Category: Personal Finance

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New Jersey Bureau of Securities Revokes Registrations of Wells Fargo Financial Advisor Accused of Stealing from Elderly Clients

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the staff of the Ridgewood blog

Elizabeth NJ , Acting Attorney General Matthew J. Platkin and the Division of Consumer Affairs today announced that the New Jersey Bureau of Securities has revoked the registration of a former Wells Fargo agent and investment adviser representative for violating New Jersey’s securities laws. The Bureau found that Mario E. Rivero, Jr. made misrepresentations to at least four of his senior Wells Fargo customers to convince them to turn over at least $529,780 in cashier’s checks, over which he ultimately gained control for personal uses.

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Wholesale Prices Up 10%

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the staff of the Ridgewood blog

Washington DC, the Producer Price Index for final demand increased 0.8 percent in February, seasonally adjusted, the U.S. Bureau of Labor Statistics reported today. This rise followed advances of 1.2 percent in January and 0.4 percent in December 2021.  On an unadjusted basis, final demand prices moved up 10.0 percent for the 12 months ended in February.

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Cryptocurrency Schemes on the Rise in New Jersey

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the staff of the Ridgewood blog

Ridgewood NJ, the New Jersey Cybersecurity and Communications Integration Cell has recently received several reports of cryptocurrency-related incidents. Cryptocurrency schemes occur when threat actors gain access to users’ cryptocurrency exchange accounts. Threat actors offer investment tips and guaranteed returns in attempts to lure their victims. As cryptocurrency incidents continue to increase, the NJCCIC recommends users implement multifactor authentication and create strong and unique passwords for their accounts.

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New Jersey Society of CPAs Warns of Potential Charity Fraud Associated with the Ukraine Crisis

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the staff of the Ridgewood blog

Roseland NJ,  Many New Jersey residents want to help besieged Ukrainians amidst Russia’s invasion by contributing to charities, but the New Jersey Society of CPAs (NJCPA) is warning that scammers also want to help — they want to help themselves to donors’ money.

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New Jersey Ranks in Top 10 States for Venture Capital Dollars Invested

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photo : Thomas Edison

the staff of the Ridgewood blog

Trenton NJ,  the New Jersey Economic Development Authority (NJEDA) today announced that New Jersey now ranks ninth in the nation based on venture capital (VC) dollars invested per state. According to PitchBook, innovation-focused companies in New Jersey secured $5.5 billion in 219 venture capital deals in 2021, up from $1.7 billion thorough 154 deals in 2020. This represents a significant improvement for New Jersey relative to 2017, when the state saw a total of $818 million in 143 venture capital deals. In this latest ranking, New Jersey jumped three spots from where it stood at #12 in 2020, and seven spots from #16 in 2013. New Jersey’s share of the Northeast market also grew, by 1.4 percentage points in 2021 to 5.5 percent.

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American Oligarchs Behind Economic War on Russians

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By Charles Stampul

This is an attempt to make sense of the war that is now threatening Americans. Everything that follows is pure speculation for entertainment purposes only. Continue reading American Oligarchs Behind Economic War on Russians

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Nonfarm Payroll Employment Rose by 678,000 in February, unemployment rate edged down to 3.8 percent and the labor force participation rate, remained at 62.3 percent

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the staff of the Ridgewood blog

Washington DC, total nonfarm payroll employment rose by 678,000 in February, and the unemployment rate edged down to 3.8 percent, the U.S. Bureau of Labor Statistics reported today. Job growth was widespread, led by gains in leisure and hospitality, professional and business services, health care, and construction.

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The US Securities and Exchange Commission Targets NFT Creators, Marketplaces Over ICO-Like Sales

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the staff f the Ridgewood blog

Ridgewood NJ, the US Securities and Exchange Commission is investigating NFT creators and marketplaces for regulatory violations. The probe will look into whether NFTs are being used to raise money like traditional securities. Several subpoenas related to the investigation have already been issued. Experts have been warning the community about the possibility of this investigation for years. The SEC has come after ICOs for similar violations in the past. It is concerned that cryptocurrency projects are merely finding new variations of unregistered securities.

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SHOCKER : NJ State Senate Proposes Ways to Enhance Retirement Savings

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state of New Jersey attempts to help people who work for a living , what gives????

the staff of the Ridgewood blog

Trenton NJ,  in an effort to encourage and help more New Jersey workers have secure retirements, the Senate Budget and Appropriations Committee approved legislation that would provide taxpayers a gross income tax exclusion in the amount of contributions made to a qualified retirement plan.

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Market Freakishly Unalarmed by Weekend Developments

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By Charles Stampul
It’s not the actions on the ground and in the air, but the financial war measures enacted by the US and EU that should have market participants worried.  In response to Russia’s invasion of Ukraine, Western governments are going after Russia’s currency and banking system with seemingly no awareness of the risks of either retaliation by Russia or contagion.

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Inflation: Wholesale Prices Jump 1% , Up 9.7% For the Year

Fed Chairman Jerome Powell

the staff of the Ridgewood blog

Ridgewood NJ, the Producer Price Index (wholesale prices) for final demand increased 1.0 percent in January, seasonally adjusted, the U.S. Bureau of Labor Statistics reported today. This rise followed advances of 0.4 percent in December 2021 and 0.9 percent in November.

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Inflation Rose at the “Faster then Expected ” Pace of 7.5%

Fed Chairman Jerome Powell

Inflation the largest 12-month increase since the period ending February 1982

the staff of the Ridgewood blog

Ridgewood NJ, the Consumer Price Index for All Urban Consumers (CPI-U) increased 0.6 percent in January on a seasonally adjusted basis, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 7.5 percent before seasonal adjustment. Increases in the indexes for food, electricity, and shelter were the largest contributors to the seasonally adjusted all items increase. The food index rose 0.9 percent in January following a 0.5-percent increase in December.

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‘Crocodile of Wall Street’ and Her Husband Arrested for Alleged Conspiracy to Launder $4.5 Billion in Stolen Cryptocurrency

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Government Seized $3.6 Billion in Stolen Cryptocurrency Directly Linked to 2016 Hack of Virtual Currency Exchange

the staff of the Ridgewood blog

New York NY, two individuals were arrested this morning in Manhattan for an alleged conspiracy to launder cryptocurrency that was stolen during the 2016 hack of Bitfinex, a virtual currency exchange, presently valued at approximately $4.5 billion. Thus far, law enforcement has seized over $3.6 billion in cryptocurrency linked to that hack.

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Important Things You Should Consider Before Investing In Crypto

Utah Software Engineer Mints Physical Bitcoins

The crypto market is extremely volatile. This means that it is important to understand what you are investing in before pouring your hard earn cash into the virtual currency markets. Usually, when someone thinks about cryptocurrencies, they immediately associate them with high returns. Although this may be true, the cryptocurrency markets still have a lot of risks that many traders do not take into consideration when making their trades or investments. The following includes an introduction to cryptocurrency and some very important things that all traders should consider before deciding to invest in any cryptocurrencies.

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