las-vegas-town.ipub.us http://las-vegas-town.ipub.us en-US http://blogs.law.harvard.edu/tech/rss socportals@mediacolo.com Grandma Is In A Very Hot Water First she hits the biker, then get run over by her own car, then the car rolls down and crashes another gate. Now she's the talk of the town. 71-year-old woman waits in her van for a motorcyclist to advertise at the goal, but suddenly accelerates and ends up rolling him. After the accident, the driver gets out of the car, but forgets to apply the emergency brake and causes the truck to pass over it, roll several meters and finally hit the door of another residential complex. According to the news, the woman and the messenger were injured and were referred to the Las Vegas clinic in Medellin. http://las-vegas-town.ipub.us/news/3018998-grandma-very-hot-water Sat, 19 2019 16:30:21 GMT http://las-vegas-town.ipub.us/news/3018998-grandma-very-hot-water 149 cars including Teslas and classic muscle cars were seized by the FBI in an investigation into an alleged #039;Ponzi-type#039; scheme. Now they#039;re up for auction. A collection of cars seized by the FBI in an investigation is going up for auction on Saturday, October 26. The 149-car collection includes two Teslas, eleven Plymouth Road Runners, a dozen Chevrolet Camaros, nine Dodge Challengers, and a Pontiac owned by Burt Reynolds. Victims of the alleged Ponzi scheme include Warren Buffet's Berkshire Hathaway and insurance giant Progressive. Visit Business Insider's homepage for more stories. A collection of cars seized by the FBI — including a Tesla, classic muscle cars, and a car owned by Burt Reynolds — in the investigation into allegations DC Solar ran a "Ponzi-type" scheme will be up for auction next Saturday. The 149 cars were seized from DC Solar founder Jeff Carpoff and his wife Paulette's home and business in California and Las Vegas in December 2018. The company filed for bankruptcy shortly after, the San Francisco Chronicle reported. The vehicles are being auctioned off by the United States Marshals Service and Apple Auctioneering Co., a family-owned auction company that "specializes in the liquidation of seized assets for government agencies," according to its Facebook page. Read more: See all the supercars seized from the son of an African dictator that just sold at auction for $27 million "It is rare for the U.S. Marshals to hold an auction of such a stunning collection of vehicles," Chief Deputy U.S. Marshal Lasha Boyden said in a prepared statement. The proceeds of the sale will be deposited into the USMS's seized asset account while awaiting further Court orders. Keep scrolling to learn more about the collection of cars and its history:SEE ALSO: This $8 million Lamborghini seized from an African dictator's son is the most expensive ever sold The auction includes a 2014 Tesla Model S P85D… ...this 2017 Bentley Continental GT V8 S... ...and this 1978 Pontiac Trans Am that Burt Reynolds owned as a memento of the car he drove in the 1977 film “Smokey and the Bandit.” There will also be nine Dodge Challengers up for auction, including this 1968 Dodge Challenger Super Bee. And this 1967 Ford Mustang GT500 SE- by Riley Performance M is among seven other Ford Mustangs up for sale. The FBI originally seized over 160 cars, boats, and motorcycles from the Carpoff couple, as well as millions of dollars in cash from their personal belongings and the DC Solar headquarters. The couple used the money to splurge on properties such as a Las Vegas mansion, condos in Lake Tahoe, a vacation home in Scottsdale, and cars that are now up for auction. DC Solar was accused of running an $800 million “Ponzi-type” scheme selling mobile solar generators. This 1969 Dodge Daytona will also be up for auction. Another example was auctioned off in 2015 for a record-setting $900,000. Investors included Warren Buffet’s Berkshire Hathaway conglomerate, which invested $340 million in DC Solar. “In December 2018 and during the first quarter of 2019, we learned of allegations by federal authorities of fraudulent income conduct by the sponsor of these funds,” Berkshire Hathaway stated in its quarterly report to the Securities and Exchange Commission. “As a result of our investigation into these allegations, we now believe that it is more likely than not that the income tax benefits that we recognized are not valid,” it continued. Other investors also include Progressive, Sherwin-Williams, and multiple regional banks, Bloomberg reported. Source: Bloomberg Progressive recorded a $156 million loss in the first quarter, while Southern Californian bank East West Bancorp. took a $7 million hit, the Observer reported. Source: Observer DC Solar claimed