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Entries Tagged as 'Fraud Alert'

Target Recalls Storage Trunks because parent failed to use commonsense

May 20th, 2010 · Accountability, Fraud Alert

May 20, 2010 Release #10-239
Firm’s Recall Hotline: (800) 440-0680
CPSC Recall Hotline: (800) 638-2772
CPSC Media Contact: (301) 504-7908

Target Recalls Storage Trunks Due to Strangulation Hazard

WASHINGTON, D.C. – The U.S. Consumer Product Safety Commission, in cooperation with the firm named below, today announced a voluntary recall of the following consumer product. Consumers should stop using recalled products immediately unless otherwise instructed. It is illegal to resell or attempt to resell a recalled consumer product.

Name of Product: Woven Storage Trunks
Units: About 350,000
Importer: Target Corp., of Minneapolis, Minn.

Hazard: The lid of the trunk can drop suddenly when released, posing a strangulation hazard to small children opening or reaching into the trunks.

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Supreme Court nominee Kagan: No Judcial Experience and perhaps an Obama “rubber stamp”

May 12th, 2010 · Congress, Deception, Democrats, Ethics, Fraud Alert, Government Control, Non-Transparency, Obama Nominees, Obama's Scheme, Politics, Selling Out the US, Supreme Court

Senators query Supreme Court nominee Kagan

By Perry Bacon Jr. Washington Post Staff Writer
Wednesday, May 12, 2010; 4:40 PM

Senate Republicans pressed Supreme Court nominee Elena Kagan Wednesday on her lack of judicial experience and her support for a policy that once banned military recruiters from some college campuses in her first appearance on Capitol Hill since her nomination earlier this week.

Following in the tradition of past Supreme Court nominees, Kagan visited the offices of key senators for private meetings lasting about 30 minutes each. Kagan, the U.S. solicitor general, said almost nothing publicly, ignoring questions shouted at her by reporters as she walked through the halls of Congress with four White House officials in tow.

Most of the five members she has met with so far — three Democrats and two Republicans — have said little in detail about their sessions. But Sen. Jeff Sessions (R-Ala.), the top Republican on the Judiciary Committee, which will hold Kagan’s nomination hearings, said he aired GOP concerns about her lack of judicial experience.

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Democrats urge fast action to limit salt in processed foods calling the matter a “public health crisis”

April 21st, 2010 · Deception, Democrats, Ethics, Federal Spending, Fraud Alert, Government Control, Health

By Lyndsey Layton – Wednesday, April 21, 2010

Two members of Congress urged the Food and Drug Administration on Tuesday to move quickly to limit the amount of salt in processed foods, calling the matter a “public health crisis” that demanded a swift response from government.

“I understand they want to do it in a phased kind of a deal, but I don’t want it to be too long,” said Sen. Tom Harkin (D-Iowa), chairman of the Health, Education, Labor and Pensions Committee. “This is crying out for change that’s long overdue.”

Rep. Rosa DeLauro (D-Conn.) agreed, saying in a conference call with Harkin and reporters: “I don’t want this to take 10 years. . . . This is a public health crisis.”

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SEC accuses Goldman Sachs, Fabrice Tourre of defrauding investors

April 17th, 2010 · Banking Industry, Economy, Fraud Alert

By Zachary A. Goldfarb Washington Post Staff Writer
Saturday, April 17, 2010

The Securities and Exchange Commission filed fraud charges against Goldman Sachs on Friday, alleging that the famously successful but vilified Wall Street bank sold investors a subprime-mortgage investment that was secretly designed to lose value.

In filing the civil suit, the agency targets one of the few banks that, with the help of taxpayer bailouts, emerged from the financial crisis stronger than before. The case strikes at a main cause of the financial crisis: the creation of investments derived from home loans made to borrowers who couldn’t afford the houses they were buying.

But the suit, which alleges that Goldman Sachs misled its clients, goes beyond, raising the possibility that the bankers who devised these investments knew they were selling toxic financial products that could endanger the financial system but were concerned only with the fees they would earn by doing so.

The SEC suit comes against the backdrop of a escalating battle on Capitol Hill over how best to overhaul the regulation of financial firms and prevent the kind of abusive practices that contributed to the worst financial crisis in decades.

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Democrat Math Strikes Again – Deficit Illusions

April 14th, 2010 · Deception, Democrats, Economy, Ethics, Federal Spending, Fraud Alert, Money Lost, Non-Transparency, Obama Exposed, Obama's Scheme, Selling Out the US, Tax Dollars, Taxes

Obama team points to smaller deficit numbers

By David Cho Washington Post Staff Writer
Tuesday, April 13, 2010

The federal deficit is running significantly lower than it did last year, with the budget gap for the first half of fiscal 2010 down 8 percent over the same period a year ago, senior Obama administration officials said Monday.

The officials attributed the results to higher tax revenue and to lower spending than projected on bailing out the financial system. If the trend continues for the rest of the year, it would mean the annual deficit would be $1.3 trillion — about $300 billion less than the administration’s projection two months ago for 2010.

