Archive for December, 2008

Madoff Assets Liquidated, Monies Released

Filed December 31st, 2008 meg

A federal bankruptcy judge approved the release of more than $28 million in assets belonging to accused swindler Bernard Madoff to pay to costs related to his case. Madoff is accused of bilking investors out of $50 billion through a Ponzi scheme that he allegedly ran through his investment advisory business. $883,000 has already been […]

“Please Save My Home” sued by Ohio AG

Filed December 30th, 2008 joshua

The owner of the allegedly corrupt foreclosure rescue business “Please Save My Home” has been sued by the Ohio Attorney General. The lawsuit filed earlier this week seeks to refund defrauded customers of the Conneaut, Ohio-based, business, and put an end to its allegedly fraudulent operations. James R. Van Putten is named in the lawsuit […]

Date Set for Madoff Ponzi Scheme Hearing

Filed December 30th, 2008 meg

The House Financial Services Committee will hold a hearing on January 5th to examine the $50 billion Ponzi scheme allegedly run by money manager Bernard Madoff. Madoff, 70, was arrested December 11th, after telling his two sons and federal investigators that he had been using money from new investors to pay off old ones in […]

Text message prices called into question

Filed December 30th, 2008 joshua

The U.S. Senate is conducting an investigation into why wireless phone carriers charge what they do for text messages. In the past five years the average cost of a text message has doubled while the industry has shrunk to about a handful of carriers. The Senate antitrust committee has sent invitations to representatives with Verizon […]

Madoff Scheme Investigation Includes Middlemen

Filed December 29th, 2008 meg

Investigators probing the Madoff investment scandal are beginning to turn their attentions to the middlemen who attracted billions of investment dollars to Madoff’s funds. There are no allegations that the middlemen knew anything about Madoff’s Ponzi scheme, but investigators are interested in what they told clients about how their money was going to be invested. […]

Madoff’s family, associates questioned of their knowledge of fraud

Filed December 29th, 2008 joshua

The Securities and Exchange Commission is widening its probe into Bernard Madoff’s alleged $50 billion Ponzi scheme. Madoff has two sons and each has publicly said they knew nothing of their father’s alleged wrongdoing. The same can be said for other members of Madoff’s family, all who can probably be expected to meet with countless […]

Diet Coke Plus Nutrition Claims Violate FDA Policy, Coca-Cola Warned

Filed December 24th, 2008 meg

The Food & Drug Administration (FDA) has warned The Coca-Cola Company that claims associated with their Diet Coke Plus product violates U.S. policy against marketing soda and other snack foods as more nutritious, or “fortified.” The FDA allows boosted nutrition claims when foods or beverages contain at least 10 percent of the recommended daily allowance […]

Debt Relief Scams On Rise As Recession Deepens

Filed December 23rd, 2008 meg

The economic recession has unleashed a plague of schemes, scams and dubious sales tactics targeting people with financial woes. From debt relief to amazing investments, people are getting scammed in record numbers. The Attorney General’s Office reports that complaints about debt relief scams have spiked 62 percent this year. The most common scams are credit […]

Hedge fund managers overlooked obvious signs of Madoff fraud

Filed December 23rd, 2008 joshua

Hedge fund managers caught up in the whirlwind of success that followed Bernard Madoff overlooked obvious signs they were being duped. What’s trouble is the fact that hedge fund managers are paid to keep on the lookout for shaky investment opportunities. Based on his previous successes and obvious connections to the market, Madoff was able […]

Fed unveils nursing home ratings Web site

Filed December 23rd, 2008 joshua

The Centers for Medicare and Medicaid Services has unveiled a Web site which provides ratings for the nation’s abundant nursing homes. As reports of nursing home abuse and neglect continue to rise, the new Web site aims to provide families exploring assisted living options with a central location for independent information. The site can be […]