SEC Charges Father and Son Conducted Cherry-Picking Scheme at Investment Company

  The Securities and Exchange Commission charged a father and son and their Chicago-based investment advisory business with defrauding clients via a cherry-picking scheme that reaped them approximately $2 million in illegal profits, which they used to purchase vehicles, vacations, and luxury homes.    The United ...

Fired IRS Official Denies Intentional Targeting and Lying to Congress

  Ousted IRS Official Denies Intentional Targeting and Lying to Congress   A significant increase in workload, as oppose to deliberate targeting, led to foolish mistakes and acts of political discrimination in the IRS as cited by an inspector general’s report, the agency’s outgoing commissioner claimed ...

SEC Charges China-Based Execs in Scheme to Divert Money for Personal Use and Overstate Revenues

The United States Securities and Exchange Commission charged husband-and-wife executives at a China-based business with engaging in a fraudulent activity to overstate the company’s revenues and divert funds from a securities offering for their personal use.   The Securities and Exchange Commission alleges that RINO International ...

Cost Cutters: Deficits in the United States Falling Faster than Expected

  Headed by Douglas Elmendorf, the United States Congressional Budget Office, projects this year’s deficit will be $200 billion less than it projected just a few months ago. That said, it’s not all good news over the next ten years or so.  Annual deficits are dipping even faster than the Budget Office predicted ...

Stuck in the Mud: Europe Facing Longest Recession in History

   A long winter held back construction activity in Germany, which contributed to a sharper than expected drop in first quarter output across the Eurozone. German barely avoided recession at the start of this year, but its return to growth was not enough to prevent the Eurozone economy from contracting for a record sixth quarter ...

Young Men: The Exposed Age Group under Obamacare

    The Obama administration claims that the Affordable Care Act will provide cheaper health insurance for millions of Americans. However, young men who are not insured through their employers could their premiums spike once coverage in the state-based insurance exchanges starts in January.    Several ...

Nearly 100,000 Borrowers Shortchanged in Mortgage Settlement

    Checks that were supposed to compensate mortgage borrowers who fell victim to illicit foreclosure practices have finally started arriving in mailboxes; however, many of these checks are well short of the amount owed.    Due to a processing error, nearly 100,000 borrowers received checks for less than ...

SEC Charges Pennsylvania City for Making Fraudulent Public Statements

    The United States Securities and Exchange Commission charged the city of Harrisburg with securities fraud for misleading public when it issued statements regarding its financial situation. Officials for the city claim that the city’s financial condition was rapidly deteriorating and the public information made ...

SEC Issues Alert on Settlement Income or Pension Streams

  The United States Securities and Exchange Commission, along with the Financial Industry Regulatory Authority issued an investor alert for Pension or Settlement Income Stream Investments. This alert informs investors about the risks involved when selling rights to an income stream or when investing in another entity’s ...

Does Obamacare Help the Female Population?

  With Mother’s Day behind us, President Obama spoke to a group of women—including a number of moms—about the ways the new Affordable Care Act is already providing aid to millions of Americans like them. “The female population in particular has more control today over their own care than ever before ...

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