International Law

Free Books on Kindle

Posted on April 02, 2009
I am a patsy when it comes to buying books: Amazon 1-click was invented specifically separate me from my money.So, I fell hard for Kindle Best Current Deals.But, what sort of signal is created by this?  We are giving away only cheap romance novels?Related articles by ZemantaKindle Competitors to get Wireless Connectivity (jkontherun...

Help with Castaldi Ponzi Requested

Posted on April 01, 2009
Image of Ponzi Vineyards via SnoothA loyal readers writes:The person who found these [Castaldi Ponzi] web sites to go I need more information on how to the documents you are reading in order to help you. I am just as interested in finding out whats going on...

Holding Back Water or Simplifying Financial Innovations?

Posted on March 31, 2009
Nobody understands complex credit derivatives, they cause problems, and we have to eliminate them from the system. So says, Taleb.Related articles by ZemantaU.S. Government Default? (gregmankiw.blogspot.com)Collateral Damage in the AIG Inquisition (leatherpenguin...

Why We Fail in Persuading Others

Posted on March 31, 2009
Negotiating to WinView more presentations from Victoria Pynchon. Victoria Pynchon's presentation about the cognitive barriers to creating value is compelling reading, particularly the slides on reactive devaluation. Victoria points out that negotiators fail to ask diagnostic questions, which prevent either side from creating value...

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Miller Ponzi Scheme

Posted on March 31, 2009
From the Los Angeles FBI Press Release on the the Miller Ponzi Fraud.An Orange County man pleaded guilty today to federal fraud charges related to a long-running Ponzi scheme in which he collected more than $15 million from investors with bogus promises of annual returns as high as 18 percent...

Min and Dime Ponzi Alleged

Posted on March 31, 2009
Image via WikipediaFrom the SEC's Press Release on the Min and Dime Ponzi scheme.The Securities and Exchange Commission today charged John H. Min of Tacoma, Wash., and his company Dime Financial Group LLC for raising more than $6 million in a fraudulent investment scheme that targeted churches, church members and senior citizens...

How Many Ponzi Schemes Are There?

Posted on March 30, 2009
Image via WikipediaOver at the White Collar Crime Prof Blog, they ask whether there are more Ponzi Schemes these days?  (Regular readers of The BizOp News can simply go to our category Ponzi, and count.)"Does it seem like more and more ponzi schemes are coming to light these days? Perhaps in part this is because people are scrutinizing their investments, and are realizing that what they thought was a wonderful return for their investment, but not in fact be the case...

Sunday Fraud News

Posted on March 29, 2009
On the 30th of September 2007, Richard Dawkins, Daniel Dennett, Sam Harris and Christopher Hitchens sat down for a first-of-its-kind, unmoderated 2-hour discussion, convened by RDFRS and filmed by Josh Timonen. All four authors have recently received a large amount of media attention for their writings against religion - some positive, and some negative...

Blogs Helping Franchisees

Posted on March 27, 2009
Image via WikipediaRichard Gibson, writing at the WSJ, provides a list of franchisee specific blogs.But, I believe that Gibson has missed the main point.  Consider what he says."Would-be franchisees searching for investment ideas can find a bevy of information on franchising blogs...

The Short Con - Something for Nothing

Posted on March 27, 2009
Nice video of the short con, the pigeon drop. But, the analysis, necessarily short for the video, doesn't convince me. At what point do you think a) red flags were waving, but b) the mark drove them anyways?Related articles by ZemantaHaving a Buiness Plan is important (spiderfood911...

Stanford Receiver Busy

Posted on March 27, 2009
Image via WikipediaAs reported by Tom Fowler, in the Houston Chronicle, the receiver in the Stanford ponzi scheme has been busy."A federal judge approved a motion by Stanford Financial Group's court-appointed receiver to set aside a $10 million fund for future expenses...

Tulips and Promissory Notes

Posted on March 26, 2009
Collateral calls from Marketplace on Vimeo. Nice discussion about collateral calls and credit default swaps. Think about tulip futures contracts, promissory notes written in a bar, combined with margin calls on the promissory note. How did the Tulip bubble end? With the Dutch Parliament not allowing either party of the futures contract or promissory notes access to the Courts to enforce their agreements on the grounds that these were gambling debts...

Should Bankers go to Jail?

Posted on March 26, 2009
Image by Getty Images via DaylifeAaron Wall, writing at his Seobook.com, is mad about bankers. "I am not sure what will come of today, but if this country actually had any sense of justice then there would be at least a half dozen bankers serving a few decades in jail...

Millennium Bank Ponzi Halted

Posted on March 26, 2009
Image by liangjinjian via FlickrFrom the SEC Press release on the Millennium Bank ponzi scheme.On March 25, 2009, the Commission filed an emergency action in the United States District Court for the Northern District of Texas to halt an on-going $68 million Ponzi scheme involving the sale of bogus certificates of deposit ("CDs")...

Why Not - Creative Problem Solving

Posted on March 25, 2009
Great instructional video - idea generation for problem solving, coming up with great ideas effortlessly with neat tools.

