Lennar Corp conspiracy headed up by CEO Stuart Miller

Posted by Tracy Coenen on May 29, 2009 · Leave a Comment 

This week the Fraud Discovery Institute and Barry Minkow released a new (and yes, shocking!) report about a conspiracy involving Lennar Corp. (NYSE:LEN), and spearheded by CEO Stuart Miller and two of the company’s top executives.
Check this out…
Lennar has been involved in litigation with Nicolas Marsch, the guy who spend ten years helping Lennar make [...]

United First Financial made simple

Posted by Tracy Coenen on May 25, 2009 · 12 Comments 

What a simple, yet eloquent explanation from one of our readers on the read deal behind UFF’s Money Merge Account (MMA).
UFF is a SCAM.
Borrowing at 8% to cover 6% loan will make you less money.
Paying down your mortgage directly (instead of using HELOC) will put you ahead.

5 Points of Similarity Between Medifast and YTB (YourTravelBiz.com)

Posted by Tracy Coenen on May 21, 2009 · 2 Comments 

1. Both Medifast (NYSE:MED) and YTB International have 10 levels of commission payouts. That means on any given sale of actual products or services, the person selling it will receive a small commission, while 9 other levels will receive a total commission exceeding the seller’s commission.

Fraud Discovery Institute blasts Medifast

Posted by Tracy Coenen on May 21, 2009 · 5 Comments 

In a surprise move, the company known for its outspoken criticism of the direct selling industry, the Fraud Discovery Institute, Inc today released a report portraying direct seller Avon Corporation in a positive light (www.frauddiscovery.net).
To prove that Medifast, Inc (NYSE:MED) is a “scheme pyramid” business opportunity as evidenced by its record breaking first quarter earnings [...]

Note to SEC: Does InterOil (NYSE:IOC) violate Regulation FD?

Posted by Tracy Coenen on May 15, 2009 · 4 Comments 

The SEC’s Regulation FD is one of those pesky little rules public companies are supposed to abide by. The basic idea behind this rule, called “FD” for “Fair Disclosure,” is to make sure that some parties don’t have an unfair advantage in buying and selling stock.
Although the rule itself has lots of details, it essentially [...]

Update on Quickbooks Sucks

Posted by Tracy Coenen on May 14, 2009 · 13 Comments 

A few weeks ago, I posted my opinion on Intuit and QuickBooks on this blog. Essentially the company created a program to get people to sign up for a monthly technical support plan costing $39, and then when that plan was canceled, still billed for the service.
I signed up for this plan knowing I’d never [...]

USANA’s sneaky disclosure

Posted by Tracy Coenen on May 12, 2009 · 3 Comments 

In the Usanan Health Sciences (NASDAQ:USNA) most recent 10-Q filed with the SEC, the company makes reference to restated financial statements:

Milwaukee Public Schools teachers admit they suck?

Posted by Tracy Coenen on May 10, 2009 · Leave a Comment 

The idea being proposed is simple: Pay Milwaukee Public Schools teachers more to teach a longer school day so children can learn more.
The response from the teachers union: “We’ve taken a consistent view that doing the same thing longer is going to produce the same results.”
Translation: We’re not teaching children now, and having a longer [...]

More financial statement fraud at Overstock.com

Posted by Tracy Coenen on May 5, 2009 · 5 Comments 

White collar crime fighter and reformed felon Sam Antar has done it again. He has exposed the most recent financial statement fraud being perpetrated by Overstock.com (NASDAQ:OSTK) and wacky CEO Patrick Byrne.
Of course, this doesn’t come as any surprise to anyone who has been following the company. Overstock cannot turn a profit, and when management [...]