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Puerto Rico Falls Prey To $4M Online Fraud

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An online scam targeted $4 million in retirement funds from at least four Puerto Rico agencies, according to reports on Thursday (Feb. Agencies affected include the Puerto Rico Industrial Development Co. and the Puerto Rico Tourism Co. The finance director at the Puerto Rico Industrial Development Co.

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PR Gov’t Loses $2.6M Due To Email Phishing

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The government of Puerto Rico lost $2.6 The department has faced strong criticism from the people of Puerto Rico about the incident, as the country has been dealing with a recession for more than a decade, and some government services have been cut as a result. “I The department is actively trying to get the money back.

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Ripple Lawsuit Alleges Fraud In XRP Sale

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A little-known Puerto Rican company, Bitcoin Manipulation Abatement (BMA), has filed a lawsuit against Ripple , accusing the blockchain firm of breaking rules when it ran a recent securities sale, CoinDesk reported. billion XRP sale with the relevant authorities. The firm also wants the court to award “compensatory damages.”.

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Brooks Brothers Reports Payment Breach

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and Puerto Rico had their payment card information compromised. While the information hacked included names, account numbers, expiration dates and verification codes, Brooks Brothers confirmed sensitive information like social security numbers and addresses weren’t compromised. This past week, the U.S.-based

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Report: ABG May Buy Bankrupt Ann Taylor Parent Firm Ascena

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In its Chapter 11 filing, Ascena wrote that it reached a restructuring agreement with 68 percent of its secured term lenders and received $150 million in new loans. Under a restructuring, the conglomerate would close its Canada, Puerto Rico and Mexico stores and its Catherines shops. billion debt.

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Corporate Debt Has A Bad Side

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70 billion in debts are threatening to cripple Puerto Rico , the result of the government borrowing to keep its state-run businesses afloat, among other factors. The island’s debt crisis is complicated further by the fact that Puerto Rico does not have the legal ability to restructure its debt.

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Kachkar Charged With $140 Million Fraud

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In 2010, Westernbank Puerto Rico, the country’s second-largest commercial bank, took a loss of more than $140 million on loans to a Florida businessman, 53-year-old Jack Kachkar, which contributed to its failure, according to the FDIC’s inspector general. to borrow tens of millions of dollars in credit from Westernbank Puerto Rico.