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☆ Luxury chalet buyers in the Alps are now interested in a lot more than just skiing
▼ + stars: | 2024-12-01 | by ( Maria Noyen | ) www.businessinsider.com time to read: +3 min

Property companies say the quality of the skiing is not the only criteria for some Alpine buyers. Instead of winter sports, wellness is taking priority for many seeking an Alpine chalet. AdvertisementYet, for some wealthy chalet buyers in upmarket towns such as Gstaad and Courchevel, it seems skiing is no longer the only draw. Pristine slopes are not the only draw for Alpine chalet buyers. Rollason added that if the uber-wealthy are buying a chalet, "then it's not just a chalet — it's an all-encompassing leisure object."

Persons: Knight Frank, Kurti, Kate Everett, Allen, Jeremy Rollason, sanatoriums, Rollason Organizations: Bain & Company, Alpine, Swiss Locations: Savills

☆ 'Swicy' items take over restaurant menus as Gen Z seeks heat
▼ + stars: | 2024-10-22 | by ( Amelia Lucas | ) www.cnbc.com time to read: +4 min

Nearly 10% of restaurant menus have "sweet and spicy" items, up 1.8% over the last 12 months, according to market research firm Datassential. Common menu items have paired fruity flavors and chili powder, or used sauces like hot honey and gochujang, a red chili paste that's a popular Korean condiment. Courtesy: StarbucksAlthough the menu items were largely only available for a limited time, culinary experts think that the swicy trend has staying power. Buzzy, trendy menu items are more important now to restaurants, which are leaning on both discounts and innovation to attract diners and reverse declining sales. Limited-time menu items are particularly attractive to Gen Z customers, a key demographic because they account for roughly a fifth of Americans.

Persons: Randy Shropshire, trendologist Kara Nielsen, Nielsen, Jeffrey Saad, Hadar Cohen Aviram, McCormick, Cohen Aviram, Gen Zwicy Organizations: Coca, Getty, Food Institute, Box Intelligence, Sweet, Food Network, Istock, Nielsen, McCormick Locations: Chico, Thermal , California, U.S, San Francisco, Korean, Cholula

☆ Ken Griffin's move to Florida means losing millions on homes he never even lived in
▼ + stars: | 2024-10-21 | by ( Lian Kit Wee | Jordan Pandy | ) www.businessinsider.com time to read: +5 min

Ken Griffin's Chicago penthouse — listed for $10 million less than he paid for it — has a buyer. A representative for Griffin said that his real-estate investments in Florida make up for the loss. AdvertisementGriffin and the listing agents for the Chicago penthouse did not respond to requests for comment sent by Business Insider. In 2023, he added, only four properties sold for that amount. AdvertisementAccording to Rafael Murillo, a Compass agent in Chicago, properties that cost eight figures are not a regular occurrence.

Persons: Ken Griffin's, —, Griffin, Ken Griffin, Walton, he's, Zia Ahmed, Michael LaFido, Knight, Rafael Murillo, Murillo, Michael Jordan's, Jordan, LaFido, homebuyers Organizations: Service, Citadel, Cook, Bloomberg, Chicago, Business, Chicago Tribune Locations: Ken Griffin's Chicago, Florida, Chicago, Gold Coast, Lake Michigan, South Florida, Coconut Grove, Miami, Palm Beach, Chicagoland, New York, city's St, Regis, Highland, COVID, Illinois

☆ Britain's ultra-wealthy are threatening to exit en masse ahead of proposed tax changes
▼ + stars: | 2024-09-20 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +9 min

They're just a few of the destinations trying to lure away the U.K.'s uber wealthy ahead of proposed changes to the country's divisive non-dom tax regime. They will also be prevented from avoiding inheritance tax on assets held in trust. The majority (83%) cited inheritance tax on their worldwide assets as their key motivator for leaving, while 65% also referenced changes to income and capital gains tax. Where the wealthy are movingIt comes as other countries are shaking up their tax regimes to incentivize wealthy investors. Ultra-wealthy U.K. citizens, who are typically highly active in the super-prime market, are also in "wait and see" mode ahead of possible changes to capital gains and inheritance tax.

