The FDIC has issues a special alert warning that America's debt-haunted, cash-strapped banks are falling prey to conmen working the advance fee fraud, the same scam used in the familiar "Nigerian prince" or "419" scam. The banks fork over big bucks to supposed high-flying investors who are supposed to come through with large sums in return, but who vanish into the ether instead.
The FDIC has become aware of multiple instances in which individuals or purported investment advisors have approached financially weak institutions in apparent attempts to defraud the institutions by claiming to have access to funds for recapitalization. These parties also may claim that the investors, or individuals associated with the investors, include prominent public figures and that the investors have been approved by one or more of the federal banking agencies to invest substantial capital in the targeted institutions. Ultimately, these parties have required the targeted institutions to pay, in advance, retention and due diligence fees, as well as other costs. Once paid, the parties have failed to conduct substantive due diligence or to actively pursue the proposed investment.
In a new working paper from the Center for Economic Policy Research, scholars look at the trading records of shareholders, directors and top executives of major financial institutions in the runup to the crash of 2007, and find that the sell-offs by the top five executives at a bank strongly correlated with that bank’s losses […]
It’s true that the vote for Brexit was carried by working-class people in some of the poorest and most excluded regions in the UK; but the actual referendum question was put before the British public thanks to a small faction of some of the richest, most powerful people in the country — people who rely […]
3D printers are hot, but they’re also pricey. While the prospect of cranking out everything we can dream up is enticing, cost is often one factor that keeps us from jumping onto the 3D printing train.Now, thanks to M3D, that doesn’t have to be the case. You can now get its flagship 3D printer–plus four reels of filaments–for just […]
It’s no secret that technology is changing the way we all work—but it’s also transforming the way we play. The games of today look nothing like those of 10 or even 20 years ago: these days it’s all about mobile and 3D. And now you can learn to design 3D mobile games with the Intro to Unity 3D Game […]
Earbuds are fine for casual listening while you work out or run errands. But when you really want to experience music as it was intended, nothing beats a serious set of noise-canceling, soundscape-enhancing headphones.The REMXD On-Ear Bluetooth Headphones offer high-quality sound with complete wireless connectivity — and at just $35.99, this rechargeable set won’t even cut into […]