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Ed Shin Posed as Dead Business Partner Chris Smith
Handsome businessman Chris Smith seemed to have it all: a successful business, a beautiful girlfriend and a relaxed lifestyle in California.
But in the summer of 2010, Chris apparently left his old life behind, selling his stake in his business, breaking up with his girlfriend via text message and setting off on a sailing trip around the world, according to Dateline: Unforgettable.
For six months, Chris’s family received a series of emails from the jet-setter, detailing his adventures alongside a Playboy playmate as they traveled from one exotic location to another.
But when the emails came to an abrupt end and Chris’s family contacted the U.S. State Department to investigate their son’s whereabouts, they made a chilling discovery: Chris had never left the United States. Instead, he had met a grim fate months earlier. by a cunning and heartless killer, who later assumed the identity of the dead man to deceive his close-knit family for months.
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“For a family, a thinking and caring family, it was like a year in a house of illusions,” Correspondent Keith Morrison commented.
Who was Chris Smith?
Chris has always been a creative and independent thinker who loved the outdoors and surfing.
“He was one of those people who thought anything was possible,” recalled his brother Paul Smith.
After a stint at community college, Chris found success as an entrepreneur in California’s booming tech world, focusing on advertising.
In 2009, Chris was looking for his next adventure and moved to Laguna Beach, California, where he joined Ed Shin to create 800XChange, a lead generation company.
In many ways, the business partners seemed like polar opposites. While Chris was a laid-back single guy who spent his free time catching the next wave, Shin was a married father of four and a faithful churchgoer.
However, together, the business prospered. Chris began seeing a beautiful girl, who he confessed to his family could be “the one.”
Chris Smith’s emails to family
Then, in June 2010, Chris apparently changed course abruptly. He broke up with his girlfriend via text message and sent an email to his family, saying he had sold his share of the business and was embarking on a three-week sailing trip to the Galapagos Islands and Costa Rica.
Chris’s family were surprised, but he had always been impulsive and, according to Paul, seemed “very stressed” in the weeks leading up to the life-changing decision.
“I wanted the best for him, whatever decision he made,” Paul said.
Chris told his family in emails that he had taken the trip with a Playboy co-star — a detail that struck them as odd. As the weeks passed, Chris sent emails saying he had decided to extend his trip, traveling through South America and heading to Africa.
In a final email sent on December 26, 2010, Chris told his family that he planned to embark on a dangerous plan to sell his gold Krugerrands to a dealer in Rwanda who would pay “30% more.”
“It’s just like this out here [expletive] as real currency,” he wrote.
Paul admitted that he believed his brother had “lost his mind” in carrying out such a dangerous plan and began to suspect that something was not right.
Chris’s father, Steve — a former police officer — felt the same way, and when the emails stopped, he contacted the US State Department, hoping to track his son’s movements through his passport.
But Steve was surprised to learn that Chris’s passport had never been used and there was no evidence that he had ever left the United States.
Steve drove to Laguna Beach and spoke to Shin, who told him that Chris had used a fake passport to leave the country. However, something still didn’t feel right to Steve, so he decided to report his son missing to the Laguna Beach Police Department.
When detectives spoke to Shin, he told them that Chris wanted out of the business and had agreed to sell Shin his share of the business before he left on his trip. According to Shin, he kept in touch with Chris via email and even sent him money to India as part of a regular payment for his shares in the business.
“I don’t know where he is,” he insisted. “I mean, honestly, I think he’s on the other side of the world.”
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A crime scene is discovered
Shin’s claims began to unravel after private investigator Joe Dalu was asked to look into the situation by the manager of the property where 800XChange’s office was located.
The company had moved months earlier, leaving a large number of unpaid bills.
Dalu entered the office and was surprised to find what he thought was blood on a light switch and the door frame.
He called the Orange County Sheriff’s Department, which brought crime scene investigators.
They discovered even more blood, including a large dark stain on the concrete beneath the carpet. DNA tests would later reveal that the blood belonged to Chris.
Detectives also learned that at the time Chris disappeared, Shin was on probation for embezzling money from another company. If he didn’t pay $700,000 in restitution in the case, he would be sent to prison.
“Ed Shin is desperate, he has a lot of debt he’s paying off because of a criminal case and he has a wife and four children,” former Sergeant Ray Wert told Morrison.
Ed Shin’s Confession
Orange County detectives brought Shin in for questioning.
Initially, he denied knowing anything about Chris’s death, but after detectives told him they were arresting him for first-degree murder, Shin changed his story. He claimed that he had killed Chris in self-defense after a paranoid Chris attacked him in the office. Shin claimed that Chris fell and hit his head on the desk and died.
