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.
When Wells Fargo fired 5,300 employees for opening 2,000,000 accounts in its customers name (stealing their cash and trashing their credit scores in the process), it wanted us all to know that it had cleaned house, because this was just 5,300 people who, without any help from senior management, all happened to coincidentally engage in […]
Beth Jacobson was a Wells Fargo loan officer who blew the whistle on the bank’s predatory, racist loan-fraud in the runup to the 2008 financial crisis, which tanked the world’s economy and nearly wiped out Wells Fargo (they were rescued with a $36B taxpayer-funded bailout).
If you own a dog, you’ve most likely heard of BarkBox – the monthly subscription box for dogs. What started as a simple idea to try out the subscription model on pet owners has since developed a cult following of dog lovers. If you haven’t given it a try yet, this one month free deal is the […]
With the iPhone headphone jack having gone by the wayside, we’re excited about the addition of the FRANKLIN Bluetooth Headphones in our store. These headphones are foldable so they’re easy to carry around, but most importantly, they pack impressive sound. Our biggest struggle with Bluetooth headphones is the worry of them dying at the worst moment. This pair lasts an impressive 8-10 […]
Evan Kimbrell, founder of the digital agency Sprintkick, recently released a series of online courses that feature some of the best advice we’ve come across. These courses are well worth your time, and will save you from making many typical mistakes down the line if you ever want to start your own business.With this Business […]