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By Mark Heisler
$23.96
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By Marc Cooper
$22
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Image via Shutterstock
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By Juan Cole — One of the social control mechanisms deployed in a plutocracy to keep people quiet while their pockets are being picked is the lottery. It is a scam.
Posted on May 19, 2013
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Flickr / Don Hankins
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From Nigerian “millionaire” plans to “FBI agent” schemes, millions of dollars have been lost to scams on the Internet. Last year saw reported losses from Internet fraud more than double, rising from $264.6 million in 2008 to $559.7 million in 2009.
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flickr.com / babaghan
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Encompassing an estimated 78 percent of e-mail, spam remains the bane of many Internet users. The man who has declared himself spam’s godfather, Alan Ralsky, has been sentenced to 51 months in prison for his role in an e-mail stock scam.
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stltoday.com
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Thank the regulatory heavens. The Federal Reserve is moving to prohibit banks from charging overdraft fees on ATM and debit card transactions unless the customer has opted into a program agreeing to pay the extra charges. Banks raked in $37 billion in fees last year, largely through unexplained programs and extraordinarily high levies.
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Boy, they sure can pick ’em. When Republicans asked Rep. Charles Boustany to give the response to President Obama’s major speech tonight, they either didn’t know or didn’t care that the congressman once questioned the president’s nationality and is so patriotic he may have attempted to purchase a British title.
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U.S. Department of Justice
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David Friehling, the accountant of Bernard Madoff (pictured above), was arrested Wednesday on charges of securities fraud. Friehling is the first alleged accomplice to be named by authorities in connection with Madoff’s $65 billion Ponzi scam, though the accountant was charged with auditing failures, not direct participation in the scheme itself.
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AP Photo/ Louis Lanzano
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The country’s most notorious scam artist, Bernard Madoff, pleaded guilty on Thursday to fleecing thousands of investors out of as much as $65 billion at the New York District Courthouse, where several of his defrauded clients turned up to hear him speak.
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amnesta.net
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This information should shock no one by this point, but it seems that there are more tales of alleged fraud emerging from the general direction of Wall Street. Move over, Bernie Madoff.
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Flickr / Joe Shlabotnik
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On Monday, the paper of record published an e-mail from the mayor of Paris slamming Caroline Kennedy’s political maneuvering as “appalling.” Unfortunately, the Times failed to check whether the message was authentic—it wasn’t. Guess that explains all those articles by Nigerian princes.
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epws-shanghai.org
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Although the full extent of the damage from broker Bernard Madoff’s alleged super-swindle has yet to be determined, it’s clear by now that the collapse of his vast pyramid scheme may spell utter disaster for several of his top investors—some of whom might not know yet that they’re broke.
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The popular online encyclopedia Wikipedia, which draws its content from countless anonymous contributions, will institute safeguards following revelations about the identity of one of its most industrious contributors. Ryan Jordan, under the name “Essjay,” wrote thousands of articles for the site while claiming to be a theology professor but was exposed by The New Yorker as a 24-year-old college dropout.
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AP / Sunday Alamba
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By Gbemisola Olujobi — A native Nigerian writer takes stock of the changing face of her country’s most prominent economic export after oil: e-mail scams.
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Scams, schemes and bureaucratic snafus related to federal aid for Hurricane Katrina cost taxpayers at least $2 billion.
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Greenland’s Great Melt Is Pinned On Climate Change
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