Persons: Keir Starmer, Rachel Reeves, Macleod, Miller, they'll, Leslie Macleod, Helena Moyas de Forton, Moyas de Forton, Labour's, Alexander Spatari, I'm, Marcus Meijer, Mark, CNBC's, it's, James Myers, Oliver James, Myers, Knight Frank, Stuart Bailey, Knight Frank's, they're, Bailey Organizations: Old Bond, Pawel, Bank, Getty, Labour, Oxford Economics, Conservative, Investors, Britain, CNBC, Treasury, EMEA, Christie's, Estate, Henley & Partners, Monaco, London, Istock Locations: Old, Mayfair, London, United Kingdom, Monaco, Italy, Switzerland, Dubai, They're, Britain, Greece, Malta, Caribbean, Bahamas, Monte Carlo, Gibraltar, South Kensington, England

☆ India's ultra-wealthy club is booming — here's where the country's rich are investing
▼ + stars: | 2024-08-06 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +5 min

High-end real estateAbout 30% of India's UHNWI investments go into luxury real estate, including overseas projects, said Alok Saigal, president of wealth management firm Nuvama Private. People have moved away from investing in land as it is less liquid, and more wealth has been allocated to residential real estate since the pandemic, he added. Around 20% of Dubai's offshore real estate pie is owned by Indian investors. Startups' lureInvesting in startups is becoming increasingly popular, especially with the younger generation of rich Indians, wealth managers told CNBC. Bloomberg | Bloomberg | Getty ImagesAbout 17% of India's UHNWIs' wealth goes into luxury goods, with jewelry, art and watches as top preferences, findings from Knight Frank revealed.

Persons: Knight Frank, Alok Saigal, Alok, Chethan Shenoy, Anand, Saigal, Nitin Chengappa, India's, Chengappa, Anand Rathi Wealth's, LVMH Moet Hennessy Louis Organizations: Getty, India, Nuvama Private, Offshore, Nuvama, CNBC, Standard Chartered Bank, Shoppers, DLF, BMI, Bloomberg, Fitch Solutions, LVMH Moet Hennessy Louis Vuitton SA Locations: Mumbai, Beijing, New York, London, UHNWIs, Dubai, Delhi, New Delhi, India

☆ This real estate ETF is breaking out after going nowhere for a long time, according to the charts
▼ + stars: | 2024-07-31 | by ( Frank Cappelleri | ) www.cnbc.com time to read: +3 min

The Real Estate Select Sector ETF (XLRE) is the worst performing sector ETF in 2024, up about 3.5% right now. The ETF is net-flat going all the way back to September '22. But, it has been the best sector ETF in July, with a monthly gain of nearly 8%. The answer is a resounding yes… if the breakout in the SPDR S & P Homebuilders ETF (XHB) to new highs is any indication. And if rates are going to keep declining, then XLRE will have a strong tailwind to potentially catch up to XHB once again.

Persons: XLRE hasn't, XLRE, XHB, Frank Cappelleri Organizations: Federal Reserve, CNBC, NBC UNIVERSAL

☆ The Arizona primary where the MAGA movement is devouring itself
▼ + stars: | 2024-07-08 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +18 min

"He is running a very bigoted race," Hamadeh told me of Masters, "and MAGA and the America First movement is bigger than that." An anti-Hamadeh yard sign, paid for by the Masters campaign, beside one of Hamadeh's own signs in the 8th district. "This guy, he lost against Mark Kelly because he's a weirdo," Hamadeh told me. "I think that warrants some investigative journalism," Hamadeh told me. "I can't vote for you," one woman, apparently not a prospective constituent, told Hamadeh as she shook hands with him after the event, "but I'll give you a donation."

