West Hempstead Attorney Sentenced for $6M Theft

first_imgSign up for our COVID-19 newsletter to stay up-to-date on the latest coronavirus news throughout New York A former attorney from West Hempstead was sentenced Monday to three to nine years in prison for stealing more than $5.7 million from clients and spending the funds on personal expenses.David Frankel pleaded guilty to grand larceny in January at Nassau County court.Prosecutors said the 52-year-old man represented seven realty companies with overlapping ownership in eight Brooklyn properties that the owners refinanced and placed $5,769,281.17 in escrow while they decided how to use the money in 2012.Days after the deposit was made, Frankel started using the money to fund his own unsuccessful investments and to make payments in unrelated real estate transactions—all of which was unauthorized—until only of $836.81 was left two years later, authorities said.Frankel was arrested in October 2015 and later disbarred.last_img read more

Do our kids have the money smarts to live in the real world?

first_img 6SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr by: Neale GodfreyThis could be a really short article, because the easy answer to the question posed in the title is: “No.”  Simply put, our kids are financially illiterate.You have all witnessed the following scene at your local convenience store: The total bill comes to $11.93 and you hand the 16-year-old cashier a $20 bill and three cents.  The teenager looks at the amount you’ve handed them with a blank stare, struggling to figure out the change.  You have completely stumped them, but fear not; the cash register will make the change.  Remember the good ‘ole days when we were taught how to make change?  Those days are gone!You might say, “So, what is the big deal; let kids be kids.”The big deal is that these kids not only have access to money now, they will inherit a bundle from us (approximately $59 trillion) in the future.  And, without proper guidance and education, our kids will end up the way that many Americans have… in debt.A sobering stat: continue reading »last_img read more

Property companies love shopping

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Dow Netherlands willing to compensate scheme for lower returns

first_imgCurrently, Dow pays its pension fund a costs-covering contribution, with its workers contributing 1.82% of their pensionable salary.The closed scheme, with a declining number of participants, is currently reducing its investment risk in order to stabilise the financial results.Last year it gradually started divesting its alternatives, including real estate and infrastructure, in favour of fixed income holdings.It also decided to reduce its equity allocation from 30% to 25%, while increasing its fixed income portfolio to 75%.The pension fund further indicated that it would raise the interest hedge of its liabilities from 75% to 85%.It added that, while it was recalibrating its investment portfolio, it would assess the extent of its credentials on socially responsible investing.The Dow scheme reported an investment loss of 1% for 2018. It said it lost 4.9% on equity, while returning 9.7% on its alternatives. Fixed income generated 1.2%.The pension fund has approximately 1,470 active participants, 1,045 deferred members and 2,770 pensioners.At August-end, its funding stood at 115.9%. Employer Dow Chemical is willing to increase its pensions contribution in order to compensate for lower returns generated by its Dutch pension fund, after it has reduced its investment risk.In a newsletter to its participants, the €2.5bn pension fund explained that an increased contribution would reduce the risk that the employer would have to fill in a financial shortfall at its defined benefit (DB) scheme during economic headwind.The sponsor’s willingness goes against the usual practice of employers aiming at a steady premium by switching to a defined contribution (DC) plan, removing the requirement to plug financial gaps at their pension fund.Both the employer and the pension fund declined to provide additional information.last_img read more

