Federal agents searched nearly two dozen stores across the Twin Cities metro area on Thursday in a crackdown on retailers suspected of misusing SNAP benefits.
The U.S. Department of Agriculture said agents carried out criminal search warrants at multiple SNAP retail locations in the Twin Cities as part of “Operation Cold Snap.” Evidence seized during the searches is still being reviewed.
Agents are targeting retailers suspected of fraudulently trafficking SNAP benefits, the USDA said, an act that can include allowing customers to use food stamps to buy items like tobacco or alcohol.
So far, 20 retailers have been served with charging letters alleging program violations, according to the USDA. If those charges are proven, the businesses could be removed from the SNAP program and face additional penalties.
Federal officials haven’t yet released details on which retailers are being…
Investment fraud targets the human desire for financial growth by promising high returns with “low to no risk.”
- Ponzi Schemes: Named after Charles Ponzi, these schemes pay “returns” to earlier investors using the capital brought in by newer investors. There is no actual underlying business; the system collapses when new recruitment slows down.
- Pyramid Schemes: Similar to Ponzi schemes, but participants are usually required to sell a product or service. The primary “profit” comes from the recruitment fees of new members rather than actual product sales.
- Pump and Dump: Fraudsters spread false, positive rumors about a cheap stock (the “pump”) to drive up the price. Once the price peaks, they sell their shares (the “dump”), leaving other investors with worthless stock.