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  • Floyd Mayweather and DJ Khaled Allegedly Sued in Cryptocurrency Scam

    Floyd Mayweather and DJ Khaled Allegedly Sued in Cryptocurrency Scam

    Legendary boxer Floyd Mayweather and the New York rap producer DJ Khaled are allegedly being sued for promoting the $25 million Centara Tech cryptocurrency scam.

    No one epitomizes the ‘money first’ ethos of the modern world quite like Floyd ‘Money’ Mayweather. It seems that the pugilist’s love for anything spendable might have gotten him in deep water this time as news of a lawsuit is rife across the internet.

    TMZ Reports Floyd and Khaled Crypto Scam Lawsuit

    The popular entertainment news site, TMZ has reported that both Mayweather and DJ Khaled have both been caught up in a lawsuit pertaining to their promotion of the alleged $25 million Centara cryptocurrency scam on their social media accounts.

    Although these two leading figures in the African-American community are not directly involved in perpetrating the scam, the TMZ report alleges that both Khaled and Mayweather are being sued for promoting Centara’s CTR token.

    In the report from TMZ, it detailed that investors in the cryptocurrency scam are looking to get some of their money back and also looking for damages from both Centara Tech and Khaled and Mayweather. And although the news is still sketchy on the subject, it has yet to be confirmed whether the lawsuit is part of the original class action filed in June against Centara Tech or if this is a new development.

    Promoting Cryptocurrency Scam on Social Media

    The three founding members of Centara Tech’s CTR token were initially arrested earlier this year as a magistrate released a report that claimed that the CTR token was violating SEC cryptocurrency regulations. They are currently being held for defrauding investors to the tune of $25 million and face a combined total of 65 years behind bars.

    The co-founding trio allegedly made lots of false claims in regards to its relationships with major financial institutions and also partnerships with Visa and MasterCard.

    The claims against Mayweather and Khaled relate to the pair using their social media platforms such as Twitter and Instagram to promote the CTR token ICO in its pre-launch phase.

    DJ Khaled was seen promoting the CTR token on his Instagram and Twitter in September that said:

    Mayweather has also allegedly promoted the cryptocurrency scam on his Instagram account that called for potential investors to “join Centara’s ICO on Sept. 19th”. He was also reported as using his Twitter account to promote CTR:

    The TMZ article has said that Mayweather and Khaled are now being sued by former CTR token investors, but at the time of writing, we haven’t had an official statement from the pair to clear up the situation.

  • Amazon and Microsoft Earnings – Up on the Cloud?

    Amazon and Microsoft Earnings – Up on the Cloud?

    As 30% of the S&P index gets ready to release their Q3 earnings figures this week, Amazon and Microsoft look set to report further significant growth in their cloud earnings and healthy overall results. Analysts are still saying shares in Amazon and Microsoft are a good bet.

    Earnings from cloud-based computing services look set to top $25 billion across 2018 for both technology giants as the pair look to further monopolize both cloud computing and the entire digital market.

    Amazon Web Services Predicted Q3 Cloud Earnings

    Predictions by ex-Oracle Chief Communications Officer Bob Evans indicate that, based on 2017 and 2018 performance and growth, Amazon Web Services (AWS) could hit revenue of $6.1 billion. In Q2 Amazon’s earnings were up 48% at $5.4 billion.

    Amazon’s recent cloud client acquisitions include Ryanair, Epic Games, and 21st Century Fox moving all or most of their cloud workloads to AWS. Formula One racing has closed its on-premises data centers to move to AWS and Major League Baseball has committed to using AWS for machine learning and artificial intelligence (AI).

    Considering the meteoric rise of Epic Games’ Fortnite, reaching 80 million players monthly, acquiring Epic’s cloud demands is no small deal.

    Amazon has also revealed new cloud products like DeepLens, Amazon Neptune, Amazon QuickSight, and AWS Snowball Edge.

    Microsoft Azure Predicted Q3 Cloud Earnings

    Evans’ prediction for Microsoft’s cloud earnings, after achieving growth of 58% in Q3 with $6.9 billion revenue, is that they could hit $7.4 billion.

    Microsoft already has the lead on Amazon but the leviathan has been increasing its cloud coverage to what it says is more than any other provider.

