iradiophilly | News - Dietz and Watson Bomb Threat, Fattah Tax Fraud Trial, Robocalling Student Loan Debtors

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Dietz and Watson Bomb Threat, Fattah Tax Fraud Trial, Robocalling Student Loan Debtors

by: Rebel - Havertown, PA
started: 11/03/15 8:58 am | updated: 11/03/15 8:58 am

Police responded to a possible bomb threat at Dietz and Watson Company early Tuesday morning. It was reported around 1:40 a.m. that there was a bomb at the Dietz and Watson building located on the 5700 block of Tacony Street. Authorities say the threats turned out to be fake. Police checked the location and a bomb squad was not called out to the scene. The reports are under investigation.

At his bank and tax fraud trial, Chaka Fattah Jr. has called more former colleagues with whom his businesses had contact, and will finish presenting his defense by calling his accountant to the stand. The jury is expected to hear closing arguments later today. Federal prosecutors allege he defrauded banks and the IRS between 2005 and 2012, and made false statements to obtain and settle loans to fund a lavish lifestyle. Prosecutors say the money was used for cars, clubs, clothes, restaurants, and entertainment, rather than working capital and other business expenses as required by the loan agreements.

A provision tucked into the bipartisan budget bill signed yesterday by President Obama gives new power to debt collectors. Their target? People who owe federal student loans. Robocalls to a cell phone for this reason had been illegal- but not anymore. About 40 million Americans have student loans. The overall debt: $1.2 trillion. Now, cellphones will be ringing with calls tracking down outstanding student loan debt.

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