Archive for August, 2010

TV tax attorney Roni Deutch focus of California AG’s fraud lawsuit

Filed August 25th, 2010 laurie

California’s Attorney General believes the highly-publicized tax-debt resolution tactics and track record of attorney Roni Deutch are bogus. According to an AP report, Jerry Brown said Deutch’s Sacramento-based law firm is overstating its ability to resolve large consumer tax debts. He has filed a lawsuit seeking an end to her claims and damages for hundreds […]

HSBC ordered by New York judge to hand over investigation findings into Madoff dealings

Filed August 20th, 2010 laurie

A U.S. Bankruptcy judge has ordered Europe’s largest bank to turn over all documents it has related to the business it kept with jailed Ponzi scheme mastermind Bernard Madoff. According to a Bloomberg report, HSBC Holdings Plc has been ordered to surrender all its reports, contracts, audio recordings and documents it has pertaining to examinations […]

Celebrities Victims in Credit Card Scam

Filed August 19th, 2010 meg

Celebrities including Jennifer Aniston, Cher, Liv Tyler, Melanie Griffith, Anne Hathaway and Scott Speedman have been named as victims of a serious credit card scam. According to an affidavit filed in United States District Court, a witness claims the celebrities’ credit card information was stolen by a woman who ran a salon in Beverly Hills […]

For-Profit Schools Sued Over Securities Fraud

Filed August 17th, 2010 meg

In a third class action against for-profit colleges, shareholders claim the Education Management Corp, its directors and underwriters defrauded investors with false and misleading statements in the prospectus for its Initial Public Offering. Education Management operated 93 schools in 28 states of the US and Canada, and offers online and campus-based college degrees through its […]

Convicted Brokers to Keep Morgan Stanley Bonuses

Filed August 12th, 2010 meg

Morgan Stanley has lost an arbitration ruling that will allow two brokers convicted of conspiracy, wire fraud and securities fraud to each keep $4.45 million in signing bonuses. A Financial Industry Regulatory Authority arbitration board denied the New York-based firm’s request to have Eric Butler and Julian Tzolov repay the bonuses paid when they were […]

FTC Shuts Down SEO, Domain Name Scam

Filed August 11th, 2010 meg

The FTC has announced that it has shut down the activities of Canadian con artists who convinced thousands of US consumer website owners to pay bogus bills. Toronto-based company Internet Listing Service was charged in June 2008 with sending fake invoices to many small businesses and other website owners in the US. The invoices would […]

FTC Urged to Prevent Enterprise from Renting Recalled Vehicles

Filed August 10th, 2010 meg

Two auto safety advocacy groups petitioned the FTC, which regulates rental car companies, to prevent Enterprise Rent-A-Car from renting out recalled but unrepaired vehicles to customers. Enterprise Rent-A-Car and its parent company admitted in May that its negligence caused the death of Santa Cruz sisters Raechel and Jacqueline Houck. A jury awarded their parents of […]

Valley Meat Company Recalls Ground Beef Due to Possible E.coli Contamination

Filed August 6th, 2010 meg

Modesto, California-based Valley Meat Company has issued a recall of approximately one million pounds of ground beef products. The frozen ground beef patties and bulk ground beef products may be contaminated with E.coli O157:H7. A total of seven patients to date have reported to have become ill as a result of the recalled product. These […]

IRS says it won’t back Refund Anticipation Loans in the future; nearly $800M lost in 2008 to high-interest loans

Filed August 6th, 2010 laurie

The Internal Revenue Service says it will stop helping banks make Refund Anticipation Loans to the working poor in America. When most consumers file their annual income tax returns, they’ll choose to do so at a preparer that offers an “instant refund” for a nominal fee. However, this is not the actual return, just a […]

Cuomo Goes After Healthcare Lenders

Filed August 5th, 2010 meg

New York’s Attorney General Andrew Cuomo has launched an industry-wide investigation into predatory healthcare lending. He says some healthcare providers pressure people to use a healthcare credit card, called CareCredit, to finance their doctor expenses. However, the providers often receive kickbacks from the companies based on how much they charge patients, and some patients are […]