Readers Digest going bankrupt!
Wednesday, 19 August 2009
From Fazle Rashid
NEW YORK, Aug 18: The US Justice Department, in what is being called the largest case of computer crime and identity theft, has indicted Albert Gonzales and two other unnamed Russian conspirators of having indulged in fraud by making use of 130 million credit and debit cards from 2006 to 2008.
An unspecified portion of the stolen credit cards were then sold online, some were used to make unauthorised purchases and withdrawals from banks, the New York Times (NYT) reported today.
Gonzales and accomplices reviewed the list of the Fortune 500 companies to pick up their targets. In another case of swindle, a former Credit Suisse broker was convicted for fraudulently selling risky auction-rate securities in one of the first criminal prosecutions to emerge from the two year long credit crisis.
Readers Digest (RD) has always been a delight for the intellectuals. This magazine was must for millions of readers worldwide. The magazine has a big readership in Bangladesh as well. The magazine announced plans for seeking voluntary bankruptcy as it became the latest victim of the advertising recession. Reader's Digest has a combined global readership of 130 million people in 78 countries.
The RD has been hit hard by changing reading habits, advertising recession. Its revenue fell 18.4 per cent last year.
NEW YORK, Aug 18: The US Justice Department, in what is being called the largest case of computer crime and identity theft, has indicted Albert Gonzales and two other unnamed Russian conspirators of having indulged in fraud by making use of 130 million credit and debit cards from 2006 to 2008.
An unspecified portion of the stolen credit cards were then sold online, some were used to make unauthorised purchases and withdrawals from banks, the New York Times (NYT) reported today.
Gonzales and accomplices reviewed the list of the Fortune 500 companies to pick up their targets. In another case of swindle, a former Credit Suisse broker was convicted for fraudulently selling risky auction-rate securities in one of the first criminal prosecutions to emerge from the two year long credit crisis.
Readers Digest (RD) has always been a delight for the intellectuals. This magazine was must for millions of readers worldwide. The magazine has a big readership in Bangladesh as well. The magazine announced plans for seeking voluntary bankruptcy as it became the latest victim of the advertising recession. Reader's Digest has a combined global readership of 130 million people in 78 countries.
The RD has been hit hard by changing reading habits, advertising recession. Its revenue fell 18.4 per cent last year.