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With a U.S. Securities and Exchange Commission (SEC) probe underway, a whistleblower is alleging that fraud is taking place at Secaucus-based real estate fund National Reality Investment Advisors (NRIA), which boasts over $1 billion in assets under management. Inset photo of Barry Minkow. Background photo via nria.net. By John Heinis/Hudson County View "The record shows, FOIA request prove, that in August 2020 I filed a report with the SEC on a whistleblower statute and filed a report. I was communicating with the chair of the SEC before that," Barry Minkow, 55, exclusively told HCV in a phone interview. His August 7th complaint filed with the SEC said the NRIA's conduct is a fraudulent investment, in particular a Ponzi/pyramid scheme. "NRIA is offering returns that appear to be unparalleled in the industry. Their cost of capital is, for lack of a better term, astronomical. They advertise on a national scale every day for new investors (see point 2) AND the...

InteleTravel has refuted fresh accusations that it is operating as a pyramid scheme after a reality TV personality who signed up to the home working group announced plans to recruit agents. News of former Towie star Mario Falcone joining the homeworking company led to a flurry of responses from travel trade professionals questioning the firm's recruitment model. But an InteleTravel spokeswoman strongly refuted claims it was a multi-level marketing business, or pyramid scheme, which involves paying members to recruit others into the scheme rather than selling products. She said: "Recruitment is via an external business, and only after credit and credential checks, is an agent accepted as an InteleTravel agent. As much as there will be those trying their hardest to link the two, there will never be evidence because none exists. InteleTravel remains a homeworking travel agency business that provides options for those looking for entry ...

Programming note: Money Stuff will be off tomorrow, back on Monday. It is silly season at the U.S. Securities and Exchange Commission, the few weeks leading up to the agency's Sept. 30 fiscal year end when it brings a slew of miscellaneous enforcement cases every day. Here's one from yesterday against an alleged $110 million Ponzi scheme run by a guy named John Woods, who allegedly ran both an investment advisory firm called Southport Capital and also an investment-fund-slash-alleged-Ponzi called Horizon Private Equity III LLC. The overall vibe seems to have been "generic Ponzi scheme"; from the SEC complaint: Adblock test (Why?)

These 7 Side Hustle Apps Will Make You Extra Cash | GOBankingRates Money / Side Gigs ©Shutterstock.com If you're looking to earn some extra cash without having to compromise your schedule, there are se...

Investment company Franklin Street Advisors Inc (Current Portfolio) buys ViacomCBS Inc, Dollar General Corp, Exxon Mobil Corp, Coca-Cola Co, UB Bancorp, sells Starbucks Corp, Verisk Analytics Inc, Lululemon Athletica Inc, Visa Inc, General Mills Inc during the 3-months ended 2021Q2, according to the most recent filings of the investment company, Franklin Street Advisors Inc . As of 2021Q2, Franklin Street Advisors Inc owns 156 stocks with a total value of $1.2 billion. These are the details of the buys and sells. New Purchases: VIAC, UBNC, BCRX, FMS, PPG, IAU, Added Positions: DG, XOM, KO, MCD, DIS, AMZN, T, AAP, MAR, FB, SYY, AXP, CMI, ECL, CSCO, TXN, SGMO, PM, UPS, ATVI, FGEN, NKE, BP, HON, CRIS, GOOGL, DD, DKNG, TFC, COF, WFC, CVX, RTX, LOW, SO, SMG, QCOM, PHG, MRK, IBM, Reduced Positions: SBUX, VRSK, LULU, V, GIS, CRM, JPM, BLK, D, VZ, IDXX, DHR, EL, NXPI, ABBV, NVDA, MDT, PYPL, PFE, ACN, BRK.B, WM, GOOG, MMM, SPY, MLM, ZTS, GSBD, LH, ROK, JNJ, TMO, NEE, VFC, AFL, BMY, DUK, ORCL, ...

Alex Potemkin | E+ | Getty Images Being ultra-tech-savvy apparently isn't enough to protect you from online scams, a new report suggests. The number of individuals age 20 or younger — members of Generation Z who have grown up on smartphones and the internet — reporting they are victims of cyber-fraud has surged 156% over the last three years, according to a study from Social Catfish, an online identity-verification service. That compares to 112% growth during the same time among people age 60 or older, the group with the next-fastest scam growth. "It is alarming," said David McClellan, president of Social Catfish. "The generation we think of as being the most savvy with the internet ... is where the numbers are growing the fastest when it comes to scams." For the under-21 crowd, complaints to the FBI's Internet Crime Complaint Center reached about 23,200 last year (up from 9,000 in 2017), resulting in roughly $71 million lost (compared with $8.3 million in 2...

IDAHO FALLS — A company headquartered in Idaho Falls is facing heated criticism after dozens of direct sellers went public with complaints about not being paid for their work. At least 30 ambassadors for Juvenaé, all women, reached out to EastIdahoNews.com last week. Most said they are owed anywhere from hundreds to thousands of dollars. Juvenaé started as a multi-level marketing business in June 2020 promoting health, beauty and lifestyle products. Each of the women who contacted us live in various parts of the country. They had become an ambassador and built tiered teams to promote and sell the products. Many of the ambassadors spoke on the condition of anonymity, as they fear it might impact their chances of getting paid. Juvenaé eyelash products Change in business model The ambassadors say last month, Juvenaé announced it was moving away from its multi-level marketing business model and changing to an affiliate program. That means ambassadors would no longer recruit others ...