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There has been a flurry of activity in the emerging legalized cannabis industry, as regulations and restrictions continue to decrease. Given that the U.S. cannabis market is estimated to be approximately $60 billion, with still plenty of room to grow, it is not surprising that many investors are looking at this industry. However, prudent investors …
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Permanent link to this article: https://betweenthenumbers.net/2018/10/cannabis-company-valuations-present-unique-challenges/
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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Permanent link to this article: https://betweenthenumbers.net/2018/10/the-many-forms-of-elder-financial-abuse/
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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Permanent link to this article: https://betweenthenumbers.net/2018/10/irs-confirms-continued-partial-deductibility-of-business-meals-when-separable-from-entertainment/
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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Permanent link to this article: https://betweenthenumbers.net/2018/10/sec-charges-san-diego-duo-in-alleged-ponzi-scheme/
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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Permanent link to this article: https://betweenthenumbers.net/2018/09/check-amounts-can-differ-substantially-from-class-action-settlements-per-claim/
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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Permanent link to this article: https://betweenthenumbers.net/2018/09/alleged-kickback-scheme-at-popular-pharmacy/
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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Permanent link to this article: https://betweenthenumbers.net/2018/09/after-the-storms-come-the-scams/
The current tax season brings some small consolation to victims of Ponzi schemes and certain other financial fraud, with the Internal Revenue Service (“IRS”) allowing duped investors to obtain partial relief in the form of a theft loss tax deduction. Internal Revenue Code (“IRC”) 165(a) provides that a theft loss incurred in a transaction entered …
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Permanent link to this article: https://betweenthenumbers.net/2018/03/tax-deduction-available-for-ponzi-scheme-related-theft/
General Cable Corporation announced that it has entered into a joint settlement with the Securities and Exchange Commission (“SEC”) and Department of Justice (“DOJ”) for a total payment of $82.3 million to address investigations into violations of the U.S. Foreign Corrupt Practices Act (“FCPA”) and separate allegations regarding financial restatements. In 2014, General Cable voluntarily …
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Permanent link to this article: https://betweenthenumbers.net/2016/12/general-cable-settles-with-sec-and-doj-for-82-3-million/
Finjan, Inc. (‘Finjan”) vs. Sophos, Inc. (“Sophos”) is a patent infringement action involving 14 different claims related to six different patents for computer and network security technology. Many patented products, particularly those involving technology, use more than one patent. As described in this related article, a damage analyst in this situation will often need to …
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Permanent link to this article: https://betweenthenumbers.net/2016/09/patent-feature-double-count-sinks-damages-calculation/
