Thursday, December 14, 2017
Business

Clearwater woman accused in federal charges of stealing $6 million

A Clearwater woman and a Port Orange man were arrested Monday after the U.S. Attorney's Office in Orlando accused the pair of stealing more than $6 million over a six-year period.

Victoria Snow, 54, and Brian Newton, 56, were indicted on federal charges of conspiracy, mail fraud and wire fraud. Each faces up to 20 years in federal prison if convicted.

According to an FBI investigation, the pair started running a scheme involving "factoring" from 2003 to 2009. That's when a business sells its accounts receivable — its invoices for payment — to a third party at a discount price. Businesses sell their outstanding invoices when they need cash right away and usually arrange for the customer to directly pay the third party who bought the invoice.

Snow and Newton worked on behalf of Tampa's Dataforce International Inc., which was "factoring," or selling, its invoices to Amerifactors Financial Group. The pair were accused of "submitting a series of invoices for factoring, to Amerifactors, that were inflated and that did not reflect the work that had been performed by Dataforce," according to the U.S. Attorney's Office. Amerifactors is located in Celebration.

Federal prosecutors said that the pair also took part in "double factoring," or selling the same Dataforce invoices to both Amerifactors and another company, Prestige Funding, using "altered work orders." Snow and Newton took more than $6 million from Amerifactors, Prestige Funding and Prestige's investors, according to the U.S. Attorney's Office.

Comments
Exploring the incredible color, cuisine, culture of India

Exploring the incredible color, cuisine, culture of India

DELHIAs I slid my shoes off and handed the man a five-rupee note before entering the Jama Masjid mosque, I could feel the heat from the red stone against my heels. I could also feel the intense stares of the Delhi locals. I don’t know which made me s...
Published: 12/14/17
Florida hospitals call for more funding in effort to address looming doctor shortage

Florida hospitals call for more funding in effort to address looming doctor shortage

The number of doctors practicing in Florida has not kept up with the state’s surging population growth, and more money is needed to recruit and keep them here, hospital leaders said Wednesday.The shortage is particularly acute in four speciality area...
Updated: 11 hours ago
Allegiant Air mechanics ask to be represented by Teamsters

Allegiant Air mechanics ask to be represented by Teamsters

Allegiant Air mechanics filed with the federal government Wednesday to be represented by the International Brotherhood of Teamsters. If the petition is passed, the union would negotiate on behalf of the mechanics and related technicians on issues suc...
Published: 12/13/17
Federal Reserve boosts key interest rate for third time this year

Federal Reserve boosts key interest rate for third time this year

WASHINGTON — The Federal Reserve is raising its benchmark interest rate for the third time this year, signaling its confidence that the U.S. economy remains on solid footing 8˝ years after the end of the Great Recession. The Fed is lifting its short-...
Published: 12/13/17
Pasco Business Digest for Dec. 15

Pasco Business Digest for Dec. 15

Business digestWho’s newsHOSPITAL APPOINTS ASSISTANT CHIEF NURSING OFFICER: Registered nurse Courtney Stephenson, board certified nurse executive advanced, was recently appointed assistant chief nursing officer at Medical Center of Trinity. Stephenso...
Published: 12/13/17

Hernando Vendors for Dec. 15

Vendors are needed for the following nonprofit events:• Vendors and volunteers are being sought for a National Homeless Persons’ Memorial Day event from 8 a.m. to 3 p.m. Dec. 21 at Crescent Community Clinic, 5244 Commercial Way, Spring Hill. During t...
Published: 12/13/17
Tampa airport ranks No. 4 for most affordable parking rates

Tampa airport ranks No. 4 for most affordable parking rates

TAMPA — Holiday flight prices may be high, but parking rates at Tampa International Airport are a little more manageable. TIA has the fourth-cheapest parking rates in the country, a study by travel and expense app company TravelBank said. TIA, the st...
Published: 12/13/17

Hernando Business Digest for Dec. 15

EventsDISCOUNT OFFERED TO THOSE WHO DONATE TO HELP HOMELESS: In advance of National Homeless Persons’ Memorial Day, BonWorth clothing store, 12987 Cortez Blvd., Spring Hill, will offer a 10 percent discount on purchases to those who donate unwanted c...
Published: 12/13/17
Target aims to boost same-day delivery by acquiring Shipt

Target aims to boost same-day delivery by acquiring Shipt

NEW YORK — Target plans to boost its same-day delivery capability by paying $550 million for Shipt, its latest move to try to catch up with Amazon. Shipt delivers groceries to its members, who pay $99 a year. Target says it will add more products to...
Published: 12/13/17
Spirit Airlines names new president, CEO for 2019

Spirit Airlines names new president, CEO for 2019

Spirit Airlines, the South Florida-based budget airline, is gearing up for new leadership. Bob Fornaro, president and CEO since January 2016, will step down from his position in early 2019. He will be succeeded by Ted Christie, the airline’s current ...
Published: 12/13/17