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Log In / Register | Apr 20, 2014

Fraudster Instant Tax Service Turns into Great Tax LLC

Instant Tax Service sign in an American Midwest city. Photo by Blue MauMau
Instant Tax Service sign. Photo by BMM

DAYTON, Ohio – A district judge ruled that the evidence of fraud and deception perpetrated by Instant Tax Services CEO Fesum Ogbazion was so overwhelming that he and his company were permanently barred from the tax-return preparation business. He said his order "is necessary to protect the public and the Treasury."

The Great Conflict of Protecting Markets or Franchisees

We are recovering from a crisis of market collapse caused in major part by abuse on the part of banks and investment houses. From mortgage backed securities where the mortgage portfolio was of extremely low quality to derivatives called credit default swaps, the Federal Reserve and the SEC enforcement division were asleep at the switch – called deregulation – and everything hit the fan.

Cold Stone Owners Sue Attorney for Dual Representation

White Plains New York Courthouse
White Plains, New York federal courthouse

WHITE PLAINS, N.Y. – At the heart of a lawsuit brought by bankrupted franchisees against Cold Stone Creamery and their own legal counsel is conflict of interest. Franchisee store owners claim the attorney who represented them in negotiating their lease agreement did not disclose that he also represented franchisor Cold Stone.

Franchisee Renewal Rates: Here We Go Again!

IFA President Steve Caldeira recently wrote a letter to the Wall Street Journal complaining that a recent article about the perils of franchising “ignores that more than 90% of franchisees renew their contracts with their franchisers at the end of their terms.”  The obvious claim is that more than 90% of franchisees are successful and happy. 

How to Spot a Liar

Investing hundreds of thousands in a business? That's a lot of incentive for a seller to be dishonest.

Franchisor Firehouse Subs Commits Fraud, Rules Federal Court

Firehouse Subs loses trademark ruling, court says company committed fraud

image/bmm

A federal judge refused to disturb a jury verdict holding that Firehouse Subs had committed fraud to obtain the "Firehouse" trademark.

Liar Loans Pt 4: SBA Franchise Lenders Hit

franchisees, tax payers and investors feed bankersLEXINGTON, Ky. —Franchisees aren't the only ones who have been hurt by bad SBA liar loans backed by tax payer dollars. 

Cendant Founder Can't Prove Genius

Henry Silverman may be a genius, he just can't prove it in a New York court.

Court Rules Holiday Inn Commits 'Reprehensible' Fraud

Holiday Inn, West Memphis front desk

Front desk of a West Memphis, Arkansas Holiday Inn. photo/ihl

MARION, Ark.-- Kemmons Wilson must be spinning in his grave. The founder of the Holiday Inn chain was friends with J.O. "Buddy" House. 

Medicaid Fraud Buys Curves & Subway Franchises

An Indiana woman was caught by her own application to buy a Subway Sandwich shop.