The Many Forms of Elder Financial Abuse

American seniors, holding trillions in wealth, are increasingly targeted by fraudulent schemes to separate them from their hard earned savings.  This epidemic of elder financial abuse takes on many forms, including: Predatory Lending, often using reverse mortgage loans Pyramid or Ponzi schemes with promises of unreasonably high returns Internet/Email phishing to obtain access to bank …

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IRS Confirms Continued Deductibility of Business Meals (When Separable from Entertainment)

For months, the American Institute of CPAs (AICPA) and American businesses have been requesting guidance from the U.S. Treasury Department and Internal Revenue Service (“IRS”) regarding changes made by the Tax Cuts and Jobs Act (TCJA) (Pub. L. No. 115-97) that disallowed the deductibility of entertainment, amusement, recreation and qualified transportation fringe expenses. Businesses and their accounting …

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SEC Charges San Diego Duo in Alleged Ponzi Scheme

The Securities and Exchange Commission (“SEC”) charged Jonny Ngo, Donato “Mick” Baca, Jr., and NL Technology, LLC with defrauding hundreds of investors by running a Ponzi scheme. A Ponzi scheme is a type of investment fraud that sustains itself by paying claimed returns to existing investors with fresh money from new investors, while also enriching …

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Check Amounts Can Differ Substantially from Class Action Settlements Per Claim

The reported value per claim in a class action settlement can differ significantly from the actual check a class member receives.  Both StarKist and Trader Joe’s have faced class action lawsuits involving damages for allegedly under-filled cans of tuna.  Both defendants settled for cash amounts in the range of $25-29 per claim (although StarKist also …

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Alleged Kickback Scheme at Popular Pharmacy

A universal risk to companies that employ individuals and engage outside vendors are vendor billing schemes.  The most recent instance to hit the news is an alleged kickback scheme involving advertising services provided to Rite Aid. The Central Penn Business Journal (“CPBJ”) reports that a former Rite Aid Vice President of Advertising has tentatively agreed …

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After The Storms Come the Scams

While natural disasters bring out the worst elements of nature, it can bring out the best in humanity.  There is often a tremendous outpouring of support and generosity toward those affected.  Unfortunately there is also a darker underside, as the opportunity arises to take advantage of the good intentions of others or the desperation of …

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Valuing Higher Education in Lost Income Claims

A typical lost earnings analysis endeavors to value the personal income that was lost due to injury or loss of employment opportunities.  This is more challenging when income is not yet established, e.g. when the injured Plaintiff has yet to enter the workforce or there is evidence that the Plaintiff would have otherwise altered their …

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Calculating Future Lost Earnings with No Earnings History

One common point of disagreement amongst opposing sides of a lost earnings case is future earnings, especially when the claimant has no meaningful earnings history.  This typically occurs in personal injury cases in which the injured party is a child or an adolescent.  Recently published data by the Board of Governors of the Federal Reserve …

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Calculate Economic Damages Associated with Lost Earnings Claims Accurately and Efficiently

Lost compensation is a method of capturing economic damages in personal injury, medical malpractice, wrongful termination, failure to promote and other similar torts.  Independent damages experts (often economists or CPAs) are often employed to calculate lost compensation because of their unique background/skill set in addressing such economic losses.  However, the desire to minimize costs means …

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Federal Circuit Allows Flexibility in Determining Royalty Rate

The US Court of Appeals for the Federal Circuit’s recent decision in Exmark Manufacturing Company  v. Briggs & Stratton Power Products Group, LLC (January 2018) validates that there is no clear-cut method to value a patented invention’s contribution to a larger, multi-component product (aka apportionment).  Specifically, the Federal Circuit stated that “…apportionment can be addressed …

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