Posts Tagged asset recovery
Lenny Dykstra’s Rapid Fall From Grace
Posted by admin in Fraud Recovery on March 5, 2012
by Brian Mahany
My early legal career was spent in the metropolitan New York City area. At about the same time I began practicing law, Lenny Dykstra began playing for the New York Mets. A phenomenal hitter, Dykstra was well loved in New York - even by rival Yankees fans. After retiring from baseball, he became [...]
Flagstar Fraud Case Settles for $133 Million
Posted by admin in Fraud Recovery on March 4, 2012
by Brian Mahany
Flagstar Bank is the latest large lender to settle federal charges of mortgage fraud. Although Flagstar is based in Troy, Michigan, the case was prosecuted by the United States Attorney in Manhattan. (To date many of the large cases including our firm’s $2.4 billion dollar fraud case against Allied is being prosecuted by [...]
Net Branches - Recipe for Mortgage Fraud
Posted by admin in Legal Malpractice on February 24, 2012
by Brian Mahany
Mortgage net branches - they are everywhere. If set up properly they help people get into the mortgage business with low start up costs. The benefits include access to a national network, more products and more lending lines. Customers get better rates while independents can enter the business without millions in start up [...]
Author of “Bulletproof Asset Protection” Indicted!
Posted by admin in Fraud Recovery on February 22, 2012
by Brian Mahany
William Reed is a former lawyer and the author of the book titled “Bulletproof Asset Protection.” As of July 2011 he can add an indictment to his resume. The feds have charged Reed with Conspiracy to Defraud the United States, Money Laundering Conspiracy and multiple counts of Aggravated Identity Theft, Mail Fraud, Wire [...]
Adopting Your Girlfriend To Avoid Wrongful Death Claim? Epic Fail
Posted by admin in Legal Malpractice on February 17, 2012
by Brian Mahany
Who says creativity and ingenuity are dead? Don’t tell John Goodman of Palm Beach, Florida. In what has to be one of the most bizarre and brazen attempts to avoid creditors, Goodman adopted his 42 year old girlfriend making her his daughter. Why? Ah, that’s the best part of the story.
While some might [...]
LPL Financial Accused of Elder Fraud, Ordered to Pay Over $1mm
Posted by admin in Fraud Recovery on February 15, 2012
by Brian Mahany
Earlier this week we warned about the risks of purchasing complex and exotic derivative securities. We also warned about illiquid real estate investments and how they can be difficult to sell when you need to raise cash. They may be perfect for some folks but are often a bad idea for seniors. Last [...]
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 [...]
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