    It has also added Azure Stack for hybrid environments, Azure Sphere, Azure Machine Learning, and Azure Cosmos DB. Microsoft boasts a total of 500 new capabilities for its Azure cloud platform in 2018.

    Predicted Overall Q3 Earnings

    CNN’s poll of analysts settles on an overall Q3 total earnings prediction of around $57 billion for Amazon, with its share price set to rise around 23% between now and this time next year. CNN’s consensus of 40 out of 47 analysts is that it’s still the right time to buy Amazon’s shares. Amazon will release its Q3 earnings on October 26.

    For Microsoft, CNN’s analyst poll aggregates expected earnings for Microsoft in Q3 at $27.9 billion and its share price to rise in the next 12 months by around 14%. 28 out of 34 CNN analysts polled also still judge Microsoft shares to be a good investment. Microsoft is due to release Q3 earnings on October 25.

    Featured image from Shutterstock.

  • Want More Girls in STEM Subjects? Get Them Gaming

    Want More Girls in STEM Subjects? Get Them Gaming

    When it comes to the tech industry, it’s no secret that women are grossly underrepresented. Something like 15% of all tech jobs are held by women. While we can delve into the various probable causes, perhaps it’s more valuable to look at how to get more girls in STEM subjects moving forward.

    According to one study by the University of Surrey, the answer lies in video games.

    More Playing Equals More Girls in STEM Subjects

    So there you go young students! The next time your parents try to snatch your console or iPad out of your hands and tell you to hit the books, you have actual statistics on your side. Playing video games makes you three times more likely to study STEM subjects later on. Which means you’re three times more likely to be a tech billionaire or self-made billionaire by the time you’re 30.

    According to the study, girls who identify themselves as gamers are more naturally drawn to STEM subjects. And this could be the key to closing the gender gap in the leadership and development of these industries moving forward. So, if you’re a closest Fortnite fan, you can now officially chalk your game time up to advancing your technology education.

    To qualify as a “heavy gamer,” girls polled of the ages between 13-14 (apparently the appropriate age to have a significant effect over which degrees teenagers will pursue) must play over nine hours of video games each week. Yikes. So, it might affect their career choice but it won’t do their social development any good. No wonder techies are such nerds.

    Researchers at the Universty of Surrey also looked at the opposite: how many women in the STEM subjects considered themselves gamers. They found that nearly all of them identified themselves as such. Jackpot! Of note is that the same could not be said for men.

    The study lead was Surrey University Director of Ph.D. in Higher Education, Anesa Hosein, who identifies herself as a “geek girl” gamer. She said:

    “Our research shows that those who study PTSEM subjects at degree level are more likely to be gamers, so we need to encourage the girl gamers of today to become the engineering and physics students and pioneers of tomorrow.”

    A Tectonic Shift in Video Game Design As Well

    It’s not only the STEM subjects that stand to benefit from more females gamers. In fact, many video game designers have been working with false assumptions. They wrongly thought that just 5% of gamers were women. But according to an ESA report, as much as 45% of women now play video games either regularly or frequently.

    Choice of games unsurprisingly differs. Women may shy away from shooting or tactical games, but they drift toward interactive drama games, RPGs (roleplaying games), and survivals. A rise in female game designers would almost certainly appeal to the rising segment, making a win-win situation all around.

    Featured image from Shutterstock.

  • How Much Money Do You Need For a Comfortable Retirement?

    How Much Money Do You Need For a Comfortable Retirement?

    What would it take for you to feel financially secure as you pass middle age and head into a comfortable retirement? A study by Magnify Money attempted to answer that objectively, using research data collected from the United States Federal Reserve and the Federal Deposit Insurance Corporation (FDIC). The results reflect the American experience, but should nonetheless provide a little insight for everyone in developed countries.

    What You Need for a Comfortable Retirement

    If you had at least three months’ worth of living expenses ready to spend, some money set aside for emergencies, and you’re close to having a million dollars as a nest egg for retirement, it would seem to be a very stable base from which to plan your future.

    Unfortunately, the data seems to indicate that most people in the US don’t have anything like that kind of security. People around their forties have a median total savings of a little under $16,000 USD, and that’s it.

