UFF Agents don’t understand basic math and concepts related to debt

Posted by Tracy Coenen on October 28, 2009 · 4 Comments 

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 [...]

Conservatism is no excuse for false financial statements, Overstock.com

Posted by Tracy Coenen on October 27, 2009 · 3 Comments 

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 [...]

Milwaukee County: We’re broke, but let’s spend more!

Posted by Tracy Coenen on October 25, 2009 · 3 Comments 

For years, Milwaukee County has been a bloated government entity. Spending has been out of control as the politicians continued to expand what the government controlled, and they didn’t seem to care since it was “only” taxpayer money.
When Scott Walker became the County Executive, he made a promise to not add more to the taxpayer [...]

United First Financial: Don’t believe the hype

Posted by Tracy Coenen on October 20, 2009 · 22 Comments 

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 [...]

Allegations that the arbitration process is rigged against consumers

Posted by Tracy Coenen on October 15, 2009 · Leave a Comment 

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 [...]

Does this describe your MLM?

Posted by Tracy Coenen on October 14, 2009 · 6 Comments 

Kevin Thompson hires himself out to multi-level marketing companies to give them legal counsel. Supposedly he knows his way around the legality of MLMs, just like my buddy Gerry Nehra supposedly does.
So I was perusing Kevin’s website and came across this interesting diatribe about what separates “legitimate” MLMs from illegal pyramid schemes. I’ve written a [...]

From criminal to credible?

Posted by Tracy Coenen on October 7, 2009 · Leave a Comment 

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 [...]

Evidence of massive naked short selling. Or not.

Posted by Tracy Coenen on October 5, 2009 · 2 Comments 

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.

Buyer Beware: Fraud committed by Bagshop.com and Petticoat Lane scammers

Posted by Tracy Coenen on October 1, 2009 · 13 Comments 

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 [...]