Persons: Abe Hamadeh, Hamadeh, I've, He's, Donald Trump, Kari Lake, MAGA, Blake Masters, Peter Thiel protégé, who's, It's, Bryan Metzger, Ben Toma, Debbie Lesko, Sen, Anthony Kern, There's, Trent Franks, Israel, there's, Lesko, —, Abraham, Abe, Ron Paul, Prophet Muhammad, Jesus, fashioning, he's, Trent, They're, MAGA bromides, JD Vance, Ohio, Masters, Vance, Ted Kacynski, Blake, Mark Kelly, Kari, Brandon Bell, Trump, Clarence Thomas, Thiel, Hamadeh's, Arizona Republic —, Rebecca Noble, Toma Organizations: Service, Republican, GOP, Arizona, Capitol, Trump, Masters, Supreme, Daily, University of, Maricopa County Attorney's, US Army Reserve, Republican Party, Senate, Sun City, Justice, Republicans, Sun City West, Stanford University, FBI, Thiel Capital, Fox News, Arizona Republic, Sun, Arizona House Locations: Phoenix, Arab American, Arizona, America, Tucson, North Phoenix, Washington, There's, Maricopa County, Mecca, Chicago, Skokie, United States, Saudi Arabia, Jerusalem, Istanbul, Vatican, Thailand, Japan, Sun City, crazies, Scottsdale, it's

☆ Billionaire Frank McCourt's TikTok bid wins key backer as he looks past app's prized algorithm
▼ + stars: | 2024-06-06 | by ( Emily Wilkins | ) www.cnbc.com time to read: +1 min

Frank McCourt, civic entrepreneur, executive chairman of McCourt Global and founder of Project Liberty, speaks at The Wall Street Journal’s Future of Everything Festival in New York City, U.S., May 22, 2024. "I don't want to be the CEO of a social media platform. His pitch has drawn a key group: Parents whose children died after being influenced by social media or bullied on various platforms. He founded the non-profit Project Liberty to build a healthier version of social media. Project Liberty is working with Guggenheim Securities and law firm Kirkland & Ellis to buy the viral video platform.

Persons: Frank McCourt, McCourt, Frank's, Sam Chapman, Sammy, Chapman, Kirkland, Ellis Organizations: McCourt Global, Project Liberty, Everything, Liberty, Guggenheim Securities Locations: New York City, U.S

☆ After 3 years in Thailand, I moved back to New York. It didn't feel like home anymore, so I took off again.
▼ + stars: | 2024-05-16 | by ( Elizabeth Lavis | ) www.businessinsider.com time to read: +6 min

Read previewAs I tucked into a bowl of wisp-thin Thai rice noodles studded with bok choy and sprinkled with fried garlic, all I could do was wax poetic about Buffalo wings. My favorite basket always came from a local dive bar in Western New York, 15 miles from Niagara Falls. I missed reliable transportation, manageable bugs, the change of seasons, my friends and family, and the Great Lakes comfort food I'd been pining for. I even realized that my definition of comfort food had changed. AdvertisementWhen I left for Thailand almost a decade ago, I imagined that I'd be going back to my "real life" after six months.

Persons: —, bok choy, Chang, Garth Brooks, Reuben, Koh Samui, I'd, who's, Uber, Costa Rica Elizabeth Lavis, gallo pinto Organizations: Service, Business Locations: Western New York, Niagara Falls, Thailand, Buffalo, Gulf, Thai, Laos, Costa Rica, Coast, Linzano, Bangkok

☆ Inside Wealth Newsletter
▼ + stars: | 2024-04-24 | by ( ) www.cnbc.com time to read: +1 min

Inside Wealth newsletter with Robert Frank is your weekly guide to high-net-worth investors and the industries that serve them. Through data analysis, insights, news, and exclusive interviews, Inside Wealth will "follow the money" of the global wealthy – how they make, invest, spend, and give it away. Subscribe to Inside Wealth TodayWhy Subscribe? Expert Analysis: Benefit from Robert Frank's deep understanding of the wealth sector, delivered straight to your inbox. Whether you're a private investor, a professional in the wealth management industry, or fascinated by the ultra-wealthy, the Inside Wealth newsletter is your way of staying connected.