Gold Coast mansion’s sale rakes in huge profit

first_img MORE NEWS: Rainforest motel up for grabs Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 0:29Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:29 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD540p540p360p360p270p270pAutoA, selectedAudio Tracken (Main), selectedFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.This is a modal window. This modal can be closed by pressing the Escape key or activating the close button.Close Modal DialogThis is a modal window. This modal can be closed by pressing the Escape key or activating the close button.PlayMuteCurrent Time 0:00/Duration 0:00Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:00 Playback Rate1xFullscreenWays to get into the property market for less00:29 The Isle of Capri mansion at 25 The Corso sold for $4.5 million.A GOLD Coast resident has pocketed an extra $1.5 million on the sale of their waterfront mansion less than four years after buying it.The seller splashed $3 million on the Isle of Capri mansion in July 2016 and offloaded it for $4.5 million in January.The four-bedroom house had been listed for about seven months, with several agencies trying to sell it before it was taken off the market in October.Ray White Prestige agent Jackson Paradise eventually found a buyer through the agency’s extensive database.“It was sold to a local buyer,” he said.“They loved the position of the home and the view, and the finishes inside are impressive.“They’re planning on moving in to enjoy the lifestyle.” MORE NEWS: Coast’s cheapest suburb to rentcenter_img It previously sold in 2016 for $3 million A local buyer snapped up the property.The contemporary two-storey home is on a 567sq m waterfront block and has a pool and pontoon.A black and white scheme and stone and timber finishes throughout give it an air of sophistication.The indoor and outdoor spaces flow seamlessly and include several statement features, such as a glass-encased wine cellar and eco smart bioethanol fireplace.There are two bedrooms on the ground floor and a further two upstairs including the main, which has a wraparound balcony.The house’s north-facing position offers panoramic views of Adams Basin, Girung Island and the Surfers Paradise skyline.Mr Paradise, who had previously been marketing the house with Jordan Thams, said demand for premium properties in the prestige enclaves of Surfers Paradise was outstripping supply, with cashed-up buyers from Melbourne and Sydney leading the charge. The waterfront property has four bedrooms and three bathrooms. More from news02:37International architect Desmond Brooks selling luxury beach villa8 hours ago02:37Gold Coast property: Sovereign Islands mega mansion hits market with $16m price tag1 day agoIt has spectacular views of the city skyline.“We did have a lot of buyers that were interested (in The Corso),” Mr Paradise said.“We’ve still got buyers left over who want to purchase in those areas.”Surfers Paradise recently became the Glitter Strip’s most expensive suburb for houses.Mermaid Beach had long held the title but its $1.38 million median house price now trails that of Surfers Paradise, which sits at $1.65 million, according to REA Group data.The figure is based on 82 sales in the city’s tourism heart, which includes the exclusive enclaves of Chevron Island, the Isle of Capri and Paradise Waters.Latest data shows Surfers Paradise’s median house price has jumped 36.9 per cent in the past five years.The median apartment price has climbed 10.4 per cent in the same period to $370,000, which was based on 855 sales in the past year.CoreLogic’s Best Of The Best 2019 report revealed Surfers Paradise recorded the highest value of unit sales in the country last year at $498,220,700.last_img read more

Virus sets off new school closures in Australia

first_imgMELBOURNE – Australia’s Victoria state has recorded 17 new cases of COVID-19, resulting in the closing of two primary schools in Melbourne. State Premier Daniel Andrews said there would be “significant community transmission” among the new cases. Andrews said one of the new cases was from a person in hotel quarantine, two were from known outbreaks, three were from routine testing and 11 were under investigation. The two schools have been closed for thorough cleaning after students from both schools tested positive for the coronavirus. Victorian State Premier Daniel Andrews addresses a press conference in Melbourne, Australia, Tuesday, June 23, 2020. AP The suburbs where the schools are located are two of six local government hot spots in recent weeks. (AP)last_img read more

Modified rookie awards are new in KSE’s 20th season as IMCA sponsor

first_imgWHITE HOUSE, Tenn. – Modified rookie of the year awards are new to KSE Racing Products’ 20th year in marketing partnership with IMCA.The high-performance parts manufacturer out of White House, Tenn., completes a second decade of sponsorship in 2016. They will be awarding their new fast ratio 700 Series steering boxes to the top rookie drivers in each of the five Xtreme Motor Sports IMCA Modified regions.KSE has also renewed the product awards and product certificates based on national standings and results of special events for Modifieds, IMCA Late Models and IMCA EMI RaceSaver Sprint Cars.The national Modified champion earns a new KSE TandemX Pump (power steering/fuel). Second through fifth place finishers in the national standings each get $200 product certificates while sixth through 10th place drivers re­ceive $100 product certificates.A Gen2 power steering gear will be awarded to the National Sprint Car champion. Second through 10th place drivers in national standings for that division receive $100 product certificates.Additionally, designated place finishers at 50 special events for Modifieds, Late Models and Sprint Cars earn product certificates of the same value.Certificates will be mailed from the IMCA home office or presented during the national awards banquet.“The steering boxes are a new product for KSE and we wanted to target new drivers to the division and offer them a great incentive for a rookie of the year award,” noted IMCA Marketing Director Kevin Yoder. “Hopefully we’ll be able to renew the program year after year and continually inspire new Xtreme Motor Sports IMCA Modified drivers to achieve their highest goals.”For additional product information, visit KSE’s website at www.kse-racing.com, call 615 672-5117 or follow them on Facebook and Twitter.“KSE is proud to be onboard again as a marketing partner with IMCA for our 20th season and we’re excited about the new rookie of the year awards. KSE originally started in Northwest Iowa so IMCA Modifieds have always been a major focus of our product development,” said KSE Vice President and Product Engineer Daniel Korrect.“With the latest introduction of our new steering box, KSE now offers all major products for a complete, high quality power steering system dedicated to open wheel Modifieds,” he continued.”We’re definitely looking forward to the coming season and we’ve got several additional new products in development so please make sure to watch out for new product releases from KSE.”last_img read more

