The IRE Resource Center is a major research library containing more than 23,250 investigative stories — both print and broadcast. These stories are searchable online or by contacting the Resource Center directly (573-882-3364 or rescntr@ire.org) where a researcher can help you pinpoint what you need. Browse or search the tipsheet section of our library below. Stories are not available for download but can be easily ordered by contacting the Resource Center:
Search results for "investment deals" ...
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Boom for McMillin, Bust for City
"A four-month investigation into the redevelopment of a 235-acre Navy boot camp in the heart of San Diego revealed a lopsided deal that put cash in the pockets of developer Corky McMillin Cos. executives and left taxpayers footing the bill. The City of San Diego probably won't see any money from a promised 50-50 profits split, the investigation showed."
Tags: development; investments; land acquisitions; redevelopment; insider deal; contract; real estate; homeowners;
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Rep. Weller's Land Deal
Illinois Rep. Jerry Weller failed to disclose the extent and the true cost of his property investments in San Juan del Sur, Nicaragua, an apparent violation of House ethics rules. Weller's misstatements about his real estate activity were particularly extensive in 2005, when he served as a key Congressional advocate of the Central American Free Trade Agreement.
Tags: federal government; foreign investments; CAFTA; South America; real estate
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Baker Resigns
"The series documents the fall of a once-promising local politician, Long Beach City Councilman Dan Baker, who chose to end his career after the Press-Telegram reported that he had entered into a $7.5 million investment deal with the head of the city's police union."
Tags: real estate; conflict of interest; partnership; Steve James; Ray Grabinski
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Rise and Fall
Spurred by real estate mogul Solomon Dwek bouncing a $25 million check at a drive-through bank window, the Asbury Park Press investigates Dwek's dealings, and finds that his business may not be as financially stable as it is presented to be. The Press found that Dwek committed mortgage fraud, as forensic experts analyzed signatures on land records, and said Dwek "likely signed the names of other people to $9 million in loans he obtained." His wife had mortgages on three properties she did not own. Dwek, who was arrested by the FBI in the wake of the bounced check, was also found to have received $179 million in loans and investments from banks, mortgage lenders and investors.
Tags: Solomon Dwek; mortgage fraud; false bank loans; federal bank fraud; real estate
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Lease-to-own Mogul
A series of articles showing that a Florida business man, whose financial and real estate empire was purposely obscured, defrauded hundreds of hopeful home buyers by refusing to sell them houses leased to them under rent-to-own contracts.
Tags: real estate; Rod Khleif; rent-to-own; fraud; land deals; investment; FOIA; Better Business Bureau
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Dubai's Financial Centre Troubled by Insider Deals
"Dubai, an important U.S. ally in the Middle East, promised to tighten lax financial rules that allowed the 9/11 terrorists to launder their money there. Prompted partly by this promise, many large banks, including some in the United States, formally expressed their interest in investing in the new Dubai International Financial Centre, designed to diversify the country's oil-based economy. However, Simeon Kerr's investigation revealed that the Centre's chairman, and by extension its CEO, and a board member were involved in questionable inside property and construction deals that besmirched the Centre's reputation."
Tags: contracts; money laundering; Sept. 11; banking; investment; finance
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Money Players
This story deals with NFL players paying a hefty price for allowing people to manage their money. U.S. News examined more than 20 investment deals involving current and former NFL players and found many victims. In exclusive interviews with the magazine, the players described how they were allegedly defrauded. An example includes Buffalo Bills cornerback Antoine Winfield, who was bilked of $1.35 million by a close friend and financial adviser. Other examples illuminate the sometimes tawdry world of player recruitment.
Tags: investment adviser; Tampa Bay Buccaneers; NFL players; Securities and Exchange Commission; investment deals; defraud; Buffalo Bills; Donald Lukens; player recruitment; FBI; money laundering; National Football League Players Association; Cincinnati Bengals; Los Angeles Rams; Carolina Panthers; St. Louis Rams; Baltimore Ravens; San Diego Chargers; Global Sports and Entertainment; Denver Broncos; National Association of Securities Dealers
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Trade Secrets
California set up foreign-trade offices around the world to boost the state's exports and lure investors from other countries. However, documents obtained by the Register showed the trade offices repeatedly made false and overblown claims about the business deals they said they were instrumental in landing. In their last annual report, the offices took credit-at least 31 times on deals totaling $4.2 million-for export or investment deals in which they played little or no role. Six times, they took credit for deals that, in reality, did not happen. Officials in the state agency that had oversight responsibility for the offices said they never checked the accuracy of the offices' claims and believed they had no reason to.
Tags: commerce; trade offices; annual report; California Legislature; California Technology Trade and Commerce Agency; California Assembly; California Senate; brokerage; toxic-cleanup; Gigante USA; South Africa; Tokyo; Taiwan; Singapore; Tri-C Manufacturing; exports; Onlyone Products Inc.; H/A International; United Food and Commercial Workers union; U.S. Department of Commerce; California Bureau of State Audits; Department of Finance; private enterprise
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Taken for a Ride
This story is about how non-profits sold clunker cars to welfare recipients while used-car dealers reaped millions. The non-profit Wheels-to-Work program managers set up exclusive deals with friends who sold used cars to the program. The state spent $10,700 per person, but bought cars that cost $2,300 on average, and twice as much as programs in other states. State officials didn't start to monitor the program until two years after it started, and overlooked suspected fraud and mismanagement.
Tags: car; nonprofit; welfare; welfare recipients; used-car dealers; West Virginia Department of Health and Human Resources; Wheels-to-Work Program; Community Action of South Eastern West Virginia; CASE; Belcher's Auto Sales; Temporary Assistance for Needy Families program; National Association of Social Workers; AFL-CIO; Human Resources Development Foundation; Good News Mountaineer Garage; DHHR; Legislative Oversight commission on Workforce Investment
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"Caution ahead"
The story deals with the question of being cautious when dealing with investment advisers. Emshwiller says: "[...] the number of novice investors [...] has never been greater. And the fact that they know little makes them the ideal targets for scams." Although there are rules saying investment advisers must be registered, there are many people who work as such without registration. In this respect, the Securities and Exchange Commission and the states "try to catch wrongdoing by auditing investment advisers." Emshwiller adds the ideal thing to do id to interview at least two candidates when choosing a financial adviser, and not to rely on old friendships or word-of-mouth.
Tags: North American Securities Administrators Association (NASAA); American Association of Retired Persons; Securities and Exchange Commission; California Department of Corporations; Social Security