NEWS & INSIGHTS
INTEGRA IN THE NEWS
Trading on US Election Guesswork Kicks into Overdrive
October 29, 2024
This article examines the impact of the US election on financial markets and explores potential future market trends following the 2024 election. Using Dr. Griffin's research on the AAA rating system and its market effects, the article discusses possible ramifications for the post-2024 election market.
The Commercial Real Estate Crash Is Battering Even the Safest Bonds
October 28, 2024
The article examines the rapid decline in the commercial mortgage-backed securities (CMBS) market, specifically highlighting the vulnerability of single-asset, single-borrower (SASB) bonds. Once seen as secure investments, these bonds—often backed by prominent office properties like 1407 Broadway—are now struggling as remote work and economic downturns reduce property values. Creditors are seeing unprecedented losses, including on AAA-rated assets, as properties face foreclosure. Analysts suggest that rating agencies may need to reassess their approach to AAA ratings for single-building bonds amid these mounting risks.
Fraudulent Skilled Nursing Facilities Linked to Increased Patient Deaths
October 18, 2024
A report from University of Texas researchers found that patients cared for in the "opportunistic" Skilled Nursing Facilities (SNFs) the authors reviewed suffered worse health outcomes as these companies sought to increase revenue, overbilling Medicare by $4.3 billion since the current billing regime was implemented in 2019.
Nursing home fraud bumps risk of patient neglect and death: study
October 17, 2024
A report from University of Texas researchers shows that skilled nursing facilities that engage in fraudulent Medicare billing practices are associated with significantly worse patient outcomes, including increased preventable conditions, hospitalizations, and deaths. These facilities prioritize profit maximization over patient well-being, leading to neglect, understaffing, and substandard care. This pattern highlights the urgent need for greater oversight and accountability in the skilled nursing industry to protect vulnerable patients.
New study links fraud in nursing homes to patient suffering, death
October 15, 2024
The article discusses a new study by Dr. John Griffin and researchers at the University of Rochester that reveals widespread fraud in nursing homes, linking these practices to worsened patient outcomes. Operators falsified Medicaid claims and cut staff, leading to inadequate care and increased mortality rates. New York was identified as a hotspot for this fraud, with many operators expanding across the U.S. despite facing negligible fines. The study calls for stricter enforcement and potential criminal penalties to curb the exploitation in the nursing home industry.
When the Bitcoin Scammers Came for Me
September 5, 2024
The article discusses the increasing scrutiny of cryptocurrency transactions and their potential links to illicit activities, including human trafficking. It highlights the role of financial regulators and law enforcement agencies in tracking and combating these illegal activities. The piece emphasizes the importance of transparency and regulation in the cryptocurrency market to prevent its misuse.
Professor Griffin’s quote underscores the gravity of the situation: “The anonymity provided by cryptocurrencies makes them an attractive option for criminals. It’s crucial that we implement stringent measures to trace and regulate these transactions to curb their use in financing slavery and other illegal activities.”
Pig-Butchering Scams Net More Than $75 Billion, Study Finds
February 29, 2024
A recent study by Dr. John Griffin and Kevin Mei reveals that over $75 billion has been stolen in pig-butchering scams worldwide. These scams, run by organized criminal networks in Southeast Asia, trick victims into fake crypto investments. Using stablecoins like Tether, scammers obscure the flow of funds, making it harder to trace. The research also shows that exchanges like Binance have played a role in laundering these stolen funds.
New Study Estimates as Much as $75 Billion in Global Victims’ Losses to Pig-Butchering Scam
February 29, 2024
A recent study estimates that pig-butchering scams have stolen over $75 billion globally, a much higher figure than previously thought. Researchers John Griffin and Kevin Mei used blockchain tracing to follow funds from thousands of victims to scammers, many of whom operate from Southeast Asia, often as victims of human trafficking themselves. While exchanges like Tether and Binance have sometimes cooperated with authorities to freeze fraudulent accounts, the sheer scale and sophistication of these scams allow them to funnel massive sums through the crypto system largely undetected.
Biggest Crypto Coin Sale Fueled by ‘Pump’ Scheme, Research Says
September 2, 2021
Bloomberg highlighted Integra's work in crypto assets in a 2021 article. Integra identified suspicious trades from 21 accounts that repeatedly purchased the EOS token during the EOS ICO, thereby seemingly creating artificial demand for EOS in the largest ICO in history.
Maggots, Rape, and Yet Five Stars: How U.S. Ratings of Nursing Homes Mislead the Public
March 13, 2021
Research from Integra's sister company, Integra Med Analytics, made the front page of the New York Times as Jessica Silver-Greenberg and Robert Gebeloff investigated abuse of nursing home patients. Integra's work suggests nursing homes underreported serious health conditions, illustrating the need for accountability in nursing facilities.
The Looming Bank Collapse
August 2020
An Atlantic article written by Frank Partnoy details a possible failure of US banks. Partnoy parallels the dependence on CLOs to that of CDOs just prior to the financial crisis of 2008. In this work, Partnoy cites Dr. John Griffin, President of Integra FEC.
15% of Paycheck Protection Program Loans Could Be Fraudulent, Study Shows
August 17, 2021
The New York Times took notice when Dr. John Griffin and his co-authors released the initial version of "Did FinTech Lenders Facilitate PPP Fraud?". The paper shed light on FinTech lenders eager to give out loans, whether that loan money went to small businesses in need or fraudsters out to make quick cash.
RESEARCH PAPERS
Were ETH and EOS Repeatedly Recycled during the EOS Initial Coin Offering?
Through forensic investigation led by Integra President Dr. John Griffin, Integra flagged investors engaging in potentially unusual circular trading patterns. The flagged accounts on the Ethereum blockchain repeatedly sent Ether, a token, from exchanges to buy EOS at the crowdsale wallet, and then quickly returned EOS to the same exchanges. In total, the flagged accounts contributed 1.2 million ETH ($815 million USD) to what was then the largest ICO in history (which raised 7.4 million Ether - $4.4 billion USD - between June 26, 2017 and July 1, 2018).
Underreporting in Nursing Home Quality Measures
Research conducted by Integra Med Analytics, a sister company of Integra FEC, finds that Medicare-certified nursing homes often underreport health quality measures. Integra Med Analytics' research compares self-reported publicly available Skilled Nursing Facility (“SNF”) quality measures from The Centers for Medicare & Medicaid Services ("CMS") to Medicare hospital claims data. Integra's analysis indicates that self-reported nursing home quality measures are often under-reported or unrelated to hospital data. Self-reported nursing home measures for pressure ulcers, urinary tract infections, and falls are uncorrelated with similar measures derived from hospital claims data.
