COLUMBIA, S.C. (AP) — Federal prosecutors said Wednesday that thousands of investors are beginning to receive some of the money they entrusted with the “3 Hebrew Boys,” a trio currently serving decades in prison for an $80 million scam.

Checks were mailed Friday to about 3,800 investors, according to U.S. Attorney Bill Nettles. The payments total about $19 million and represent 46 cents on each dollar invested, Nettles said.

Under a plan approved last month by U.S. District Judge Margaret Seymour, the payouts are the first to investors who said they were fleeced by Joseph Brunson, Tony Pough and Timothy McQueen. The men drew their nickname from a Biblical tale about two believers in God who survived being tossed into a fiery furnace because of their faith.

In their pitch, the men told investors they had been through the flames of crushing debt and survived, thanks to their secret investments and the power of God.

Prosecutors said the three men traveled to churches and other gatherings across the Southeast and spoke to soldiers near military outposts, preaching how faith and an investment in what they said were foreign currencies would at least double their money, wipe out credit card debt and pay off mortgages in months.

Authorities said the men preyed on debt-plagued investors, actually putting less than $1 out of every $10,000 into the foreign currency markets. A very small percentage did go to other investments, such as a limo service or small businesses, but most of it went for a fleet of expensive cars, vacation homes, pro football game luxury boxes and a Gulfstream jet.

Over the past five years, court-appointed receiver Beattie Ashmore and his team have gathered and sold off those high-end items, also unearthing millions of dollars in hidden assets belonging to the men.

The men were convicted in 2009 on 58 counts each of mail fraud, money laundering and other charges. Brunson and McQueen were each sentenced to 27 years in prison, and Pough was sentenced to 30 years — punishments prosecutors said were the highest ever for fraud convictions in South Carolina’s federal courts.

The trio remained defiant to the end, telling authorities they believed they did nothing wrong and planned to use some of the proceeds to feed hungry children and help the homeless.

As part of their sentences, the men were also ordered to repay $82 million in restitution. An appeals court is currently weighing their case.

___

Kinnard can be reached at http://twitter.com/MegKinnard

___

Online: http://www.3hbreceiver.com

On any other day, the defeat of Dick Lugar is a GIANT story. Today it’s small potatoes next to the same sex marriage announcement.

Recent events may have brought the debate over homemakers‘ contributions back into the spotlight, but last month marked the one-year anniversary of a major — if unnoticed — salvo in the war on stay-at-home parents. Last year, the Federal Reserve declared that credit card applicants must use their individual income on the application, not their household’s. This seemingly innocuous pronouncement has resounding implications: homemakers cannot get a credit card without the breadwinners’ permission.

Statement implies that homemakers do not contribute to income

The Fed put out its statement to clarify a provision of the Credit CARD Act of 2009, which sought to protect college students from getting too-high credit limits and digging themselves into debt. When the CARD Act was passed, students could apply for a line of credit and list their parents’ incomes as their own, thereby getting inappropriately high limits. The law intended to prevent students from borrowing against an income they did not earn.

As a remedy, the legislation required those under 21 to either list their own income — which, for most students, is too small to get a credit card — or enlist a co-signer, who is legally responsible for the debt.

All of this is innocuous enough. But in March 2011, the Federal Reserve declared that the provision would apply to all people, be they dependents or equal partners in a household. No paycheck, said the Fed, no credit card. The implication was clear: A homemaker does not contribute to her partner’s income.

From partner to supplicant

As a result of the CARD Act, a stay-at-home parent must ask for her partner’s permission to get a credit card. A homemaker may make most of the household’s financial decisions, from paying the bills to buying groceries. But she — and by a 30 to 1 margin, it’s a she — is barred from taking out a line of credit based on income that, it cannot be doubted, she had a hand in earning.

The crime of a stay-at-home parent is that her contribution to the family’s finances cannot be quantified. It’s reasonable to say that a college student might not contribute to a family’s finances, or at the very least, is not part of the major decision-making team. But on the other hand, a homemaker’s work raises the household income, and she has as much say in the household’s money as the employed spouse.

And the homemaker’s contribution to the household income is entirely ignored. If she were taken out of the equation, her partner would have to work harder to earn the same amount of money. And yet, because her impact isn’t listed in a form that the IRS would recognize, her partner claims her labors as well as his own.

