Posts Tagged Fraud Recovery
Hedge Fund Manager Pleads to Ponzi Scheme, Shows Little Remorse
Posted by admin in Fraud Recovery on March 17, 2012
by Brian Mahany
Ponzi schemes are a dime dozen these days. When I read a press release from Manhattan District Attorney Cyrus Vance about another creep, Brian Kim, who stole money from clients I wasn’t surprised. Kim’s actions after his indictment and the comments made by his attorney in court, however, are worth discussing.
First, the charges. [...]
Why It May Make Sense To Only Deal With Larger Brokerage Firms
Posted by admin in Fraud Recovery on March 14, 2012
by Brian Mahany
My “in box” is likely to explode after people see the title of this post. But its true. Although large broker dealers and investment banks can fail (think Lehman Brothers or MF Global), smaller firms tend to fold far more often. An article by Bruce Kelly yesterday in the online edition of InvestmentNews [...]
“There Just Isn’t Enough Money To Pay Everybody”
Posted by admin in Fraud Recovery on March 12, 2012
by Brian Mahany
The title of this blog is actually a quote from Joseph Borg, director of the Alabama Securities Commission. Borg testified before a Congressional subcommittee examining proposals to help Ponzi scheme victims. Congress wants SIPC (the Securities Investors Protection Corp.) to reimburse more victims for their losses. Those sentiments are laudable and make great [...]
Massive Healthcare Fraud Discovered
Posted by admin in Fraud Recovery on March 8, 2012
by Brian Mahany
Federal prosecutors in Dallas charged a Texas physician and 6 others in a massive healthcare fraud. They say the defendants defrauded taxpayers of as much as $374 million dollars by making false claims to Medicare and Medicaid. Their crime spree went on for years before being caught.
Healthcare fraud is nothing new. Not a [...]
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 [...]
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 [...]
Rising From The Dead - Old Mortgages
Posted by admin in Foreclosure Defense on February 14, 2012
by Brian Mahany
Last week a gentlemen came into our office and said that although he never missed a mortgage payment, his house was in foreclosure. “No way,” I thought. Some banks like Bank of America are abysmal record keepers but surely if you showed that you paid your mortgage any lender would stop the foreclosure [...]
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