Archive | January, 2005

RCMP irks alleged fraudster

By Sean McKibbon – A Brockville, Ontario, man accused of scamming U.S. and Canadian investors for hundreds of thousands of dollars in an offshore investment scheme has told a court he did nothing wrong and the RCMP just doesn’t understand. “There has been a catastrophic failure to understand anything I did by the RCMP,” said […]

Continue Reading

Isle of Man Will Now Take Some Online Bets From U.S.

By Matt Richtel – The Isle of Man, a British crown dependency in the Irish Sea, is reversing a four-year-old policy that has deterred Internet casinos based there from accepting bets from United States residents. The policy change, while affecting only a handful of Internet casinos, adds a wrinkle to an emerging trade battle between […]

Continue Reading

Thatcher’s Son Pleads Guilty in Coup Plot, Avoiding Prison

By Michael Wines – JOHANNESBURG, Jan. 13 – Sir Mark Thatcher, the son of a British political legend who became mired last year in a bizarre coup plot in Equatorial Guinea, abandoned his claims of innocence on Thursday and pleaded guilty in a Cape Town Court to helping finance mercenaries who were behind the failed […]

Continue Reading

Profile of a “Spam King”

By Brian McWilliams – Shiksaa, an anti-spam activist, learned that Scott Richter was the son of a certified public accountant and tax lawyer in San Diego. Richter saw less of his dad, Steven S. Richter, after age 11, when his parents divorced and his dad moved out. But Richter had acquired his father’s interest in […]

Continue Reading

Looking offshore can get you lost

By Chuck Jaffe – Yields on bank instruments continue to be wretched. So some investors are going to great lengths to get better rates. Even if it means looking at offshore certificates of deposit. The selling point is simple: Put your money in a foreign institution’s bank certificate and earn between two and three times […]

Continue Reading

Feds Bust Checker King in Money Plot

A prominent Petal businessman and founder of the International Checker Hall of Fame is free on bond following his arrest on money-laundering charges. Charles Walker, 72, was arrested Friday by immigration and customs agents on a criminal complaint filed by the U.S. Attorney’s office. According to the complaint, Walker attempted to conduct a financial transaction […]

Continue Reading

U.S. Drops Out of Top 10 ‘Freest’ Economies

The Heritage Foundation, which promotes low taxes and limited government regulation, reports the United States is tied for 12th place with Switzerland in the 2005 Index of Economic Freedom. The world’s second-largest economy, Japan, ranks 39th in the survey. The report shows “a net increase in global economic freedom” overall. The United States has dropped […]

Continue Reading

Bush: End ‘Frivolous’ Lawsuits

By Warren Vieth – COLLINSVILLE, Ill. — President Bush today demanded congressional action this year to rein in what he called “junk” lawsuits against doctors and hospitals, saying the time had come to impose federal restraints on a system traditionally left to the states. Taking his tort reform campaign to a southern Illinois county known […]

Continue Reading

Tax Refunds Help Rich, Hurt Poor

By Michael Marchant – Not since 1929, the year that marked the beginning of the Great Depression, has wealth in the U.S. been so heavily concentrated among the richest 1 percent of the population. This trend towards economic inequality increased sharply in 1970, and since that time there has been an enormous shift in the […]

Continue Reading