Even in the most equitable, well-functioning household, having to ask for access to money creates a moment of awkwardness, a brushing-off of meaning, a need to reassure that this doesn’t mean anything. But in less-pleasant households, the situation is far worse.

The CARD Act and domestic violence

Research shows that approximately 98 percent of all abusive relationships include some form of financial abuse — withholding money, misusing money, keeping a partner from earning money. And money is a major reason that domestic violence victims remain with their abusers, who they perceive as the only way to feed themselves or their children. An abuser can already keep his partner from working. Barring her from access to credit just adds one more tool to his arsenal.

Under the CARD Act, a victim of domestic violence has two choices: Get by without credit, which not only puts a strain on her financial freedom but can keep her from getting a loan, an apartment or even a job if she tries to leave; or take out a joint loan with her abuser, inviting the not-uncommon scenario that her abuser will miss payments, ruin her credit score, and run up debts in her name.

Non-working domestic violence victims are thrust into a bad situation: cut off from credit, even if it might save them.

Federal Reserve: Provision is “Inconvenient or impractical”

What is the Federal Reserve’s response to disavowing the contribution of homemakers, and to the harsh reality of financial abuse?

This new development “could be inconvenient or impractical?such as when a consumer’s spouse is not available to apply in a retail setting.”

True, one consequence of the law is that stay-at-home parents will not be able to apply for a card at Macy’s on their own; and true, that in itself can be a humiliation. But for victims of financial abuse, the law’s impact is far greater. They may be cut off from credit altogether, or their abusers may ruin their credit and leave mountains of debt in their names. They may find leaving that much harder.

Now, politicians and pundits once again take up the debate of the stay-at-home parent’s contribution. But it bears remembering that, one year ago, the Federal Reserve firmly declared its position — with real consequences for homemakers.

What can homemakers do?

A homemaker should make sure to keep some of her financial independence. Safety and practical concerns aside, having control of your own money asserts that you are a capable, decision-making family member, not a supplicant dependent on her spouse’s money. Here are a few ways to build credit and savings, even without an income:

Have your own savings account. Even if you have a joint bank account with your spouse, keep another account solely in your name. Build up your savings there as a personal rainy day fund.

Take out a joint loan with your partner, if you can trust him or her. That way, on-time payments will reflect positively on both of your scores.

Consider a secured credit card, if you don’t have any credit and can’t take out a joint loan. Secured or pre-approved cards often come with annual fees, and you need to post a security deposit that’s usually at least $200. However, you’re more or less guaranteed to qualify, and you can use a secured card to move onto unsecured ones.

Contact a nonprofit, if worst comes to worst. A number of nonprofits try innovative strategies to build credit, such as the Four Bands Community Fund. They help Cheyenne River Indian Reservation residents rebuild their credit with microloans and provide personal finance counseling.

Anisha Sekar is the VP of Credit and Debit Products at NerdWallet, and recently wrote about women and the CARD Act on the NerdWallet blog.

. @nycbbb u r telling me! My mom is an investigative reporter for a living, so I tend to believe her judgment. But so many stories out ther

. @nycbbb u r telling me! My mom is an investigative reporter for a living, so I tend to believe her judgment. But so many stories out ther

Fear not, slowpoke gamblers: There’s still time to fill out that NCAA Tournament bracket. The games don’t begin in earnest until Thursday morning, so many bracket pools still have several hours remaining for cogitation and predictions.

President Obama on Wednesday afternoon tweeted a link to a page on barackobama.com where you can examine his bracket and fill out one of your own. The president’s love of hoops is well documented; he was known in high school as Barry O’Bomber for his lefty jumpshot, and coolly drained a three-pointer for troops in Kuwait during the 2008 presidential campaign.

[More from Mashable: NCAA’s Facebook Fan Committee Picks 97% Accurate March Madness Field]

Mashable decided to give the Obama Bracket Challenge a whirl, and in the process found a tech-centric bracket service to help with your picks if you trust algorithms more than intuition.

SEE ALSO: Seven Baller Apps to Follow March Madness Online

[More from Mashable: March Madness Is Here! Twitter Reacts to Selection Sunday [CHARTS]]

Pick My Bracket is a site with an interesting premise — enter the stats you deem most important, and it produces a bracket based on seedings, statistics and “some randomness.” The site’s criteria is a bit simplistic, however, you only get to pick one of four stats (offense, defense, rebounds or assists) to emphasize, along with another more offbeat factor. But it’s not a bad start for a group of college kids, and fun to play with. Pairing “defense” with “SAT Scores” crowned Duke as national champion, while matching “offense” and “partying” gave Kansas the title.

