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Case Summary: 

Some lawyers are called "ambulance chasers." In the USA, in medicine, the equivalent function is performed by "Patient Recruiters" and, yes, the US authorities even use capital letters, just like that. The system is ripe for fraud and convictions have been obtained in a case where the loss to the US Medicare system is USD33 million.

Type of conduct: 
Healthcare / Medicare fraud
Open Letter to ( CEO ): 
Mr Shinzō Abe
Open Letter to ( Company ): 
G20 Group of Nations
Summary: 

Dear Mr Abe

This month, the G20 will meet for a "money laundering and crypto-discussion." You will hear from many so-called experts. They will form a mutual appreciation society which spends its time saying how complicated the subject is, how it can undermine economies, how it has the capacity to undermine governments and society.

This is all true. It is also self-evident. It does not require a meeting of senior civil servants at the taxpayer's expense to conclude what is common sense as well as common knowledge. But that's not the real reason I am writing to you.

The Canadian Grand Prix produced excellent and exciting racing. Strategy played almost no part and we were treated to motor racing at its best. Sadly, the racing has been overshadowed.

CoNet Section: 

Case Summary: 

An accountant, assisted by his wife, invited investments into a scheme he operated. But there were no investments only money used for his own purposes, laundered via his wife - and setting up a separate Ponzi-type scheme.

Type of conduct: 
Consumer fraud

IMPORTANT NOTICE: 20190606

This article was published yesterday under the title "It's Time To Take Care Of Yourself How did it come to this? A healthy teenager is put to death, at her own request." It has been brought to my notice that, despite finding apparent confirmation of a significant fact across many examples of reputable media, the information was unreliable. Equally, at least at the time of writing this notice, it is not clear that the contrary views are reliable either. Nevertheless, I have made modifications to the article so as to avoid any potential distress to the family of the girl concerned, while the vast majority of the article is about circumstances rather than that specific case. The article is, therefore, republished as amended.

In the North West of China, in the district of Inner Mongolia, a small private bank started to get into trouble. The warning signs, with hindsight, were apparent but it's a kind of problem that, while common in Russia a couple of decades ago, is not usual in China. The results, however, are predictable for both financial and cultural reasons.

BIScom Subsection: 

Don't say that: 

" They both received 6 months each."

Do say this: 

They received six months each

or

they both received six months

It's not the best way to start the week, much less the month. The first notice from Australian regulator The Australian Securities and Investment Commission tells that Macquarie Securities (Australia) Limited has been issued a penalty notice : ASIC "believes" the company "contravened" market integrity rules. The failure was of design, implementation and maintenance of compliance systems, not an intention to not comply, ASIC says. Plus ça change in so much of the financial sector, then.

BIScom Subsection: 

Tracing its heritage to 1787 (that's a year, not a time), Raphaels Bank is one of the oldest independent banks in the UK. The bank says "today, we operate as a dynamic, niche savings and lending bank." It also operates "our own ATM Estate" and says it's a "well-established payment services provider." That, it is hard to escape concluding, is that this venerable institution is capitalising on its size and ability to operate in areas more usually associated with secondary institutiond and fintech companies. But for such a tiny business, it comes to the attention of regulators more than is healthy.

BIScom Subsection: 

If we take out the hyperbole inherent in American notices (e.g. "violation" instead of "breach" and the profligate use of words like "egregious") we get to a nitty gritty that is a stone in the shoe, a thorn in the side or any one of a dozen bon mots that indicate how and why compliance officers need to be abreast of principles more than data. One has to feel some sympathy with State Street. The case also have implications for citizens of one country living abroad, especially pensioners.

Publication: 

In Australia, 14 airlines have been found to have colluded to fix prices for freight. The latest to be brought to book is Garuda Indonesia and the penalties are substantial.

Today's news that a prosecution has collapsed and a jury discharged without even considering the evidence because of the lack of credibility of a witness put up as an expert might not be big news - if it wasn't for the fact that the witness is Andrew Ager, a sticky character, a self-described Subject Matter Expert, that the Crown Prosecution Service used as their go-to-guy for anything to do with carbon credits and, sometimes, frauds in other areas, too. Even more startling is the witness' attempts to pervert the course of justice. The CPS is, once more, the subject of much head-shaking for being rubbish. But culpable as they are, the CPS is not the only one against which accusations of ineptitude should be levelled.

CoNet Section: 

The Australian Competition and Consumer Commission has begun proceedings in the Federal Court against Sony Interactive Entertainment Network Europe Limited (Sony Europe).

 

The complaint relates to limitations on warranty for Sony's online sales of PlayStation products that appear on its website and have been notified to Australian consumers in dealings with them.

It's far, far more complicated than the ACCC suggests and for global retailers it's a major threat.

The front page of the website of a solicitor's practice in Bolton in the north of England says "WARNING – SCAM ALERT – We have been advised that Allansons has been cited as the instructed solicitors by Agents purporting to be from ECM Asset Management Limited and in connection with investment equity release. No such company exists and we have been informed this is part of an ongoing investment scam. Allansons has not been instructed by any such company nor been involved in any such scheme." Sadly, the profession's regulator has found, there was malfeasance within the firm. And there is apparently unrelated skulduggery afoot.

CoNet Section: 

I'm highly critical of American style oval racing. It's far too orchestrated by "IndyCar" or "Nascar" and it's boring unless there's a crash (and who wants to wish for crashes that cause injury or death?). After all, who wants to sit through 185 laps only for a crash to force the "full course yellow" or, even, "safety car" that sets up the cars for the only bit that really matters: the last ten laps or so to the finish. I've watched it, on and off, for several decades and it's almost always Dullsville personified. Until this year's Indy 500. Oh, how I wish they could all be like this.

CoNet Section: 

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