| Probe recovers $780,000 from investment fraud
Missouri Secretary of State Robin Carnahan was in Springfield Thursday to announce the completion of an investigation resulting in the recovery of more than $780,000 in restitution from a firm whose former employee defrauded Missouri investors.
Carnahan�s Commissioner of Securities, Matt Kitzi, entered into a consent order on Nov. 9 with Investment Centers of America ICA, the former employer of a Joplin-area investment adviser, Mark L. Henry, who defrauded investors out of more than $800,000. The order will recover over $1 million in restitution, fines and penalties.
Henry was a Missouri-registered agent and investment adviser for ICA from October 1994 until September 2005. After his termination, Henry used a personal bank account to fraudulently continue conducting business as a representative of Investment Centers of America.
Accused adviser's former employer pays restitution
The former employer of a Joplin investment adviser accused of fraudulent practices will pay more than $1 million in restitution in fines, penalties and fees, Missouri Secretary of State Robin Carnahan announced Thursday. Two Carthage couples and a Joplin woman, all former clients of adviser Mark L. Henry, joined Carnahan in Springfield to make the announcement. State authorities say Henry mishandled approximately $800,000 in clients� funds. In November 2006, the Securities Division of Carnahan�s office issued an order accusing Henry of opening an unauthorized personal bank account and using it to conduct business as Investment Centers of America Inc., the firm that Henry sold securities through from October 1994 to September 2005. He allegedly used the account to collect clients� funds during and after his employment with ICA.
Tanzania: Community Workers Debate New Funding Arrangement
So what will happen once donor communities start channeling funds to governments instead of sending such aid directly to Non-government organizations and other civil society institutions that work at community level? The about 40 community workers, who met in Arusha this week, foresee a bleak future in community development issues in Africa, taking into consideration the unnecessary bureaucracy that state organs in the continent 'enjoy' practicing. .
Spying Warren Buffett: Berkshire Makes Big Moves in Banking Sector, Railroads
Revered for his investing prowess, Buffett's investments are always closely watched, but his overarching investing philosophy has remained constant. Typically, he loves to put money into undervalued companies with easily understood business models and great brand recognition. Looking at Buffett's holdings at the end of Q3, he held steady with positions in some of his long-held favorites while also increasing stakes in financials and healthcare. Among those favorites Buffett just held onto were Coca-Cola (NYSE: KO - News), in which Buffett maintained a 200-million share stake, and American Express (NYSE: AXP - News), where Buffett essentially left his 151.6-million share stake unchanged. Eclipsing Amex as Buffet's no. 2 holding was money center bank Wells Fargo (NYSE: WFC - News), where Buffett now holds 279.7 million shares.
Canada charges surprise cardholders
Gas stations, motels, beauty shops, sushi bars, fishing pro shops and movie theaters. All places where debit-card charges were racked up - in Canada, using accounts of Raton cardholders.
The surprising charges started showing on the local residents' accounts in September and October, leading in most or all cases to canceling the cards and local banks reimbursing customers for the fraudulent charges.
Pat Walsh's account was used for a spending spree of about $850 in cities in the Canadian province of Ontario. Thirteen different transactions were made.
"I'm going to be more careful how I use it," Walsh said of her new debit card. She said she does not know how her account number got into someone else's hands.
Michael Apodaca had about $900 in charges put on his account in Toronto or that area.
|
