by Brian Mahany A report today from the Detroit News indicates that Justice Department officials have charged Michigan Supreme Court Justice Diane Hathaway with bank fraud. The U.S. Attorney’s Office in Detroit claims that Justice Hathaway and her husband hid assets in order to get ING to accept a short sale on their home. According […]
Resurgence of the Faithless Servant Doctrine
by Brian Mahany Morgan Stanley has not enjoyed much good ink these days. Like the other big Wall Street banks, Morgan Stanley has been battered in the press and by regulators. Last year the bank paid $32 million to the SEC to settle insider trading charges perpetrated by one of its traders, Joseph “Skip” Skowron. […]
It's A Nameless, Faceless Bureaucracy…
by Brian Mahany The title of this post comes from a quote by New York Governor Mario Cuomo. He was describing Con Ed, the utility in New York City that has left hundreds of thousands of folks without power. His full quote, “It is nameless, faceless bureaucracy that is a monopoly that operates with very […]
It's All About Personal Responsibility
by Brian Mahany During the last year our little boutique tax and fraud practice has grown from 2 lawyers to 9 with offices in 4 states and another in San Francisco opening soon. While on a plane yesterday I was asked why we are growing so fast. After reading today’s newspaper, I realized that our […]
Can I Sue For Denial Of HAMP Loan Modification?
by Brian Mahany “Can I sue for denial of a HAMP loan modification” is a question we frequently hear. Some lenders (Bank of America, Citi, Wells Fargo) seem to run borrowers through the ringer only to ultimately deny them a mortgage modification. That’s a shame since Congress authorized the Home Affordable Modification Program as part […]
Bank of America & The Mexican Drug Cartels
by Brian Mahany Around our Detroit office, we often refer to Bank of America as the “Death Star.” Sci-fi fans understand the reference but for those who haven’t seen Star Wars, the Death Star is a huge space station with a death beam capable of destroying a planet. Bank of America isn’t quite that powerful […]
New Rules Good For Defrauded Brokerage Clients
by Brian Mahany On Monday, new rules are in effect for stockbrokers, rules that benefit customers. The Financial Industry Regulatory Authority, or FINRA, issued new rules in late May to enhance due diligence requirements for stockbrokers. Those rules take effect July 9th. Investment advisers have long owed a fiduciary duty to their clients. Customers of […]
Cash Back / Downpayment Mortgage Fraud Scheme Leads To Prison
by Brian Mahany It’s the Fourth of July as I write this post. As we celebrate Independence Day and this great democracy, I am reminded that one of the fundamental values of this nation is that no man is above the law. Alejandro Cubelo of Miami was sentenced last week to 54 months in federal […]
Predatory Lending – Refinancing: Have You Been Defrauded by Element Funding?
by Brian Mahany Predatory lending is defined as unfair, deceptive or fraudulent practices during the loan origination process. We have expanded that view to also encompass loan modifications and refinances. Most of our posts are geared to helping people navigate tough tax, fraud and mortgage foreclosure problems. Occasionally, however, we announce companies we are investigating […]
Why It May Make Sense To Only Deal With Larger Brokerage Firms
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 […]