Posts Tagged Ponzi scheme
Success Trades Securities In Trouble? FINRA Says Yes (stockbroker fraud post)
Posted by admin in Fraud Recovery on April 14, 2013
by Brian Mahany Success Trades Securities has a great name. They also have the financial backing of many NFL and NBA players. Regulators say that some of these players invested in the company in exchange for a promised rate of return between 12 and 26%. Banking news source bank rate.com says the average interest rate [...]
In God We Trust, All Others Pay Cash
Posted by admin in Fraud Recovery on April 13, 2013
by Brian Mahany The headline in the Palm Beach Post says it all, “Ex Delray Beach Commissioner ‘Used God’s Name’ In Alleged $1.8 Million Ponzi Scheme.” Stories like this are far too common; fraudster’s using the Church or religious affiliations to steal from innocent victims. What makes this case so unusual is the age and [...]
Payroll Firm Really A Ponzi Scheme? Tax Fraud Post
Posted by admin in Fraud Recovery, Tax on March 22, 2013
by Brian Mahany Although we specialize in tax and fraud work, rarely are the two disciplines connected. A story last week from the Baltimore Sun, however, suggests that a Bel Air, Maryland payroll company was both stealing tax monies from clients and running a Ponzi scheme. That’s a double loss for victims – they lose [...]
Victim Assaults Ponzi Scheme Promoter
Posted by admin in Fraud Recovery on March 20, 2013
by Brian Mahany Losing one’s life savings to a Ponzi scheme promoter would be devastating to anyone. We often see courtroom footage of victim’s families attacking defendants at sentencing hearings when emotions are the highest. Usually these assaults occur in connection with a homicide or sex crime. In Longwood, Florida it was the victim of [...]
BONY To Pay $114 Million To Defrauded Investors – Fraud Recovery Blog
Posted by admin in Fraud Recovery on February 25, 2013
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. [...]
Hook ‘Em and Book ‘Em – Former Texas Longhorn Star Charged WIth Affinity Fraud
Posted by admin in Fraud Recovery on February 6, 2013
by Brian Mahany Three days ago I was in Bandera, Texas participating in my first “Cowboy Mardi Gras.” As a new Texas landowner and soon to be resident, it was fitting to begin spending time in my new hometown. (It was also 80 degrees while Milwaukee was a frigid 8!) Football is king in Texas [...]
Two Law Firms Accused Of Assisting Ponzi Scheme (Legal Malpractice Post)
Posted by admin in Fraud Recovery, Legal Malpractice on February 4, 2013
by Brian Mahany As an attorney, I am required to take an oath to support the Constitution and to never counsel or support any action that appears unjust. Much of society views lawyers as nothing more than “hired guns.” Sometimes we are called “whores.” All of us, however, have taken an oath to uphold the [...]
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 [...]
40 Cars + Private Jet + $6 Million Yacht = 225 Years In Prison
Posted by admin in Fraud Recovery on November 13, 2012
by Brian Mahany Some often complain that white collar criminals don’t spend much time in jail. Post Bernie Madoff, however, things are beginning to change. A U.S. Probation Office sentencing report recommends convicted Ponzi schemer Tim Durham be sentenced to 225 years in federal prison for his role in a mssive Ponzi scheme. Durham calls [...]
Former Sunwest CEO Indicted For Fraud
Posted by admin in Fraud Recovery on September 29, 2012
by Brian Mahany Former Sunwest Management CEO Jon Harder was indicted for fraud in connected with an alleged Pozi scheme. Prosecutors say he bilked investors out of over $130 million. Harder was CEO of Sunwest, a constellation of companies that purchased and operated nursing homes and assisted living facilities. Several years ago, his company went [...]
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