If you trust in tech, Pick My Bracket could give you a leg up on President Obama. It’s fun to compare your picks against his in the bracket challenge, but also ends with a bit of a letdown. After finishing your picks, the site whisks you away to a page asking for credit card information and donations. But, like the site says, there’s “another another big match-up that’s happening this year: the one in November.”

What are the best tech resources for picking March Madness brackets that you know of? Let us know in the comments.

1. @GoodmanCBS

Jeff Goodman is a CBSSports.com writer. His SiriusXM show, Inside College Basketball, regularly has interesting and timely guests as well. Follow his Twitter feed to find out who’s on when.

Click here to view this gallery.

This story originally published on Mashable here.

Wasting money doesn’t necessarily mean you’re bad with money. You don’t have to be a shopaholic or a frivolous spender to spend more money than you should. Often, there are leaks in our budgets that could easily be fixed if we knew what to look for. Some of the biggest money mistakes can be eliminated without even making a big change to your lifestyle.

So before you vow never to eat out again or take a vacation, see if you can plug these money leaks that you may not have even noticed.

1. Investing in expensive mutual funds. Unlike your gas or electric bill, mutual funds don’t send you a monthly statement showing how much they cost. Even though the cost is hard to see, mutual funds that charge high fees are just eating away at your returns. High fees, which can include trading costs and the fund’s management fees, can go unnoticed because investors don’t get a bill for the fees. Instead, the fees are simply deducted from your account, reducing the overall return on your investments.

Instead of investing in expensive mutual funds, look for funds that charge less than 0.50 percent in fees annually. You can find index funds charge less than 0.1 percent. And if you need some help with your investing, rather than paying 1 percent or more for someone to manage your investments, use a service like Betterment. This online service makes investing a snap, and Betterment recently lowered its fees.

2. Ignoring your credit score. Everyone knows just how important a good credit score is, but most people probably don’t think of it in terms of wasting dollars. Your credit score affects everything from interest rates to auto insurance premiums. Today, it can even affect your chances of getting a job, as some employers use credit history as part of their hiring criteria. It’s simple: The better your credit, the more money you are going to have in your pocket.

For example, while you may be able to qualify for a mortgage with a credit score of 620, you won’t get the best rates. To get the best mortgage rates, you need a score of about 760. And the difference in interest rates between a score of 620 and 760 can be well over 1 percent. Over the life of a mortgage, the better score can save you tens of thousands of dollars in interest payments.

3. Failing to get lower rates. The only good thing about high rates is that they can be lowered. You can lower you rate on just about anything–credit cards, mortgages, car loans, and student loans. There are several ways to get lower rates. The easiest way is to ask. Particularly with credit cards, just asking for a lower rate has proven to be very effective.

With mortgages, car loans, and student loans, refinancing is an option if rates are lower. And keep in mind that even if prevailing rates have not changed since you obtained your loan, you still might be able to get a lower rate if your credit score has improved. And finally, with credit cards, there are several very good 0% balance transfer options to consider. The point is, there are opportunities to lower your rates and not doing so is just throwing money away.

4. Overpaying for car insurance. Car insurance is one of those necessary evils in life. We all hate to pay for it, but we have to have it. Fortunately, there are many ways to reduce car insurance premiums with just a little effort. For example, you can raise deductibles or even cancel certain types of insurance for older vehicles. Auto insurance companies offer numerous discounts, and comparing insurance online takes just minutes.

5. Buying brand-name products. It’s easy to get caught up buying brand-name products. After all, these big companies force-feed us with their captivating slogans on a daily basis. Looking past the pretty labels and catchy commercials, however, will save you money. Many of the “off bands” are often made by the same brand-named companies so the product is basically the same, but with a better price. This is especially true when it comes to prescriptions and over-the-counter medications.

6. Buying too much life insurance. Like car insurance, life insurance is a necessary expense if others are relying on your income. The key is to buy only the life insurance you need at the cheapest available price. For many, this means buying term life insurance, not universal or whole life policies that combine life insurance with investment products. And as your life circumstances change, consider whether you can reduce the amount of insurance you need, or even eliminate it completely.