Persons: Robert Frank, Robert Frank's

☆ Inside chef Duff Goldman's fridge, from the salads helping him lose 47 pounds to his current Costco buys
▼ + stars: | 2024-03-13 | by ( Lizzy Briskin | ) www.businessinsider.com time to read: +7 min

Celebrity chef Duff Goldman lives with his wife and 3-year-old daughter in California. A peek inside Duff Goldman's fridge. Chilling cookie doughIt's no surprise to find cookie dough in Duff Goldman's fridge. Toom garlic dipToom is one of Duff Goldman's go-to dips. Toom Garlic Dip, Tyler Le/BIA bit hidden in Goldman's fridge is a highlighter-yellow tub of Toom garlic dip.

Persons: Duff Goldman, Goldman, —, you've, Johnna, Duff, Jennifer Aniston, he's, I've, Tyler Le, yolks, — Goldman, Duff Goldman's, Kirkland Organizations: Service, Charm, Goldman, Costco, Kirkland Locations: California, Ventura County , California, Italian, West Coast, Buffalo

Among high-income earners, Gen Z is most confident in their ability to get richer. Gen Z women are particularly confident in their ability to create wealth. The rest of Gen Z may not share this confidence. AdvertisementIt seems the rich are confident that they will be able to build wealth, and the affluent side of Gen Z is no exception. A gender breakdown reveals that 81% of high-net-worth Gen Z women, versus 69% of high-net-worth Gen Z men, expect to see their money grow — a deviation from the overall trend, which saw men more likely to indicate that their money would increase.

Persons: Gen, Knight Frank, Knight Frank's, millennials, Rich millennials Organizations: Liberty Street, Federal Reserve Bank of New, Business Locations: Federal Reserve Bank of New York

☆ How much wealth do you need to join the 1% club in your country?
▼ + stars: | 2024-02-29 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +1 min

The entry barriers to the 1% rich club have been getting tougher across the world. Here's how much you need to join the ranks of the wealthiest people in your country. Second in line is Luxembourg, which has an entry requirement of $10.8 million, followed by Switzerland at $8.5 million. At $5.2 million, Singapore is fifth globally and leads the Asia-Pacific region in terms of the wealth needed to break into the elite club. The two are offering tax incentives and business-friendly regulations to attract 1,100 family offices that manage over $4 trillion in assets.

Persons: Monaco, Knight Frank Organizations: Empire, Hudson Locations: Manhattan, New York City, U.S, Luxembourg, Switzerland, Singapore, Asia, Pacific, Hong Kong

☆ Almost 630,000 people worldwide are now worth at least $30 million, Knight Frank says
▼ + stars: | 2024-02-28 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +1 min

Knight Frank's new wealth report shows that about 70 people a day became uber-rich last year. The total number of people worth at least $30 million rose by 4.2% to about 627,000 worldwide. AdvertisementAlmost 70 people a day joined the ranks of the uber-wealthy last year, Knight Frank has revealed. A net worth of at least $30 million is required to be classed as a UHNWI. However, it only takes $5.8 million to rank in the top 1% of wealthy Americans, Knight Frank said.

