The Federal Trade Commission (FTC) has released a report of data pertaining to the 2011 fiscal year which showed that pharmaceutical companies continued an anticompetitive trend of paying potential generic rivals to delay the introduction of low-cost prescription drug alternatives for American consumers. If you’re like me, generic pharmaceutical drugs save my life, not only …
Yesterday the Better Business Bureau (BBB) put put a warning of an “instant cash” Las Vegas company, Funds Direct, that are allegedly debiting consumer’s accounts $30 without authorization. Complaints filed by consumers are saying that their accounts are having direct withdrawals taken but that they have never had any contact or even heard of Funds …
The Federal Trade Commission (FTC) has halted a countrywide scheme that falsely promised consumers help to get federal government jobs through exclusive listings. According to the FTC, Frontier Publishing, doing business as American Data Group, targeted and charged consumers for information pertaining to federal government jobs (jobs that the federal government provides for free) but …
Looking for free government grants endorsed by President Obama and Vice President Biden? Dietary supplements supported by scientific research and endorsed by Oprah? How about exclusive credit offers? …Keep looking. The Federal Trade Commission (FTC) has halted an operation called, the “Grant Connect” program, that allegedly deceived and mislead consumers about bogus products and services …
Banks are re-examining loans that took place during the housing boom and are now finding problems which has resulted in a large jump of reported mortgage-fraud. Reports are showing an 88 percent jump in the second quarter according to the Treasury Department. “Most of the mortgages suspected of fraud closed during the height of the …
Just a few days ago I reported on how former MetLife employee, Mark Edward Salyer of Tennessee, was responsible for the investment fraud scheme to the tune of $6 million between June of 2005 until June of 2007. Three days later, on October 6, 2011, Pensylvannia resident John Wosotowsky pleaded guilty to two counts (mail …
Scammers are some of the dumbest and smartest people in the world. They know where, when and how to find people when they’re down and vulnerable. They also keep up with the times; evolving at every change in our world. That’s how they’re smart. They’re dumb because they’re scammers. And scammers are dumb. Period. Recently, …
Sometimes the apple doesn’t fall far from the tree. When children are growing up many look up to their parents and imitate them on a daily basis. “When I grow up, I’m going to be just like daddy!” But what happens when your parent is a fraudster? Father, Roberto Torres, former chief financial officer, and …
After a conviction last November following a seven-week trial David Moro was sentenced on October 5, 2011 to 10 and a half years (126 months) in prison for orchestrating and carrying out a $4.2 million broadcasting equipment lease and financing scheme which yielded a loss of more than $3 million to lenders. Moro was convicted …
On Thursday, October 7, 2011 Rober Schroy, of California, pleaded guilty to wire fraud and tax evasion for his role in a $1 million investment fraud scheme. Schroy pleaded guilty to one count of wire fraud and one count of tax evasion. According to filed documents in this case: Schroy said from 2004 through 2009 …