7. Failing to get the company 401(k) match. Getting the most out of your 401(k) is essential to your retirement planning. Many companies will match a portion of an employee’s contributions to a 401(k). But to take advantage of a company match, you must contribute a certain amount that varies by plan. By not making the most of an employer’s matching contributions, many lose what would otherwise be free money. So take full advantage of your 401(k) by contributing up to the amount your employer will match.

DR is the founder of the popular personal finance blog The Dough Roller, and the credit card review site Credit Card Offers IQ.

Wasting money doesn’t necessarily mean you’re bad with money. You don’t have to be a shopaholic or a frivolous spender to spend more money than you should. Often, there are leaks in our budgets that could easily be fixed if we knew what to look for. Some of the biggest money mistakes can be eliminated without even making a big change to your lifestyle.

So before you vow never to eat out again or take a vacation, see if you can plug these money leaks that you may not have even noticed.

1. Investing in expensive mutual funds. Unlike your gas or electric bill, mutual funds don’t send you a monthly statement showing how much they cost. Even though the cost is hard to see, mutual funds that charge high fees are just eating away at your returns. High fees, which can include trading costs and the fund’s management fees, can go unnoticed because investors don’t get a bill for the fees. Instead, the fees are simply deducted from your account, reducing the overall return on your investments.

Instead of investing in expensive mutual funds, look for funds that charge less than 0.50 percent in fees annually. You can find index funds charge less than 0.1 percent. And if you need some help with your investing, rather than paying 1 percent or more for someone to manage your investments, use a service like Betterment. This online service makes investing a snap, and Betterment recently lowered its fees.

2. Ignoring your credit score. Everyone knows just how important a good credit score is, but most people probably don’t think of it in terms of wasting dollars. Your credit score affects everything from interest rates to auto insurance premiums. Today, it can even affect your chances of getting a job, as some employers use credit history as part of their hiring criteria. It’s simple: The better your credit, the more money you are going to have in your pocket.

For example, while you may be able to qualify for a mortgage with a credit score of 620, you won’t get the best rates. To get the best mortgage rates, you need a score of about 760. And the difference in interest rates between a score of 620 and 760 can be well over 1 percent. Over the life of a mortgage, the better score can save you tens of thousands of dollars in interest payments.

3. Failing to get lower rates. The only good thing about high rates is that they can be lowered. You can lower you rate on just about anything–credit cards, mortgages, car loans, and student loans. There are several ways to get lower rates. The easiest way is to ask. Particularly with credit cards, just asking for a lower rate has proven to be very effective.

With mortgages, car loans, and student loans, refinancing is an option if rates are lower. And keep in mind that even if prevailing rates have not changed since you obtained your loan, you still might be able to get a lower rate if your credit score has improved. And finally, with credit cards, there are several very good 0% balance transfer options to consider. The point is, there are opportunities to lower your rates and not doing so is just throwing money away.

4. Overpaying for car insurance. Car insurance is one of those necessary evils in life. We all hate to pay for it, but we have to have it. Fortunately, there are many ways to reduce car insurance premiums with just a little effort. For example, you can raise deductibles or even cancel certain types of insurance for older vehicles. Auto insurance companies offer numerous discounts, and comparing insurance online takes just minutes.

5. Buying brand-name products. It’s easy to get caught up buying brand-name products. After all, these big companies force-feed us with their captivating slogans on a daily basis. Looking past the pretty labels and catchy commercials, however, will save you money. Many of the “off bands” are often made by the same brand-named companies so the product is basically the same, but with a better price. This is especially true when it comes to prescriptions and over-the-counter medications.

6. Buying too much life insurance. Like car insurance, life insurance is a necessary expense if others are relying on your income. The key is to buy only the life insurance you need at the cheapest available price. For many, this means buying term life insurance, not universal or whole life policies that combine life insurance with investment products. And as your life circumstances change, consider whether you can reduce the amount of insurance you need, or even eliminate it completely.

7. Failing to get the company 401(k) match. Getting the most out of your 401(k) is essential to your retirement planning. Many companies will match a portion of an employee’s contributions to a 401(k). But to take advantage of a company match, you must contribute a certain amount that varies by plan. By not making the most of an employer’s matching contributions, many lose what would otherwise be free money. So take full advantage of your 401(k) by contributing up to the amount your employer will match.

DR is the founder of the popular personal finance blog The Dough Roller, and the credit card review site Credit Card Offers IQ.