US financial regulators charged a father and son in Utah state with operating a $220 million property investment Ponzi scheme which targeted fellow members of the Mormon church. The Securities and Exchange Commission charged Wendell Jacobson and his son Allen Jacobson, of Fountain Green in central Utah, with selling shares in their purported real estate business and using the funds from some investors to pay returns promised to others. It said that since 2008 the two had solicited investments into their business of ostensibly buying, rehabilitating and then renting out properties. They appeared to use the memberships in the Utah-based Church of Jesus Christ of Latter-Day Saints — the Mormon church — "to make connections and win over the trust of prospective investors," the SEC said. Securities in their businesses were sold to investors without registering with the SEC as required by law.
Tag Archives | Networking
A new "Augmented Reality" app uses facial recognition software to instantly match faces viewed through an Android smartphone camera to that person's social network profiles. "Point your phone's camera at someone nearby, and Recognizr measures facial features, builds a 3-D model, and sends the resulting signature to a server. If your subject has uploaded their photo and profile information, you'll see their name and icons that link to their profiles on Facebook, MySpace, Yahoo!, Twitter, Flickr, etc., all floating around their face!"
Chris Rovzar writes in New York:
After Eric Massa told the world about the time a naked Rahm Emanuel accosted him in the congressional locker rooms, we had to wonder: “Is there naked deal-making that goes on in D.C., or was that just a fantasy that Eric Massa concocted — which in his mind ended in a playful, ticklish snorkeling expedition?”
Initially, that seemed to be the case — but after sliding a few rungs down on the Beltway power ladder, the Washington Post managed to find a group of D.C. “insiders” who like to get naked and sweat together.
There is, apparently, a gang of mid-level lobbyists and bureaucrats who hang out in the big, scorching hot sauna at the Finnish Embassy. (It’s twice as hot as the one at the Swedish embassy).
Read More in New York