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Headline USA New York

Trader Joe’s continues expansion in New York: to open supermarket in Harlem | The State

The chain was born in 1958

Photo:
Joe Raedle / Getty Images

Trader Joe’s will open its next NYC grocery store in Harlem, in what will be its first location in Upper Manhattan and its 13th location across the city.

The 28,000-square-foot store will be located at 121 West 125th Street, between Adam Clayton Powell Jr. Boulevard and Lenox Avenue, and will be integrated into the upcoming Urban League Empowerment Center.

That 17-story building is scheduled to open in 2023 and will also have a new Target store, the Urban Civil Rights Experience Museum, the new headquarters of the National Urban League, office space and 170 units of affordable housing for low-income New Yorkers.

The new Trader Joe’s and Target stores will be across the street from a shopping complex that includes Whole Foods and Burlington Coat Factory, opened just over three years ago, in the summer of 2017, he noted. Pix11.

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Headline USA New York

Why Trader Joe’s Recalls Over 4,400 Pounds of Frozen Fish From Its Stores | The NY Journal



Trader Joe’s is recalling gluten-free battered halibut fish from its stores after it was found to contain wheat and milk, ingredients that are not mentioned on the packaging.

The popular grocery store said it will recall packages with product code 537312620. The affected product from supplier Orca Bay Foods, LLC, sold in 19 states, including New Hampshire, Kansas, Kentucky, New York, Massachusetts, and Maine, according to MSN.

So far, no illnesses or allergic reactions have been reported, but Trader Joe’s encouraged buyers who purchased the product to use it with caution if they have a wheat or milk allergy or sensitivity.

“We urge you to dispose of the product or return it to any Trader Joe’s for a full refund,” the company said.

Do not name these ingredients on the packaging can cause big problems for those who try to avoid them for medical or dietary reasons.

Trader Joe’s and Orca Bay Foods recalled all affected product from stores and destroyed 4,450 pounds (356 boxes) of frozen fish.

–You may also be interested in: How much does a McDonald’s employee currently earn?

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Entertainment UK

Gareth Gates scammed out of £250,000 by dodgy Forex money trader


Gareth Gates has said he lost £250,000 due to a dodgy Forex money trader.

The Pop Idol icon, 36, revealed that a scam saw him lose a quarter of a million in the damaging scam.

He had decided to meet with the apparent expert in foreign currency trading after he saw “wealthy friends” have profitable success.

However, in the second year of monthly payments, it became clear that the associate had lost all of his money.

Speaking to the Sunday Times, Gareth revealed: “I’m more careful now as I got burnt once and lost £250,000.

“I was a victim of that. I got nothing back and it was a big learning curve for me.

“I learnt a big lesson that I invested a little bit more than I possibly should have.”

Gareth Gates has revealed that he lost £250,000 with a dodgy Forex trader

So, what had happened with Gareth’s money and the trader?

“He obviously didn’t have good risk management in place, and he’d got himself in too deep,” explained Gareth.

However, Gareth has at least learned a powerful lesson that he will take heed of in future when it comes to money.

Gareth added: “You have to work hard then invest well and you have to give.”

The singer and former Dancing On Ice contestant also added that he still hopes to one day live in a castle, which would be his first purchase if he won the lottery.

Gareth Gates says he has learned a tough lesson after the money-making scheme ended up losing him a lot of cash

Yet, it is not all bad news when it comes to Gareth’s money, as he made an additional £600,000 on his house when he managed to sell it for £1.3million.

Gareth was married to dancer Suzanne Mole from 2008 to 2012, with whom he shares his only child, 10-year-old daughter Missy.

He previously had a romantic relationship with former Coronation Street star Faye Brookes, who he split with last year.

Gareth, who split with Corrie star Faye Brookes last year, is now dating DJ Chloe McLennan

The Corrie star had been in an on-off relationship with Gareth for almost seven years before they called off their engagement in 2019.

The Pop Idol runner-up is now in a relationship with DJ Chloe McLennan.

Do you have a story to sell? Get in touch with us at [email protected] or call us direct 0207 29 33033.





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The Buzz

Hisar trader fakes own death for Rs1 cr insurance


Deepender Deswal

Tribune News Service

Hisar, October 9

In a dramatic turn of events, a trader who was recently reportedly declared murdered after getting robbed, was arrested today from Bilaspur town of Chhattisgarh by the Hansi police. The trader, incidentally, had recently got insured for Rs 1.10 crore from a private firm and for Rs 50 lakh from the LIC.

