Money Matters - Simplified


Megaupload reborns as Mega !

Megaupload founder KimDotCom has confirmed working on a new file-sharing site called Mega that he intends to make raid proof!

China arrests over 3000 for piracy

Do you love that cheap Chinese iPod? Well, you ought to know that it is an illegal product, and China is now coming down hard on the people and companies that whip out cheap fakes of popular branded products.

Bank of America Bans WikiLeaks Transactions

Bank of America (NYSE: BAC) has banned transactions to whistle-blower site WikiLeaks since Friday, according to media reports. The Obama Administration earlier urged financial organizations to sever ties with the site for illegally releasing confidential US diplomatic cables. 

Broncos fire Coach Josh McDaniels

Denver -- The Denver Broncos have fired Coach Josh McDaniels in the wake of an illegal taping scandal, the team's Web site reported Monday. said team owner Pat Bowlen had relieved McDaniels of his duties after guiding the squad to a 3-9 record so far this season.

The move came after the Broncos lost Sunday for seventh time in eight games, 10-6 to the Kansas City Chiefs, and also follows an incident in which both McDaniels and the team paid $50,000 fines last month for the illegal taping of an opponent's practice.

Broncos coach McDaniels fined for taping

Denver -- The NFL has fined Denver Broncos head Coach Josh McDaniels in connection with the illegal taping of an opponent's practice, multiple sources reported Saturday., ESPN and The Denver Post reported McDaniels was fined $50,000 and the Broncos were also assessed a $50,000 penalty in the incident, for which McDaniels and Broncos President and CEO Pat Bowlen issued apologies Saturday.

Bowlen said the league found a Broncos employee had videotaped a portion of the San Francisco 49ers' Oct. 30 'walkthrough' practice at Wembley Stadium in London, a day before the two teams played each other there.

In his statement, McDaniels claimed he did not view the 6-minute tape.

City mulls fate of illegal stop signs

Providence, R.I. -- Officials in Providence, R.I., are weighing options to deal with 692 municipal stop signs recently discovered to be illegal.

Providence officials recently discovered 692 of the nearly 2,600 stop signs in the city were installed without approval from the City Council or the city traffic engineer, and a recent ordinance to legalize all of the signs failed by a 5-4 vote, The Providence Journal reported Wednesday.

Councilman Mario Aceto said several stop-sign violation tickets have been dismissed by the Municipal Court because the signs were not on the city's code book.

Guilty plea in illegal sports drug case

Providence, R.I. -- A Chinese drug manufacturer and its chief executive officer pleaded guilty in a U.S. court to illegally marketing a muscle-building drug in the United States.

Lawyers entered pleas Wednesday in U.S. District Court in Providence, R.I., on behalf of the firm, GeneScience Pharmaceutical, and its founder Lei Jin, the Providence Journal reported.

GeneScience was once considered to be a major source of illegally imported human growth hormone to the United States, the newspaper said.

Assistant U.S. Attorney Adi Goldstein said Jin and his company used the Internet to market the drug, sold under the brand name Jintropin, to people throughout the United States.

Wildcat mining a world danger, experts say

University Park, Pa. -- The mining accident in Chile that has trapped 33 miners underground has drawn attention to the worldwide problem of wildcat, or illegal, mining, experts say.

The U.S. Geological Survey's Mineral Resources Program says illegal mines and mining practices happen around the world, including in the United States, but they are particularly prevalent in China, India, Indonesia and parts of Africa, reported Wednesday.

Explosions and tunnel collapses can happen even when regulated companies with vast experience and resources are mining, Phil Smith, director of communications for the United Mine Workers of America, said.

Brazilian group sues over shark killings

Brasilia, Brazil -- Asia's insatiable demand for shark fin soup has led to the illegal killing of nearly 300,000 sharks off Brazil, an environmental group alleges.

The Environmental Justice Institute in Brazil has accused a seafood exporter, Siglo do Brasil Comercio, of illegally killing sharks and is suing for what it calls massive damage to the marine ecosystem, the BBC reported Tuesday.

The group is suing the company for $790 million in damages for its alleged sale of 290,000 sharks since 2009.

Many of the sharks were thrown back into the sea after their fins were taken for clandestine export, the group charges.

"As we can't put a value on life, we have calculated the impact on the ecosystem," group director Cristiano Pacheco said.

Illegal logging declines around the world

London -- Illegal logging has seen a dramatic decline in the last decade, benefiting forest-dependent communities and global climate, a British report says.

Total global production of illegal timber in tropical forest nations has fallen by 22 percent since 2002, a report by the Royal Institute of International Affairs said Thursday.

"Up to a billion of the world's poorest people are dependent on forests, and reductions in illegal logging are helping to protect their livelihoods," Institute Associate Fellow Sam Lawson said i London.

Illegal logging dropped by 50 percent in Cameroon, by between 50 percent and 75 percent in the Brazilian Amazon, and by 75 percent in Indonesia in the last decade, the report said.