Posts Tagged investment fraud
Stockbroker Fraud Post – Brokers Back Away From Alternative Investments
Posted by admin in Fraud Recovery on May 17, 2013
Many of stockbroker fraud cases we see involve alternative investments – Real Estate Investment Trusts (REITs), Tenants in Common investments (TICs), private placements and exotic derivatives. In our experience, these investments are more prone to fraud and have problems because they are often thinly traded. Just 20 years ago, the types of investments commonly available [...]
Hooters Girls and Investment Fraud
Posted by admin in Fraud Recovery on May 14, 2013
The story written by Bruce Kelly of Investment News had all the makings of a tabloid scandal. Stockbrokers, forged documents, sexual harassment, an SEC investigation, Hooters girls and the misappropriation of customer funds from a prominent brokerage firm. The problem is that Kelly is a real journalist and the story he penned today about Commonwealth [...]
FINRA Issues Warning On Nontraded REITs – Stockbroker Fraud Post
Posted by admin in Fraud Recovery on May 3, 2013
by Brian Mahany We have written several times about the dangers of nontraded or thinly traded REITs. They are a popular way of investing in real estate but they can be difficult to sell or liquidate if an investor suddenly needs cash. There are other potential pitfalls as well. This week the Financial Industry Regulatory [...]
Rescission – A Great Method To Get Out Of A Bad Investment
Posted by admin in Fraud Recovery on April 28, 2013
by Brian Mahany For most consumer purchases, getting a refund for a defective product or service that doesn’t meet our expectation is a relatively easy process. Purchase a hedge fun or private placement and its impossible. You may be able to sell the investment but thats much different than obtaining a refund. In most instances, [...]
Pension Plan Administrator Convicted Of Fraud (Employee Benefit Plan Scam)
Posted by admin in Fraud Recovery on April 16, 2013
by Brian Mahany Tens of millions of Americans invest for the future through employer sponsored 401(k) and other employee benefit plans. These plans allow workers to lower their taxes and provide retirement income. Depending on how the money is invested, there is always a risk of loss. In the case of Matthew Hutcheson, an Idaho [...]
Massachusetts To Check Criminal Records Of Stockbrokers
Posted by admin in Fraud Recovery on March 26, 2013
by Brian Mahany Now that’s a novel idea… check the criminal record of people seeking jobs as stockbrokers. The Massachusetts Securities Division is proposing to require applicants seeking to be licensed as stockbrokers and investment advisers to consent to a criminal background check. While the idea isn’t foolproof, its a good plan. Federal and state [...]
Victims in Stanford Ponzi Scheme To Receive Less Than 1 Penny On The Dollar
Posted by admin in Fraud Recovery on January 30, 2013
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 [...]
The Prophecies Of Doom – Bank And Investment Fraud In 2013
Posted by admin in Foreclosure Defense, Fraud Recovery, Legal Malpractice on December 31, 2012
by Brian Mahany On December 21st, I attended an outdoor doomsday party in New Orleans. The promoters anticipated 10,000 revelers for the big event. My guess is that 500 showed up. Evidently, not many people thought the world was ending or if they did, they found better ways of celebrating than drinking beer in New [...]
Choices In A Modern Day World – Fraud Recovery Blog
Posted by admin in Fraud Recovery on December 15, 2012
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 [...]
“A Tale Told By An Idiot, Full Of Sound And Fury, Signifying Nothing” – The SEC’s Handling of Chinese Investment Fraud
Posted by admin in Legal Malpractice on December 11, 2012
by Brian Mahany The title of this post, “A Tale Told By An Idiot, Full Of Sound And Fury, Signifying Nothing” is a quote by William Shakespeare. When it comes to SEC “enforcement” actions, the title is often appropriate. Without criminal sanctions and an admission of wrongdoing, most SEC actions simply look important while being [...]
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