Sports Betting in All States!

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According to the New York Times, The Supreme Court struck down a federal law that effectively banned commercial sports betting in most states, boosting the prospect of such gambling across the nation. Questions: 1. Who are the winners in this decision? 2. Who are the losers in this decision? 3. According to the article, what… Read more »

The Top Frauds of 2017

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Monica Vaca, the Associate Director of the Division of Consumer Response and Operations at the Federal Trade Commission (FTC) just released the results from last year regarding the top frauds of 2017. Topping the list of reported frauds are the imposter scams, with nearly 350,000 reported. Questions: 1. How many people fell for someone pretending… Read more »

Big Time Food Stamp Fraud

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Sheriff Mike Williams of Jacksonville, Florida, announced Tuesday the results of a multi-agency, undercover investigation into the exchange of Supplemental Nutrition Assistance Program (SNAP) benefits for cash and, in at least one case, cocaine. Questions: 1. From 2012 to 2017, how many food stamp transactions were fraudulent in Jacksonville and what was the dollar amount?… Read more »

It’s just for my stockholders

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Martin Shkreli, a former pharmaceutical executive notorious for increasing the price of Daraprim by 5,000 percent, along with mounting sneering defenses of his actions and even issuing a bounty for one of Hillary Clinton’s hairs, was sentenced to seven years in prison for fraud.   Questions: What had prosecutors sought for a sentence? What had… Read more »

Better Late than Never

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Defense Department Comptroller David Norquist announced that the Department of Defense (DoD) would undergo its first-ever, financial audit beginning this month. Questions: 1. How many auditors will be tasked with spreading out across the department to examine the records? 2. How much in assets is it estimated that the Pentagon has? 3. According to Norquist,… Read more »

Navient – Student Loan Corp. Look Out!

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The call has gone out for the U.S. Securities and Exchange Commission to investigate possible insider trading of shares of student loan company Navient Corporation. Questions: 1. Who has asked the SEC to do this? 2. Why do the Senators suspect this? 3. What are the implications of the details surrounding the trades? Source: Nasiripour,… Read more »

How Low Can You Go?

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Barbara Barkley lost her house and her savings to a group of California scam artists who stole $11 million from thousands of struggling homeowners looking for help with their mortgages. Questions: 1. Who was the ringleader of the scam and what sentence does he face? 2. How did the scam work? 3. Why wasn’t there… Read more »

But wait…..there’s more………

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Already struggling to rebuild its reputation after disclosing the creation of fraudulent bank accounts, the New York Times indicates that Wells Fargo may soon release information about even more fraudulent account creation. Questions: 1. Based on the new investigation, how many accounts were found and over what period? 2. What is the new regulatory issue… Read more »

A New Way to Raise Money

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Interestingly, some entrepreneurs are following a new path, which avoids venture capital pitches or crowd funding. In this quest, before they even have a working product, they are creating their own digital currencies and selling so-called coins on the web, which sometimes raises them tens of millions of dollars in a matter of minutes. Questions:… Read more »