they were making money by leasing the solar generators to end-users and paying investors back with the proceeds. However, investigators said that more than 90% of the funds DC Solar claimed to be lease revenue was actually money from other investors. This made the company "appear successful, and the leases appear legitimate, when, in reality, leasing the equipment generated little income and early investors were paid from funds contributed by later investors," according to a federal complaint. The company claimed it had 12,000 generators in use. In reality, only 3,000 to 5,000 units were actually built, according to the complaint. Each unit had an up-front price of $150,000. However, federal investigators said the investors typically paid $45,000, and then claimed $45,000 in tax credits on their investments and tax deductions for its depreciation. "While we completely disagree with the FBI agent's claim that DC Solar was a Ponzi scheme and with any assertion that Jeff Carpoff acted improperly, we have been working closely with the government attorneys to provide resources to reimburse investor companies and banks to try to see that they do not suffer a loss," Malcolm Segal, the Carpoffs' attorney, said in an email to Business Insider in June. Source: Business Insider The auction will take place Saturday, October 26, in Woodland, California. http://las-vegas-town.ipub.us/news/3018709-149-cars-including-teslas-and-classic-muscle-cars-were-seize Sat, 19 2019 13:28:00 GMT http://las-vegas-town.ipub.us/news/3018709-149-cars-including-teslas-and-classic-muscle-cars-were-seize #039;Bigger than the housing bubble#039;: One market expert breaks down why the next US economic meltdown will be even worse than the last Peter Schiff, the outspoken CEO and president of Euro Pacific Capital, has a stark warning for investors who think the Federal Reserve will be able to bail out the US economy. Schiff says the Fed has lost all credibility, and that exploding debt levels and massive deficits will be too much for the dollar to handle.  He's predicting: stagflation, rising rates, and a deep recession even worse than the last. Click here for more BI Prime stories. There's no denying that the housing bubble of the 2000s was the most severe economic event to roil the world since the Great Depression. Excessive leverage, risky lending practices, and overexuberance almost brought the entire financial system to its knees. But the world was able to side-step economic disaster through emergency government and central bank action.  And although the US economy has been humming along ever since, some are convinced that the policies put in place during the recovery are going to be responsible for an even bigger collapse.  One such man is Peter Schiff, president and CEO of Euro Pacific Capital, who says the US economy is nearing judgment day. "The bubble that the Fed inflated this time is far bigger than the housing bubble," he said at The MoneyShow Las Vegas, a recent financial-markets conference. "The economic collapse that is going to follow the bursting of this bubble is going to far more dramatic." If this sounds familiar, it's because Schiff has danced this dance before. He saw the same low-rate hubris leading up to both the tech and housing bubbles — and he says the similarities to today's situation are too uncanny to ignore. In his opinion, rates were kept too low for too long, which led to excessive risk taking and eventual collapse.  Still, the Federal Reserve was waiting in the wings, waiting to mop up the ensuing economic mess that resulted, in his opinion, of their own doing. Why this time is different But this time it's different — and Schiff is quick to demonstrate his thinking. "Everybody started to believe the Fed," he said. "But the belief that the policy worked was completely predicated on the fact that is was temporary and that it was reversible — that the Fed was going to be able normalize interest rates and shrink its balance sheet back down to pre-crisis levels. " That's an important distinction. To Schiff, the Fed's policies are neither temporary nor reversible — and over time, he thinks they've proved him right. For context, the Fed's balance sheet is currently hovering around $4 trillion, nowhere near where it was pre-crisis. In fact, it's roughly $3 trillion higher. The graph below depicts the total assets held by the Federal Reserve since late 2002. What's more, the Fed's path to interest rate normalization was cut short by an unruly stock market. "They had raised interest rates to the point where the markets could no longer handle it," he said. "How high did we get? Two and a quarter? Two and a half?" He continued: "Is that normal? No! It's not even close to normal." Schiff thinks markets have been duped. These policies are seemingly here to stay — something he believes makes the Fed much less credible. And if no one trusts the Fed, no one is going to bank on them pulling the US economy out of the doldrums. "Nobody is going to believe that it's temporary," he said. "Nobody is going to believe that the Fed has this under control — that they can reverse this policy." But that's not all. He also thinks that sky-high deficits and exploding debt levels are going to make it nearly impossible for the dollar to retain it's purchasing power — and once that domino falls, he expects all hell to break loose. "The dollar is going to crash," he concluded. "And when the dollar crashes, it's going to take the bond market with it, and we're going to have stagflation, we're going to have a deep recession with rising interest rates, and this whole thing is going to come imploding down."SEE ALSO: Legendary investor Peter Borish describes how effective investing is like being a successful baseball manager — and shares his top trade for an economy wracked with record debt Join the conversation about this story » NOW WATCH: A 45-year-long study discovered trends in successful hyper-intelligent children http://las-vegas-town.ipub.us/news/3018471-039bigger-housing-bubble039-one-market-expert-breaks-down-wh Sat, 19 2019 10:05:00 GMT http://las-vegas-town.ipub.us/news/3018471-039bigger-housing-bubble039-one-market-expert-breaks-down-wh The 11 most extravagant things Floyd Mayweather has spent his millions on Retired boxer Floyd Mayweather won over $1 billion in prize money alone during his professional career, according to Forbes. From a $25 million mansion to $1,000 haircuts, he knows how to spend it, too. Here are the 11 most extravagant things he ever spent the money on.  Visit Business Insider's homepage for more stories. Retired boxer Floyd Mayweather won over $1 billion in prize money alone during his 21 year professional career, according to Forbes. Add that to a variety of sponsorships, including Burger King, Hublot, and FanDuel, as well as the income from his own companies such as Mayweather Promotions and The Money Team, and it's fair to say the 42-year-old has earned more than a fair living. Read more: Floyd Mayweather reportedly tipped the chefs in the kitchen of a Las Vegas restaurant $300 each because he liked the food so much As much as Mayweather knows how to earn money, however, he also knows how to spend it. Amongst his lavish purchases over the years are a $25 million Los Angeles mansion, numerous private jets, and his own strip club — but these aren't even the wackiest, most expensive things the retired fighter has ever paid for. Here are the 11 most ludicrous things Mayweather has ever spent his millions on. SEE ALSO: Floyd Mayweather's $25 million Los Angeles mansion has a candy shop, a 12-seat cinema, and a wine rack with 225 bottles — take a look inside A $50,000 diamond iPod case. Instagram Embed: //instagram.com/p/aSONJHR3R_/embed Width: 540px Mayweather loves his music, so much so that he splashed $50,000 on this bejeweled iPod case back in 2010, according to Bleacher Report. It even had a chain in case he loses it — not that he couldn't afford another one.  An $18 million watch called "The Billionaire." Instagram Embed: //instagram.com/p/BkiDdW-g0oi/embed Width: 540px Designed by Jacob Co, 280-carat diamond watch "The Billionaire" is the only watch of its kind in the world, and is made up of 167 different components, according to Forbes. A candy shop in his own house. Instagram Embed: //instagram.com/p/BZQtXYKg1nQ/embed Width: 540px No playboy mansion is complete without a home cinema, but Mayweather took it took the next level at his $25 million LA Mansion, adding in a self-serve candy shop. 50 Cent would be proud.  $605,000 on tickets to his own fight. Instagram Embed: //instagram.com/p/BrlcbsEh5fe/embed Width: 540px   Mayweather paid $605,000 to have his friends ringside at the MGM Grand, Las Vegas when he beat Canelo Alvarez in September 2013. This is a small sum, however, considering his purse for the fight was $41.5 million.  A $220,000 bet on a college football game. Back in 2013 when Johnny Manziel was still playing football at college, Mayweather placed a $220,000 bet on his team Texas AM covering a 17.5-point first-half spread, according to The Washington Post. The bet came in, and Mayweather doubled his money.  