Posts Tagged Ponzi scheme
Priest Candidate Asked To Leave Seminary Over Allied Fraud Case
Posted by admin in Fraud Recovery on January 14, 2012
by Brian Mahany
By now, most of our readers know that our firm is co-counsel with the United States government in the largest federal false claims fraud case brought against the mortgage industry - Allied Home Mortgage and its owner, Jim Hodge. Every large case involves all kinds of unexpected twists, turns and collateral actions. Our [...]
“Naming Names” or Blowing Smoke? Either Way, It’s Great Entertainment
Posted by admin in Fraud Recovery on January 10, 2012
by Brian Mahany
Two days before Christmas we posted a story about convicted Ponzi schemer (and disbarred lawyer) Scott Rothstein. Back then he said he was going to name names in a bid to reduce his sentence. When the story first broke, Rothstein had thrown his former bankers at banking giant TD bank under the bus [...]
Did TD Bank Help Ponzi Schemer Bilk Millions?
Posted by admin in Fraud Recovery on December 23, 2011
by Brian Mahany
Scott Rothstein is serving a 50 year prison term for operating the largest Ponzi scheme in Florida history, a massive $1.2 billion fraud. Now that he is effectively serving the rest of his life behind bars, Rothstein says he is setting the record straight and naming names. Is he really setting the record [...]
Unregistered Broker Caught… Again
Posted by admin in Fraud Recovery on December 20, 2011
by Brian Mahany
The ink isn’t even dry on my last post about the SEC’s new initiative to ferret serial fraudsters and now a story from the Texas State Securities Board. Regulators in the lone star state say that William Byrne confessed to being an unregistered broker selling investments. Of course, the securities he was selling [...]
It Must Be True, I Heard It On TV
Posted by admin in Fraud Recovery, White Collar Criminal on December 13, 2011
by Brian Mahany
My grandmother would often say “It must be true, I heard it on TV.” That was years ago but people still believe things they see or hear on the TV, radio or Internet. Now a federal grand jury in Los Angeles has indicted a radio talk show host and charged him with running [...]
Another CPA Firm Sued For Failing to Spot Ponzi Scheme
Posted by admin in Fraud Recovery on December 12, 2011
by Brian Mahany
Eleven months ago, we reported on Frederick Berg and the reportedly largest Ponzi scheme in Seattle’s history. Berg was indicted at the close of 2010 after federal prosecutors say he bilked hundreds of investors out of $130 million. Much of that money was frittered away on Berg’s lavish lifestyle - the Seattle Times [...]
A Rolling Stone May Gather No Moss But A Rolling Stones Concert Promoter Gathers 9 Year Sentence
Posted by admin in Fraud Recovery on November 29, 2011
by Brian Mahany
Day after day and the fraud stories keep rolling in. This one comes to us from Arizona where promoter Miko Dion Wady received a 9 year prison sentence for running a Ponzi scheme.
Prosecutors say Wady lured investors into his scheme with promises of high returns and the chance to be involved in the [...]
Accounting Firm Sued In Ponzi Scheme Case
Posted by admin in Fraud Recovery, Legal Malpractice on November 19, 2011
by Brian Mahany
Here is a new twist. A hedge fund sues an accounting firm for its failure to uncover a Ponzi scheme operated by one of the hedge fund’s traders. That might sound farfetched, but its not. New York accounting firm Rothstein Kass was sued by two hedge fund managers in San Francisco Superior Court [...]
Living the Life of Luxury… While Investors Suffer
Posted by admin in Fraud Recovery on November 12, 2011
by Brian Mahany
The SEC has taken on another Ponzi scheme, this one operating in Costa Mesa, California. The SEC says that Jerry Aubrey ran an “$11 million boiler room fraud that victimized more than 200 investors.” Operating through a company called Progressive Energy Partners, Aubrey solicited investors for oil and gas investments. Instead of drilling [...]
$200 Million Ponzi Scheme Targeted Orthodox Jewish Community
Posted by admin in Fraud Recovery on November 7, 2011
by Brian Mahany
Readers of this blog know that we frequently report on religious affinity fraud. Catholics, the Black faith community, and even the Amish have seen multimillion dollar Ponzi schemes and frauds this year. Orthodox Jews are unfortunately no exception. According to a recent press release from the U.S. Attorney’s Office, the feds have indicted [...]
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