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Jefferson Parish Sheriff's Office

A Louisiana woman was arrested for refusing to return $1.2 million, mistakenly deposited into her brokerage account, Nola.com reported.

Kelyn Spadoni opened a Fidelity Brokerage Services account about a month before the firm installed "enhancement" software.

Schwab intended to transfer $82.56 into Spadoni's Fidelity account, but she received a jackpot of $1,205,619 instead.

Schwab immediately noticed the error and a request was made to retrieve the funds from Fidelity. But Fidelity sent Schwab a "CASH NOT AVAILABLE" notification, indicating that Spadoni had already withdrawn the cash.

When attempts to contact Spadoni failed, Schwab notified her employer at the Jefferson Parish Sheriff's Office. Spadoni worked there as a 911 dispatcher for four years.

Authorities discovered that Spadoni spent at least $48,000 on a 2021 Hyundai Genesis SUV. Investigators seized the vehicle and recovered about 75% of the stolen loot.

She was arrested and charged with theft valued over $25,000, bank fraud, and illegal transmission of monetary funds. Additionally, she was fired as a 911 dispatcher and is being held in jail on $50,000 bond.

Schwab has filed a lawsuit against Spadoni seeking the return of the remaining funds.

In the lawsuit, Schwab pointed out that Spadoni violated an agreement in the contract that states if a client receives an overpayment of funds, they are required to return the full amount.

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The mayor of Oakland, California announced all low-income residents will receive $500 a month from the city with no rules attached.

The privately funded program promises monthly "guaranteed income" to low-income residents to help ease the stresses of poverty.

"We have designed this demonstration project to add to the body of evidence, and to begin this relentless campaign to adopt a guaranteed income federally," said Oakland Mayor Libby Schaaf.

An independent study conducted after the previous mayor gave low-income Oakland residents $500 each found that "compared to a control group, residents who received regular payments experienced less income volatility, secured more full-time employment, were better parents and partners, and even saw improvements in their health and overall well-being."

The program is open to qualified low-income residents who have at least one child under the age 18 and earn at or below 50% of the area median income — about $59,000 per year for a family of three.

Only Black people, Indigenous and people of color are eligible to apply.

So far, the "Oakland Resilient Families" program has raised $6.75 million from private donors, CBS News reported.

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Reports that Kanye West is America's wealthiest Black person, with a reported net worth of $6.6 billion, were met with skepticism by Forbes.

The reports of West's massive wealth -- eclipsing Oprah's fortune -- began circulating this week after Bloomberg mentioned Yeezy and Yeezy Gap have a combined value of "potentially" $4.7 billion.

But Forbes, which publishes an annual list of World's Billionaires, disputed the widely reported claims, citing an over-reliance on "theoretical future expectations."

In other words, Forbes is calling BS on the reports that West is the richest Black person in the United States.

In a new report published on Thursday, Forbes' staff writer Madeline Berg said West calculated his net worth by counting bags he hasn't earned yet.

By Berg's estimates, West is worth in the neighborhood of $1.8 billion -- which means he can't sit with Oprah, whose net worth is estimated to be $4.5 billion.

Berg even compared West's ego to former president - and fellow billionaire - Donald Trump.

Berg writes:

"West's wildly optimistic approach to his net worth mirrors the approach used by Donald Trump, who insists the value of his name be included in any net worth estimate."

Still, $1.8 billion puts Kanye in the ultra exclusive club of wealthiest Black people on the planet.

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Now that a new administration has been installed in the White House, struggling Americans are wondering when they can expect their $1,400 stimulus checks.

According to reports, the earliest Americans can expect their checks will be midFebruary or mid-March.

That's because Congress has to vote on the new $1.9 trillion Covid relief bill, and the earliest the bill can be approved is mid-February.

Democrats promised $2,000 checks if they swept the Georgia Senate run-offs in early January. The promises of $2,000 checks continued even after former President Trump signed the $900 billion stimulus package on December 27.

There was never a mention that the $2,000 checks included the $600 stimulus checks that were direct deposited in bank accounts on December 30, 2020 and mailed out on January 6, 2021.

Georgians who blanketed neighborhoods campaigning for the Democrats are angry and disappointed.