    Of course, it should be noted that the median skews upwards because the more well-off are considerably further ahead, so the reality is a lot of people will have even less.

    savings

    Some Tips to Help You Save

    Retirement plan provider Fidelity suggests you save 15% of your annual income. You should put that money in some kind of investment, and not just leave it in regular savings accounts where it won’t do any work for you.

    Depending on your situation, any one of the different government retirement accounts might be appropriate, or index funds or other investments might be better for you. Specifics will vary among people and their situations, but, the one thing common to all people is to make sure you do something with that 15% to allow it to grow.

    Younger people tend to have lower incomes, so 15% might be too much of a burden to maintain in your early working years. If that’s the case for you, try to save what you can, and then see if you can increase how much you set aside by 1% every year until you hit 15%.

    Life is full of unexpected surprises, and you need an emergency fund to handle those. The ideal emergency fund size is something around three to six months worth of living expenses. It’s not just a matter of paying for whatever problem comes up, such as your car breaking down, but also covering costs while the problem is being dealt with, like your car being held for repairs and the impact that might make on your life.

    The Takeaway

    As you reach your forties and maybe through no fault of your own you haven’t been able to set aside enough money to take advantage of compound interest, your best recourse is to focus less on how to set aside money from what you’re currently earning and instead look to how you can increase your income.

    You might be a genius at saving money, but later in the game, small slivers of savings won’t catch up to your needs, whereas if you can squeeze in extra earnings, you can scale your savings to much more effect.

    Of course, everyone’s situation is different, and there is no catch-all advice that will work for everyone. Fortunately, these days there are lots of resources available online for free, and experts you can reach out to for some personal consulting for a fee.

    What’s important, though, is that you take the step of thinking about your financial situation in the future. The simple act of making plans, at whatever scale you can manage, will ultimately make you grateful for your foresight later in life.

    Images from Shutterstock.

  • Mega Millions Jackpot Expected to Reach $1.6 Billion by Tonight

    Mega Millions Jackpot Expected to Reach $1.6 Billion by Tonight

    Who wants to be a billionaire? Everyone of course, apart from the Dalai Lama who’s not that bothered. The Mega Millions Jackpot is apparently going to reach an earth-shattering $1.6 billion by Tuesday evening, which is turning heads quicker than the blond-haired girl from The Exorcist.

    The Mega Millions jackpot is expected to become the biggest lottery draw in US history, soaring past the previous highest lottery jackpot figure. Are you eligible to take part? And if so, how does it work?

    You’ve Got to Be in It to Win It!

    The previous largest Mega Millions jackpot prize in history was an astounding $656 million that was claimed in Illinois in 2012. The largest lottery prize pot in US history was the Powerball jackpot of 1.58 billion in January 2016. The latest Mega Millions jackpot is expected to go one better at $1.6 billion by Tuesday evening.

    If you are an individual winner of the jackpot, you could take home a lump sum of $904.4 million after tax.

    You’re already thinking: “How can I play?” The truth is, if you’re from outside of the United States of America, you’re not eligible to buy a ticket. However, if you’re 18 years old or over and live in the US, you can play across 44 states, and also Washington D.C. or even in the US Virgin Islands.

    When Is the Mega Millions Jackpot Draw and What Are the Odds?

    When we say you have more chance of being struck by lightning twice in the same place than winning the Mega Millions jackpot, it can be a bit of a downer. However, someone has to win the prize at some stage. The odds of winning the Mega Millions jackpot are one in 302.5 million, regardless of the number of players or the stakes.

    The last winning ticket for the Mega Millions was on July 24, and ever since has been building to this gargantuan pot we see today.

    The six winning numbers will be broadcast at 11 pm Eastern Time on Tuesday night. You have up until 15-minutes before the draw to choose your numbers.

    It’s time to get out the four-leaf clover, wipe down the old rabbit’s foot, shine up the magic lamp and pray to your personal god for the first time in a decade. The Mega Millions jackpot draw is almost upon us.

    Featured image from Shutterstock.

