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VinFast Shares Lose $83 Billion as World-Beating Surge Reverses
VinFast Shares Lose $83 Billion as World-Beating Surge Reverses
The head-scratching rally in VinFast Auto Ltd. shares came to a sudden halt on Tuesday, erasing $83 billion
2023-08-30 07:17
Fed's Powell, in testimony, says inflation fight has
Fed's Powell, in testimony, says inflation fight has "long way to go"
By Howard Schneider WASHINGTON The Federal Reserve's fight to lower inflation back to its 2% target "has a
2023-06-21 20:58
Biden administration announces nearly $11 billion for renewable energy in rural communities
Biden administration announces nearly $11 billion for renewable energy in rural communities
The U.S. Department of Agriculture announced a nearly $11 billion investment on Tuesday to help bring affordable clean energy to rural communities throughout the country
2023-05-16 17:29
Russia Temporarily Limits Diesel and Gasoline Exports
Russia Temporarily Limits Diesel and Gasoline Exports
Russia’s government has temporarily limited exports of diesel and gasoline in a bid to stabilize the domestic fuel
2023-09-21 19:52
Panera Launches Drive-Thru Pick-Up Nationwide
Panera Launches Drive-Thru Pick-Up Nationwide
ST. LOUIS--(BUSINESS WIRE)--May 31, 2023--
2023-05-31 19:24
Australia Gives Nod to Brookfield’s $12 Billion Takeover of Origin Energy
Australia Gives Nod to Brookfield’s $12 Billion Takeover of Origin Energy
Australia’s competition watchdog has conditionally approved private equity firm Brookfield’s A$18.7 billion ($12 billion) takeover of the nation’s
2023-10-10 09:00
Manila Electric to Invest $280 Million in Solar Power Company
Manila Electric to Invest $280 Million in Solar Power Company
Philippine power retailer Manila Electric Co. said its unit, MGen Renewable Energy, will invest 15.9 billion pesos ($280
2023-10-12 15:22
Tesla and China Risk Leaving Volkswagen on a Road to Nowhere
Tesla and China Risk Leaving Volkswagen on a Road to Nowhere
Shortly after taking the most important job in German industry, Volkswagen AG Chief Executive Officer Oliver Blume got
2023-09-11 08:28
IMF approves Ghana $3 billion loan facility - sources
IMF approves Ghana $3 billion loan facility - sources
By Maxwell Akalaare Adombila and Christian Akorlie ACCRA (Reuters) -The International Monetary Fund's executive board has approved a $3 billion,
2023-05-18 01:20
Oil prices mixed ahead of China lending benchmarks decision
Oil prices mixed ahead of China lending benchmarks decision
By Katya Golubkova TOKYO Oil prices were mixed on Tuesday ahead of a decision on lending benchmarks by
2023-06-20 09:15
Analysis-Vodafone's new CEO faces tough calls to reconnect with investors
Analysis-Vodafone's new CEO faces tough calls to reconnect with investors
By Kate Holton and Paul Sandle LONDON When Vodafone named Margherita Della Valle as CEO last month, investors
2023-05-21 13:17
California man admits to hiding mother’s death and collecting $830k in benefits
California man admits to hiding mother’s death and collecting $830k in benefits
A California man pleaded guilty last week to hiding his mother’s death from the federal authorities for over 30 years, collecting more than $800,000 in benefits under her name. Donald Felix Zampach, 65, pleaded guilty to one count of money laundering and one count of Social Security fraud, according to the Justice Department. “This crime is believed to be the longest-running and largest fraud of its kind in this district,” US Attorney Randy Grossman said in a statement. “This defendant didn’t just passively collect checks mailed to his deceased mother. This was an elaborate fraud spanning more than three decades that required aggressive action and deceit to maintain the ruse.” All told, beginning in 1990, the Poway man collected $830,238. He could face up to 25 years in prison, though US sentencing guidelines suggest it will more likely be a sentence of 30 to 37 months. “He is overwhelmed with regret,” Knut Johnson, Zampach’s lawyer, told The New York Times. As part of his plea deal, Zampach will forfeit the benefit, pay restitution to various lenders, and turn over the home he took possession of in his mother’s name. The benefits scheme was an elaborate one, according to the DoJ. When Zampach’s mother was diagnosed with pancreatic cancer, she left the US and returned to her native Japan, where she died in 1990 at age 61. Her son notified the US embassy in Tokyo of the death, but admitted to leaving blank a box for her Social Security number to avoid the government being aware of her passing, and he repeated this omission on forms for burial permits. Zampach kept up this ruse until September 2022, collecting his mother’s Social Security checks and payments from the Defense Finance Accounting Service, which pays survivors of military veterans. An audit of those over age 90 who hadn’t used their Medicare benefits helped reveal the California man’s scheme. This sort of fraud has happened in the past. In 2018, a Mexican man pleaded guilty to defrauding the government for even longer, spending 37 years collecting nearly $361,000 in government benefits after assuming the identity of a US citizen, according to The San Diego Union Tribune. In 2015, Dutch police learned that a man kept his dead mother’s body hidden for over two years and continued collecting her pension and social assistance payments. He was later caught and forced to repay 40,000 euros, according to 1 Limburg. Read More Real Housewives star Phaedra Parks reveals why she gave her son $150,000 for his 13th birthday Mastercard helping banks predict scams before money leaves customers’ accounts Vermont will pay $16.5M to settle lawsuits by foreign investors in fraudulent ski developments
2023-07-07 03:27