Do research if you’re considering buying silver coins. Precious metals dealer Safeguard Metals LLC and Jeffrey Ikahn have settled a lawsuit that alleged they engaged in a $68 million fraudulent scheme that targeted the seniors. Between October 2017 and July 2021, Safeguard and Ikahn deceived more than 450 customers nationwide.
Private equity firms purchase of oil and gas drilling companies could cost taxpayers billions in cleanup costs, study says
Recently, I wrote about how private equity firms are buying health providers practices, including my gastroenterologist’s, and how they bleed money from the companies, then sell them for a big profit. In 2021, some of the top industries for private equity investment include healthcare, technology, and consumer products.
Another large financial institution has been caught gouging customers. Raymond James agreed to settle allegations Tuesday with six state securities regulators for charging unreasonable commissions on trades that harmed investors. The broker-dealer will pay at least $8.2 million in refunds to clients, and $4.2 million in penalties and costs.
More than three quarters of adults have used a payment app, called a P2P or peer-to-peer or person-to-person app. Widely used nonbank payment apps include PayPal, Venmo, and Cash App. The apps can be used on a computer or mobile device to send money to someone else without writing a check or handing over cash.
An “investment opportunity” extremely popular on the social media platform WeChat stole millions from the Chinese community in the United States. Social media posts urged people to “invest” in various household goods and electronics, promising returns of 20-40 percent in one to three months. But it was really a scam.
Check out my money newsletter this week for details on deadlines for using Bed Bath & Beyond gift cards, Facebook and IKEA settlements, and more
My newsletter this week has a lot of helpful information so I’m posting a copy here. You have until May 8 to use Bed Bath & Beyond gift cards and rewards and until May 4 to file a claim for an IKEA settlement. You’ll also find tips on how to save money on gas and a list of some store brands that are better than name brands.
Earth Day is a good reminder of what to do every day and throughout the year for the health of the planet. I spend a lot of time on it. I know many people do, too. The theme for this year’s Earth Day is Invest in Our Planet. Three-quarters of Americans say that they’re particularly concerned with helping the environment as they go about their daily lives.
My best wishes to you and your loved ones for 2023. On New Years eve, I wrote about the top consumer and personal finance stories of 2022. Inflation and higher interest rates topped the list, and I predict that those two issues will continue to confront consumers throughout the new year. My recommendations include:
Michelle Singletary, financial writer for The Washington Post, has been recommending buying Series I Bonds for months now. Singletary says for investors with money to spare and who are looking for safety, inflation has been good for Series I Bonds, which the Treasury Department announced will be paying 9.62 percent until the end of October.
Kim Kardashian to pay $1.26 million to settle SEC charges she illegally hyped cryptocurrency on social media
Always be careful when you buy something based on the advice of a celebrity or influencer, especially investments. On social media, Kim Kardashian illegally touted cryptocurrency sold by EthereumMax without disclosing the payment she received for promoting it, the SEC said Monday.