  • Mike Novogratz’s Crypto Investments May Make Him a Billionaire, Again

    Mike Novogratz’s Crypto Investments May Make Him a Billionaire, Again

    It isn’t easy to make money. When it comes to seeing your name wiped off the list of global billionaires, it has to sting. For Mike Novogratz, the rise to billionaire status has happened more than once. Unfortunately for him, it also seems to disappear just as quickly.

    Earlier this year Forbes estimated that Mike Novogratz’s crypto net worth was in excess of $700 million USD. That figure was created when cryptos were flying high. Today Mr. Novogratz is probably worth a lot less, but it hasn’t seemed to dent his enthusiasm for the crypto space.

    The crypto billions that recently disappeared are the second time that excessive optimism cost Mike Novogratz billionaire status. The first came in 2008 after Fortress Investment Group’s shares value plummeted to around $2 USD per share. They had traded as high as $35 USD in 2007 when the company had gone public and sold off a single digit percentage of their company to equity investors.

    Mike Novogratz Knows How to Bounce Back

    When the Lehman Brothers-fueled collapse came, Mike Novogratz saw his first fortune get obliterated. In late December of 2008, Fortress Investment Group had to suspend withdrawals from their Drawbridge Global Macro fund, which was hemorrhaging money.

    Mike Novogratz was influential in founding and managing the Drawbridge Global Macro fund, and was at its helm when it suspended withdrawals at the nadir of the last crisis. He had been with Goldman Sachs since 1992, and his experience in emerging markets like Latin America and Asia helped him find a place at Fortress Investment Group.

    The overall value of Fortress Investment Group was artificially low during the crisis. The underlying investments that Fortress had made were basically sound, and the falling share prices exaggerated the real market conditions in the extreme. After the orgy of selling passed, Fortress’s portfolio value improved substantially.

    Leaving Fortress and Going Crypto

    fortress

    Despite the relative improvement in the Fortresses Macro fund, the company decided to shut it down in 2015. Mike Novogratz walked away from Fortress with a pay package that was worth more than $200 million dollars. Not enough to get him back on the billionaire’s list, but not too shabby either.

    In 2013, two years before he left Fortress, Mike Novogratz decided to get into cryptos. Back then there weren’t many options, and Mr. Novogratz ended up buying some bitcoin when it was still selling for well under $1,000 USD (contrary to popular belief, 2013 was another breakout year for bitcoin, with prices ranging from $100 at its lowest to $1,00 at its highest).

    He famously told Bloomberg in 2013:

    “Put a little money in bitcoin…Come back in a few years and it’s going to be worth a lot.”

    Mike Novogratz expanded on his confidence in the sector to Bloomberg TV in 2014:

    “So there’s this open source community where there’s huge brain power, let alone all the VC money that’s going in. And so from Marc Andreessen and his company to Benchmark… there’s lots of smart money going in. I’ve never seen a small project with more human capital going into it, and so I kind of want to bet just on that alone.”

    He was talking about the Bitcoin development space, where there were more than 30,000 programmers working on the platform according to his estimates. It isn’t hard to see that he was 100% right on the money, and got into cryptos at the perfect time.

    Not a Popular Move

    However, there has been a lot of criticism hurled at the crypto space. From their beginnings, cryptos haven’t been well received by many people in the investment community. Mike Novogratz was clearly cutting against the grain when he was publicly bullish on an asset class that is controversial even today.

    “Tyler Durden” of Zerohedge fame, decided to make the following comment on Mike Novogratz’s crypto position back in 2013, saying:

    “Given that Bitcoin may ultimately make firms like Fortress – that rely on fiat specie – redundant, then doesn’t the endorsement of Bitcoin by one of the world’s largest Private Equity firms reek of the ultimate failure of BTC as a monetary construct, and seem much more to be merely an attempt by the firm to herd even more momentum chasers into a trade [ostensibly one for Novogratz P.A.] that will be then unwound with Bitcoins ultimately converted into the same dollar they are supposed to replace?”

    Looking back, it’s ironic to see such skepticism surrounding Bitcoin, and clearly, Mike Novogratz was getting in at a great time. Like many doubters, Tyler Durden places cryptos at odds with the established financial system. Mike Novogratz was looking at cryptos as a technology, and his view of cryptos was clearly a profitable one.

