How Fraudsters Can Convert Stolen Goods Into Cash Through Bargain-Hunters

by Shelton on January 8th, 2016

filed under Business Loans

Maybe youre planning a large purchase or a big shopping trip with a certain retailer, and you seek out gift cards to that store from online gift card marketplaces. Swapping gift cards online is a unique opportunity for savings, but also provides a unique opportunity for fraudsters.

Hows that? The sellers arent misrepresenting the amounts on their cards or selling counterfeits. According to a report on Krebs on Security, theres a problem unique to national retail chains: shoplifters turn ill-gotten merchandise into cash by using gift card exchange sites.

The sites arent parties to this scheme, but the existence of sites where people can sell gift cards for prices under retail provides an opportunity for them to convert cards into cash easily before card buyers and marketplaces catch them.

One flag to look out for: the reader who initially submitted this story to Krebs purchased Petco gift cards that turned out to be merchandise return cards, not gift cards as they were advertised. If this happens to you, dont just shrug and go shopping anyway: notify the gift card marketplace.

The Role of Phony Returns in Gift Card Fraud [Krebs on Security]

Police seize 70 pounds of pot, cash from OR house

by Shelton on December 28th, 2015

filed under Business Loans

(WBIR) Oak Ridge police have seized 70 pounds of marijuana, two vehicles and more than $23,000 in cash after executing a search warrant at a house on Carlisle Lane.

Nicholas Salpas, 30, who lived at 102 Carlisle Lane, also faces charges that include manufacture, sale or possession of a controlled substance within a school zone.

Oak Ridge police, with members of the 7th Judicial District Drug Task Force served a warrant Wednesday at the house. They were assisted by the Drug Enforcement Administration and, according to police, the Missouri State Highway Patrol.

About $4,000 in cash was seized Wednesday. They found the pot stored in vaccum-sealed bags.

The following day in a supplemental investigation another $19,000 was seized, according to the police department.

The 7th Judicial District Attorney also has placed a lien against the Carlisle Lane property.

Peabody Energy – A Look At Cash Flow In 2016

by Shelton on December 28th, 2015

filed under Business Loans

My previous article on Peabody raised questions on why I saw a serious bankruptcy risk for the company in 2016.

In this article, I explain my views on Peabodys cash flow in 2016.

The company will not run out of cash next year.

However, this does not mean it wont file for bankruptcy protection at the end of 2016.

Arrested Illegal Alien From United Arab Emirates Paid $11k in Cash for 53 …

by Shelton on December 24th, 2015

filed under Business Loans

Federal law enforcement agents recently arrested a 25-year-old man from the United Arab Emirates who they found in a Florida hotel with firearm ammunition.

Hamid Mohamed Ahmed Ali Rehaif was arrested and charged with “possession of ammunition by an unlawful or illegal alien” but didn’t possess any firearms when he was taken into custody. Rehaif told agents he had bought three guns, but later sold them.

Cops Find "Wad" Of Cash, Drugs Inside Alaskan

by Shelton on December 23rd, 2015

filed under Business Loans

DECEMBER 11–An Alaska woman appears to have set the record for the amount of counterfeit currency and narcotics hidden inside body orifices, according to court records.

Fairbanks police were dispatched last month to an adult novelty store after a clerk called 911 to report that a couple sought to purchase merchandise with a counterfeit $100 bill.

Before cops could get to the Castle Megastore, suspect Chelsea Sperry, 31, left the business with a “large wad of cash” provided by her boyfriend (who waited for police to arrive). Shortly after Sperry drove away from the business, she was pulled over by police who had been given her description by the store employee.

When a check revealed that Sperry was driving with a suspended license, she was arrested and transported to the Fairbanks Correctional Center.

At the jail, a corrections officer observed Sperry “making furtive movements toward her vagina,” according to a criminal complaint. Sperry was then “put through a body scan,” which revealed that she “had items concealed in her vagina or anus.”

A female corrections officer subsequently “removed a wad of cash and drugs from inside” Sperry. The haul included six $100 bills, three $50 bills, and seven $20 bills, all of which were counterfeit. The $890 in funny money, however, was supplemented by a genuine $10 bill that “was discovered in Sperry’s anus.”

Sperry’s vagina, investigators noted, also held two baggies of methamphetamine, a baggie containing seven morphine sulfate pills, and two baggies containing a “brown tarry substance” that tested positive for heroin. The corrections officer also recovered a “clear plastic baggie” containing 40 smaller baggies that were similar in size to the ones containing the meth and heroin. The smaller baggies, the complaint notes, are “commonly used for the distribution of smaller amounts of heroin and methamphetamine.”

Pictured above, Sperry was indicted this month on felony narcotics and forgery charges, as well as two misdemeanor counts related to driving with a suspended license. Sperry, who is free on $5000 bond, has been arrested twice this year for theft, though charges were subsequently dropped in each case.

A police search of Sperry’s boyfriend, Jeffrey Martin, turned up several hundred dollars and a digital scale, though he does not appear to have been charged.