He then admitted to spending months posing as Chris online to throw his family off the scent.
However, prosecutors did not believe Shin’s story and believed that the married father had killed Chris in cold blood after Chris began to suspect that he might be stealing from the company.
“This case was about greed in its most diabolical and basic form,” said prosecutor Matt Murphy. “He killed a really nice guy for money so he could gamble in Vegas. But to then assume his identity online and torture his family like this, it’s horrific.”
He suggested to a jury in 2018 that Shin beat or stabbed Chris to death in his office before disposing of his body. Shin has never revealed the location of the body.
To throw everyone off the scent, just minutes after killing Chris, Shin sent an email posing as his dead business partner to a lawyer, falsely claiming that he had agreed to sell his shares in the company to Shin. With full control of the business, Shin was able to siphon off the money he needed.
Shin’s lawyers, however, once again claimed that Chris was killed in self-defense after attacking Shin in the office.
The jury took less than an hour to convict him of first-degree murder for financial gain.
Shin, who is now serving a life sentence behind bars, has still refused to give any information about the location of Chris’ body.
“There are some secrets a man is willing to give his life for,” Shin told Morrison ominously from behind bars.
The spotlight next week will shift somewhat to the Federal Reserve’s second-quarter earnings season and monetary policy. Market watchers will be treated to results from several major names, including Dow 30 components Goldman Sachs (GS), UnitedHealth (UNH), Johnson & Johnson (JNJ) and American Express (AXP), along with streaming giant Netflix (NFLX).
The Fed will still attract some attention as investors will be eager to hear from a packed lineup of central bank speakers just before the policy meeting lockout period.
In terms of the economic calendar, after fifteen days of labor market and inflation indicators, activity data will gain momentum in the form of the latest retail sales and industrial production reports.
Earnings Highlight: Monday, July 15 – Goldman Sachs (GS) and BlackRock (Black). See the full earnings calendar.
Earnings Highlight: Tuesday, July 16 – UnitedHealth (UNH), Bank of America (BAC), Progressive (PGR), Morgan Stanley (IN), PNC Financial (PNC) and JB Hunt Transport (JBHT). See the full earnings calendar.
Earnings Highlight: Wednesday, July 17 – Johnson & Johnson (JNJ), US Bancorp (USB), Morgan Children (KMI), United Airlines (UAL) and Ally Financial (ALLY). See the full earnings calendar.
Earnings Highlight: Thursday, July 18 – Netflix (NFLX), Abbott Laboratories (ABT), Black stone (BX), Domino’s pizza (ZDP) and Taiwan Semiconductor Manufacturing (TSM). See the full earnings calendar.
Earnings Highlight: Friday, July 19 – American Express (AXP), Halliburton (THANKS) and Travelers (VRT (return to recoverable value)) See the full earnings calendar.
IPO Observation: Hospital and healthcare clinic operator Ardent Health Partners (TARDT), insurance service provider Twfg (TWFG) and the biotechnology company Lirum Therapeutics (LRTX) are expected to price their IPOs and begin trading next week. The analyst quiet period ends at Rectitude (RECT) to free up analysts to publish ratings.
Police cars outside the residence of Thomas Matthew Crooks, the suspected shooter at a Trump rally on Saturday, investigate the area in Pennsylvania. Following the incident, one rally attendee was killed, two rally attendees are in critical condition and Donald Trump suffered a non-fatal gunshot wound. The shooter is dead after being shot dead by the United States Secret Service. (Photo by Kyle Mazza/Anadolu via Getty Images)
Investors will initially favor traditional safe-haven assets and may lean toward trades more closely tied to former President Donald Trump’s chances of winning the White House after he survived an assassination attempt, according to market watchers.
“There will undoubtedly be some protectionist or safe-haven flows into Asia early this morning,” said Nick Twidale, chief market analyst at ATFX Global Markets. “I suspect gold could test all-time highs, we’ll see the yen being bought and the dollar, and flows into Treasuries as well.”
Early market commentary suggested Trump’s shooting at a rally in Pennsylvania on Saturday could also prompt traders to increase his likelihood of success in the November election. His support for looser fiscal policy and higher tariffs is generally seen as likely to benefit the dollar and weaken Treasuries.
An indicator of market sentiment heading into the weekend: Bitcoin surged above $60,000, likely reflecting Trump’s pro-crypto stance.
Other assets positively linked to the so-called Trump trade include stocks of energy companies, private prisons, credit card companies and health insurers.
