Fraudulent Pre-IPO Stock

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Fraudster, Shamoon Rafiq, pleaded guilty to conspiracy to commit securities and wire fraud after a scheme to sell fake pre-IPO equity in Airbnb. Questions: Source: Goswami, R. (2024). Fraudster who peddled fake pre-IPO Airbnb stock falsely claimed to represent Egypt’s Mansour family. CNBC.com, Feb. 27 (Retrievable online at https://www.cnbc.com/2024/02/27/fraudster-impersonated-mansour-family-to-peddle-fake-airbnb-equity.html)

Harvard Business School Graduate Levies Ponzi Scheme Aimed at Alums

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According to CNBC, Harvard Business School graduate, Vladimir Artamonov lured fellow alumni into a Ponzi investment scheme. Questions: Source: Nova, A. (2024) Harvard Business School grad’s Ponzi scheme swindled alums out of $2.9 million, New York attorney general says. CNBC.com, Feb. 29 (Retrievable online at https://www.cnbc.com/2024/02/29/harvard-business-school-grad-allegedly-swindled-alums-with-ponzi-scheme.html)

Meta Vows to Label AI

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According to ABC News, Meta will begin labeling images created by artificial intelligence products. Questions: Source: Staff (2024). Meta will begin labeling AI-generated images, citing ‘blurred’ reality online. ABC News, Feb 6 (Retrievable online at https://www.msn.com/en-us/news/technology/meta-will-begin-labeling-ai-generated-images-citing-blurred-reality-online/ar-BB1hS8ho)

Estate of George Carlin Sues Over AI Comedy Special

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According to the Washington Post, George Carlin’s estate is suing the creators of an online comedy special that claimed to imitate the late comedian’s voice and sense of humor using artificial intelligence. Questions: Source: Chery, S. (2024) George Carlin’s estate sues over AI comedy special. The Washington Post, January 26 (Retrievable online at https://www.msn.com/en-us/news/us/george-carlin-s-estate-sues-over-ai-comedy-special)

No more U.S. Steel

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According to the Washington Post, Japan’s largest steelmaker, Nippon Steel, will purchase U.S. Steel in a, a deal valued at $14.1 billion. Questions: Source: Tan, E. (2023). U.S. Steel will be acquired by Japan’s Nippon in a $14.1 billion deal. The Washington Post, December 18 (Retrievable online at https://www.washingtonpost.com/business/2023/12/18/us-steel-nippon-acquistion)

Beware Evil-Doers!

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IRS Commissioner Daniel Werfel said Monday in a letter to leaders of the Senate Finance Committee that the agency would renew its effort to crack down on predatory (or bad) preparers. Questions: Source: Weil, J. (2023). IRS vows to crack down on predatory preparers, change audit strategy. The Washington Post, Sep. 18 (Retrievable online at… Read more »

Would you Take a Chance on Fyre Festival 2?

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According to the New York Times, Billy McFarland is out of jail and selling tickets to Fyre Festival 2. Questions: Bernstein, J. (2022). Billy McFarland Is Out of Jail and Ready for His Next Move. The New York Times, September 14 (Retrievable online at https://www.nytimes.com/2022/09/10/fashion/billy-mcfarland-release.html) Zahn, M. and L. Barr. (2023). Fyre Festival 2 tickets… Read more »

Judge Vacates Conviction for Bribery Fraud Regarding Lucrative Rights To View Soccer Tournaments

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According to the New York Times, Hernán López, a former Fox employee, and an Argentine sports marketing company had been convicted of participating in a bribery scheme to secure rights to widely viewed soccer tournaments. Now an acquittal. Questions: Meko, H. and K. Bensinger. (2023). Judge Vacates Convictions in Bribery Case Over Soccer Broadcast Deals…. Read more »

Rite Aid – A Rocky Road Ahead

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According to CNN, Rite Aid shares slid lower as the pharmacy chain prepared bankruptcy filings this week while dealing with lawsuits over the sale of opioids. Questions: Source: Goodkind, R. (2023) Rite Aid stock is experiencing extreme turbulence: Here’s why. CNN, August 28 (Retrievable online at https://www.cnn.com/2023/08/28/investing/rite-aid-stock-bankruptcy/index.html)

It’s Called the “Urban Doom-Loop”

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With more people working remotely, companies are rethinking their plans to sign leases on business buildings in downtown areas all over the U.S. Questions: Source: Siegel, R. (2023). How the ‘urban doom loop’ could pose the next economic threat. The Washington Post, Aug. 28 (Retrievable online at https://www.washingtonpost.com/business/2023/08/28/commercial-real-estate-economy-urban-doom-loop/)