Archive | Jul 2008
Overstock continues to mislead investors with phony EBITDA calculation
In the past, I’ve discussed the improper EBITDA numbers reported by Overstock.com (NASDAQ:OSTK). It comes as no surprise that the con game continues with Overstock’s latest reported numbers. The SEC rules are very simple. “EBITDA” refers to a specific calculation, which is “earnings before interest, taxes, depreciation, and amortization.” Overstock.com and CEO Patrick Byrne have taken [...]
Continue reading...Book signing in Boston
18 Jul 2008
I just got back from the annual Fraud Conference put on by the Association of Certified Fraud Examiners. We were in Boston, and as usual, the sessions were fabulous. In terms of the sessions I had, this was the best conference yet. So much value provided by really excellent speakers. Thanks to everyone who bought [...]
Continue reading...No, book publishing is not going away
18 Jul 2008
Yesterday Fox Business interviewed Joe Wikert, a blogger and Vice President and Executive Publisher at John Wiley & Sons (the company that published my book!) Take a look at what Joe has to say below. I agree with him - Book publishing is not going away. It’s simply changing to capitalize on changes in the [...]
Continue reading...Dirty Little Secrets of Their Little Quixtar Cult
18 Jul 2008
Written by QuixtarIsACult Have you ever had an invite from a friend, associate, or a stranger that left you in the lurch wondering just what the invite was all about? Maybe, just out of the blue, an old acquaintance that you have not seen since high school calls you up and invites you to see something [...]
Continue reading...Another reason for Gerald Nehra to dislike the FTC Business Opportunity Rule: Lots of companies will have to comply!
17 Jul 2008
Another letter opposing the FTC’s Business Opportunity Rule was submitted by MLM attorney Gerry Nehra. His problem in this letter? The fact that there are many companies that would have to comply with the rule and the FTC cited the wrong number! Why would it matter if there are 150 or 1,500 companies that are [...]
Continue reading...MLM attorney Gerald Nehra and the FTC’s proposed Business Opportunity Rule
17 Jul 2008
I thought it might be some fun to do a little research on Gerald Nehra, the attorney for Shop To Earn, who likes to intimidate bloggers who write negative reviews of MLMs. I found this item from Nehra, in response to the FTC’s proposed Business Opportunity Rule. The rule is unlikely to be enacted in any [...]
Continue reading...A commentary on Usana Health Sciences
17 Jul 2008
This was written by TerminatedRamp, of Usana (NASDAQ:USNA) stock message board infamy: Understanding USANA’s Pyramid Scheme is Key To Financial Freedom If you want financial freedom, then understanding how USANA is a pyramid scheme can help you avoid losing thousands of dollars. All MLM companies admit that in a pyramid scheme, distributors are paid commission for signing new [...]
Continue reading...Word is getting out about ShopToEarn lawyer Gerald Nehra’s threats to bloggers
16 Jul 2008
Blatant acts of consumerism are occurring all over the internet. Far and wide, bloggers are banding together to spread the word about multi-level marketing attorney Gerald Nehra threatening bloggers on behalf of his client, Shop To Earn. It all started a few weeks ago when blogger Everyday Finance wrote a post about the ShopToEarn and ShopToEarth [...]
Continue reading...Shop To Earn lawyer ups the ante with financial blogger
15 Jul 2008
ShopToEarn is a multi-level marketing company recruiting new members who can receive a small percentage of cash back on their internet purchases. If they recruit enough new people into the scheme, who pay the $450 fee and do some shopping of their own, they can make a little more money. I have a dim view of [...]
Continue reading...More bullying of bloggers by Shop To Earn attorney Gerald Nehra
14 Jul 2008
Earlier today I reported that I had been threatened by Gerald Nehra, attorney for multi-level marketing company ShopToEarn for writing about my opinions on the company here. I am not the first blogger that he and Shop To Earn have threatened, and the threats continue. The blogger writing Everyday Finance has been threatened more than once [...]
Continue reading...- A new pyramid scheme: United First Financial
- Mary Kay Cosmetics: Destroying half a million women a year
- Ufirst Money Merge Account: Resistance is futile
- The Sarah Palin pregnancy cover-up that wasn't (updated)
- Vendor talks, Usana squawks
- United First Financial agent compensation plan
- What does Dave Ramsey think about United First Financial
- Why can't I pee on my neighbor's lawn?
- $3,500 wasted with United First Financial, per Dave Ramsey
- Searching for Shop to Earn scam
- Tracy Coenen: Well Paul, you apparently agree with me as well. This has been...
- Paul Haley: Has anyone here actually read anything I’ve written any...
- Tracy Coenen: So what Paul is saying is that there is some link between human...
- Lee D: Climate Change is Identity Politics at it’s highest level. And...
- Duped: Good gracious! Sounds like we have another Al Gore here....
- Paul Haley: Lee, There’s no straw man there. Man wasn’t...
- Lee D: Way to mix affirming the consequent with a straw man argument, Paul....
- Tracy Coenen: Yes, Paul, the climate changes. Yes there was less ice in the...
- Paul Haley: Lee, Are you suggesting that since temperatures have been warmer...
- Lee D: So, 120 million years ago, when global temperatures were substantially...
- SEC employees more worried about future careers than actual enforcement?
- “Climate change”: Just another fraud on consumers
- Latest numbers: MPS still sucks
- Property tax sticker shock
- More TARP secrecy
- Bernard Madoff Ponzi scheme investor losses: Recovery?
- Barry Minkow and Fraud Discovery Institute release proof of James Peterson’s (Microsemi Corp) lies
- James Peterson expands the lie; Microsemi board doesn’t care
- Planned Parenthood violating Indiana’s sexual abuse laws
- More public company executives with falsified credentials
About the Author
Tracy Coenen is a forensic accountant and fraud examiner who investigates white collar crimes, including cases of financial statement fraud, embezzlement, tax fraud, and insurance fraud. She is the author of Essentials of Corporate Fraud and more than 100 articles on fraud featured in industry publications.
18 Jul 2008
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