Posts Tagged asset recovery
Zealous Legal Advocacy or Criminal Conspiracy?
Posted by admin in Fraud Recovery on January 29, 2012
by Brian Mahany
A recent Reuters article sheds light on how Sir Allen Stanford was able to avoid detection and arrest for well over a decade. When finally arrested in 2009, Stanford was believed to have presided over one of the largest Ponzi schemes ever - $7 billion in misappropriated funds. Unlike the Madoff case where much [...]
America’s Unsung Heroes
Posted by admin in Fraud Recovery on January 23, 2012
by Brian Mahany
This post is being written from the Pittsburgh International Airport. While waiting for my flight I purchased a copy of the Pittsburgh Post-Gazette to read about the death of Joe Paterno. In addition to the many stories on the life and death of “Joe Pa” was this headline, “Doctors at Erie Practice Accused [...]
FINRA Notifies Brokers of “Heightened Supervision of Complex Products”
Posted by admin in Fraud Recovery on January 21, 2012
by Brian Mahany
The Financial Industry Regulatory Authority issued a formal notice to stockbrokers earlier this week. The notice (12-03) advises of “heightened supervision” of complex financial products and echoes what we have said for years; don’t buy something if your broker can’t explain or you don’t understand it!
FINRA defines a complex product as a financial [...]
No Justice For Cap West Securities Customers
Posted by admin in Fraud Recovery on January 19, 2012
by Brian Mahany
For months we have been reporting on the steady demise of brokerage firms tied to investments in DBSI, Medical Capital Holdings and Provident Royalties. Several firms have gone out of business as a result of selling securities in these companies to their investors. When a brokerage firm goes under, there is often little [...]
The Real Victim of Political Stalemate? The American Consumer
Posted by admin in Fraud Recovery on January 14, 2012
by Wassim Malas, JD, LLM
Despite the “I’m right and you’re wrong” rhetoric commonly heard in the political arena, most decisions by government officials probably lie somewhere between the two, at least when assessed from strictly objective principles. Richard Cordray’s appointment as Director of the Consumer Financial Protection Bureau (CFPB) is no different. [...]
Priest Candidate Asked To Leave Seminary Over Allied Fraud Case
Posted by admin in Fraud Recovery on January 14, 2012
by Brian Mahany
By now, most of our readers know that our firm is co-counsel with the United States government in the largest federal false claims fraud case brought against the mortgage industry - Allied Home Mortgage and its owner, Jim Hodge. Every large case involves all kinds of unexpected twists, turns and collateral actions. Our [...]
“Naming Names” or Blowing Smoke? Either Way, It’s Great Entertainment
Posted by admin in Fraud Recovery on January 10, 2012
by Brian Mahany
Two days before Christmas we posted a story about convicted Ponzi schemer (and disbarred lawyer) Scott Rothstein. Back then he said he was going to name names in a bid to reduce his sentence. When the story first broke, Rothstein had thrown his former bankers at banking giant TD bank under the bus [...]
Troubles In Paradise
Posted by admin in Fraud Recovery on January 6, 2012
by Brian Mahany
Aloha and greetings from Maui. We are here for a short family vacation - a few days to unwind, regroup and plan the new year. As I ate breakfast this morning I was struck by the headline in the local daily newspaper, The Maui News, “Heavy Surf Continues.” Life is a bit more [...]
What Does It Take To Become A Stockbroker? Apparently Nothing!
Posted by admin in Fraud Recovery on January 5, 2012
by Brian Mahany
Most of our stockbroker fraud stories involve investment advisers failing to perform due diligence, stockbrokers making unsuitable recommendations, churning of accounts or failures to disclose conflicts of interest. Not this story. This week the SEC says Anthony Fields, along with his two “companies” Anthony Fields & Associates and Platinum Securities Brokers, simply decided [...]
SEC Targets Investment Advisers For Providing Inaccurate Info
Posted by admin in Fraud Recovery on January 2, 2012
by Brian Mahany
The U.S. Securities and Exchange Commission has started a “cease and desist” proceeding against a Chicago investment adviser firm, Calhoun Asset Management LLC, and its principal, Krista Ward. The complaint was filed on December 29th. The SEC says that the firm deceived investors by “grossly exaggerating” assets under management and making misleading statements [...]
Recent Comments