• Inside ShopToEarn’s “customer service department”

    A reader of Fraud Files recently contacted me to offer some information on the inner workings of ShopToEarn. Readers of this blog have had plenty of questions about the company and its founder, Patrick Welsh. One reader did a bunch […]

  • How We’ll Get Screwed Under the Proposed Health Plan for America

    Forget about the massive cost. Forget about the millions that will still be “uninsured.” Forget about the fact that healthcare will be rationed. Forget that those over 65 will be considered more expendable and therefore be denied some care. All […]

  • Mary Kay Cosmetics is Suing Another Product Liquidator

    Times must be tough over at Mary Kay. Instead of focusing on “enriching women’s lives” as the company is so fond of saying, they’re instead busy running around suing all kinds of people. A couple of weeks ago, Mary Kay […]

  • Reports of Financial Crimes Growing

    I’m not a believer that a bad economy means more fraud is occurring. Those who say this is happening simply have no basis for that opinion. Because so much financial fraud goes undetected, it is impossible to determine if it’s […]

  • Australian Scam Sounds Exactly Like U1st Financial!

    One of the credibilty builders (i.e. smokescreens) that United First Financial agents use when trying to sell their Money Merge Account is… “It’s based on the Australian banking system!” The claim is that this “system” has been used successfully in […]

  • Who Pays All the Income Taxes?

    Obamanomics has made it popular to call on the “rich” to pay “their fair share” of taxes. Lets increase taxes to pay for ineffective, unnecessary, wasteful government spending, but lets make sure the “rich” are the ones who pay those […]

  • Usana Health Sciences Misrepresenting Distributor Earnings

    written by: terminatedramp USANA publishes a distributor average earnings chart to be used to recruit new distributors into their business opportunity. See the following USANA website that provides their earnings chart: http://www.usana.com/dotCom/opportunity/payplan/index. Quoted from their website is the following:

  • PCAOB Reports on BDO Seidman and Grant Thornton

    Auditing firms are in a world of trouble. Their audit procedures haven’t really kept up with the changing business environment, and the expectations of the users of financial statements are practically impossible for auditors to fulfill. Regardless of the many […]

  • Privacy Over Regulation

    Today I was in a class on overseas banking and reporting requirements for individuals and businesses. I wanted to learn about the latest regulations and their enforcement. We discussed the Offshore Voluntary Disclosure Program, through which taxpayers can “tell on […]

  • The UFF Money Merge Account Fraud

    Today a seller of the United First Financial Money Merge Account product threw out a challenge: Show him how a simple spreadsheet can pay off a mortgage faster than MMA. He said that his client owed $200,000 on a mortgage, […]