Traders will also be closely watching market measures of expected volatility on Monday, such as those in the tariff-sensitive Chinese yuan and Mexican peso, which have begun to price in the U.S. vote.
Trump said he was shot in the right ear after a shooting at his rally. His campaign said in a statement that he was “fine” after the incident, which prompted him to rush off the stage.
“Currencies will be the first major market on Monday in Asia to react to the weekend’s shots. There’s potential for extra volatility, and getting a clear reading could be especially difficult because liquidity will be hurt by Japan’s national holiday,” said Garfield Reynolds, Asia team leader for Bloomberg Markets Live.
Strategists had already expected a volatile run-up to the election, particularly as Democrats are still agonizing over President Joe Biden’s candidacy after his poor performance in last month’s debate raised questions about his age. Investors were also grappling with the possibility that the election could end in a drawn-out dispute or political violence.
But there is little precedent for events like those in Pennsylvania. When President Ronald Reagan was shot four decades ago, the stock market plunged before closing early. The next day, March 31, 1981, the S&P 500 rose more than 1% and benchmark 10-year Treasury yields fell 9 basis points to 13.13%, according to data compiled by Bloomberg.
Bond investors should pay particular attention as the attack is likely to boost Trump’s election chances and ultimately lead to concerns about the fiscal outlook, according to Marko Papic, chief strategist at California-based BCA Research Inc.
“The bond market must at some point become aware of President Trump’s greater chances of winning the White House than any of his rivals,” Papic wrote. “And I continue to believe that as his chances increase, so too must the likelihood of a bond market revolt.”
Kyle Rodda, senior financial markets analyst at Capital.com, said he was seeing client flows into Bitcoin and gold following the shooting.
“This news marks a turning point in American policy norms,” he said. “For markets, it means safe-haven trades, but more tilted toward non-traditional safe-havens.”
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Latest news on July 11, 2024: Airtel says its new Xstream Fiber plans bundle over 350 live TV channels (Official Photo) (Reuters) Disclaimer: This is an AI-generated live blog and has not been edited by Hindustan Times staff.
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News / Business / Latest Business News Live Updates Today, July 11, 2024
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Jio Financial share price: Should you buy this Reliance group stock on Monday ahead of Q1 FY2024 results?
Q1 2024 Results: Jio Financial Share Price will be in focus on Monday as the Reliance Group company has a fixed board meeting on July 15, 2024 to consider and approve the company’s unaudited standalone and consolidated financial results. Trust Group company informed about the Q1 2024 Results date on Wednesday last week via an exchange filing. According to stock market experts, Jio Financial Services Limited is poised to deliver impressive Q1 results for FY25 on solid operating income. They have forecast a healthy QoQ PAT for the company in Q1 FY25.
Jio Financial Services News
Speaking on the Jio Financial Services Q1 2024 results, Manish Chowdhury, Head of Research, StoxBox, said, “We believe Jio Financial Services is poised to deliver impressive results in Q1FY25 aided by its operating income, which is likely to show robust growth driven by strong investment income, which in turn should lead to healthy PAT growth on a sequential basis. Jio Financial Services continues to make strategic moves such as launching digital products and expanding its ecosystem, with a clear focus on future growth. The company has announced plans to introduce products for lending against stocks and mutual funds, leveraging Jio’s large user base, which could be a significant growth driver in the coming quarters.”
“Furthermore, with the NBFC receiving RBI approval to become a primary investment company, Jio Financial Services is well-positioned to unlock value from its investments. Overall, we expect the company to report robust numbers in the upcoming quarter,” the StoxBox expert added.
Jio Financial Stock Target Price
Speaking about the technical outlook of Jio Financial share price, Ganesh Dongre, Senior Manager, Technical Research at Anand Rathi, said, “Jio Financial Services share price is poised to make a fresh high at the ₹260 apiece level. If the stock breaks above this mark, the Reliance Group stock could make a fresh high by touching the ₹290-₹295 zone. Hence, those with Jio Finance stock in their portfolio are advised to stick to the script by keeping a stop loss at ₹205. If the stock breaks above ₹260 decisively, then one can upgrade the stop loss at ₹240 for the near-term target of ₹295.”
On the advice to new buyers regarding Jio Financial stock, Ganesh Dongre said, “New buyers are advised to wait for the breakout. Once the stock breaks above â‚ą260, one can buy this Reliance Group stock at the short term target of â‚ą295, keeping a stop loss of â‚ą240 apiece.”
Disclaimer: The views and recommendations made above are those of individual analysts or brokerage firms, and not of Mint. Investors are advised to consult with certified experts before making any investment decisions.
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