But by suggesting the deficit may have peaked, administration officials are taking a political gamble. If the favorable number does not hold up in coming months and the budget shortfall surpasses the $1.4 trillion recorded last year, voters in the November midterm elections could punish the Democrats for offering false hope.

No official statement on the deficit is scheduled until the release of a late-summer review. The officials spoke on the condition of anonymity because the findings are preliminary and the results for the full year might not turn out so well.

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Crooked Democrats receive financial return on their Earmarks

March 18th, 2010 · Congress, Corruption, Deception, Democrats, Ethics, Federal Spending, Fraud Alert, Greed, Money Lost, Non-Transparency, Selling Out the US, Tax Dollars, Terrorism from Within

Democrats retain advantage among big donors even as total fundraising edge slips

By DAN EGGENWashington Post Staff Writer
Thursday, March 18, 2010

Democrats are having a number of serious problems on the fundraising front, from unhappiness among Wall Street financiers to a narrowing gap with Republicans since the 2008 elections.

But Democrats can still cling to one thing: They remain the kings of collecting money from big donors.

A little-noticed Federal Election Commission report released this month — and spotted by Washington Post congressional guru Paul Kane — shows that the three main Democratic committees raised more than twice as much from large donors as their Republican counterparts last year.

The numbers add context to a debate in fundraising circles over whether wealthy donors might be giving less to the Democratic Party because of disputes over White House policies. A number of organizations, including The Post, have chronicled how Wall Street financiers and other patrons who backed Barack Obama in 2008 are either abandoning Democrats or, at the very least, giving less money than in the past.

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Beware of IRS’ 2010 “Dirty Dozen” Tax Scams

March 16th, 2010 · Fraud Alert, IRS

Videos
Dirty Dozen: English
Message for Tax Preparers: English | ASL
Choosing a Tax Preparer: English | Spanish | ASL
For this and other videos: YouTube/IRSVideos

WASHINGTON — The Internal Revenue Service today issued its 2010 “dirty dozen” list of tax scams, including schemes involving return preparer fraud, hiding income offshore and phishing.

“Taxpayers should be wary of anyone peddling scams that seem too good to be true,” IRS Commissioner Doug Shulman said. “The IRS fights fraud by pursuing taxpayers who hide income abroad and by ensuring taxpayers get competent, ethical service from qualified professionals at home in the U.S.”

Tax schemes are illegal and can lead to imprisonment and fines for both scam artists and taxpayers. Taxpayers pulled into these schemes must repay unpaid taxes plus interest and penalties. The IRS pursues and shuts down promoters of these and numerous other scams.

The IRS urges taxpayers to avoid these common schemes:

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Key vacancies give Obama a chance to steer financial reform

March 8th, 2010 · Congress, Corruption, Deception, Democrats, Economy, Ethics, Federal Spending, Fraud Alert, Government Control, Greed, Money Lost, Non-Transparency, Obama's Scheme, Selling Out the US, Tax Dollars, Taxes, Terrorism from Within, Treason

By Binyamin Appelbaum Washington Post Staff Writer
Monday, March 8, 2010

President Obama has the chance during his first term to appoint leaders for each of the federal agencies that oversee banks, an important opportunity to reshape the government’s approach to regulation even as the White House struggles to push structural reforms through the Senate.

In his first such decision, Obama chose to keep Ben S. Bernanke as chairman of the Federal Reserve, in part because administration officials concluded that Bernanke had demonstrated a commitment to increasing the Fed’s focus on regulation and consumer protection. The administration also appointed a second Fed governor, Daniel K. Tarullo, to lead an overhaul of the central bank’s approach to regulation.

A second opportunity comes in August, when John C. Dugan reaches the end of his term as comptroller of the currency, the chief regulator for most of the nation’s largest banks.

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Misuse of Home Buyer Tax Credit Reported

December 28th, 2009 · Buyers, Fraud Alert, Housing Industry

A report earlier this month from the Treasury Inspector General for Tax Administration estimates that 73,799 taxpayers have incorrectly claimed the first-time home buyer tax credit. The report concludes: “The IRS is unable to verify eligibility for the majority of Recovery Act benefits at the time a tax return is processed.”

The IRS didn’t dispute the claim, but said it was studying the matter further. Some have suggested that this report and others will encourage Congress to put some safeguards in place before more claims result from the extension and expansion of the tax credit.

Source: The New York Times, Lynnley Browning (12/22/2009)

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Kuwait-based military contractor accused of inflating food prices

November 17th, 2009 · Deception, Federal Spending, Fraud Alert, Government, Tax Dollars, Terrorism from Within

Indictment against Public Warehousing follows multiyear probe

By Walter Pincus Washington Post Staff Writer
Tuesday, November 17, 2009

A major Kuwait-based military contractor was indicted Monday for allegedly defrauding the U.S. government by submitting inflated bills and false claims under contracts through which it has supplied $8.5 billion in food and other products to the American military in Iraq, Kuwait and Jordan over the past six years.

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