Архив рубрики: Internet Loan Scam Leads

Finance the cash component

The big question surrounding the communications industry is whether partnerships and mergers are good not just for businesses, but also for the customers. Opponents of mergers say they lead to fewer jobs, less competition and higher prices. But analysts on Monday said that a potential Dish-Sprint merger may pose a greater challenge to AT&T and Verizon, which dominate the wireless industry and charge higher prices for their phone plans.

As the No. 3 cellphone service provider, with 56 million subscribers nationwide, Sprint Nextel has struggled to catch up with larger rivals. It is expected to face even more competition as the parent company of T-Mobile USA, Deutsche Telekom, moves closer to a multibillion-dollar agreement to buy MetroPCS.

Dish Network said it would finance the cash component of the takeover through a combination of $17.3 billion in cash and debt financing.

Sprint said in a statement that it would look at Dish’s proposal, but declined to comment further on its plans. “Sprint Nextel today confirmed it has received an unsolicited proposal from Dish Network to acquire the company,” said Roni Singleton, a Sprint spokeswoman. “The company said that its board of directors will evaluate this proposal carefully and consistent with its fiduciary and legal duties. The company does not plan to comment further until the appropriate time.”

Mr. Ergen said his company would be as a better fit for Sprint than SoftBank because it would bring greater benefits to consumers. Fourteen million Dish Network subscribers would get improved services on their cellphones, and shareholders would own 32 percent of the combined company, whereas Softbank’s merger is essentially a cash infusion to strengthen Sprint.

Internet Loan Scam Leads

Internet Loan Scam Leads to Charges Against 33.

The defendants, who operated the scam since 2005, used online ads to lure victims to apply for unsecured personal loans, according to a 62-count indictment made public today by U.S. Attorney William Hochul Jr. in Buffalo, New York. The victims were told to wire money as a “security deposit,” then never got any loans or refunds, according to the charges.
The fraud netted $2.7 million, according to Ross Feinstein, a spokesman for U.S. Immigration and Customs Enforcement.
The indictment charges 32 people, including nine arrested today, according to the U.S. Attorney’s office. Another defendant was arrested July 1. One of the 10 was charged in a criminal complaint. All of the defendants are charged with conspiracy to commit wire fraud and conspiracy to launder money.
U.S. authorities said they will seek the arrest of other defendants, who are in Canada, through the use of law enforcement treaties between the two countries. The names of the defendants who remain at large were redacted from the public copy of the indictment.
The Obama administration and the Federal Trade Commission have focused on exposing scams that seek to take advantage of people trying to recover from the U.S. economic crisis. On July 3, the FTC said it halted two operations that fooled consumers into believing they would get help with their debts.
In the charges disclosed today, prosecutors claimed the defendants ran the fraud from cities in the U.S. and Ontario.
The case is U.S. v. Jaichon, 12-CR-183, U.S. District Court, Western District of New York (Buffalo).