Red Flags for Bad Investments

Posted on March 25, 2009
Image by elycefeliz via FlickrTracy Coenen's has a new book out, about investigating fraud."All the talk about Bernie Madoff and others has everyone thinking about Ponzi schemes. Have you invested in a potential Ponzi? It's only natural to be worried, and in my opinion, investors haven't been skeptical enough...

More on Frank Castaldi from his Victims

Posted on March 25, 2009
Image via WikipediaFrom a reader, and I encourage others to express themselves. Because this is real life and the pain con criminals inflict."Frank Castaldi: How was your week, want to hear about mine? Well I didn't hear of anyone killing themselves last week...

Fraud News You Can Use

Posted on March 25, 2009
Image via WikipediaEd Dickson, writing at his blog Fraud, Phishing and Financial Misdeed, discovers gambling in a casino."A story of an undercover investigation by the BBC shows how dishonest employees at call centers -- who collect plastic payment card details on clients -- might be making a little extra pocket change by selling them...

Construction Ponzi

Posted on March 25, 2009
Image by Getty Images via DaylifeFrom the FBI Press Release on Wendell Spell's construction ponzi scheme. WENDELL RAY SPELL, 50, of Gainesville, Georgia, pleaded guilty today in federal district court to charges arising out of a scheme to defraud investors out of more than $60 million...

6 Dangerous Myths about Franchising

Posted on March 24, 2009
Image by Raymond Yee via FlickrIn my litigation practice, I routinely hear very sad, sobering and terrible stories from people who have bought into the Franchise Fraud.  Let me be clear, I think franchising when done properly can be a terrific method of distribution which rewards the franchisor and franchisee...

Miami Man Gets 17 Years for Ponzi Scheme

Posted on March 23, 2009
Image via WikipediaFrom the FBI Press Release on sentencing in the Bottom Line Ponzi.R. Alexander Acosta, United States Attorney for the Southern District of Florida, and Jonathan I. Solomon, Special Agent in Charge, Federal Bureau of Investigation (FBI), announced that defendant Andres Leonel Pimstein, of Miami, FL, was sentenced today by U...

Consumers Warned About Açai Scams

Posted on March 23, 2009
Image via WikipediaFrom the Center For Science in the Public Interest about website fraud:"The Center for Science in the Public Interest is warning consumers not to enroll online in supposedly free trials of diet products made with the trendy Brazilian berry açai (pronounced a-sigh-EE)...

The Discovery of a Fraud or Scam After the Fact

Posted on March 23, 2009
Image via WikipediaThe history of failed Ponzi schemes is similar to the failure of business opportunities frauds. After the fraud is discovered, or there is an announcement of an official nvestigation, investors all of a sudden become super slueths in their due diligence...

Franchises are Consumers in South Africa

Posted on March 20, 2009
Image via WikipediaNixon Peabody LLP has an overview of the new proposed franchise legislation in South Africa."Under the bill, franchisees are explicitly included as "consumers." They are also given a number of consumer rights, including the right to equality, privacy, choice, information, disclosure, fair and responsible marketing, honest dealing, fair agreements, fair value, good quality, safety, and supplier accountability...

Shubik's Dollar Auction Game - Not Rational to Play?

Posted on March 19, 2009
In 1992, William Poundstone wrote a series of essays on game theory aimed at an introductory audience.  The essays are worth reading, as he is constantly developing upon the theme how these strategic problems occupy real world considerations.One of his expositions was on Martin Shubik's Dollar Auction game,Much like Thaler's winner's curse, this appears to be another auction not worth playing...

Aiding and Abetting Madoff

Posted on March 19, 2009
Image via WikipediaFrom the SEC Press Releas on the charging the auditors of Madoff's Ponzi scheme.The Securities and Exchange Commission today charged the auditors of Bernard Madoff's broker-dealer firm with committing securities fraud by falsely representing that they had conducted legitimate audits, when in fact they had not...

Fraud News You Can Use: Identity Theft, Rational Thinking, and Free Stuff

Posted on March 19, 2009
Image via WikipediaEd Dickson, writing at his blog Fraud, Phishing and Financial Misdeeds has a nice post about identity theft.  Here is the beginning, but you should read the whole article on identify theft."Identity theft is a serious subject, and according to recent reports, it's a growing problem...

Buying a Franchise as Partners

Posted on March 19, 2009
Image via WikipediaSeth Godin has some useful advice for potential partners who want to buy a franchise or some other business, but I would change one aspect of his advice."My best advice is to say, "Today, right now, your contribution is worth 5% of the company and my creation of the company is worth 5%...

What Content would you Pay for?

Posted on March 19, 2009
Some interesting thoughts the evolution of newspapers by John Temple, about seven minutes long. The modern newspaper will see itself more of a curator than an originator off all news. "I think the involving and bringing people in will be a very important part of whatever anything looks like, that this...

Regulators are not your Advisors

Posted on March 18, 2009
Image via WikipediaGeoff Kirbyson, writing at the Winnipeg Free Press, about a fraud conference held in Winnipeg writes:"Garry Schmidt, associate manager of special investigations at Great-West Life Assurance, agreed. He said the public often considers fraud as a victimless crime because nobody was shot, stabbed or suffered a bodily injury when their assets were taken...

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