Persons: Knight, —, Knight Frank Organizations: Service, Business

☆ Queen of the skyscrapers Darcy Stacom to leave property giant CBRE
▼ + stars: | 2024-02-06 | by ( Daniel Geiger | ) www.businessinsider.com time to read: +5 min

"After more than 20 years at CBRE Darcy Stacom has decided to leave the company at the end of March to launch her own commercial real estate firm, and we wish her well with her new endeavor," the email read. The end of Stacom's tenure reflects sweeping challenges and generational shifts in commercial real estate. And in 2018, Stacom represented Google in its $2.4 billion acquisition of a new office property overlooking the Hudson River. "She's had an unbelievable career," said Jon Mechanic, chairman of the law firm Fried Frank's real estate practice, who has worked with Stacom on countless deals. The person did not want to be identified because they had not been authorized by CBRE to speak about Stacom's exit.

Persons: Darcy Stacom, Matthew Van Buren, Chris Ludeman, CBRE Darcy Stacom, Stacom, Paul Massey, Stacom's, Peter Cooper, Zhang Xin, She's, Jon Mechanic, Fried, Adam Spies, Doug Harmon, Newmark, CBRE, Doug Middleton Organizations: Skyscrapers, New, State, Business, CBRE, Real, Advisors, Stuyvesant Town, General, Google, New York Locations: New York, CBRE's Tri, New York City, CBRE, Stuyvesant, Hudson

☆ Book banning Moms for Liberty just got canceled by US voters
▼ + stars: | 2023-11-11 | by ( Rebecca Rommen | ) www.businessinsider.com time to read: +3 min

Conservative organization Moms for Liberty faced major setbacks in state and school board elections. Candidates endorsed by the organization suffered widespread defeats, this week. With over 130 endorsed candidates nationwide, most faced losses, some with single-digit support. New Jersey saw only four out of 19 endorsed candidates winning. In April, a Florida school banned an adaptation of Anne Frank's Holocaust diary because Moms for Liberty deemed it "sexually explicit."

Persons: —, Nathan Gibson, Ron DeSantis, Anne Frank's, Ohioans Organizations: Liberty, Service, Washington Post, Ohio, Gov, Republican Party, Senate Locations: Iowa, Minnesota, Washington, . New Jersey, Virginia, Florida

☆ A beginner's guide to investing in art — that won't break the bank
▼ + stars: | 2023-11-09 | by ( Lucy Handley | ) www.cnbc.com time to read: +10 min

Will Ramsay, founder and CEO of the Affordable Art Fair, which puts on exhibits worldwide, said collecting art is easier than people might think. However, contemporary art is likely to increase in value over the long term, Diament said. There's also a satisfaction in buying something from a living artist, Diament said. "Some people like color, other people like to focus on drawings without color … you have people who collect just one artist," Taylor said. Provenance — which refers to the history and ownership of a piece — is often an important consideration when buying art.

Persons: Nicholas Bowlby, Puja Bhatia, You've, Karen Taylor, Taylor, Maria Artool, Will Ramsay, Robert Diament, Diament, you'll, Tracey Emin, Carlotta Cardana, There's, Knight Frank, Knight, Ramsay, Eileen Agar, Jeff Spicer, George Romney, Voltaire, Magda Archer, Ella Kruglyanskaya, Carl Freedman, Benjamin Senior, Richard Parkes Bonington, Judith Burrows, he'd, It's, Artool, Isabelle Paagman, Sotheby's, Paagman, Shepard Fairey Organizations: CNBC, Fair, of, Bloomberg, Getty, Knight, Investment, Art Market Research, Whitechapel Gallery, Art, San, Wallace Locations: London, U.K, British, Austin, Berlin, Brisbane, Latvian, Britain, Venice, American, Europe, Italy, Paris, France

☆ Knight Frank expects Hong Kong property prices to fall 5% in the second half of 2023
▼ + stars: | 2023-10-25 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailKnight Frank expects Hong Kong property prices to fall 5% in the second half of 2023Martin Wong, Knight Frank's head of research and consultancy for Greater China, says he expects them to fall by another 5% in 2024. He adds that high interest rates in the city will likely persist for another 12 to 15 months.

