Substance Use-Related Heart Disease Deaths Skyrocketed Over Past 20 Years, Study Finds - Forbes | How Auditor Deloitte Missed A Nigerian Company’s Massive Fraud - Forbes | How A London-Based VC Quietly Brokered Roman Abramovich’s Startup Investments - Forbes | Indonesian Billionaire Prajogo Pangestu’s Skyrocketing Wealth Drops Over $11 Billion In One Day

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� � � � � � You Might Like � � � � � � � � � Substance Use-Related Heart Disease Deaths Skyrocketed Over Past 20 Years, Study Finds - Forbes (Full Access)    A new study found substance use-related heart disease deaths increased annually between 1999 and 2019, and women, Native Americans and Alaskans, those in rural communities and adults between 25 and 49 were among the most vulnerable groups. Substance use-related cardiovascular disease deaths more than doubled between 1999 and 2019, despite overall cardiovascular disease deaths decreasing by 25%, according to a new study published Tuesday in the Journal of the American Heart Association. These increases were more notable in those who used psychostimulants like cocaine (16.8), and cannabis (12.7%), as well as among American Indians or Alaskans (5.4%), adults between 25 and 49 (5.3%), people in rural areas (5%) and women (4.8%), though overall there were more deaths in men. Continued here � � � � � � You Might Like � � � � � � � � � How Auditor Deloitte Missed A Nigerian Company's Massive Fraud - Forbes (Full Access)    Hindenburg Research, known for sniffing out corporate scams, took aim in June at an obscure Nigeria-based outfit named Tingo Group. Hindenburg rolled out a report with a title that left little to the imagination: "Fake Farmers, Phones, and Financials - The Nigerian Empire That Isn't." But Hindenburg didn't just call Tingo a clear-cut scam. The short-seller also threw a spotlight on the auditor who green-lit Tingo's financials, challenging its competence, and perhaps its willingness, to see the truth. "The issues in Tingo's financials are glaring enough that we'd expect they could have been spotted by any semi-conscious finance undergrad with severe vision loss," Hindenburg wrote. "These issues were apparently not glaring enough for the company's auditor, however." The auditor in question was Deloitte, the behemoth Big Four accounting firm with annual revenue of $65 billion through a global network that stretches from Amsterdam to Zhengzhou. Continued here � � � � � � You Might Like � � � � � � � � � Don't like ads? Go ad-free with TradeBriefs Premium How A London-Based VC Quietly Brokered Roman Abramovich's Startup Investments - Forbes (Full Access)    Russian oligarch Roman Abramovich quietly invested $63 million in a string of European startups through his relationship with London-based venture firm Target Global, according to a cache of documents reviewed by Forbes. The venture capital fund, which has raised over $3.2 billion of capital and backed at least 15 European tech unicorns including fintech Revolut and car marketplace Cazoo, counted on Abramovich as a co-investor and limited partner from 2015 to 2021, the documents show. The U.K. later sanctioned the oligarch in March 2022 over Russia’s invasion of Ukraine. The previously unreported investments appear in leaked documents from Meritservus, a Cyprus-based offshore service provider, that were shared anonymously with the Organized Crime and Corruption Reporting Project (OCCRP) and its partners, including Forbes. The documents reveal the inner workings of Abramovich’s relationship with Target Global, which was cofounded by the son of another now-sanctioned oligarch Aleksandr Frolov. The documents show that Abramovich invested over $63 million either as a limited partner or through specific companies that Target Global introduced for investments between 2015 and 2021. In 2018, Abramovich invested $25 million as an “anchor” limited partner in one of Target’s earliest funds, Target Global Mobility 2.0, according to a subscription document for the fund. That check accounted for around a fifth of the total assets of the $132 million fund, according to investment database Preqin. Continued here � � � � � � You Might Like � � � � � � � � � Indonesian Billionaire Prajogo Pangestu's Skyrocketing Wealth Drops Over $11 Billion In One Day - Forbes (Full Access)    It was a troubling Tuesday for Indonesian billionaire Prajogo Pangestu. The petrochemicals and energy magnate's fortune fell more than a fifth or $11.4 billion in a single day as shares of his Barito Renewables Energy and Chandra Asri Pacific (formerly Chandra Asri Petrochemical) tumbled 20% each to 5,400 rupiah ($0.35) and 4,220 respectively. His net worth now stands at $42.1 billion, down from $53.5 billion a day ago. Despite the massive drop, Pangestu remains the country's richest individual. The decline in the stock prices of the two companies that go with ticker codes BREN and TPIA, reflects a change in investor sentiment, say analysts. "Both BREN and TPIA are in an overbought area and shares fell when investors saw an opportunity for profit-taking," says Ezaridho Ibnutama, an analyst at Henan Putihrai Sekuritas. Ibnutama says the current share prices of both companies are overvalued, despite the promising outlook based on their current expansion plans. "They are overvalued if we see the current matrix, but it is not (overvalued) if we see with the forecasted matrix, considering the contribution and the scale when their future projects are finished." Ibnutama predicts that the shares will rebound by the end of the first quarter of 2024 to 5,300 rupiah and 6,800 rupiah respectively. Even at the lower price, Barito Renewables is trading at a 592% premium to its October listing price and at a lofty price to earnings multiple of close to 447 times. Continued here

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