Lands in police net

  • Hisar trader fabricates an incident of getting robbed and being set ablaze in his car
  • He had recently got insured for Rs1.10 cr from a private firm and for Rs50 lakh from LIC
  • Police are probing murder angle as a charred body was recovered from the car

The SP, Hansi, said the matter was being investigated. The police are bringing the trader, identified as Ram Mehar (48), who owns an industrial unit in Barwala town, to Hisar. On the intervening night of October 6 and 7, the police got information that Ram Mehar was robbed and burnt to death in his car by two unidentified robbers near Mahjat village in the district. After recovering a charred body, the police started probing different angles.

SP Lokender Singh said the circumstantial evidence at the crime spot led forensic experts to doubt the occurrence of the incident. The police are now probing a murder angle.

The SP said a relative of the trader said Mehar had called them at 11.15 pm on October 6, informing them about the robbers and seeking help. Mehar claimed he was carrying Rs 11 lakh he had withdrawn from a bank.

The relative called the Hansi station house officer, but by then the car was in flames. The police, however, said the scene of the crime had no traces of any struggle. A case under Sections 396, 201 of the Indian Penal Code has been registered against unknown persons.





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The Buzz

Hansi trader believed to have been murdered arrested from Chhattisgarh


Tribune News Service

Hisar, October 9

In a dramatic turn of events, a trader who was stated to be a victim of loot and murder was arrested from Bilaspur town of Chhattisgarh by the Hansi Police on Friday.

Hansi SP said that they were investigating the matter and police were bringing the person identified as Ram Mehar from Chhattisgarh to Hisar.

Mehar, 48, a matriculate owned an industrial unit in Barwala town .

SP Lokender Singh said that when the police team along with forensic expert visited the spot of crime, the circumstantial evidence led the experts to doubt about the occurrence of the incident.

The SP revealed that the trader had secured term life insurance of Rs 1.10 crore from a private insurance firm and Rs 50 lakh LIC policy recently.

He said that further details were being gathered about the person who is on the way back from Bilaspur in custody of the police.

The SP said that Ram Mehar was tracked down after a trail of investigation. He said that no other person had been arrested till now.

On October 7, the police got information that a trader Ram Mehar was looted and burnt to death inside his car by two unidentified robbers on the Data-Gurana road near Mahjat village in the district.

The SP said that police had formed three teams after the scene of crime led to doubts and started investigation from different angles.

“The entire incident turned out to be fabricated. The person is still alive and was nabbed from Bilaspur. We managed to get the breakthrough after the initial probe provided crucial leads.”

The officer ruled out loot as motive of incident that occurred on night of October 6-7. He, however, refused to share more details and stated that they would reveal the mystery behind the incident later on.

Lokender Singh said that the police were investigating about the skeleton recovered from the car and were likely to extract information from Ram Mehar on his return.

Recalling the incident, the SP said that a relative who lodged the complaint about the incident had said that Ram Mehar was returning from Hisar to his native village when the incident occurred.

As per his family, the alleged victim called them on phone to inform about the loot and sought help.

He had withdrawn Rs 11 lakh from a bank and was carrying the cash with him in the car at the time of the incident, they added.

However, the officer said that the scene of crime indicated that there was no trace of any struggle.

The family though maintained that at 11.15 pm, Ram Mehar called up his nephew and sought help stating that he was being chased by two motorcycle-borne youth.

One of his relatives called the SHO of Hansi police station at 12.05 am. The SHO directed the Bhatla police Chowki personnel who reached the spot in five minutes (at 12.10 am). By then the car was up in flames.

The police registered a case under Sections 396, 201 of the IPC against unknown persons and started investigation.

The SP said that more details would be revealed by tomorrow.

When asked about any missing report he said that he would disclose some more details tomorrow.

The Hansi Sadar police station SHO denied about any missing report in the last 2-3 days.





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The Buzz

Trader robbed, burnt to death inside car in Hisar


Tribune News Service

Hisar, October 7

A trader was looted and burnt to death inside his car by two unidentified robbers on Data-Gurana road near Mahjat village in the district on Tuesday night.

Ram Mehar, a resident of Data was returning from Hisar to his native village, when the incident occurred. As per his family, the victim called them on phone to inform about the loot and sought help. He had withdrawn Rs 11 lakh from a bank and was carrying the cash with him in the car at the time of incident, they added.

Hansi SHO Kashmiri Lal said the victim called his family at 11.15 pm. The Data village sarpanch called the SHO on behalf of the victim’s family at 12.05 am. The victim’s family apprehended that two motorcyclists were chasing him and they could attack him. The SHO said the Bhatla police chowki personnel reached the spot in five minutes (at 12.10 am). By then the car was up in flames.