"I was on the ground and I knocked [on] over 1,000 doors," Atlantan Rogelio Linares told Mediaite in an interview. "At the doors, I was literally telling people, '$2K checks, you can rely on this.' I'm a man of principle and morals and I feel like shit. I lied to them. I was lying to them the whole time. I was lying to people that were relying on this. At the time I didn't know it was a lie. But that was not the reality."

In more disappointing news, Sen. Lindsey Graham said Wednesday there will be no $15 federally-mandated minimum wage included in the $1.9 trillion stimulus package.

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Screenshot: YouTube

The first $600 Covid-19 relief direct deposit payments hit bank accounts last night. Many Americans took to social media to confirm they received their Covid-19 stimulus payments before midnight.

Millions more checks will go out in the snail mail starting today and continuing into next week.

Treasury Secretary Stephen Mnuchin confirmed that the "Americans' Economic Impact Payments" direct deposits hit bank accounts last night.

"Treasury and the IRS are working with unprecedented speed to issue a second round of Economic Impact Payments to eligible Americans and their families.

"These payments are an integral part of our commitment to providing vital additional economic relief to the American people during this unprecedented time."

Most eligible Americans (and some non-citizens) will receive Economic Impact Payments of up to $600 for individuals or $1200 for married couples and up to $600 for each qualifying child. A family of 5 can receive $3,000.

Individuals who earned over $75,000 in 2019 or couples with combined income of $150,000 are not eligible for stimulus checks.

President Donald Trump urged Senate Majority Leader Mitch McConnell to fast-track a standalone bill to increase the payments from $600 to $2000 per American.

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YouTube

Kevin, aka BandmanKevo, is a self-made millionaire who shares his secrets to success on his YouTube channel.

Of course, with any advice that you find on the Internet, you should proceed carefully. Free credit advice is usually never free. There's always a catch.

In this video, Kevin shares tips on how to raise your credit score quickly and legally.

Your credit score increases if you utilize less than 10% of your credit limit. Meaning, if you have a credit card with a $20,000 limit, you should only spend $2,000. Banks look at everything. They look at how much credit you have and how you utilize it.

If you spend over $2,000 of your $20,000 credit limit on one card, the bank thinks you need the money. As dumb as it sounds, bankers don't lend money if they think you need it.

Check out Kevin's video.
 

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CNN canceled an interview with rap legend Ice Cube after a Trump aide revealed he was working with the Trump administration to develop a $500 billion investment in the Black community.

"So the POWERS that be cancelled my interview on @CuomoPrimeTime tonight," the 51-year-old rapper-turned-actor tweeted to his 5.5 million followers on Thursday.

Ice Cube, born O'Shea Jackson, said he was surprised CNN even asked him for an interview.

"I've actually been ban from @CNN for a few months so I was surprised they even asked. But it seems like they can't handle the truth."

Trump top adviser Katrina Pierson took to Twitter on Wednesday to thank the legendary rapper for helping the Trump administration develop the "Platinum Plan."

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Trump plans to "Increase access to capital in Black communities by almost $500 billion" to be spent in various ways, including creating 3 million new jobs for the Black community and creating 500,000 new Black-owned businesses.

In another tweet, Ice Cube made it clear that he hasn't endorsed anyone in the 2020 presidential elections.

"I haven't endorsed anybody," he tweeted, in response to a user who unearthed a 2016 tweet in which the rapper said he would "never endorse a mothaf–ka like Donald Trump."

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Ice Cube defended himself after his support of Donald Trump sparked a social media meltdown on Wednesday.

President Trump's top adviser Katrina Pierson took to Twitter on Tuesday to thank the legendary rapper for helping the Trump administration to develop Trump's $500 billion economic recovery "Platinum Plan" for the Black community.

"Shoutout to @icecube for his willingness to step up and work with @realDonaldTrump Administration to help develop the #PlatinumPlan... Leaders gonna lead, haters gonna hate. Thank you for leading!"

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The news comes after Ice Cube, born O'Shea Jackson, tweeted on Oct. 11 that he'd met with both parties (Republicans and Democrats), and he revealed that he's not supporting the Democrats in the 2020 election.

That didn't sit well with Ice Cube's followers, whose parents and grandparents are lifelong Democrats.

The backlash on Twitter was swift and unrelenting.

Political commentator Bakari Sellers, a Democrat, tweeted that Ice Cube "fell for something shiny" with the Trump campaign.

