Paul Manafort’s inability to save Word files as PDFs provided the evidence necessary to indict him for fraud
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In the early 2000s, a mix of legislative action, vigorous prosecution and advanced countermeasures looked set to kill spam: the terrible economics of mass-scale marketing could easily be disrupted by even moderately effective curbs. (more…)
It's been a whole day since we learned about another example of systematic, widespread fraud by America's largest bank Wells Fargo (ripping off small merchants with credit card fees), so it's definitely time to learn about another one: scamming mortgage borrowers out of $43/month for an unrequested and pointless "home warranty service" from American Home Shield, a billion-dollar scam-factory that considers you a customer if you throw away its junk-mail instead of ticking the "no" box and sending it back. (more…)
"Pharma bro" Martin Shkreli was found guilty of three felony criminal charges today, including securities fraud.
From Washington Post:
“We’re delighted in many ways,” Shkreli said outside the courtroom, saying he was glad to be exonerated on many of the charges.
“This was a witch hunt of epic proportions,” he said. “They may have found some broomsticks.”
It's unlikely he would have to serve the maximum sentence of 20 years the judge could give him, and it's possible he will not have to go to prison at all and just pay a fine instead.
Wells Fargo didn't just steal millions from its customers with crooked overdraft fees, didn't just create 2,000,000 fraudulent accounts and threaten to blackball employees who tried to stop the frauds; didn't just defraud broke mortgage borrowers by the bushel-load -- they also defrauded 800,000 customers with car loans, forcing 274,000 of them into deliquency and "wrongfully repossessing" (that is, stealing) 25,000 of their cars. (more…)
When a network TV show performs badly, the networks deliberately introduce errors into the episodes' metadata before submitting it to the Nielsen ratings, so that the episode is counted as a separate show and doesn't bring the season's average rating down. (more…)