Word: federales
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Dates: during 1980-1989
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All told, the Federal Trade Commission estimates, con artists working the phones got away with at least $1 billion last year. Other fraud experts put the total as high as $10 billion. Legislators and law-enforcement agencies have stepped up their efforts to disconnect the crooks, but at the moment...
Fast-rising prices in the art market have inspired a hot new trade in phony prints. Hundreds of people have paid as much as $4,000, sight unseen, for "limited-edition" originals. The FTC has sued Federal Sterling Galleries, a telemarketer in Scottsdale, Ariz., for allegedly peddling photographs of artworks...
Fraudulent telemarketers are particularly hard to catch because they tend to keep their operations small. The typical setup is a "boiler room" in which a dozen or more employees reading from sales scripts feverishly work the phones, contacting hundreds of potential victims a day. Thousands of boiler rooms are located...
So far, few laws stand in the way of these scams, partly because they have taken forms that were not anticipated when current statutes were written. In addition, laws covering such crimes as interstate wire fraud are difficult to use against the relatively small swindles usually worked on consumers. The...
Washington is showing renewed interest in measures that would encourage oil companies to produce more and consumers to use less. One proposal is to increase incentives to the oil industry, which has moved its production overseas partly because tax breaks for U.S. drilling have declined in recent years. Another resurgent...