Sperry’s arrest–which was first reported by Dorothy Chomicz of the Fairbanks Daily News-Miner–was brought to TSG’s attention by a reader who demanded to know, “How big of a hoohaa does this woman have?” The correspondent then answered their own question, declaring, “Bigger than a backpack!” (3 pages)

Pusha T Breaks Down Darkest Before Dawn’s Beats, Rhymes And Cash Money Lines

by Shelton on December 20th, 2015

filed under Business Loans

These references come long after 2012s Exodus 23:1 was seen as a Cash Money dis. So, naturally, people are wondering where Push stands when it comes to the label. I don’t really stand nowhere on them, he said. It is what it is with me. I’m here. I’m happy. I’m good. I’m well. Unbothered. Unfazed. That ain’t no stress to me. I do what I do out here. I do what I want to do.

Right now, what he wants to do is drop Darkest Before Dawn, which is set for Dec. 18, but the album isnt just about the controversy. Its also meant to showcase other aspects of Pushas dark side, but hes doing it with some of hip-hops most coveted producers, including Diddy, Kanye West and Timbaland. Its a dream team the Clipse spitter assembled with a purpose. Heres a breakdown of the albums production.

The Beats

Everybody on this album is a hit maker, Push told MTV News on the set of his MPA. music video. They’re known for these big, grandiose hits. But, what people don’t understand is that, me personally, I prefer dark music. I prefer music that’s more street oriented. These guys have all made great records like that, that are probably more my favorites than the ones that are their Top 5 hits.

Those hit makers are also perfectionists. Push saw this firsthand while working with Diddy. He pushed me so crazy, GOOD Musics new president explained. He set the bar really high. Lyrically, he’s a very particular critic. It’s hard to impress. You just have to be on your A-game. He’d even make me write different. He’d tell me, ‘If I know what your next line is gonna be then that’s the wrong line.’ And then, I’d have to remix it. But it was all about impressing him.

Armed robber takes off with cash from Davie 7-Eleven

by Shelton on December 18th, 2015

filed under Business Loans

DAVIE, Fla. – Police are searching for an armed robber who got away with cash from a 7-Eleven store this week in Davie.

The robbery was reported just after 4 am at a 7-Eleven at 4490 Weston Road.

Surveillance video shows the man, who police believe is between 16 and 19 years old, enter the store wearing a Michael Jordan hat and a bandanna covering part of his face.

The man then points a handgun at the clerk inside and demands cash from the register.

Anyone with information about the robbers identity is asked to call Broward Crime Stoppers at 954-493-TIPS.

Copyright 2015 by WPLG Local10.com – All rights reserved.

Fake Cash Hits Valley Store

by Shelton on December 18th, 2015

filed under Business Loans

Terre Haute, IN

It was a normal Thursday at Platos Closet on the southside of Terre Haute.

Last night, the shop took all of the days earnings to Old National Bank right across US 41, standard procedure.

The bank then reviews all of the cash to make sure there are no counterfeit bills.

One of the bills happened to be a fake $100 bill.

The stores manager, Meagan Banhorn showed NBC 2 News a couple of things they look for to confirm a bills authenticity.

On the new bill, theres a face in the corner and numbers along the blue strip

The counterfeited currency was a $100 bill from 1985.

That bill is in the possession of Old National Bank.

Employees at the bank noticed the copied bill this morning and notified the Secret Service, who handles counterfeiting.

Banhorn explained spotting the fake cash was difficult given the age of the bill used.

You can use the little marker that you slide thats supposed to change color and stuff and it wont really work on that. Actually, the way you tell on those is most of them, when theyre copied, itll give it kind of like a reddish-pink tint to the old bill. So if you get an older bill like that, definitely look for like the tint of the bill. It should be green. It shouldnt have any sort of colored tint to it at all, Banhorn said.

THPD responded to the incident this morning. But given it deals with counterfeit cash, the investigation could make its way to the Secret Service. NBC 2 News reached out to the police department but has not heard back.

A bank employee said the person that used the cash may not have even been aware it was a fake.

Copyright 2015 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Cash in a canoe

by Shelton on December 18th, 2015

filed under Business Loans

IMAGINE if, to collect your salary each month, you had to walk to the nearest town, perhaps tens of miles away, to congregate in a school or a football pitch or a church. There, you and your colleagues wait for a man to arrive from the capital, perhaps a thousand miles away, with a suitcase of cash. Most of the time, you do not receive as much money as you should. Sometimes the man does not arrive at all.

Until recently, that is how most government employees in the Democratic Republic of Congo were paid. But over the past three years the government has been urging civil servants to open bank accounts, to which their pay can be transferred directly. In the process, it is accelerating the spread of banking in an economy that, according to Michel Losembe, the bow-tied president of the Congolese Banking Association, is “not very far off barter”.

How to manage business cash flow

by Shelton on December 16th, 2015

filed under Business Loans

Every business needs cash. Regardless of how much revenue your business earns, if your cash is tied up in unsold inventory or receivables, that money doesn’t do you any good. Maintaining a healthy business cash flow gives you the capacity to meet your financial obligations and the flexibility to grow with new opportunities. You’ll have enough cash on hand to pay the bills, say “yes” to a new project or launch a marketing campaign.

Cash flow is the money coming into and going out of your business, tracked on a cash-flow statement. If you have positive cash flow, you have more money coming into your business – typically through sales or borrowed funds – than going out, to expenses such as payroll, inventory and rent.

But maintaining positive business cash flow isn’t easy; many entrepreneurs struggle with it, according to research by the Federal Reserve Banks of New York, Atlanta, Cleveland and Philadelphia. In some situations, a cash-flow loan may be the solution to a cash crisis, but that’s not always the case.