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Authorities arrested a man Wednesday whom federal prosecutors accuse of running a US$45mil (RM198mil) scam that netted him 39 Teslas and allegedly included false claims that a billionaire electric car company founder — likely Tesla CEO Elon Musk — was involved in the investment scheme. In a federal grand jury indictment unsealed Wednesday, Neil Suresh Chandran, 50, is alleged to have defrauded more than 10,000 victims since June 2018 by claiming that at least one of his five cryptocurrency and virtual-reality companies “was about to be purchased by a consortium of wealthy buyers and thereby yield his investors extremely high returns.” The indictment cites an alleged email from Chandran claiming an US$88,000 (RM388,080) investment would deliver a US$2 trillion (RM8.82 trillion) return. The alleged fraud seemingly involved claims about Musk, whom the indictment describes as “Billionaire 2” and “founder and CEO of an electric car company,” and also apparently about Amazon executive … [Read more...] about Man accused of buying 39 Teslas via US$45 million scam with apparent false ties to Elon Musk

Share to Twitter Share to Linkedin Topline Ohio’s six-week ban on abortion will remain in effect for now, the state Supreme Court ruled Friday, as abortion providers file a string of lawsuits aiming to block state-level bans that took effect following the U.S. Supreme Court overturning Roe v. Wade—and have been successful in other state courts. Key Facts The Ohio Supreme Court rejected a request by abortion providers to block the law as a lawsuit against it moved forward, after courts let the six-week ban take effect hours after Roe v. Wade was overturned June 24. Four states— Louisiana , Kentucky , Utah and Texas —have now had statewide abortion bans blocked in state court after abortion providers challenged them under state law, which have allowed abortions to resume in those states. Louisiana was the first state to have its abortion trigger laws blocked on Monday—at least until a hearing on July 8—after abortion providers … [Read more...] about Ohio Supreme Court Lets Abortion Ban Stand—Here’s Where State Lawsuits Stand Now

Regardless of whether you believe that cryptocurrencies will play a role in the future of finance, the recent collapse in price for some crypto assets offers important lessons for investors. This is particularly true for younger investors who, according to media reports, may have borne the brunt of these losses. Diversify. You’ve likely heard this time and time again, but the foundation of any prudent investment portfolio is proper risk management. One aspect of risk management is diversification. Another element of risk management is proper sizing of positions – don’t put a material percentage of your investable assets in any one investment. While some crypto assets may have become worthless, if you had capped the size of the investment and were properly diversified, the collapse of one holding shouldn’t create a big challenge. For instance, if you had 1% of your assets in a crypto lending platform that evaporated, it would be disappointing but should not be life-altering. With … [Read more...] about Road to Retirement: Crypto crash offers lessons for investors