See. The court also found the cardinal guilty of paying some 136 thousand dollars to a cooperative managed by his brother, as well as of having given another 622 thousand dollars to an…
And it's maddening that the fraud and abuse still plaguing California's addiction treatment industry aren't being exposed by California's regulators, or California's attorney general, or its district attorneys or insurance commissioner, but by the federal Department of Justice and the insurance companies footing the bills. Last month, Aetna filed a…
Can't stop working? You are not alone. The older workforce – some 11 million Americans – has quadrupled since the mid-1980s, new research says.
The head of Florida’s large state-created insurer called it a “bit infuriating” that a U.S. Senate committee recently demanded that Citizens Property turn over information about its ability to pay claims. Late last month, U.S. Sen. Sheldon Whitehouse, the Chair of the Senate Budget Committee, late last month asked Gov. Ron DeSantis, Florida Insurance Commissioner Michael…
In 2022, U.S. healthcare spending in increased 4.1 percent to $4.5 trillion, or $13,493 per person, according to an analysis from the Office of the Actuary at the Centers for Medicare and Medicaid Services. The findings, indicate that in 2022 strong growth in Medicaid and private health insurance spending was offset by continued declines in supplemental…
The U.S. Federal Reserve left the interest rate unchanged as expected by the market, in a range between 5.25 and 5.50 percent in what was its last monetary policy meeting of the year, and for 2024 three cuts of 25 basis points each are envisioned, according to the central bank's projections. In addition, the Federal Open Market Committee said it stands ready to…
Stephen Wall, 65, and Saskya Bedoya, 42, were charged in an indictment filed Tuesday with one count of conspiracy to commit wire fraud and one count of securities fraud, the U.S. Attorney’ s Office for the Northern District of Texas said in a news release. Earlier this month, a U.S. district court ordered that multiple companies owned by Barton be placed into…
As troubles mount for a London businessman, he shifts to Nairobi, where more troubles surface. Now, he's associated with a firm insuring Iowa mutuals.
The maker of the drug, Pfizer, is continuing to provide it for free to people without health insurance. “I think the barriers are going to go up when there’ s not just free product available automatically, but it involves this extra step of getting into a patient assistance program,” said Dr. Harris,“ Which is a concern when you have a time-sensitive situation needing to…
