Anatomy of how crooks use financial secrecy in the UK and New Zealand to rip off international investors with impunity

The financial secrecy regimes in New Zealand and the UK create many opportunities for "jurisdictional regulatory arbitrage," playing each system's weaknesses off against the other to operate in near-perfect secrecy, creating companies whose owners are anonymized but still able to cash out the firms' profits -- an enormous boon to fraudsters who run Ponzi schemes and other dodgy enterprises that rely on the UK and New Zealands' reputation as places of good governance and financial uprightness. Read the rest

Independent auditor: Trump has made it impossible for students defrauded by predatory diploma mills to get their loans cancelled

The US Department of Education's Inspector General has released a report saying that the DoE has stopped cancelling the debts of students who were defrauded by fake universities. Read the rest

Transcripts from Martin Shkreli's jury-selection process

Before being convicted of felony securities fraud, smirking cartoon villain pharma-douche-bro Martin Shkreli had to be tried in front of a jury and this presented a unique problem because everyone hates Martin Shkreli, and thus more than 100 jurors were dismissed from the pool during pre-trial questioning. Here are some of the statements that led to those dismissals. Read the rest

Crash ahoy! London real-estate prices stagnate

In a world of expensive urbanization where the spiraling cost of basic shelter has forced ever-more people into debt and fuelled a speculative global bubble of criminal money-launderers who use luxury housing as empty safe-deposit boxes in the sky, London is ground zero. Read the rest

The Financial Times: Uber is doomed

On FT's Alphaville, Izabella Kaminska takes note of the excellent, deep series on Uber's Ponzi-economics that Hubert Horan published last year on Naked Capitalism and calls out some juicy highlights. Read the rest

If Google wins its trade secrets suit against Uber, it could tank Uber

Google is suing Uber, alleging that the company recruited a former Google exec who had secretly offered to give them access to trade-secrets from Google's self-driving car project. Read the rest

Billionaire charter-school advocate and political donor calls Betsy DeVos "unprepared and unqualified"

Eli Broad is a billionaire who's made major donations to both the GOP and Democrats to push for charter schools, and his Broad Foundation has spent millions lobbying for public funds to go to private schools ("school choice"); but even he thinks that charter school advocate/ponzi scheme billionaire/Christian warrior/plagiarist/sister of war criminal Erik Prince/latter-day Marie Antoinette/convicted election fraudster, Betsy DeVos is unqualified to serve as Secretary of Education, a role that Donald Trump has selected for her. Read the rest

"Nothing in life is truly free" -Billionaire heiress Betsy Devos, explaining to Bernie Sanders why your kids won't get free college tuition

Convicted election fraudster and public education opponent Betsy Devos made her billions through hard work -- really, you can't overstate the effort required to emerge from the loins of someone who married a rich guy, nor the work of later marrying someone else who emerged from the loins someone who married a rich guy. Read the rest

Uber's VAT-avoidance means it owes millions to EU states and will face huge cuts to future EU profits

The 2015 UK Employment Tribunal case that determined that Uber drivers were employees means that Uber will have to give the UK government 16.67% of its drivers' earnings for Value-Added Tax, going back four or more years (that would be £20M for 2015 alone); and the ruling will likely apply to Uber's EU-wide rules (because VAT rules are harmonized across the EU) -- so not only does Uber owe hundreds of millions to EU governments for the past 4+ years' earnings, but it will face a 16.67% (or more) reduction to all future earnings. Read the rest

Feds charge hedge-fund managers with $1B embezzlement

According to a federal indictment, Platinum Partners founder Mark Nordlicht and four others faked the hedge fund's books for years to allow them to siphon off one billion dollars to their personal accounts, swindling 600 investors. Read the rest