Fraud

Lance Armstrong and his company, Tailwind Sports, have been sued by SCA Promotions Inc. in Dallas with SCA claiming that gave Armstrong $12.1 millions dollars for his wins at the Tour de France, wins he has since been stripped of following a doping scandal that Armstrong recently admitted to with Oprah Winfrey.

The money was awarded to Armstrong by SCA for his 2002, 2003 and 2004 wins.

Among the claims by SCA, they claim that Armstrong has brought discredit to their organization.

The University of Pennsylvania has kept a low profile over accusations that its Vice Dean of the graduate school of education, Doug Lynch, faked his Masters and PhD degrees saying they were from Columbia University.

Following an investigation by the Philadelphia Inquirer, the results shows that he in fact did not receive a Masters degree in 2005 from the prestigious Ivy league school, nor his PhD from anywhere in 2007 in which he claimed he did when he joined UPenn. Lynch was working on his doctoral degree, but not at Columbia University.

Five of the nation's largest banks, Bank of America, JPMorgan Chase, Wells Fargo, Citibank and Ally Financial, have agreed to a $25 billion settlement deal over wrongful or unfair foreclosure practices that will now be sent to attorney generals in each state for review an approval.

The deal, if approved by the states, will reshape the mortgage industry and will offer at most about $1,800 to each homeowner who went into foreclosure, and it will make it easier for current homeowners to write down the principle of their mortgage or get loan modifications.

Moscow, Russia -

Vladimir Putin is widely believed to be the winner in the upcoming presidential elections in Russia. However, his party, United Russia, won only a slim majority in the Duma which will force his party to make political alliances with other groups to pass any constitutional changes or make significant laws.