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‘Organized Retail Crime’ Is Growing (And Not Just Because Of The Pandemic)

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Organized crime rings are taking advantage of the pandemic, looser police enforcement and a softening in anti-shoplifting laws to swipe tons of merchandise from retail stores and warehouses across the United States. KPIX-TV reported that the shop proudly advertised on Facebook Marketplace that customers “never pay retail.”.

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Off-Price Retailer Stein Mart Files For Chapter 11

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Off-price specialty retailer Stein Mart, Inc. filed for Chapter 11 bankruptcy in the United States Bankruptcy Court for the Middle District of Florida, Jacksonville Division amid a challenging retail climate and the pandemic, the company said in a statement. In July, Ascena Retail Group, Inc.

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American Dream?Miami Receives Approval From Florida Officials

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million-square-foot American Dream Miami — potentially the most expensive mall ever built — has received approval from officials in a Florida county. million square feet of retail, the new mall may have more space focused on entertainment. Already, Triple Five has secured zoning approval from a county commission.

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Bitcoin Daily: SEC Charges Florida Crypto Trader In $6.8M Fraud Case; Salt Lending To Pay $250,000 Fine, Refund ICO Investors; SEC Alleges Swedish National Bilked Crypto Investors Of $1.5M

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Securities and Exchange Commission (SEC) claims that a Florida digital currency trader purportedly bilked customers out of $6.8 The individual was charged with different contraventions of securities laws in a U.S. The SEC claims that the ICO served as an illicit unregistered offering of securities, the report stated.

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NRF: Inventory Shrink Has $46.8M Impact On Retailers

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In the modern age of retail, a National Retail Federation (NRF) study has found that inventory loss, due to crime or error, is having a $46.8 percent of sales to retailers, Forbes reported. According to the survey from the NRF and the University of Florida, 41 percent of polled retailers noted a rise in their inventory shrink.

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US DOJ Charges 14 With $28M In PPP Fraud

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In Florida, nine defendants have been charged in the U.S District Court for the Southern District of Florida with wire and bank fraud and conspiracy for seeking $24 million in forgivable PPP loans. Mckenzie, 38, of Miami Gardens, Florida; Andre M. The defendants include Damion O.

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Verizon, UPS Team Up On Drone Delivery For Retail

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Verizon , Verizon’s Skyward unit and UPS Flight Forward are teaming up to provide drone delivery for retail products using Verizon’s 4G LTE and 5G networks. The companies began testing the drones last year in Florida using Verizon’s 4G network and now plan to test them on Verizon’s new 5G Ultra Wideband network. “We

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