"Biden has a black agenda & a racial equity agenda. He has a black female VP who will help oversee COVID recovery for a virus which from a health & economic POV devastated black communities. He will appoint a black woman to the SCOTUS (Supreme Court of the United States) & @icecube fell for something shiny."

Hitting back amid the backlash, Ice Cube insisted he had spoken to both Trump and Biden's teams about his proposed Contract With Black America, which he said "strikes at the heart of racism and presents a blueprint to achieve racial economic justice".

The rap mogul tweeted:

"Facts: I put out the (Contract with Black America). Both parties contacted me. Dems said we'll address the CWBA after the election. Trump campaign made some adjustments to their plan after talking to us about the CWBA."

Ice Cube added that after hearing both sides, he eventually decided to go with Trump, who offered more than lip service.

Cube felt Trump's economic recovery plan would be best for the Black community as a whole. Trump's proposed Platinum Plan aims to create three million new jobs in the Black community over the next four years, and create 500 million new Black-owned businesses by increasing access to financial capital.

Meanwhile, Democratic candidate Joe Biden has previously said he doesn't support reparations for American descendants of slavery.

When one person accused Ice Cube of joining the "darkside", the rapper responded:

"Every side is the Darkside for us here in America. They're all the same until something changes for us. They all lie and they all cheat but we can't afford not to negotiate with whoever is in power or our condition in this country will never change. Our justice is bipartisan."

A recent poll revealed Trump's support among Black men has grown from 8% in 2016 to 45% in 2020.

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In an unprecedented monetary overhaul, the Federal Reserve is preparing to deposit "digital dollars" directly to every American.

According to Zerohedge, the Fed is preparing to "radically overhaul" its monetary system to reduce inflation and stimulate the economy amid pandemic shutdowns.

While the Democrats and Republicans bicker over how many more trillions to pay into another pandemic relief package, the Fed is proposing a monetary tool that they call recession insurance bonds, which will be wired instantly to Americans.

The Fed would activate a lump sum that would be divided equally and distributed to households in a recession, according to Zerohedge.

BAY ISMOYO/AFP via Getty Images

The money would come from insurance bonds purchased by the Fed on the open market. The digital dollars would be deposited directly into household apps.

"It took Congress too long to get money to people, and it's too clunky," said former Fed official Simon Potter.

"The Fed could buy the bonds quickly without going to the private market. On March 15 they could have said interest rates are now at zero, we're activating X amount of the bonds, and we'll be tracking the unemployment rate -- if it increases above this level, we'll buy more [bonds]."

During a speech to the Chicago Payment Symposium on Wednesday, Cleveland Fed president Loretta Mester said, "legislation has proposed that each American have an account at the Fed in which digital dollars could be deposited, as liabilities of the Federal Reserve Banks, which could be used for emergency payments."

Sandra Rose/Sandrarose.com

But there's a catch. According to Zerohedge, the Fed giveth and the Fed taketh away (you drug dealers will want to pay attention to this part).

Once physically currency is replaced by digital dollars, the Fed would then be able to scrap "anonymous" physical currency entirely, and track every single banknote from its "creation" all though the various transactions that take place during its lifetime. And, eventually, the Fed could remotely "destroy" said digital currency when it so decides.*

Oh, and say goodbye to your banks, as the Fed would both provide loans to consumers and directly deposit funds into their accounts, effectively making the entire traditional banking system obsolete.*

*(bold emphasis mine)

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Americans who receive an extra $600 in federal unemployment benefits in addition to state benefits may get an extension after the extra $600 ends next month.

Some unemployed Americans receive a windfall of $1,000 a week when they collect an additional $600 in unemployment benefits on top of state benefits.

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The extra $600 was part of the $2.2 trillion stimulus package known as the CARES Act that President Trump signed into law in response to the coronavirus pandemic.

Some lawmakers are considering extending the additional $600 in federal benefits next month, but other say the extra $600 creates "a disincentive to return to work."

There are three proposals on the table for the next round of stimulus funding. Two of the proposals would allow Americans to continue receiving the extra $600 a week.

But one proposal calls for a return-to-work bonus to motivate people to return to work.

Republican Sen. Rob Portman, from Ohio, says extending the $600 weekly benefits past July would be a disincentive to return to work if Americans receive more money than they would if they were working.

The most recent unemployment report shows that 2.5 million Americans went back to work last month -- a sign that economies are rebounding as states reopen.