The SHO said the police have registered a case under Sections 396, 201 of the IPC against unknown persons and started investigation. The victim owned an industrial unit in Barwala.





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Big Story Coronavirus COVID-19

Sanjay Shah, The Unemployed Trader Who Became A $700 Million Exile


Sanjay Shah at The Pointe on the Palm Jumeriah in Dubai, United Arab Emirates

When Sanjay Shah lost his job during the financial crisis more than a decade ago, he was one of thousands of mid-level traders suddenly out of work.

Shah didn’t take long to get back into the game, setting up his own fund targeting gaps in dividend-tax laws. Within a few years, he charted a spectacular rise from trading-floor obscurity to amassing as much as $700 million and a property portfolio that stretched from Regent’s Park in his native London to Dubai. He commanded a 62-foot yacht and booked Drake, Elton John and Jennifer Lopez to play for an autism charity he’d founded.

Fueling his ascent were what he maintains were legal, if ultimately controversial, Cum-Ex trades. Transactions like these exploited legal loopholes across Europe, allowing traders to repeatedly reap dividend tax refunds on a single holding of stock. The deals proved hugely lucrative for those involved — except, of course, for the governments that paid up billions. German lawmakers have called it the greatest tax heist in history.

Denmark, which is trying to recoup some 12.7 billion krone ($2 billion), or close to 1% of its gross domestic product, says the entire enterprise was a charade. Its lawyers are seeking to gain access to bank records that they maintain will prove that point. Authorities have now frozen much of Shah’s fortune and he’s fighting lawsuits and criminal probes in several countries. His lawyers have told him he’ll be arrested if he leaves the Gulf city for Europe, though he’s yet to be charged.

But in a series of recent interviews from his $4.5 million home in Dubai, Shah was unrepentant.

“Bankers don’t have morals,” the 50-year-old said on a video call. “Hedge-fund managers, and so on, they don’t have morals. I made the money legally.”

“Allowed It”

Shah and the firm he set up — Solo Capital Partners LLP — are central figures in the Danish Cum-Ex scandal, in which he said his company helped investors to rapidly sell shares and claim multiple refunds on dividend taxes.

Authorities have been probing hundreds of bankers, traders and lawyers in several countries as they try to account for the billions of euros in taxpayer funds that they say were reaped. But Shah says he’s being made a “scapegoat” for figuring out how to legally profit from obscure tax-code loopholes that allowed Cum-Ex trades, named for the Latin term for “With-Without.”

“Prove that any law was broken,” Shah said. “Prove that there was fraud. The legal system allowed it.”

The Danish tax agency, Skat, says it’s frozen as much as 3.5 billion Danish kroner of Shah’s assets, including a $20-million London mansion, as part of a sprawling lawsuit against the former banker and his alleged associates.

The agency hasn’t seen “evidence that supports that real shares were involved in the trades relating to the dividend refunds reclaimed in the Shah universe,” it said in a statement. “It looks like paper transactions with no connection to any real holding of shares.”

Shah still reaps about 200,000 pounds ($250,000) a year from renting out his properties, he said, less than half of what he got before the arrival of Covid-19.

The former trader faces additional heat in Germany, where prosecutors are probing him as part of a nationwide dragnet that’s targeted hundreds of suspects throughout the finance industry.

Feeling Robbed

In Denmark, the case against Shah has triggered public anger. The country, which is in the middle of an economic recession wrought by the coronavirus, claims it has been robbed.

“In a country like Denmark, and mainly in the times of Covid-19, it is of substantial importance,” said Alexandra Andhov, a law professor at the University of Copenhagen. The nation’s tax authorities have dealt with alleged fraud cases before but “not in the amount of $2 billion,” she said.

Shah appeared at ease and upbeat while outlining how he’d be arrested if he tried to fly home to London. Married with three children and based in Dubai since 2009, Shah has spent the past five years engrossed in legal papers and talking to his lawyers, he said. To the authorities trying to extract him from his exile, he has a piece of advice: know your tax code.

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Sanjay Shah walks in front of the Atlantis Hotel on the Palm Jumeriah in Dubai, United Arab Emirates

“It’s very nice to put somebody’s face on a front page of a newspaper and say ‘Look at this guy living in Dubai, sitting on the beach every day sipping a Pina Colada while you’re broke and you don’t have a job’,” he said. “I would say look at your legal system.”

First Strides

Shah is hardly the only person ensnared in the European Cum-Ex scandal. German prosecutors have been more aggressive than their Danish counterparts and have already charged more than 20 people. At a landmark trial earlier this year, two ex-UniCredit SpA traders were convicted of aggravated tax evasion.