Persons: Knight Frank, Martin Wong, Knight Frank's Locations: Hong Kong, Greater China

☆ Charlie Javice, who faces charges after JP Morgan said she defrauded them out of $175 million, says US prosecutors are using 'cherry-picked' evidence to help their case
▼ + stars: | 2023-10-15 | by ( Katie Hawkinson | Jack Newsham | ) www.businessinsider.com time to read: +3 min

Charlie Javice says JP Morgan is withholding thousands of documents that could help her case. Javice is facing federal charges after JP Morgan claimed she defrauded them out of $175 million. Now, the 31-year-old claims JP Morgan has failed to produce "likely thousands" of documents that could help her defense. In April, the federal prosecutors charged Javice with making false claims and submitting false data to JP Morgan after the bank acquired Frank for $175 million. AdvertisementAdvertisementProsecutors said Javice lied to JP Morgan about the number of people relying on her company.

Persons: Charlie Javice, Morgan, Javice, JP Morgan, —, Frank, Slack, Damian Williams, Prosecutors, Mark Kantrowitz, Kantrowitz Organizations: Service, Department of Justice, JP, Federal Student Aid, Justice

☆ Otis and Jean's 'Sex Education' house could now be yours for $1.8 million — take a look inside
▼ + stars: | 2023-10-08 | by ( Polly Thompson | ) www.businessinsider.com time to read: +1 min

The $1.8 million property offers views of the Wye Valley, which sits on the England-Wales border. Take a look inside the stunning home. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementAdvertisementThe iconic house from the hit Netflix show "Sex Education" has gone on the market for £1.5 million, or around $1.8 million. Take a look inside.

Persons: —, Knight Frank's, Otis, Asa Butterfield Organizations: Netflix, Service Locations: Wye, England, Wales, Norwegian, Symonds

☆ Japan’s property sector sees ‘golden period’ as foreign investments surge 45%
▼ + stars: | 2023-10-04 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +4 min

Bloomberg | Bloomberg | Getty ImagesForeign investments into Japan's real estate sector have been flourishing in the past year, buoyed by a weak Japanese yen as the country's central bank maintains its ultra-loose monetary policy. "It is a golden period of Japanese real estate," Henry Chin, head of Asia-Pacific research at CBRE, told CNBC. Foreign investors almost doubled their investment from a year ago to $2 billion in the first quarter of the year, the global real estate services company noted. According to latest data provided by CBRE, total foreign investments into Japan's real estate market has risen 45% in the first half of 2023, compared to the same period last year. The solid rebound in Japan's tourism sector following the ease in border restrictions has sparked a rise in hotel occupancies and hospitality investments, Knight Frank said in a recent September note.

Persons: Henry Chin, Chin, Koji Nato, JLL, Knight Frank, CBRE's Chin, Knight Frank's, Christine Li, David Madison Organizations: Bloomberg, Getty, CNBC, Nato LL's, Capital Markets, U.S, APAC Locations: Tokyo, Japan, Asia, Pacific, Osaka, Singapore, U.S, Canada, Magome

☆ A US astronaut involuntarily set a record for time spent in orbit, after his mission home was aborted and added 6 months to his trip
▼ + stars: | 2023-09-28 | by ( Marianne Guenot | ) www.businessinsider.com time to read: +4 min

US astronaut Frank Rubio landed back on Earth Wednesday after 371 days in space. AdvertisementAdvertisementUS astronaut Frank Rubio became an unwilling record-holder after spending 371 days on the International Space Station (ISS), the longest time spent on a single spaceflight by any NASA astronaut. A broken ride extended the missionRubio set off for the ISS on the Soyuz MS-22 spacecraft on September 21, 2022. With his flight, Rubio beat the previous US record-holder Mark Vande Hei, who spent 355 days in space. Russian cosmonaut Valeri Polyakov spent 437 days aboard the Mir space station in the 1990s.

