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23 votes
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Why is PayPal blocking my account according to U.S. tax law, if I've a UK account only?

The reason that you are being asked to comply with a US law is because PayPal, a US company, is required to comply with US laws. If you do not comply, it is likely that they will be non-compliant and ...
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20 votes
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Do Donald Trump's actions constitute embezzlement?

Embezzlement is criminally prohibited by 18 USC 666, and this DoJ manual page on what is embezzlement cites the answer in Moore v. United States, 160 U.S. 268 that Embezzlement is the fraudulent ...
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19 votes
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What can happen if the US President has violated campaign finance laws?

Let's start with the most important point first: A campaign finance violation is not a ground to remove an elected official from office, no matter how egregious, on its own, even if one could prove ...
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14 votes
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Student Loan from years ago pops up and is taking my salary

Defaulting on student loans is—along with back taxes and child support—one of the three cases where a court order is not required for wage garnishment. This article spells out remedies against such ...
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  • 160k
12 votes

Is it a crime to take out a loan with no intention to repay?

If, at the time of application for the loan, the borrower has no intention of repaying, it appears that it is a crime. From California Penal Code section 532: (a) Every person who knowingly and ...
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11 votes
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Can Trump legally sell stocks on Friday, tweet about imposing tariffs on Sunday and then buy more of the stocks back on Monday?

There is no statutory definition of insider trading, and the question of who is included is answered by the SEC. It includes "Government employees who traded based on confidential information they ...
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11 votes
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Is transfer pricing legal in the United States?

Transfer pricing is something that is required when related parties provide good or services to each other, in order to determine what part of the profit from the eventual sale of the goods or ...
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  • 134k
10 votes

Is it legal for a bank to discriminate against someone by the services they offer based upon their marital status?

Your bank is not discriminating against you. Your reasons for not having the required amount of funds pass thru your account has nothing to do with your marital status. In general, it's problematic ...
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10 votes
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Executive order by Trump on 2020-11-12 barring investment in publicly traded companies that the US says are owned/controlled by the Chinese military

The order itself is here. It applies to "any United States person", which includes citizens, LPRs, entities with a US basis, and any other person in the US including tourists. It applies to ...
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  • 160k
10 votes

Do Donald Trump's actions constitute embezzlement?

Embezzlement is the action of an employee who, having access to or control over funds or things of value as a part of employment, improperly takes or gains possession of them, or converts them to ...
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9 votes

Why don't US prosecutors press for imprisonment for crime in the banking industry?

Q: Why don't US prosecutors press for imprisonment for crime in the banking industry? Q. Why aren't US prosecutors (and UK prosecutors for that matter) not pressing for imprisonment in such ...
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  • 134k
9 votes
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Why is a company allowed to change the number of shares it’s divided into after its IPO?

There are two different kinds of transactions that are implicated by your question. The first is a stock stock split. This simply turns 1 share into X shares and trades out existing shares for new ...
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  • 134k
8 votes

Why do VISA and MasterCard comply with U.S. sanctions that erode their business?

Visa is incorporated in Delaware. So is MasterCard. In addition, both are headquartered in the US, have huge quantities of assets in the US, do lots and lots of business in the US in a highly ...
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8 votes
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Insider trading due to mis-sent email?

First of all, this is not insider trading: insider trading is using non-public information to trade a publicly tradable security. What this could be is misuse of confidential information - a civil ...
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  • 151k
7 votes

How are MMOs with real money economies allowed to operate?

I can see at least two defenses. Game of Skill Defense. Already mentioned in the comments. Entertainment Defense. One could claim the game itself is a form of entertainment and, therefore, all funds ...
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7 votes
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Can US student loans be inherited by children or parents?

I will assume for this question you are referring to a US Department of Education backed loan. In that case, according to the US DoE website: If you, the borrower, die, then your federal student ...
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  • 1,994
7 votes

Are universities legally allowed to adjust, or deny private loans?

Student loans work very differently than any other ordinary loan you could take out. They have explicit restrictions that limit what kinds of things you can use them for, including your tuition, books ...
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  • 4,185
7 votes

What was wrong with the 2010 Flash Crash?

I imagine it's not a crime to change your mind before the order goes through, but that's not really what this guy did. The allegation is instead that he never intended to follow through on those ...
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7 votes

What was wrong with the 2010 Flash Crash?

The criminal complaint against Sarao can be found on the US Department of Justice's website. He was charged under four different sections of US Code: 18 USC 1343, which prohibits the use of inter-...
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6 votes
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Is it illegal for Donald Trump to lie on his Financial Disclosures?

Page 1 of OGE form 278e says WARNINGS Knowing and willful falsification of information, or failure to file or report information required to be reported by section 102 of the Ethics in ...
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  • 160k
6 votes

Could Trump bet on winning the presidential election?

It depends on the rules of the particular betting market and the laws under which it operates. Assuming that the bet itself is legal, it is not uncommon that participants in the contest are not ...
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  • 151k
6 votes

What can happen if the US President has violated campaign finance laws?

Technical violations can result in fine imposed by the Federal Election Commission. They provide this booklet, and these regulations are applicable. This regulation spells out how the fine is computed....
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  • 160k
6 votes
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Is it illegal to purchase stocks with money that came from a Brinks truck?

This is a rather elaborate version of receiving stolen property. It is a crime because you know that the property is not yours and you know who it belongs to. The fact that funds were returned ...
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  • 134k
6 votes
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Do you owe money to a company who is trying to charge a disabled/expired credit card?

You owe money if there is a contract obliging you to pay. Whether you receive what you pay for (e.g. services) only affects your stance when suing for non-performance/damages; your obligation to pay ...
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  • 20.1k
6 votes
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If I discover information about a company through personal investigation can I act on it without being guilty of insider trading?

This is not insider trading To be an insider in the USA you must be a company officer, director or a beneficial owner of more than 10% of a class of the company's equity securities. You aren’t any of ...
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  • 151k
6 votes

Is transfer pricing legal in the United States?

Transfer pricing is of course legal: when an asset is transferred from one entity to another, there is a price. However, transfers between subsidiaries or other related companies in different tax ...
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6 votes

Is it legal for a college to ask for a 12-month financial history?

It is legal, unless the laws of that state say otherwise. Governments are allowed to charge different tuitions to residents vs. non-residents. They can also require proof of residence (not just your ...
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  • 160k
5 votes

Do I have any options if Chase has closed my account citing payment from fraudulent sources?

Both of your question are creatures of contract. Their disclosures when you set up the account (or potentially amended disclosures or terms they've mailed to you subsequently) control both of these ...
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  • 10.9k
5 votes

Employer Won't Release 401k

This sounds like a really bad communication issue. I would contact the company to find out what is up and inform them politely that they have been given more than a "reasonable" time to release the ...
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  • 1,359
5 votes
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Someone withdrew money from my bank account - what are my rights?

I reported this to my bank as soon as I found out, and Chase said that the money would be reimbursed once they completed their investigation (within 10 business days). Chase was likely indicating ...
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