BMV to open for walk-in customers Monday

first_imgStatewide— The Indiana Bureau of Motor Vehicles will soon allow walk-in customers starting June 15.  The branches will be able to assist with all transactions except driving tests.  The expiration date for Hoosiers holding a driver’s license, permit, state identification card, or vehicle registration card that has expired during the public health emergency is effectively extended through June 30. Individuals need to complete their renewal transactions prior to July 1 to avoid paying an administrative penalty fee. Title transactions and new vehicle registration must also be complete prior to July 1.last_img read more

Rodgers gives Suarez full backing

first_img The Uruguay international took the armband for Sunday’s 5-0 win at Tottenham in the absence of the injured Steven Gerrard and with vice-captain Daniel Agger on the bench. Some questioned whether a player who in nearly three years at the club has had lengthy suspensions for racially abusing Manchester United’s Patrice Evra (seven games) and biting Branislav Ivanovic (10 games), and had tried to force a move away in the summer was deserving of such an honour, especially at a club which had such proud traditions and some exemplary leaders. Liverpool manager Brendan Rodgers believes even Luis Suarez, with his controversial history at the club, deserves a shot at redemption and he had no qualms about naming him as stand-in captain. “I know him well enough and speak with him enough to think he is a great player, a good man and in Stevie’s absence and with Daniel not being in the team I couldn’t think of anyone better to lead the team than Luis Suarez.” Rodgers added: “I think it is part of nature that you mature and the ban hit him really hard last time. “I’ve got to know him as a human being and I know a lot of things written and said about him couldn’t be further from the truth. “He is a really humble man, he just has this unique desire to win games. If you judge him on his football he is up there with the world’s best. “As a human being he’s had his difficult moments and we’ve had our difficult moments with him, but he is a great guy and is really coming to the fore in this period. “He is not only a top player he is one of the pillars of the group. He is maturing, accepting the role and responsibility I’ve given him here. “We are a young side with an average age probably the lowest for a number of years and he has taken on that mantle in order to help and support those young players while having that X-factor to his game.” Suarez is set to lead out Liverpool at Anfield against Cardiff on Saturday. It is a ground where he has scored 12 times in his five appearances this season, goals which have propelled Liverpool not only into the running for Champions League qualification but also title contention as they sit just two points behind Arsenal. Returning to Europe’s elite club competition is likely to be the minimum requirement to keep Suarez at the club. Liverpool have opened preliminary talks over a new, lucrative deal but there is no chance anything would be signed before the club’s fate next season is confirmed. “Contractually with any players it is private so at the minute he is just focusing on his football and there is nothing to report on that (a new contract),” said the Reds boss. “We are just very much focused on improving our performance level and improving players and I think that will all take care of itself, I don’t think there is any rush at this moment in time. “Of course he is a player we want to keep here and build the team around in the coming years.” Gerrard, sidelined until next month with a hamstring injury, is making good progress in his recovery. “Steven is coming along very well, he is outside working and running,” said Rodgers. Bur Rodgers believes the 26-year-old has matured significantly since his most recent ban earlier this year and is keen to give Suarez a chance to make amends. His 17 goals in 11 games to be the leading Premier League goalscorer, firing the Reds into second place, has gone some way to doing that. And with the club desperate to keep the striker – managing director Ian Ayre flew to Barcelona this week to open talks over a new contract – Rodgers will hope any vote of confidence he can give will be reciprocated. “You have seen his performances and conduct,” he said. “Whenever you choose the captain for a team or a club you always analyse lots of things that happen on and off the field. “We all make mistakes and you would hate to think he would be punished for a lifetime because of that. “This is a guy who has made a mistake and what he has shown is he is a learner in response to that. “The award from the supporters (Suarez was voted player of the year by the Football Supporters’ Federation on Sunday), not just those here at Liverpool but throughout the nation who picked him as a top player, in itself, is great redemption for what has happened in the past. Press Associationlast_img read more