A $4.7 million ultra-rare supercar... Instagram Embed: //instagram.com/p/6ta0ARx3W2/embed Width: 540px   Purchased in 2015, Mayweather's Koenigsegg CCXR Trevita is one of only two of its kind in the world, and boasts a top speed of over 409kph (254 mph). ... And a $20,000 Bentley golf cart for good measure. Instagram Embed: //instagram.com/p/vaeJIeR3SA/embed Width: 540px   This one was for his 15-year-old son, Koraun, which The Wall Street Journal reports to have cost him $20,000.  New underwear and sneakers every day. Instagram Embed: //instagram.com/p/BA5u2AQR3Vt/embed Width: 540px   Rather than wash his underwear like a normal person, Mayweather wears a new pair every single time he changes, which is estimated to cost him around $6,500 per year, according to The Richest. He does the same with sneakers, wearing them only once before disposing of them.  $,1000 for every meal from his personal chef... Instagram Embed: //instagram.com/p/B3vjOL2JZKL/embed Width: 540px   Quiana Jeffries, Mayweather's personal chef, must cook some really good food, as according to Esquire, he pays her $1,000 per meal she cooks for him. He's also said to keep her on retainer 24 hours a day.  ...And the same for a trim from his barber. Instagram Embed: //instagram.com/p/B2wcEQ6ALy2/embed Width: 540px   Mayweather's barber Jackie Starr can't be half bad either, as he pays the same amount for a haircut as he does a meal.  "It's $1,000 per cut," Starr told TMZ in 2016. And finally, a $5.3 million spending spree at a Beverly Hills jewellery store. Instagram Embed: //instagram.com/p/Bmgc1ynlYH-/embed Width: 540px   Last year, TMZ reported that Mayweather spent $5.3 million on jewellery alone during a lavish spending spree at Peter Marco in Beverly Hills.  His purchases included a $2.3 million VVS ring, a $2.5 million diamond bracelet, and a 2-pound yellow gold Cuban necklace.  http://las-vegas-town.ipub.us/news/3018413-11-most-extravagant-things-floyd-mayweather-has-spent-his-mi Sat, 19 2019 08:16:00 GMT http://las-vegas-town.ipub.us/news/3018413-11-most-extravagant-things-floyd-mayweather-has-spent-his-mi Lady Gaga falls off stage in fan#039;s arms at Las Vegas Enigma show Videos posted to Twitter show the fan fell right on top of Lady Gaga as shocked concertgoers screamed in distress. http://las-vegas-town.ipub.us/news/3018052-lady-gaga-falls-stage-fan039s-arms-las-vegas-enigma-show Fri, 18 2019 14:06:00 GMT http://las-vegas-town.ipub.us/news/3018052-lady-gaga-falls-stage-fan039s-arms-las-vegas-enigma-show Lady Gaga#039;s spectacular fall off stage at Las Vegas show caught on camera by front row fan American singer Lady Gaga's spectacular fall off stage at her Las Vegas show is caught on camera by a fan in the front row. Lady Gaga is being carried by a fan before he takes a few steps back and tumbles off the stage with the superstar in his arms. As the pair fall off down a chorus of gasps and concerned remarks can be heard from the nearby crowd who witnessed the mishap on October 17. The singer took to Instagram, posting a picture of herself in an ice bath recovering from her show. http://las-vegas-town.ipub.us/news/3017780-lady-gaga039s-spectacular-fall-stage-las-vegas-show-caught-c Fri, 18 2019 19:42:09 GMT http://las-vegas-town.ipub.us/news/3017780-lady-gaga039s-spectacular-fall-stage-las-vegas-show-caught-c The World’s Best Hotel Designers Honored With 2019 Gold Key Awards From Bangkok to Las Vegas these are the finalists for a Gold Key Award recognizing the most influential and innovative design work in the international hospitality industry. http://las-vegas-town.ipub.us/news/3016993-worlds-best-hotel-designers-honored-2019-gold-key-awards Fri, 18 2019 15:05:06 GMT http://las-vegas-town.ipub.us/news/3016993-worlds-best-hotel-designers-honored-2019-gold-key-awards Lady Gaga falls off Las Vegas concert stage Lady Gaga startled her fans in Las Vegas on Thursday night by taking a tumble off the stage during her performance. http://las-vegas-town.ipub.us/news/3016357-lady-gaga-falls-las-vegas-concert-stage Fri, 18 2019 10:23:23 GMT http://las-vegas-town.ipub.us/news/3016357-lady-gaga-falls-las-vegas-concert-stage Lady Gaga Laughs Off Frightening Stage Fall With Fan "We fell into each other’s arms," the pop star later joked about the tumble during her "Enigma" residency in Las Vegas. http://las-vegas-town.ipub.us/news/3016312-lady-gaga-laughs-frightening-stage-fall-fan Fri, 18 2019 09:09:28 GMT http://las-vegas-town.ipub.us/news/3016312-lady-gaga-laughs-frightening-stage-fall-fan Lady Gaga plummets off stage in a fan#039;s arms during Vegas show The star falls off stage during her Las Vegas show after jumping into a fan's arms. http://las-vegas-town.ipub.us/news/3016287-lady-gaga-plummets-stage-fan039s-arms-during-vegas-show Fri, 18 2019 08:49:26 GMT http://las-vegas-town.ipub.us/news/3016287-lady-gaga-plummets-stage-fan039s-arms-during-vegas-show