The Department of Justice announced that the 10th and final payment from a fund set up for the victims of late Ponzi scheme king Bernie Madoff was made on Monday. More than 23,000 victims will receive the last disbursement of $131 million. The DOJ stated that when the fund is finished, it will have distributed more than $4.3 million to over 40,000 victims across nearly 130 … [Read more...] about Final Madoff Fund Payout Recovers Nearly 94% of Ponzi Scheme Losses, DOJ Reports
Finance
Is a Retirement Savings Crisis on the Horizon?
The AARP Public Policy Institute has warned that future taxpayers could be burdened by the fact that tens of millions of private sector workers do not have access to a retirement plan offered by their employers. According to David John of AARP, Senior Strategic Policy Advisor, the institute estimates that 57,000,000 private sector workers in America - or about half the … [Read more...] about Is a Retirement Savings Crisis on the Horizon?
Gold Struggles Amid High US Bond Yields in Holiday Trading
Gold prices fell on Friday, as higher U.S. Treasury rates dimmed the appeal of non-yielding gold in a week that was dominated by holidays. Markets were focused on Donald Trump's re-election and the possible impact his inflationary policies could have on the Fed 2025 outlook. As of 1:41 pm, spot gold dropped 0.6%, to $2,619.33 an ounce. ET (1841 GMT). Bullion is down 0.1% for … [Read more...] about Gold Struggles Amid High US Bond Yields in Holiday Trading
Treasury Extends Deadline for Small Businesses to Avoid Fines
The U.S. Treasury Department pushed back the deadline to Jan. 13, 2025, for millions of small businesses to submit a new form known as Beneficial Ownership Information Report. Treasury initially demanded that many businesses file the report with the Financial Crimes Enforcement Network (FinCEN), an agency of the Treasury, by January 1. The Treasury could impose fines of up … [Read more...] about Treasury Extends Deadline for Small Businesses to Avoid Fines
Banking App Dave Soars 934%, Leading Financial Gains
Jason Wilk the CEO of Dave, a digital banking service recalls the lowest point of his short career as the head of a publicly traded firm. In June 2023, the shares of his firm had fallen below $5 each. Wilk, desperate to keep Dave afloat at the Los Angeles micro-cap stock conference, pitched $5,000 stakes of his company to investors. Wilk said, "I won't lie. This was … [Read more...] about Banking App Dave Soars 934%, Leading Financial Gains