    The “Goldman Sachs” of Cryptos

    While Mr. Novogratz’s calls on the crypto market haven’t always been correct, he has been on the right side of the market enough to build up an extremely valuable position. He recently launched a crypto merchant bank that he hopes will grow into “The Goldman Sachs of Cryptos.” Called Galaxy Digital Holdings (GLXY.CVE), the company went public in Canada via a reverse merger earlier this year.

    A number of prominent crypto-focused companies have used this method to list their equity on a public exchange. Instead of using an Initial Public Offering (IPO), a company buys all the outstanding shares of an existing company and uses it as a vehicle to list their assets on a public stock exchange.

    It’s much easier to use a Canadian reverse merger than a US IPO. Other notable companies that used this method are HIVE Blockchain Technology and Hut 8 Mining.

    Unlike Hut 8 and Hive, Galaxy Digital isn’t focused on crypto mining. Mike Novogratz is using the company to invest in crypto companies that he sees as promising investments. Initially, the shares of GXLY saw some major selling, and the company posted some ugly quarterly results. Their holdings were hit hard by the drop in crypto prices, and that seems to have translated into selling pressure for their shares.

    galaxy chart

    A New Market is Growing for Mike Novogratz

    Crypto prices are still under pressure, but it seems like investors are waking up to the idea that Galaxy Digital is about more than holding on to cryptocurrencies. Galaxy Digital recently joined Goldman Sachs in investing at least $15 million USD in BitGo Holdings Inc, which is working on creating a $1 trillion USD crypto wallet.

    Mike Novogratz commented on the investment after the details were made public:

    “We have been impressed with BitGo’s world-class team, their deep technical understanding of digital assets as well as their ability to deliver institutional-quality products to investors. Our team is excited to support BitGo as it enters into this next phase of growth.”

    Once again, it seems like Mike Novogratz is focusing on technology over crypto assets as such, which may be a good strategy in a sector that is attracting loads of capital. He also called a bottom in crypto prices last month, saying that:

    “This is the BGCI (Bloomberg Galaxy Crypto Index) chart… I think we put in a low yesterday, retouched the highs of late last year and the point of acceleration that led to the massive rally/bubble… markets like to retrace to the breakout… we retraced the whole of the bubble.”

    Still a Wild Market

    Bitcoin prices have been more or less flat since Mr. Novogratz called the bottom of an epic plunge in crypto prices. The jury is still very much out when it comes to the future of these assets. He also weighed in on the Tether controversy and encouraged the people behind the controversial stablecoin to increase the amount of transparency in their operations.

    Despite the fact that crypto exchange Bitfinex may be insolvent (they are a sister company of Tether), Mike Novogratz used cautious words when he clarified his position toward one of the world’s largest stablecoins:

    “I’d like to put context to these quotes as the last thing I want to do is spread FUD. I said I thought tether has a dollar for every tether and that we actively traded it. The fact that almost $700mm has been redeemed in an orderly fashion is important.”

    Decades in the financial markets have given Mike Novogratz a perspective that few in the crypto world have. There’s nothing like experience to guide decision making, and that bodes well for Mike Novogratz’s ventures in the world of cryptocurrencies and blockchain as the market evolves.

    Featured image from Everipedia.org.

  • China’s Biggest Gaining Day Cut Short By Reverse Swing

    China’s Biggest Gaining Day Cut Short By Reverse Swing

    There’s never a dull day in the stock markets and the latest movements in Chinese equities are enough to cause palpitations in even the most conservative of investors. After the best one-day gain in three years yesterday, Chinese equities swung the opposite way on Tuesday pulling down the European and US futures trade with them.

    Analysts are now concerned over the Chinese authorities ability to boost its economy. Despite speeches of encouragement, contingency plans, and even tax deduction announcements, the markets have failed to stay in the green.

    After jubilant shareholders finished the day Monday smiling from ear to ear, by midday on Tuesday the CSI 300 index of major Shanghai and Shenzhen companies was already down 1.7%. The same knock-on effect was felt in Hong Kong with the Hang Seng China Enterprises Index dropping by 1.9%.