Persons: Frank Rubio, —, Rubio, wouldn't, Sergey Prokopyev, Dmitri Petelin, It's, Mark Vande Hei, Valeri Polyakov, Thomas Pesquet, NASA Rubio, Bill Nelson, Nelson Organizations: Service, Space, NASA, Soyuz, CNN, Ars Technica, SpaceX, ISS Locations: Russian, French, USA

☆ Chinese property sales for private developers have been 'quite dismal,' Knight Frank says
▼ + stars: | 2023-09-25 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChinese property sales for private developers have been 'quite dismal,' Knight Frank saysChristine Li, Knight Frank's Asia-Pacific head of research, says Country Garden "won't be the last" in the real estate sector to face default risks.

Persons: Knight Frank, Christine Li, Knight Frank's Locations: Knight Frank's Asia, Pacific

☆ US charges second Frank college aid executive with defrauding JPMorgan
▼ + stars: | 2023-07-12 | by ( Luc Cohen | Thomson Reuters | Reports On The New York Federal Courts. Previously Worked As A Correspondent In Venezuela | ) www.reuters.com time to read: +1 min

Companies JPMorgan Chase & Co FollowNEW YORK, July 12 (Reuters) - U.S. prosecutors on Wednesday unveiled an indictment charging Olivier Amar, who helped run college financial aid startup Frank, with defrauding JPMorgan Chase (JPM.N) into buying their company for $175 million. Amar, who was Frank's chief growth officer, was charged with wire fraud, bank fraud, securities fraud and conspiracy, becoming the second company official indicted in the case. Lawyers for Amar, whose whereabouts were not immediately known, did not immediately respond to a request for comment. A spokesman for the U.S. Attorney's office in Manhattan also did not immediately respond to a request for comment. The bank shut down Frank in January, and Chief Executive Jamie Dimon branded the acquisition a "huge mistake."

Persons: Olivier Amar, Amar, Frank, Charlie Javice, Javice, Jamie Dimon, counterclaims, Luc Cohen, Bill Berkrot Organizations: JPMorgan Chase, U.S, JPMorgan, Thomson Locations: Manhattan, U.S, Amar, Delaware, New York

MediaNews Group | The Riverside Press-Enterprise via Getty ImagesOf the many acts that can get an Amazon merchant kicked off the site, few are as devastating as selling stolen goods. But suspended sellers, who spent years building their businesses on Amazon, told CNBC they had no idea they were selling stolen products. In an email to CNBC, Amazon said it's working with authorities and doesn't comment "on matters that are the subject of active law enforcement investigations." Tracing the stolen goods supply chainIn tracing the supply chain for suspended sellers, some patterns started to emerge. "Chances are stolen goods or similar ASINs/serial numbers are being bled in to every supply line," the employee wrote.

Persons: Levoit humidifiers, Frank —, Frank, Kenzo Sobrie, Dyson, blenders, they'd, Joe Quinlivan, Sellers, they've, Chris McCabe, Ricky Sala, what's, Sala, he'd, Tien Ngo, Ngo, Stride, Daniel Acker, ASINs, Armen Babayan, illicitly, Babayan, KZ, Juniper, couldn't, Cameron Webb, Kevin Cole, didn't, He's, Sobrie Organizations: MediaNews, Riverside Press, Enterprise, Getty, Amazon, CNBC, Retailers, LG, KZ International, California, Patrol, KZ, CHP, Amazon.com Inc, Amazon Robotics, Bloomberg, Oregon Prep Center, Facebook, FBI, Washington State Office, Ngo Wholesale Distributors, Ngo, Co, Wholesale, Los, Juniper Holdings, Telegram Locations: Eastvale , California, KZ's, Huntington Beach , California, Westborough , Massachusetts, Los Angeles, Miami, The Miami, New York, Washington, Santa Fe Springs, Los Angeles County, Garden Grove, Orange County, California, Huntington Beach, California , Florida, New Jersey

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