Injustice anywhere is a threat to justice everywhere. Those were spoken by Dr. Martin Luther King and are the theme for today’s Thankgiving message. We try to blog everyday. Holidays are no exception. A few minutes ago I was poised to write a story on a new Ponzi scheme in Florida. Unfortunately, by tomorrow several […]
Criminal Charges and Whistleblowers
Recently we received a call from a potential whistleblower wondering if she could file a false claims act case even though her employer managed to convince a local prosecutor to bring criminal charges against her. Unfortunately, we periodically hear stories like this. In almost every case, a “dirty” employer uses the criminal courts as a […]
Bank Director Fakes his Own Death, Gets 30 Years in Slammer
Aubrey Lee Price, 48, will be an old man when he is finally released from prison. That is especially fitting since he left so many elderly victims practically penniless. This week Price was sentenced to 30 years in prison for bank fraud. Price made national news when he wrote to several friends telling them of […]
Trio Convicted of Medicare Fraud in Detroit
Medicare fraud is rampant. Tens of billions are lost each year in scams around the country. The victims of these scams are ultimately taxpayers and those truly needy people who are denied essential medical care. Because Medicare is a federally funded program, whistleblowers who report fraud can earn large cash awards from the government. The […]
NY Man Arrested for Tax Fraud and TARP Fraud
A Westchester, New York man was arrested and charged with tax fraud and other crimes in connection with a sophisticated mortgage scam that allowed him to obtain $146 million from 3 banks. Published reports say that Selim Zherka was charged with tax fraud, wire fraud, witness tampering and bank fraud. Because one of the banks […]
Alliance & Nikolai Battoo – “Figment of Criminal Imagination”
The U.S. Securities and Exchange Commission has charged yet another player in the massive Ponzi scheme orchestrated by Nikolai Battoo. Marketed as PIWM, Maven Assurance or Maven Life, the Ponzi scheme is estimated to have raked in over $150 million dollars. Already the principals, Nikolai Battoo and his chief marketer Tracy Sunderlage, have been charged […]
TD Banker May Be Liable In Rothstein Ponzi Scheme Case
Chasing Ponzi scheme defendants is not an easy business. By the time they are caught, the coffers are usually dry. Unlike many law firms that pursue the fraudsters directly, we get involved when the money is hard to find. Our preferred targets are stockbrokers and investment advisers (the ones selling the investments), accountants and auditors […]
Credit Suisse Trader: "I Was Acting Under Orders" – Bank Fraud Post
Salmaan Siddiqui will be sentenced by a New York federal judge in a little more than 24 hours. He was convicted of one count of conspiracy to falsify books and wire fraud for helping Credit Suisse AG hide mortgage losses in the run up to the financial crisis. He faces years in prison, however his […]
Chabad Leader Eli Weinstein Sentenced to 22 Years Prison
A leader of the Chabad movement in the New Jersey was sentenced to 22 years in prison for his role in masterminding a $200 million fraud. By some estimates, the fraud may be as large as $430 million. In February, Eliyahu Weinstein of Lakewood, NJ was sentenced to 264 months in prison. Now just a […]
Eric Holder – Empty Promises?
The headline in today’s USAToday reads: “Holder – No Bank Is To Big To Jail.” The story behind the headline addresses the Justice Department’s prosecution of Credit Suisse for allegedly helping Americans evade taxes by opening secret Swiss bank accounts. Unfortunately Holder’s words are empty. You can’t put a bank in jail. The feds can […]