Traditional Finance News: DOJ Sentences Fraudsters in $522M Scheme While UBS Forecasts Trillions in Wealth Transfer
Traditional Finance News: DOJ Sentences Fraudsters in $522M Scheme While UBS Forecasts Trillions in Wealth Transfer
The latest news highlights significant developments in traditional finance. The US Justice Department has sentenced two individuals involved in a $522 million genetic testing and illegal kickback scheme, emphasizing ongoing efforts against financial fraud. Concurrently, global banking giant UBS has released a report predicting the 'largest transfer of wealth in modern history,' with an estimated $83 trillion in private wealth set to change hands globally over the next two to three decades, impacting future economic landscapes.
Fraudsters Drain $522,000,000 From Medicare and Medicaid Through ‘Web of Sham Contracts, Lies, and Bribes’: DOJ
Two perpetrators of a fraudulent genetic testing and illegal kickback scheme that siphoned more than half a billion dollars have just been sentenced to spend time behind bars. The US Justice Department says that Reyad Salahaldeen and Mohamad Mustafa, both from Georgia, submitted over $522 million in claims for medically unnecessary genetic tests that were […]
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‘Largest Transfer of Wealth in Modern History’: $83,000,000,000,000 in Private Wealth To Change Hands Globally Over Next Two to Three Decades: UBS
Global banking behemoth UBS is saying that trillions of dollars are set to be inherited over the coming decades. In a new report, UBS says that $83 trillion in private wealth across the globe will be transferred to new beneficiaries over the coming two to three decades. According to UBS, this will mark the “largest […]
The post ‘Largest Transfer of Wealth in Modern History’: $83,000,000,000,000 in Private Wealth To Change Hands Globally Over Next Two to Three Decades: UBS appeared first on The Daily Hodl.