The FBI Accuses Hedge Funds Of Money Laundering, Gov. Cuomo Issues Summons But Didn’t Kill Any New Old People And Covid’s Back And Becoming A Big Pain In the A$$

The FBI Accuses Hedge Funds Of Money Laundering, Gov. Cuomo Issues Summons But Didn’t Kill Any New Old People And Covid’s Back And Becoming A Big Pain In the A$$


By Jack Kelly

The U.S. Federal Bureau of Investigation (FBI) believes, according to Reuters, that the $10-trillion hedge fund, private equity and alternative asset management funds space is being used to launder money at scale.

This shouldn’t come as a surprise to compliance and legal professionals, as regulations have been placed on the back burner in President Donald Trump’s administration. When running for office, he was a strident opponent of rules and regulations claiming that they interfered with business interests. 

A leaked intelligence report that Reuters obtained claimed that the securities industry lacks adequate anti-money laundering programs and called for greater scrutiny by regulators. The report asserts that “threat actors”—including criminals in it for the money and foreign adversaries—“use the private placement of funds, including investments offered by hedge funds and private equity firms” to launder money.  

Speaking of ripping people off, New York City imposes $2,000 fine for noncompliant out-of-state travelers who may be laundering the coronavirus.

Governor Andrew Cuomo (D-NY) issued an “emergency health order” Monday indicating that visitors from 19 states—nearly half of the country—must provide their contact information upon arrival to New York. He warned that failure to comply will result in a $2,000 summons and said in a tweet, “We’re serious about enforcing quarantine.” 

Too bad he didn’t have the same vigor in looking after old folks in New York City nursing homes. These poor people, who were supposed to be looked after, were ignored. Thousands got sick and died. Not even a token summons was made. 

The New York Times reported, “The death toll inside New York’s nursing homes is perhaps one of the most tragic facets of the coronavirus pandemic: More than 6,400 residents have died in the state’s nursing homes and long-term care facilities, representing more than one-tenth of the reported deaths in such facilities across the country.”

Maybe Cuomo should summon Mayor de Blasio over his lack of leadership and allowing an exponential increase in gun violence and the shooting death of a one-year-old baby to occur.

As Covid-19 is making a resurgence, we’re all taking a giant step back. California Governor Gavin Newsom ordered the re-closing of indoor restaurants, bars and movie theaters. There’s concern that many other states will follow along and restart the shutdowns all over again.

Apple is once again shuttering a number of its stores in states where coronavirus cases are on the rise. Apple’s Silicon Valley headquarters reopened to only a “very limited” number of employees. Google workers will have to wait until at least Sept. 7 to begin a “cautious” return to the office, with expectation that most of its employees will continue to work-from-home for the remainder of 2020. Citigroup is pulling back on plans to bring back some office workers in 13 states, including Texas and Florida, as cases rise.  

 It’s interesting, according to LinkedIn, hiring is still happening despite the ongoing economic downturn. However, the jobs that they list don’t include much, if any, white-collar roles. This is especially curious since LinkedIn caters primarily to professionals-level roles. This sign does not bode well for the higher-paid office workers.

  • Instacart says it’s looking to hire 300,000 contract workers.
  • McDonald’s says it’s hiring about 260,000 people this summer.
  • Amazon says it’s looking to hire 175,000 new workers for its fulfillment centers and delivery network.
  • Albertsons is hiring 50,000 people across its companies for open roles.
  • CVS Health is hiring 50,000 employees to serve in various capacities across its business.
  • Walmart is hiring 50,000 workers for its distribution and fulfillment centers.
  • Dollar General says it’s looking to add 50,000 employees to meet increased customer demand.
  • FedEx is hiring 35,000 people for essential roles.
  • Allied Universal is hiring more than 30,000 people for open positions.
  • Taco Bell is hiring 30,000 people to work at its restaurants.
  • Pizza Hut is hiring 30,000 permanent employees to serve as drivers, shift leaders, cooks and managers.
  • Ace Hardware is hiring 30,000 people to work in its stores nationwide.
  • Lowe’s is hiring 30,000 employees to meet the demand created by the coronavirus.
  • Dunkin’ Donuts plans to hire 25,000 new employees.
  • Dollar Tree, which is also the parent company of Family Dollar, is hiring 25,000 workers for its stores and distribution centers.
  • Walgreens is hiring 25,000 employees for permanent and temporary roles.
  • The Home Depot is hiring people for more than 22,000 jobs.
  • Instawork is hiring 20,000 workers over the next two months.
  • Papa John’s is hiring 20,000 workers to meet demand.
  • 7-Eleven is hiring up to 20,000 employees due to increased demand.
  • Kroger is looking to hire an additional 20,000 workers across the U.S.
  • AutoZone plans to hire 17,000 people over the next three months.

Forbes reports that “after sending at least $1.4 billion in federal stimulus money—more than one million checks—in error to the deceased, the IRS and Treasury Department announced that it is cancelling all outstanding stimulus checks made out to those who have died.”

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