One of them, Martin Shields, told the Bonn court that while he had made millions from Cum-Ex, he now regretted his actions.

“Knowing what I now know, I would not have involved myself in the Cum-Ex industry,” said Shields, who avoided jail time because he cooperated with the investigation.

A decade ago, Cum-Ex deals were wildly popular throughout the financial industry. Shah says he picked up the idea during his years as a trader in London for some of the world’s biggest banks.

The son of a surgeon, Shah dropped out of medical school in the 1990s and moved into finance. He first observed traders exploiting dividend taxes while at Credit Suisse Group AG in the early 2000s, a strategy known as dividend arbitrage. Will Bowen, a spokesman for the Swiss bank in London, said “the lawsuits referred to relate to a period after Sanjay Shah worked at Credit Suisse.”

Shah didn’t fully embrace Cum-Ex until he was hired by Amsterdam-based Rabobank Group several years later as the financial crisis was beginning to rip through the industry. Rishi Sethi, a spokesman for Rabobank, declined to comment on former employees.

Big Ambitions

After being laid off, Shah says he received offers from several brokerage firms that included profit-sharing. But that wasn’t enough for him, so he set up his own firm.

“I don’t want to make a share,” he said. “I want to make the whole lot.”

That ambition was memorialized in the name that Shah picked for his company: Solo Capital Partners.

Shah said he had about half a million pounds when he started Solo. Within half a decade, his net worth would soar to many multiples of that. According to his recollection, JPMorgan Chase & Co. also played a pivotal role in helping him get started because they were the firm’s first custodian bank. Patrick Burton, a spokesman for the New York-based bank, declined to comment.

The scheme that Shah allegedly orchestrated was audacious. A small group of agents in the U.K. wrote to Skat between 2012 and 2015, claiming to represent hundreds of overseas entities — including small U.S. pension funds along with firms in Malaysia and Luxembourg — that had received dividends from Danish stocks and were entitled to tax refunds. Satisfied with the proof they received, the Danes say they handed over some $2 billion.

Luxury Homes

But most of the money, authorities say, flowed instead directly into Shah’s pockets. The agents and the hundreds of overseas entities had merely been part of an elaborate web he’d created along with a series of dizzying “sham transactions” set up to generate illicit refund requests, according to the country’s claim in U.K. courts.

Starting in January 2014, more than $700 million allegedly landed in Shah’s accounts. He funneled his wealth into property across London, Hong Kong, Dubai and Tokyo, Shah said, amassing a portfolio that he put at about 70 million pounds. He bought a 36-foot yacht for $500,000 in 2014 and called it Solo before upgrading to a $2 million, 62-ft model, the Solo II.

Shah’s lawyers said in his latest filing in the London lawsuit last month that Solo — which went into administration in 2016 — provided “clearing services for clients to engage in lawful and legitimate trading strategies that were conducted at all times in accordance with Danish law.”

They said that dividend arbitrage trading is a widely known and “wholly legitimate trading strategy.” Shah’s lawyers are also contesting whether Denmark has jurisdiction to pursue its claim in the English courts.

It’s been five years since Shah learned he was facing a criminal probe, when the U.K. National Crime Agency raided Solo’s offices following a tip to British tax authorities from the company’s compliance officer.

Slightly Bored

His lawyer at the time, Geoffrey Cox, told him in 2015 that he had nothing to fear and that it would all be over soon, Shah said. Cox, who would go on to become U.K. Attorney General and play a pivotal role during various Brexit crises last year, declined to comment.

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Sanjay Shah’s lawyer Geoffrey Cox played a pivotal role during various Brexit crises last year

But instead Shah’s legal problems are just beginning. A mammoth three-part civil trial covering Skat’s allegations against Shah will start in London next year. The accusations are also at the heart of a massive U.S. civil case targeting other participants in the alleged scam.

Criminal probes in Germany and Denmark are still rumbling on. While Shah said he hasn’t been contacted by the U.K. Financial Conduct Authority, the watchdog said in February that it’s investigating “substantial and suspected abusive share trading in London’s markets” tied to Cum-Ex schemes. A Dubai court threw out Denmark’s lawsuit against Shah in August, though it is appealing the decision.

Back in Dubai, Shah said the ongoing saga is starting to wear him down.

“It’s been quite nice spending time with the kids and family but now where I am, I’m just getting bored and fed up,” Shah said. “It’s been five years. I don’t know how long it will take for matters to conclude.”

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)



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