NJ Pension Fund Trustee Sentenced for Embezzling over $360K
Founder and trustee of a vending machine company’s pension sentenced to two and a half years in federal prison.
Regulation
Stanford University Owes $43 Million Endowment Tax Bill
The university said it is actively working to repeal or limit the 1.4% tax on returns.
Proposed UK Law Would Require Pensions to Report Climate Impact, a First Worldwide
However, trade association warns it would give the government ‘unprecedented new powers.’
Cryptocurrency Scam Allegedly Swindles Doctors Out of $33 Million
Michael Ackerman boasted his algorithm generated monthly profits of 15%.
UK Charity CEO Jailed for Five Years for Raiding Pension for Disabled
Regulator says fund was stolen from to buy homes in France and England.
Kentucky Lawmakers to Make Honorable Transfer into Depleted State Retirement System
Legislators convene to align their interests with that of their constituents under the state’s ailing pension system.
Cuts Proposed to Fed Retirement Intend to ‘Align with Private Sector’
Trump administration’s FY 2021 budget proposal includes mitigations to benefits paid out to beneficiaries, higher contributions.
Crypto Ponzi Scheme Took Millions from over 100 Investors
The alleged victims included former MLB players, their families, and senior citizens.
US Treasury Offers Schedule for 20-Year Bond Revival
Auctions will take place each year in February, May, August, and November.
Norwegian Internet Company Opera Sued over ‘Misleading’ IPO Documents
Class action lawsuit accuses software firm of predatory lending practices.
Mennonite Accountant Charged in $60 Million Ponzi Scheme
Philip Riehl allegedly scammed fellow Mennonites and Amish for nearly a decade.
Two Sent to Prison for $2.8 Million Investment Fraud Targeting Elderly Victims
Robert Stencil, Michael Duke allegedly enticed investors with a pre-public offering for a company that did not exist.
SEC Charges Two for Allegedly Selling Fake Interests in Marijuana Firm
Alleged fraudsters used ill-gotten gains to buy luxury cars and a yacht.
SEC Charges Convicted Criminal Over Fraudulent Coin Offering
Alleged perp in crypto-currency scam, Boaz Manor, said to dye his hair, grow a beard to hide identity.
Northrop Grumman Pays $12.4 Million to Settle 401(k) Lawsuit
Lawsuit said firm’s alleged fiduciary failures caused plan to lose over $13 million