by Brian Mahany As we have said many times, the tide is beginning to turn against big banks and in favor of homeowners. For many years, courts simply rubber stamped foreclosure petitions. Now they are much more carefully scrutinized; particularly those filed by the nations largest banks – the so called “too big to fail.” […]
Obama Win Good For Whistleblowers
by Brian Mahany This blog tries hard to stay away from politics. Whether you are a Republican, Democrat or disenfranchised doesn’t matter to us. The Democrats hold over the Senate and re-election of Barack Obama is a win for whistleblowers in financial fraud cases. It’s no secret that the Wall Street elite and banking world […]
"Do The Hustle" – Feds Slam Bank of America in Billion Dollar Fraud Case
by Brian Mahany For those who remember the disco era, Van McCoy scored a number 1 hit on the Billboard charts back in 1975 with a song called “Do The Hustle.” Decades later, federal prosecutors announced a billion dollar civil prosecution against America’s largest bank, Bank of America. Prosecutors say that BOA engaged in a […]
JPMorgan Ordered To Pay $18+ Million For Mismanaging Trust
by Brian Mahany Wm. Skelly, founder of Skelly Oil, created a trust back in 1955 to benefit his daughter and grandchild. Skelly died long ago but the trust continued and was left to JPMorgan Chase to manage. Instead of making money for the trust’s intended beneficiaries, an Oklahoma judge says the bank lined its own […]
Consumer Alert – Questionable Annuity Strategies Aimed At Veterans
by Brian Mahany The National Association of Insurance Commissioners issued an alert yesterday to the nations veterans. There are approximately 16 million veterans who served during the time period between World War II and the Vietnam War. Many of these veterans are retired or quickly nearing retirement age. For many, long term care and estate […]
The Secret Life Of A Whistleblower
Whistleblowers are true heroes – their actions save taxpayers billions of dollars each year, help struggling homeowners and sometimes even save lives. The road can be a bit lonely however. This post looks at the story of Kyle Lagow, a former real estate appraiser with Countrywide Financial (now Bank of America). Lagow was recently awarded […]
Latest Healthcare Fraud – Personal Care Attendants
When I saw an article about personal care assistants fraud put out by the Healthcare Fraud Shield organization, I immediately thought of PCA’s stealing from the elderly and infirm. While that is a huge problem nationwide, apparently there is a cottage industry of personal care providers that overbill Medicaid, charge for services not performed or […]
House of Horrors Owner Convicted
by Brian Mahany Two back to back tales of horror from Atlanta. Just a few hours ago we posted a story of a Medicare fraud case in Atlanta. A radiology group agreed to pay almost $4 million to settle accusations that they prescribed unnecessary radiation treatments to prostate cancer patients. If bilking the government isn’t […]
Texas Man Convicted In Mortgage Rescue Scam
by Brian Mahany American ingenuity – it can be used for good purposes or evil. Frederic Gladle of Austin, Texas is behind bars tonight because he chose the latter. The story of his crime is quite fascinating. Everyone knows someone who has lost their home to a foreclosure or is dangerously close to one. The […]
SEC Targets Investment Advisers For Providing Inaccurate Info
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 […]