A recent Wall Street Journal (“WSJ”) article brought to my attention a very “2K15” problem, urbanites in many of the nation’s big cities are struggling to deal with the annoyance of living next to CrossFit gyms. CrossFit is a highly intense workout regimen which has in the last several years become hugely popular. Many of …
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Permanent link to this article: https://betweenthenumbers.net/2015/06/a-classic-coase-solution-to-a-modern-problem-the-crossfit-dispute/
Jun 14
Canada Audits Dubious Senator Expenses At Great Cost
The recently released report by the Canadian Auditor General details numerous incidents of inappropriate spending by members of the Canadian Senate. The report investigated 116 current and former senators and 80,000 expense items totaling CAD $45,000,000 over a period from April 1, 2011 to March 31, 2013. 30 of the senators under investigation were found …
Permanent link to this article: https://betweenthenumbers.net/2015/06/canada-audits-dubious-senator-expenses-at-great-cost/
Jun 01
Investors Accuse Ernst & Young Accused of Being Complicit in Bribery Scandal
CtW Investments Group (“CtW”), which represents a group of minority shareholders in Wal-Mart, has accused the firm’s external auditor Ernst & Young (“E&Y) of having had early knowledge of Wal-Mart’s violation of the Foreign Corrupt Practices Act related to bribery allegations in Mexico. In a letter to the Public Accounting Oversight Board, CtW reports that …
Permanent link to this article: https://betweenthenumbers.net/2015/06/investors-accuse-ernst-young-accused-of-being-complicit-in-bribery-scandal/
May 31
The Cancer Fund of America and Its Related Charities Are Called a Fraud
An alleged fraud was recently uncovered at The Cancer Fund of America and its related entities, including The Breast Cancer Society and The Children’s Cancer Fund of America. James Reynolds and his family members are believed to have stolen $187 million from donors in these charities over five years and spent the monies on lavish …
Permanent link to this article: https://betweenthenumbers.net/2015/05/the-cancer-fund-of-america-and-its-related-charities-are-called-a-fraud/
May 17
Investors Allegedly Defrauded by ITT Technical Institute Executives
On Tuesday May 12, 2015 the Securities and Exchange Commission (“SEC”) charged the CEO and CFO of ITT Educational Services Inc. (NYSE: ESI) with fraud. The company which runs a popular nationwide chain of for-profit technical colleges under the name ITT Technical Institute (“ITT Tech”) allegedly defrauded investors by materially misstating the financial performance of …
Permanent link to this article: https://betweenthenumbers.net/2015/05/investors-allegedly-defrauded-by-itt-technical-institute-executives/
Apr 12
Pro-Athlete Lending Firm is an Alleged Ponzi Scheme
A Florida based financial advisory involved in professional athlete lending has been charged with defrauding its clients. On April 7th the Securities and Exchange Commission (“SEC”) charged William D. Allen and his business partner Susan C. Daub with running a Ponzi scheme which promised investors 18% returns, however a sizable portion of these “returns” were …
Permanent link to this article: https://betweenthenumbers.net/2015/04/pro-athlete-lending-firm-is-an-alleged-ponzi-scheme/
Apr 06
Massive Fraud in the Middle East
The New Yorker magazine recently ran a scathing review of the collapse of The International Banking Corporation (“TICB”), the largest credit default and potential Ponzi scheme ever experienced in the Middle East. At its core was a man named Maan al-Sanea, a son-in-law to a prestigious Saudi Arabian family, who borrowed billions of dollars from …
Permanent link to this article: https://betweenthenumbers.net/2015/04/massive-fraud-in-the-middle-east/
Apr 04
The Results Are In For the 2014 AICPA Trends in Forensic and Valuation Services Survey
The American Institute of Certified Public Accountants (“AIPCA”) recently released the findings of its most recent Survey on International Trends in Forensic and Valuation Services (“Survey”). The Survey polled 443 professionals, including 55% who worked in public accounting and/or consulting firms. The remainder were professionals working in business and industry, education, law enforcement, and government. …
Permanent link to this article: https://betweenthenumbers.net/2015/04/the-results-are-in-for-the-2014-aicpa-trends-in-forensic-and-valuation-services-survey/
Mar 31
VC Firm Wins Gender Based Failure to Promote / Wrongful Termination Case
Last week a half male/half female jury determined that Kleiner Perkins Caufield & Byers (“Kleiner Perkins”), one of the country’s most prominent venture capital (“VC”) firms, did not discriminate against junior partner Ellen Pao (“Pao”). Pao was seeking $16 million in economic damages in addition to punitive damages to compensate for the alleged inequitable promotion …
Permanent link to this article: https://betweenthenumbers.net/2015/03/vc-firm-wins-gender-based-failure-to-promote-wrongful-termination-case/
Mar 14
“Blurred Lines” Infringement Verdict Is In
The copyright infringement case brought by the estate of Marvin Gaye against the popular musicians Robin Thicke, Pharrell Williams, and “T.I”, as well as their respective record companies, was decided by jury verdict on March 10th. The jury awarded the Gaye estate $7.4 million in damages, to be paid by Thicke and Williams, with the …
Permanent link to this article: https://betweenthenumbers.net/2015/03/blurred-lines-infringement-verdict-is-in/
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Devin Yaeger