Federal authorities indict 11 in online poker fraud scheme
U.S. prosecutors in Manhattan charge 11 individuals with bank fraud and illegal gambling tied to PokerStars Full Tilt Poker and Absolute Poker. Authorities shutter over 75 bank accounts in 14 countries and seek 3 billion dollars in penalties and forfeiture amid enforcement of the Unlawful Internet Gambling Enforcement Act.
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New York
Manhattan
U.S
Preet Bharara
PokerStars
Full Tilt Poker
Absolute Poker
PokerStars.com
FBI
Gas and food cost spur slower economy warning
Americans face higher prices for gas and food, slowing growth despite solid hiring in March and February. Core inflation stays flat when food and energy are removed, while Unemployment hits 8.8 percent and gas averages near 3.82 a gallon.
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Washington
Labor Department
Joel Naroff
Naroff Economic Advisors
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Federal Reserve
Japan
Nigel Gault
IHS Global Insight
G20 agrees on measuring global financial imbalances
Washington reports that G 20 finance officials reached a framework to monitor national imbalances in foreign trade and government debt. The plan aims to prod countries to limit dangerous gaps to prevent future crises and restore global growth. Christine Lagarde highlighted the seven large economies initially covered.
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IRS finds over half-billion in questionable first time homebuyer credits
A government inspector general report shows the IRS paid more than $513 million in first time homebuyer credits through June to people who likely did not qualify. About $326 million went to 47,000 taxpayers with prior home ownership, while other credits went to inmates, future buyers, and those who did not actually buy a home.
MENTIONED IN THIS ARTICLE
Washington
Internal Revenue Service
J. Russell George
Treasury Inspector General For Tax Administration
IRS
George
Popular Credit Pro
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