by Brian Mahany Our firm concentrates in fraud recovery. Frequently the frauds we handle involve Ponzi schemes. By the time the fraud comes to light, there are very few assets to recover. Some victims rely on court appointed receivers. Sometimes that works but often the result is a recovery of just pennies on the dollar. […]
Brits Fine Lloyds Banking Group For Payment Delays
by Brian Mahany We don’t discuss offshore stories very much unless it involves taxes. Seeing one of Great Britain’s leading dinged by regulators is worth discussing, however. Lloyd’s is one of the largest banks in Great Britain. Like some U.S. banks, Lloyds decided to offer payment protection insurance (PPI). This is the type insurance that […]
Victims in Stanford Ponzi Scheme To Receive Less Than 1 Penny On The Dollar
by Brian Mahany Talk about depressing story titles. Sir Allen Stanford was convicted of the second largest Ponzi scheme in American history. In 2012 he was sentenced to 110 years in federal prison, a life sentence. His crime? A Ponzi scheme that caused $7 billion in losses, mostly to American investors. Suing Stanford to recover […]
"Too Big To Jail" – The Politicians Respond (bank fraud post)
by Brian Mahany We have written many stories about big banks and mortgage companies. In our opinion, they are terrible corporate citizens and are directly responsible for the mortgage crisis and resulting recession. We believe that thousands of people have lost their homes and jobs because of the actions of Allied Home Mortgage, Bank of […]
Choices In A Modern Day World – Fraud Recovery Blog
by Brian Mahany Some say that prostitution is the world’s oldest profession. Leaving aside whether the sex trade even qualifies as a “profession,” we believe that prostitution certainly wasn’t a crime until relatively recently. There were no “ladies of the night” roaming around during the stone age but fraud was around back then and can […]
The Forgotten Investor (Protecting Investors From Fraud)
by Brian Mahany The headline in today’s Wall Street Journal reads “Insider – Trading Probe Widens.” Further down on the front page in smaller type is an article titled, “For Many Financial Advisers, Stocks Become A Hard Sell.” Is it any wonder why? While the Dow Jones Industrial Average is sitting at 13,200 this morning, […]
Michigan Homeowners Score Appeals Court Victory Against Citibank
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.” […]
Feds Claim $1.5 Billion In Nursing Home Overbilling – Opportunity For Whistleblowers
by Brian Mahany The Inspector General for the Department of Health and Human Services released a report last week that claims nursing homes overcharge Medicare by more than $1 billion annually. In a random sample of billing claims, approximately 25% were incorrect according to the report. The largest percentage of error was tied to upcharging […]
CPAs Are Not Fraud Auditors or Security Professionals (guest post)
[Ed. Note: This is a guest post by L. Burke Files, a seasoned financial fraud examiner and author of the book, Due Diligence. While we often work cases together, the opinions of Burke are his own. Like all professions, both CPAs and the world of fraud investigations have both highly skilled and knowledigble practitioners and […]
States Steal Much of $2.5 Billion Big Bank Settlement Monies
by Brian Mahany Waiting for your slice of the $25 billion mortgage foreclosure settlement monies? You might be waiting for a long time. Like forever. While I realize the term “steal” as used in this title is a pretty serious accusation, even HUD is upset at what many states have done with the settlement funds. […]
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