Personal Finance

SCHNEIDERMAN ANNOUNCES ARREST AND INDICTMENT OF NEW JERSEY BROKER IN $1 MILLION SECURITIES FRAUD CASE

  2 years ago     2233 Views     Leave your thoughts  

Khawaja Saud Masud Charged With Grand Larceny And Securities Fraud For Fraudulently Soliciting Investment In His Purported Hedge Fund Masud Promised To Conservatively Invest The Victims’ Retirement Monies, But Instead Incurred Losses Of Almost $1 Million In Just Three Months Schniederman: My Office Will Hold Brokers Who Commit Securities Fraud Accountable WESTCHESTER - Attorney General Eric T. Schneiderman announced today felony charges against Khawaja Saud Masud, 37, of Jersey City, NJ, for stealing over $1 million from a retired pediatrician and his wife by fraudulently soliciting them to invest in his purported hedge fund, RKS Capital, LP. The defendant is…

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Op-Ed: Spot the Scammers, Save Your Home

  2 years ago     1614 Views     Leave your thoughts  

By Eric T. Schneiderman Every day struggling New Yorkers who are behind on their mortgages—facing foreclosure, and desperate to keep their heads above water—are bombarded with TV and radio ads promising lower interest rates or a reduction in their mortgage principal if they “call now!” Too many New Yorkers who make that call end up even deeper in debt—victimized by a mortgage rescue scam instead of getting the help they need. Since I took office as Attorney General almost four years ago, I have made it a top priority to help New York families hurt by the crash of the…

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The Red Cross CEO Has Been Serially Misleading About Where Donors’ Dollars Are Going

  2 years ago     991 Views     Leave your thoughts  

by Jesse Eisinger and Justin Elliott, ProPublica This story was co-produced with NPR. The American Red Cross regularly touts how responsible it is with donors' money. "We're very proud of the fact that 91 cents of every dollar that's donated goes to our services," Red Cross CEO Gail McGovern said in a speech in Baltimore last year. "That's world class, obviously." McGovern has often repeated that figure, which has also appeared on the charity's website. "I'm really proud" that overhead expenses are so low, she told a Cleveland audience in June. The problem with that number: It isn't true. After…

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Fraud Alert- IRS Phone Scam

  2 years ago     568 Views     Leave your thoughts  

On Monday November 17, 2014 the Clarkstown Police Department responded to a large number of complaints reporting an IRS phone scam.  Each person stated that they had received a phone call from a computer generated female voice stating that she was with the IRS and that the IRS was going to be filing a law suit against the victim. The victims were instructed to call 315-307-3190 or 3184. Caller ID showed the calls came from the following area codes, 716, 917 and 932 thru 939.  The Clarkstown Police Department would like to remind anyone receiving a phone call from any…

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TurboTax Maker Linked to ‘Grassroots’ Campaign Against Free, Simple Tax Filing

  2 years ago     604 Views     Leave your thoughts  

by Liz Day, ProPublica Related Stories: Read how the maker of TurboTax, Intuit, has lobbied against free, simple tax filing, or hear how ProPublica's director of research, Liz Day, discovered Intuit's grassroots campaign. Over the last year, a rabbi, a state NAACP official, a small town mayor and other community leaders wrote op-eds and letters to Congress with remarkably similar language on a remarkably obscure topic. Each railed against a long-standing proposal that would give taxpayers the option to use pre-filled tax returns. They warned that the program would be a conflict of interest for the IRS and would especially hurt low-income people, who wouldn't have the…

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