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Post by jeffolie on Nov 21, 2010 13:13:19 GMT -6
Your weekly ScamWatch November 21, 2010 latimesblogs.latimes.com/money_co/2010/11/your-weekly-scamwatch.htmlLifeLock — The FTC is mailing refunds to nearly 1 million people it calls "victims of allegedly false claims made by LifeLock Inc.," which told consumers it could provide absolute protection from identity theft if they paid for their services. In March, the FTC announced that LifeLock had agreed to pay $11 million to the FTC and $1 million to state attorneys general to settle allegations that it had made false claims to attract business.
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Post by graybeard on Nov 21, 2010 20:08:30 GMT -6
I've heard their ads on progressive talk radio. KTLK in SoCalif.
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Post by unlawflcombatnt on Nov 22, 2010 2:16:35 GMT -6
Your weekly ScamWatch November 21, 2010 latimesblogs.latimes.com/money_co/2010/11/your-weekly-scamwatch.htmlLifeLock — The FTC is mailing refunds to nearly 1 million people it calls "victims of allegedly false claims made by LifeLock Inc.," which told consumers it could provide absolute protection from identity theft if they paid for their services. In March, the FTC announced that LifeLock had agreed to pay $11 million to the FTC and $1 million to state attorneys general to settle allegations that it had made false claims to attract business. Why isn't the board of directors and/or the CEO being criminally charged with fraud? If a doctor did anything like this, he (or she) would be thrown in jail. Why are Corporate CEO's and management immune from the same criminal prosecution that the rest of us are subject to?
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Post by waltc on Nov 22, 2010 12:28:51 GMT -6
Why isn't the board of directors and/or the CEO being criminally charged with fraud? If a doctor did anything like this, he (or she) would be thrown in jail.
Why are Corporate CEO's and management immune from the same criminal prosecution that the rest of us are subject to
It's called the "Corporate Shield", basically a company's officers are immune from prosecution as long as the activities are done for the company. IOW your company can produce products that routinely kill people - such as defective heart valves or contaminated eggs. And it's management not be personally held liable for it.
Sure the company itself can be sued or even shut down, but its management cannot be touched.
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Post by unlawflcombatnt on Nov 22, 2010 12:50:12 GMT -6
It's called the "Corporate Shield", basically a company's officers are immune from prosecution as long as the activities are done for the company. IOW your company can produce products that routinely kill people - such as defective heart valves or contaminated eggs. And it's management not be personally held liable for it. I suspected something like that. But somehow or other, they did manage to get Ken Lay and Fastow.
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Post by waltc on Nov 22, 2010 14:18:53 GMT -6
IMS Lay was convicted on fraud and securities violation and Federally for bank fraud and lying to banks.
Fastow was convicted for being the mastermind behind the fraud.
In our current anything goes business environment I doubt either would have been charged, let alone convicted. Especially in light of the massive abuses by the banks that make Lay and Fastow look like dimestore gangsters.
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Post by whoswho on Nov 23, 2010 14:01:38 GMT -6
I still think Ken Lay faked his death. He's probably out there on a tropical island somewhere, keeping a low profile and enjoying his ill gotten gains.
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Post by jeffolie on Nov 23, 2010 14:33:50 GMT -6
In selective and limited circumstances the 'corporate shield' is allowed to be 'pierced' by courts so that the stockholders are sued directly and not protected by the existence of a corporation.
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Post by Martha on May 23, 2012 14:58:48 GMT -6
FUCK YOU LIFELOCK!
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