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FTC taking action against Pre-Paid Legal Services Inc.
Much to my surprise, the Federal Trade Commission appears to be taking action against Pre-Paid Legal Services (NYSE:PPD) for making misleading representations in connection with its Identity Theft Shield and Affirmative Defense Response System products.
Continue reading...Overstock.com: The circus continues
17 Nov 2009
Sam Antar has often referred to Overstock.com and CEO Patrick Byrne as the gifts that keep on giving. And he sure is right! There is never a dull moment when it comes to wacky conspiracy theories and accounting woes that never end. Last week, Overstock (NASDAQ:OSTK) announced that it wouldn’t be filing its 10-Q for the [...]
Continue reading...Overstock.com admits they’re clueless about the accounting rules
13 Nov 2009
This week Overstock.com (NASDAQ:OSTK) notified the public that they wouldn’t file their third quarter 10-Q on time. The reason: The registrant has been unable to complete its financial statements for the quarter ended September 30, 2009, as it is continuing to analyze the proper accounting treatment for $785,000 the registrant received during the first quarter of [...]
Continue reading...UFF Agents don’t understand basic math and concepts related to debt
28 Oct 2009
We have discussed at length all of the reasons why the United First Financial Money Merge Account (UFF MMA) program is a waste of $3,500. In fact, we’ve even proven how even if the software was FREE, consumers are better off not using it. The evidence which supports these assertions is based in simple math. A [...]
Continue reading...Conservatism is no excuse for false financial statements, Overstock.com
27 Oct 2009
I’ve written extensively in the past about the train wreck that is Overstock.com (NASDAQ:OSTK) and its nutty CEO, Patrick Byrne. Just when I think there couldn’t possibly be more to write about the horrible company and Byrne’s crazy antics, I’m proven wrong. For those that have been following Overstock.com for the past few years, it came [...]
Continue reading...United First Financial: Don’t believe the hype
20 Oct 2009
More than a year after I started to write about the evils of United First Financial, its representatives are still trying to dazzle the crowds with bogus claims of factorial math. It’s become clear that the primary method for selling consumers on this ridiculously expensive software that the consumer doesn’t even own ($3,500) is by confusing [...]
Continue reading...Allegations that the arbitration process is rigged against consumers
15 Oct 2009
If you’re in the U.S. and you have a credit card, you may be very familiar with arbitration clauses. Most of the credit card companies, and plenty of other companies you do business with, have these clauses in their contracts. What they generally say is that you the consumer give up your right to ever [...]
Continue reading...From criminal to credible?
07 Oct 2009
Yes, it can happen. And that’s exactly what happened to Sam Antar, former CFO of Crazy Eddie… a massive fraud for which he’s now a convicted felon. He’s had his eye on Overstock.com (NASDAQ:OSTK) for a couple of years, and despite stalking and harassment paid for by Overstock’s wacky CEO Patrick Byrne, Sam keeps on [...]
Continue reading...Evidence of massive naked short selling. Or not.
05 Oct 2009
Today Matt Taibbi posted a “shocking” article and video purporting to show a day trader engaging in massive naked short selling of a stock. And the firm that clears his trades, Penson Financial Services, goes along with it all.
Continue reading...Buyer Beware: Fraud committed by Bagshop.com and Petticoat Lane scammers
01 Oct 2009
As a fraud investigator, I take honesty and fair dealings very seriously. When I make a mistake, I own up to it. When someone I’m doing business with makes a mistake, I expect them to also take responsibility and make things right. I have been defrauded by Bagshop.com and its related brick and mortar company [...]
Continue reading...- Carnival of Personal Finance #185: Cheesehead Edition
- Buying a job with Haverhill Home Staging? Questionable.
- Why I hate Intuit and Quickbooks
- A reader researches Shop To Earn
- Fraud Discovery Institute releases new report about Pre-Paid Legal Services, Inc.
- United First Financial: Don't believe the hype
- "Climate change": Just another fraud on consumers
- Who pays all the income taxes?
- Selling your soul to Usana Health Sciences for $27,000 a year
- Naked Short Selling: A complete waste of resources
- João Camacho: I just want to end my trial with Intuit WebServices and...
- Chris: I went to one of these “Business Opportunity Meetings” at...
- Tom Coyes: I am really glad I dumped Intuit, Sage, MS and all the rest a few...
- Tracy Coenen: LOL – A dream stealer and a failure. Like I’ve...
- you wouldn't know.: tracey………aus tralia is one of the...
- Tracy Coenen: On the contrary, Delena, quitting Mary Kay does NOT ruin...
- dusty: this message is for stufrogg, I love you buy term and invest the...
- dusty: Lets be honest, Primerica is a pyramid scheme. Channing, I am sorry...
- FTC taking action against Pre-Paid Legal Services Inc.
- Overstock.com: The circus continues
- Overstock.com admits they’re clueless about the accounting rules
- UFF Agents don’t understand basic math and concepts related to debt
- Conservatism is no excuse for false financial statements, Overstock.com
- United First Financial: Don’t believe the hype
- Allegations that the arbitration process is rigged against consumers
- From criminal to credible?
- Evidence of massive naked short selling. Or not.
- Buyer Beware: Fraud committed by Bagshop.com and Petticoat Lane scammers
About the Author
Tracy Coenen is a forensic accountant and fraud examiner in Chicago and Milwaukee who investigates white collar crimes, including cases of financial statement fraud, embezzlement, tax fraud, and insurance fraud. She is the author of Expert Fraud Investigation and Essentials of Corporate Fraud and more than 100 articles on fraud featured in industry publications.
19 Nov 2009
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