Finance

Insurance Scam Aimed At Low Income Drivers Aided By Police

One evening last month, as custodian Tracy Martin took in a Detroit Pistons game at the Palace of Auburn Hills, her cell phone rang. “They’re towing your car,” her husband, who is paralyzed, told her. Later, when Martin arrived home, she found a flyer left behind by the Highland Park Police, which along with the police departments of neighboring Ecorse and Hamtramck, belonged to the COBRA Multijurisdictional Auto Task Force.

Hackers Hit The IRS, Steal 100,000 Taxpayers Information

The Internal Revenue Service said today that their online service got hacked and the hackers obtained tax information for over 100,000 individuals.

The IRS publicly acknowledged that the hackers targeted their “Get Transcript” system, which requires people to provide their Social Security Numbers and answer a series of personal questions to get their transcript.

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NYSE Adds Bitcoin To Tracker

The New York Stock Exchange is diving deeper into the world of Bitcoin with the introduction of a bitcoin pricing index.

The index, which will be made available through NYSE's Global Index Feed and free on its website for a limited time, is intended to serve as a definitive benchmark for valuing the currency — in the same way that the LIBOR index is used to measure global interest rates.

4 big banks fined $2.5 billion and will plead guilty to rigging global currency markets

WASHINGTON (AP) -- Four big banks will pay $2.5 billion in fines and plead guilty to criminally manipulating global currency market going back to 2007.

JPMorgan Chase, Citigroup, Barclays and The Royal Bank of Scotland conspired with one another to fix rates on U.S. dollars and euros traded in the huge global market for currencies, according to a settlement announced Wednesday between the banks and U.S. Justice Department. Currency traders allegedly shared customer orders through chat rooms and used that information to profit ahead of their clients.

FTC Sues Cancer Charities Over $187 Million Donation Scam - Largest Charity Fraud In History

WASHINGTON (CNN) -- In a rare joint action with attorneys general for each of the 50 states, the Federal Trade Commission says four cancer charities run by extended members of the same family conned donors out of $187 million from 2008 through 2012 and spent almost nothing to help actual cancer patients.

Apple Inc. Buys Chinedu Echeruo’s Hopstop.com For $1 Billion

Apple has acquired Chinedu Echeruo’s HopStop.com, The Wall Street Journal’s publication, AllThingsDigital reports. Founded in 2005, HopStop.com makes mobile applications for both iOS and Android that covers over 300 cities and that helps people get directions or find nearby subway stations and bus stops. Terms of the deal have not been disclosed as at the time of this publication.

Chinedu Echeruo, formerly an analyst at investment banks and hedge funds founded HopStop in 2005. Echeruo is now Chairman of the Board for HopStop.

Verizon Buys AOL for $4.4 Billion

Verizon agreed to buy AOL Inc. in a $4.4 billion deal aimed at advancing the telecom giant’s growth ambitions in mobile video and advertising.

The all-cash deal values AOL at $50 a share, a 23% premium over the company’s three-month volume-weighted average price. AOL shares rose 18% in morning trading to $50.18. Verizon shares fell 1.7% to $48.98.

The acquisition would give Verizon, which has set its sights on entering the crowded online video marketplace, access to advanced technology AOL has developed for selling ads and delivering high-quality Web video.

Harriet Tubman Wins Vote To Replace Andrew Jackson On $20 Bill

Andrew Jackson may be getting booted from the 20. 

Women on 20s, a group that has been campaigning to replace Jackson with a woman has chosen Harriet Tubman, the 19th century abolitionist who escaped slavery and led other slaves to freedom via the ‘Underground Railroad.’

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