Sunday, August 21, 2011

Breakfast Brief

Try not to gorge yourself:

"US prosecutors detail food stamp fraud" August 20, 2011

A former 7-Eleven franchisee in Rhode Island has been accused of taking food stamp benefits for cash at his Providence convenience store. A complaint unsealed yesterday in US District Court in Providence says Syed Shah, 43, charged customers about $30 to $40 in food stamps for every $50 they sought in cash. The complaint does not disclose how much investigators believe Shah fraudulently pocketed in food stamp benefits. Investigators say food stamp redemptions at his store rose from $228,000 in 2008 to nearly $1 million last year. Court filings show Shah was released on unsecured bond. He is charged with conspiracy to acquire and possess supplemental nutrition assistance program benefits (AP)."

Not that I approve of any fraud against taxpayers; however, this is what US prosecutors are chasing while NOT ONE Wall Street executive has been arrested, let alone charged, with fraud for their massive mortgage securities swindle that has destroyed the world economy. 

Yeah, I have kind of lost my appetite for the Boston Globe.