    These downward swings in Asia look set to drag the European futures trade down with them, with London’s FTSE 100 expected to lose 0.8% and Frankfurt’s Xetra Dax 30 down by 1.3%. All indications point to the same trend repeating in Wall Street, with the S&P 500 expect to open down 1% and the Nasdaq Composite falling by 1.2%.

    Both European and US stock markets had a slow start to the week with the S&P 500 slipping by 0.4% yesterday and the pan-European Stoxx 600 also dropping by the same amount.

    Global Geopolitical Pressures Affecting Chinese Equities

    Despite considerable measures taken by Chinese authorities to bolster investor confidence, the markets are back in a tailspin. Yet, there is only so much that China’s central bank and governing party can do. There are plenty of other geopolitical factors in play that they simply cannot control.

    These include president Trump threatening to withdraw from the US-Russia Cold War Nuclear Treaty, the tensions between Saudi Arabia and the west over the killing of journalist Jamal Khashoggi, European pressures with Italian bonds and Brexit, and, of course, the ongoing trade war.

    Featured image from Shutterstock.

  • Richard Branson Steps Down as Virgin Hyperloop One Chair

    Richard Branson Steps Down as Virgin Hyperloop One Chair

    The repercussions of the death of Saudi journalist Jamal Khashoggi run deep. As the Kingdom begins to churn out one implausible version of his death after another, it isn’t just political tensions that are rising. Executives in all industries are beginning to reconsider doing business in the middle eastern country, including Richard Branson.

    Yesterday, he announced that he would be stepping down as chairman of Virgin Hyperloop One, as the murder of Khashoggi raised questions over whether the transport venture will continue to work with Saudi Arabia.

    The Move Was Planned for Some Time

    While Branson’s timing to leave the company certainly looks to be related to the killing of Khashoggi, the move had apparently been planned for some time. Although, that’s hardly a plausible version of events either considering that Richard Branson had been particularly vocal about the developments surrounding the disappearance of the journalist outspoken on Saudi issues.

    He had earlier said that this unfortunate event would call into question “any of us in the west” doing business with Riyadh should the Kingdom be found to be behind his death.

    Branson took on the role as chairman in December last year after Virgin invested in Hyperloop One, the high-speed technology transportation company.

    The move was unusual for a man who had no recent history of taking board positions. In fact, he hadn’t held a board position in over two decades but he said he had done so to help the company through its fundraising period. He insisted that his exit had nothing to do with the recent tensions triggered with the Arab Kingdom.

    Richard Branson yesterday in a statement said:

    “At this stage in the company’s evolution, I feel it needs a more hands-on chair, who can focus on the business and these opportunities [in India, Spain, and the US]. It will be difficult for me to fulfill that commitment as I already devote significant time to my philanthropic ventures and the many businesses within the Virgin Group.”

    Virgin Hyperloop One Leaves Saudi Deal on the Table

    Despite Branson’s insistence to the contrary, Virgin Hyperloop One changed their plans abruptly last week to sign on a deal for a new feasibility study at the Future Investment Initiative in Riyadh.

    The official line made no mention of Khashoggi, the company simply said that its operations in India were more advanced while its work in Saudi Arabia was at an early stage. Moreover, they had not yet received confirmation from Saudi officials.

    Virgin Group’s senior director Patrick McCall will be taking up Branson’s seat on the chair and the British billionaire and philanthropist will remain involved promoting Virgin Hyperloop One activities. In a statement on Monday, the company said:

    “We thank Richard for his leadership and vision as Chairman. We are continuing to work in partnership with the Virgin Group to advance our first projects globally.”

    Featured image from Shutterstock.

  • Mixed Emotions as Former Carolina Panthers WR Rae Carruth Released

    Mixed Emotions as Former Carolina Panthers WR Rae Carruth Released

    Ex-professional football player and Panthers wide receiver Rae Carruth was released from the Sampson Correctional Institution in Clinton, North Carolina yesterday having served an 18-year-sentence for conspiracy to murder his then-girlfriend and mother of his child Cherica Adams.

    As Carolina’s first pick of the 1997 draft, Carruth showed great promise in his career and was picked by the Carolina Panthers, going on to sign a $3.7 million deal with the team, as well as receiving a $1.3 million signing bonus.

