Friends With Mutual Benefits

Joel Steinger created a string of failed businesses including importing groceries from Puerto Rico and a diet pizza restaurant, but the last business Joel started was the most morbid. Learn about what went wrong when Joel decided to bet on people dying, and what he did when they didn’t!
SPONSORS

Avalara
https://ohmyfraud.promo/avalara

REFERENCES

CNBC’s American Greed Episode: “Friends Without Benefits”
https://www.cnbc.com/video/2015/10/19/american-greed-friends-without-benefits.html 

Viatical Settlements: https://en.wikipedia.org/wiki/Viatical_settlement 

U.S. SECURITIES AND EXCHANGE COMMISSION Litigation Release No. 18698 / May 6, 2004
2020 ACFE Report to the Nations: https://www.acfe.com/report-to-the-nations/2020/ 

UNITED STATES DISTRICT COURT 
SOUTHERN DISTRICT OF FLORIDA
CASE NO. 04-60573-CIV-MORENO/SIMONTON https://www.sec.gov/litigation/complaints/comp19274.pdf

South Florida Mastermind of $1 billion-plus swindle sentenced … 

Great frauds in history: Joel Steinger and the Mutual Benefits Corporation

Former Mutual Benefits Corporation Head Sentenced To 20 Years In Prison For His Role In $1 Billion MBC Scheme



A WORD FROM OUR SPONSOR

Thank you to our sponsor, Avalara. Avalara’s award-winning tax automation solutions help accounting practitioners and businesses of all sizes simplify sales tax compliance and with real-time rates, automated returns filing, and more.

In October 2021 IDC MarketScape named Avalara a Leader in tax automation in three categories (small and midsize business, enterprise, and VAT).  If you’re considering tax automation, check out the independent IDC evaluations at http://OMF.show/avalara

Learn more about Avalara for Accountants and you’ll get a free gift: meet with an expert to explore how Avalara can help your accounting practice grow, and you’ll receive a $50 gift card. Contact Avalara at Accountants@Avalara.com, and mention the code  “Fraud”

HOW TO EARN FREE CPE

In less than 10 minutes, you can earn 1 hour of NASBA-approved accounting CPE after listening to this episode. Download our mobile app, sign up, and look for the Oh My Fraud channel. Register for the course, complete a short quiz, and get your CPE certificate.

Download the app:

Apple: https://apps.apple.com/us/app/earmark-cpe/id1562599728
Android: https://play.google.com/store/apps/details?id=com.earmarkcpe.app

Questions? Need help? Email support@earmarkcpe.com.

CONNECT WITH THE HOSTS

Greg Kyte, CPA
Twitter: https://twitter.com/gregkyte
LinkedIn: https://www.linkedin.com/in/gregkyte/

Caleb Newquist
Twitter: https://twitter.com/cnewquist
LinkedIn: https://www.linkedin.com/in/calebnewquist/
Friends With Mutual Benefits
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