Daily Archives: December 22, 2017

Volkswagen's Pikes Peak car key to electric World Rallycross plan

Volkswagen’s electric Pikes Peak car is key to its motorsport future, and could lead to a full factory return to competition in the World Rallycross Championship’s planned electric class

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Mika Kallio disappointed not to get full-time KTM MotoGP 2018 seat

KTM test rider Mika Kallio admits he is disappointed to have missed out on a full-time seat in MotoGP with the Austrian marque after it opted to retain Bradley Smith

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Honda against hybrids in future IndyCar engine rules

Honda Performance Development says it does not want Formula 1-style hybrid elements to become part of IndyCar’s engines in the future

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HEN’s 5 Times Raincoats Were Worn Perfectly

To toast the release of her new single ‘Raincoats’, Adelaide indie-pop darling HEN has shared her list of top five times raincoats were worn perfectly!

1. Jessica Chastain

Ok, to be fair Jessica Chastain would love gorgeous in anything. But I LOVE this Raincoat by Terra New York. This whole look is so effortless and elegant. Bonus points because this raincoat is also made from 80% recycled materials and is biodegradable!

2. Lea Michele

How gorgeous and bright is this beautiful number by Ted Baker! I love the vibrant purple and the fact that you could literally wear your pyjamas underneath and no one would know!

3. Veronica Popoiacu

Ok, I am so in love with this look. Yellow is my favourite colour and this match up of yellow summer dress and another gorgeous white Terra New York raincoat is making me very, very happy.

4. Ariana Grande

Apparently Ariana and I share a love of raincoats. It was hard to pick my favourite but I got super nostalgic looking at this 90’s Spice Girl inspired look with awesome transparent raincoat from Nasty Gal. Adorable!

5. Leonard Cohen

I couldn’t write this list without paying homage to the man who inspired my love of raincoats in the first place with his song ‘Famous Blue Raincoat’. The man was a sharp dresser and an amazing poet.


HEN’s new single ‘Raincoats’ is out now.

The post HEN’s 5 Times Raincoats Were Worn Perfectly appeared first on theFashionSpot.

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Video: Backcountry Skating in Alaska

This is one of the more beautiful and intriguing adventure films I’ve come across in some time. It comes our way courtesy of Outside mag, and takes us to the spectacular Alaskan backcountry not to go skiing, snowboarding, or climbing, but skating instead. The frozen rivers and lakes of the “Last Frontier” take center stage here, with skaters effortlessly exploring some of the most breathtaking…

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The Feds say they just blew up a $1.2 billion Ponzi scheme aimed at thousands of elderly people in Florida

senior citizens retirement

  • The US Securities and Exchange Commission has filed charges against Robert Shapiro, alleging he bilked investors — many of them senior citizens — out of $1.2 billion as part of a Ponzi scheme.
  • The SEC says it has frozen all remaining assets as it pursues its case, which includes charges of fraud and violating broker-dealer registration provisions.

The US Securities and Exchange Commission has filed charges against a group of unregistered investment funds and their owner, alleging a $1.2 billion Ponzi scheme.

Robert Shapiro is accused of using the group of firms, called the Woodbridge Group of Companies LLC, to defraud more than 8,400 investors — many of which, the SEC says, are senior citizens.

The SEC says the company, formerly headquartered in Boca Raton, Florida, had promised to pay these investors interest of 5-10% annually.

Woodbridge had said its primary business was the issuance of loans to third-party commercial-property owners that paid 11-15% annual interest. But the SEC’s complaint says the “vast majority” of borrowers were companies owned by Shapiro that had no income and never made such interest payments.

“Our complaint alleges that Woodbridge’s business model was a sham,” Steven Peikin, a director of the SEC’s Enforcement Division, said in a release. “The only way Woodbridge was able to pay investors their dividends and interest payments was through the constant infusion of new investor money.”

“Our complaint further alleges that Shapiro used a web of layered companies to conceal his ownership interest in the purported third-party borrowers,” Eric Bustillo, the director of the SEC’s Miami regional office, added. “Shapiro used the scheme to line his pockets with millions of investor dollars.”

Shapiro and Woodbridge are also accused of trying to keep investors from exiting their positions at the end of their terms. Marketing materials for Woodbridge boasted of a 90% renewal rate, the SEC says.

Further, the SEC accuses them of paying $64.5 million in commissions to sales agents who pitched the opportunities to prospective clients as “low risk” and “conservative.”

The complaint also says Shapiro funneled $21 million to himself, then spent that on chartered planes, country-club fees, luxury vehicles, and jewelry.

The Ponzi scheme collapsed earlier this month after Woodbridge stopped paying investors and filed for Chapter 11 bankruptcy protection, the complaint says. The SEC says it has also frozen all affiliated assets.

Shapiro, Woodbridge, and certain related companies are charged with fraud and violating the securities and broker-dealer registration provisions of federal securities laws. The SEC says it’s pursuing the “return of allegedly ill-gotten gains with interest and financial penalties.”

An initial court hearing has been scheduled for December 29.

SEE ALSO: An econ professor turned small-business owner breaks down his 3 big problems with the GOP tax plan

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NOW WATCH: PAUL KRUGMAN: Bitcoin is a more obvious bubble than housing was

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