Fair 31°
Tag:

Stock Market

News
Virginia Ponzi Schemer Who Bilked Investors Out Of $15M Learns His Fate: Feds Virginia Ponzi Schemer Who Bilked Investors Out Of $15M Learns His Fate: Feds
Virginia Ponzi Schemer Who Bilked Investors Out Of $15M Learns His Fate: Feds A Loudoun County man who bilked investors from up and down the East Coast out of millions of dollars will spend years behind bars. Aldie resident Babu Ramaraj, 47, who owned DAB Inspection and Consulting Services, a small home contractor with modest revenues doing patio and deck projects, was sentenced to more than seven years in prison for causing upwards of $15 million in losses, federal authorities announced. His victims were primarily in Virginia, Maryland, North Carolina, New Jersey, and Missouri. According to court documents, Ramaraj claimed to investors and potential …

SHARE

by Zak Failla
News
Mass Global Tech Outage Grounds Flights, Causes Chaos With Banks, Stock Markets, Media Mass Global Tech Outage Grounds Flights, Causes Chaos With Banks, Stock Markets, Media
Mass Global Tech Outage Grounds Flights, Causes Chaos With Banks, Stock Markets, Media A major tech outage is causing issues worldwide, including grounding flights. Banks, stock markets, and media outlets are also being affected on Friday morning, July 19. An update by cybersecurity technology company CrowdStrike appears to be the cause of device outages for millions of Microsoft Windows device users. Several major US air carriers, including Delta, United, and Spirit are under a full ground stop, according to the FAA. "Several airlines have requested FAA assistance with ground stops until the issue is resolved," the agency said. Microsoft has said it is taking "mitigation …

SHARE

by Joe Lombardi
News
$6.8M COVID-19 Scam: Ex-Hedge Fund Manager Gets 4+ Years, No Parole $6.8M COVID-19 Scam: Ex-Hedge Fund Manager Gets 4+ Years, No Parole
$6.8M Covid-19 Scam: Ex-Hedge Fund Manager Gets 4+ Years, No Parole A dual New York/Florida resident was sentenced in New Jersey to a plea-bargained 51 months in federal prison for fraudulently collecting more than $6.8 million in COVID-19 payroll protection loans -- $3 million of which he lost in the stock market. Gregory J. Blotnick, 35, will have to serve just about all of the sentence because there's no parole in the federal prison system. In addition to the prison term, U.S. District Judge Brian R. Martinotti sentenced Blotnick in Newark to two years of supervised release and ordered him to pay restitution of $4,577,631. Blotnick told the judge last f…

SHARE

by Jerry DeMarco
Real Estate
Herndon's ManTech Acquired For $4.2B by DC Firm Herndon's ManTech Acquired For $4.2B by DC Firm
Herndon's ManTech Acquired For $4.2B by DC Firm ManTech International, a Herndon-based defense contractor with more than 9,000 employees, will be acquired by Washington DC equity firm Carlyle Group for a cool $4.2 billion, the company announced. “This announcement is an important milestone for ManTech and a testament to our growth and the leadership position we have built since our founding by George Pedersen more than 50 years ago,” said ManTech CEO and President Kevin M. Phillips in a press release.  ManTech provides analytics and cybersecurity to the country's defense and intelligence agencies.  The all-cash deal received t…

SHARE

by Josh Lanier
News
Freshly Laid Off Netflix Workers Share Their Stories On Twitter Freshly Laid Off Netflix Workers Share Their Stories On Twitter
Freshly Laid Off Netflix Workers Share Their Stories On Twitter A bevy of laid off Netflix workers are airing their grievances on Twitter, and the world is watching. The layoffs come from the company's newly-launched fan site Tudum, Deadline reports. Tudum was named after the sound that Netflix makes when it opens. A Netflix spokesperson responding to Daily Voice's request for comment said only that "our fan website Tudum is an important priority for the company," and did not disclose an exact number of layoffs. Meanwhile, former employees are on the hunt for work. Netflix last week reported a significant subscriber loss, its first since 2011. The 26 …

SHARE

by David Cifarelli & Cecilia Levine