Word: scams
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Dates: during 1990-1999
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...Frankel learned a lesson from his failed funds, it was that clients insist on getting their money back. He needed to find clients who wouldn't be so demanding. Even better, if he could somehow become both client and money manager, he could create a truly sustainable scam. That's when the insurance companies entered the picture...
...Nashville businessmen, who also claim to be victims. Frankel then used Franklin American's assets to purchase at least 10 other insurance companies throughout the South and Midwest. Laxly regulated insurance companies such as Franklin American, which mostly sold burial policies, are perfect targets for scam artists: they collect regular cash premiums that are supposed to be prudently invested and are paid out only as policies come due. Instead the premiums were invested in Liberty National, a trading firm Frankel set up and controlled...
...excerpt Rushdie chose on Monday diverged from that theme, focusing on the beginning of Rai's career as a photographer and the exposure of a nationwide scam...
...excerpt Rushdie chose on Monday diverged from that theme, focusing on the beginning of Rai's career as a photographer and the exposure of a nationwide scam...
Computer meltdowns aren't the only threat posed by the Y2K bug. Scam artists are trying to convince people they need to move their money into "Y2K safe" bank accounts, which means giving the crooks the chance to swipe your savings, regulators told Congress last week. Most banks are Y2K compliant--and if not, the FDIC insures each account for as much...