Despite intensive lobbying efforts and lawsuits by the Association of Proprietary Colleges (APC), a U.S. District federal judge denied a challenge to the Obama administration’s rules limiting the amount of debt students can carry in career-training programs. This decision delivers a blow to the deteriorating for-profit college industry. Questions: 1. What are the new rules… Read more »
Posts Tagged: fraud victims
The Hidden Costs of Beautiful Nails
Manicures were once for special occasions only. Now they have become a staple for women across the economic spectrum. With more than 17,000 nail salons in the United States, there are about 2,000 nail salons in New York City alone. This New York Times research article looks at the dirty little secret of exploitation of… Read more »
Let’s Have Pizza!
According to the New York Times, the uptick in pizza sales in Brooklyn at Domino’s Pizza is due to stolen credit card numbers being used to order to see which cards were still active and could be used for bigger purchases. Questions: 1. Explain why the article called this a blend of high-tech fraud and… Read more »
Fraud is quicker than the law?
Without regulation of Bitcoin, consumers have no protection in a Bitcoin economy. The virtual currency continues to result in swindles, with little prospect of a crackdown. Questions: 1. What is a pump-and-dump scheme? 2. What event(s) sent Bitcoin’s price tumbling? 3. In the U.S., the SEC has not ruled that Bitcoin is a security. However,… Read more »
Academic Fraud
In the summer of 2011, Diederik Stapel was accused of research fraud. It became the lead story in the Netherlands and would dominate headlines for months. Overnight, Stapel went from being a respected professor to perhaps the biggest con man in academic science. Questions: 1. How did Stapel commit the fraud? 2. Why did Stapel… Read more »