Friends With Mutual Benefits | The Mother of All Florida Ponzi Schemes
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!
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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.
Launch the course on EarmarkCPE to get free CPE/CE for listening to this episode.
Download the app:
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REFERENCES
Avalara https://ohmyfraud.promo/avalara
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.
Launch the course on EarmarkCPE to get free CPE/CE for listening to this episode.
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.
REFERENCES
CNBC’s American Greed Episode: “Friends Without Benefits”
https://www.cnbc.com/video/2015/10/19/american-greed-friends-without-benefits.html
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
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
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/
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/
Creators and Guests
Host
Caleb Newquist
Writer l Content at @GustoHQ | Co-host @ohmyfraud | Founding editor @going_concern | Former @CCDedu prof | @JeffSymphony board member | Trying to pay attention.
