Word: wire
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Rivera, Louisma and Acosta face up to 30 years in prison and a $1 million fine on counts of wire fraud. Meanwhile, Rivera and Louisma face separate foreclosure proceedings that may see them losing not only their own personal property but, in Rivera's case, her business. Neither Rivera nor Louisma have entered pleas. But Louisma's lawyer Harold Long told TIME, "This was a pretty extravagant and elaborate scheme. It's really uncertain if [Louisma] knew the parameters of this thing. I think he is prepared to assume responsibility for what he did at some point in time." Acosta...
...plan unraveled within two months. Only two units were "sold," prosecutors say, and a bank wire transfer of $690,000 to an account held by Rivera led to the arrests. The bogus sale price of the homes may have been the giveaway. "Generally, where there's been the fastest price appreciation is where we've seen the greatest incidents of mortgage fraud," says John Mechem, spokesman for the Mortgage Bankers Association...
...repeatedly put him on the front line - his book opens with a long description of a brutal gun battle between two tribal militia groups in the eastern town of Bunia. It then moves to the capital, Kinshasa, where Mealer was posted by the Associated Press wire agency in 2004, and covers the bumpy transition from war to peace. After that, it's back to more fighting in the east, before Mealer embarks on two long journeys across the country, by boat and by rail. In June 2007 he finishes his travels and leaves Congo...
Thanks to Asia's construction boom, the price of copper has risen from less than $1 per pound (0.45 kg) in 2003 to more than $4 per pound in April, and burglars are lifting the metal wherever they can find it. The copper in plumbing, air conditioners, utility wire, rain gutters, sprinklers and bronze sculptures like Dan (bronze is a copper alloy) is easy to sell and tough to trace, police say, making it a popular cash source for meth addicts...
...devices used to monitor everything from clothing inventories to office ID badges. Riders use a swipe card to unlock the bikes, and if they fail to return them--or if the bikes are stolen on their watch--they'll be out $200. SmartBikes will soon be outfitted with independent wire locks so that cyclists can make pit stops wherever they want. No need to worry, though, about wheels getting pilfered. They're not quick release and are too small for regular bike frames...