    Wearing the uniform number 89, during the 1997 season, he clocked up some 44 passes in his name, as well as 545 yards and four touchdowns. In 1998, Carruth sat most of the season out after breaking his foot, finishing with a total of four catches in 59 yards. In 1999, he caused a stir during the first six games, totaling 14 catches in 200 yards.

    And then things started to go downhill.

    Conspiracy to Murder

    In 2001, Rae Carruth was found guilty of conspiring to murder his pregnant girlfriend Cherica Adams. Adams, who died one month later, was shot four times by Watkins, a man Carruth hired to carry out the killing.

    Carruth had engineered the plan, stopping his own vehicle in front of Adams’ after the couple returned from watching a movie, allowing Watkins to pull alongside and carry out the shooting.

    While Watkins was sentenced to 40 years for the murder, Carruth was given a lighter sentence of 18-24 years for the conspiracy.

    Carruth left the state penitentiary in silence wearing a knitted cap and light jacket to muted applause. He got into a white SUV and promptly left the scene.

    What’s Next for Rae Carruth?

    The ex-footballer will now serve a nine-month parole program and will need special permission to leave the country during this time. After nine months, he will be free to move about as he pleases.

    One question many people will be asking is whether Carruth will want to visit his son Chancellor Lee Adams, who survived the shooting back in 2001 and is now 18 years old.

    Chancellor Lee suffers from cerebral palsy. The unborn child survived the shooting, but the loss of oxygen and blood caused him permanent brain damage. He has been raised by Cherica’s mother Saundra Adams since birth.

    Carruth repeatedly wants a relationship with his son and is truly repentant for his actions. He said in a telephone interview with WSOC-TV in Charlotte:

    “I just truly want to be forgiven.”

    He also admitted to feeling a little frightened at the prospect of his release, saying:

    “I’m nervous just about how I’ll be received by the public. I still have to work. I still have to live. I have to exist out there and it just seems like there is so much hate and negativity toward me.”

    Featured image from Fox News.

  • Saudi Prince Mohammad Bin Salman Bids $5.2 Bn for Manchester United

    Saudi Prince Mohammad Bin Salman Bids $5.2 Bn for Manchester United

    It seems that rumors earlier last week that Saudi Prince Mohammad Bin Salman was to buy Manchester United were true. New reports are now circulating that a staggering $5.2 billion bid has been made for the legendary English football club.

    Last Tuesday, the uber-wealthy Mohammad Bin Salman had shown interest in purchasing Man Utd. However, the current owners, the Glazer family, were adamant that the club was not for sale. What a difference a few days make!

    Behind the Scenes at Manchester United

    Current Manchester United manager Jose Mourinho is having a mixed start to the season on the pitch. His team currently sits in the 10th spot in the English Premier League (EPL).

    Mourinho has publicly struggled to handle high-profile players such as World Cup winner Paul Pogba off the pitch in an on-going power struggle story that has received much press attention.

    It seems that these are not the only behind-the-scenes things happening at United at this moment in time.

    If the circulating reports are true, the Saudi Prince Mohammad Bin Salman has made an earth-shattering $5.2 billion (£4 billion) bid for the club which will test the mettle of the current owners, Joel and Avram Glazer.

    Mohammad Bin Salman Makes Unbeatable Offer

    The Glazer family first bought the Manchester club back in 2005 for a reported $1 billion (£790 million). The latest alleged offer from Mohammad Bin Salman at over $5 billion would be a smart piece of business for the Glazers.

    When initially purchasing the club, the Glazer family came under fire from unhappy Manchester United fans who believed the club would lose a part of its soul in the sale to a foreign party. Times have changed across the football industry as billionaires now flock to purchase British football clubs, much to the excitement of the fans.

    Conflicting reports have surfaced that Avram Glazer was supposed to visit Saudi Arabia this week to attend an international business forum. But apparently, Avram has canceled because of the issues brought to the attention in the media of the killing of Saudi journalist Jamal Khashoggi.

    One thing is for sure, though. When you have a supposed fortune of over $1 trillion like Mohammad Bin Salman, issues like this tend to evaporate into the ether.

    Featured image from Shutterstock.