Category: Corruption

Aug 10, 2022. The UK Serious Fraud Office (SFO) has secured the conviction of an investment manager for his role in setting up a fraudulent Cayman Islands-based fund. Timothy Schools created the Axiom Legal Financing Fund in 2009 to provide loans to law firms pursuing no-win-no-fee cases. He managed to secure over £100m ($121m, €118m) from around 500 investors, who were promised returns on the money they had put in the fund. The SFO explained investors were told their money would…

The Massachusetts Air National Guard member accused of leaking highly classified military documents is due back in court on Wednesday after being indicted on federal felony charges. Jack Teixeira is scheduled to be arraigned in the Worcester federal court on six counts of willful retention and transmission of national defense information. Teixeira, of North Dighton, has been behind bars since his April arrest on charges stemming from the most consequential intelligence leak in years. He was indicted by a grand jury last week. Teixeira is…

Afghanistan is a geographically diverse country, home to the beautiful blue city of Mazar-i-Sharif, wild slopes of the Hindu Kush mountains, and the Hazarchishma Natural Bridge, among other attractions. A good place to vacation with family? One verified — albeit parody — Twitter account labeling itself as the PR team for the Taliban thinks so. “Visit the magnificent nation of #Afghanistan, the real land of the free and the home of the brave, unlike the Americans,” tweeted Taliban Public Relations…

The US could be heading for economic turmoil again 15 years after the 2008 financial crisis rocked the country, three experts have said. Global finance giant Lehman Brothers filed for bankruptcy on September 15, 2008, more than 150 years after its founding. It was the first major US victim of the sub-prime mortgage collapse. The first warning of the Credit Crunch came a year earlier, with the run small regional British mortgage lender Northern Rock after it asked the Bank…

The trend of banks increasing their net interest margins and channeling their efforts into loan refinancing has raised concerns that it will reduce competition in the lending market. This shift could have significant implications for borrowers and the broader economy, according to Peter James (pictured above), director of non-bank lender Mortgage Ezy. “Banks are notorious for fattening their net interest margins (NIM) on loans whenever the cash rate scales higher,” James said. “While borrowers bear the brunt of RBA rate…

The poverty rate in the U.S. has risen dramatically in the year since pandemic benefits ran out — and the child poverty rate has more than doubled, according to U.S. Census Bureau data released Tuesday. Just a year ago, the Census Bureau found child poverty had hit a historic low. Experts point to the expanded child tax credit as key to this poverty yo-yo. Adam Ruben of the Economic Security Project says the tax credit went to more people, in…

FOR IMMEDIATE RELEASE Thursday, September 7, 2023 A jury in Miami convicted two defendants on Sept. 5 in a scheme involving the falsification and fabrication of clinical trial data. On Sept. 5, Miguel Angel Montalvo Villa, 53, and Ivette Maria Portela Martinez, 53, both of Miami, were each convicted of one count of conspiracy to commit wire fraud and one count of wire fraud. Montalvo also was convicted of making a false statement to a regulatory investigator with the Food…