by Brian Mahany It’s been a half decade from the dark days of the 2007-2008 financial crisis. Since then, most banks have paid back their TARP monies, government regulators have subjected banks to numerous “stress tests” to insure they are financially stable and Congress passed dozens of new laws to better regulate banks. There is […]
Former Irish Bank Prez Arrested By Cops – Ireland Takes Bank Fraud Seriously
by Brian Mahany Because we have a thriving offshore tax law practice, we read many foreign newspapers. This morning I was happily surprised to read the Irish Central and see Sean FitzPatrick, former CEO of Anglo Irish Bank, wearing handcuffs and being lead into a Dublin criminal courtroom by uniformed cops. FitzPatrick ran Anglo Irish […]
"I Don't Recall" – Confessions Of Bank Of America CEO Brian Moynihan
by Brian Mahany Bank of America chief executive officer Brian Moynihan’s deposition was just filed with the court after Thanksgiving. It reminds of some of the transcripts I have read dealing with mobsters. If there was an Academy Award or Oscar for the most stonewalling, Moynihan would be a shoe-in. Insurance giant MBIA sued Countrywide […]
Feds Jail Physician For Medicare Fraud – New Opportunity For Whistleblowers
by Brian Mahany Dr. Jonathan Agbebiyi, age 63, is going to spend his golden years in a federal penitentiary. A federal judge in Michigan sentenced him earlier this month to 60 months in prison for his role in a $5.4 million Medicare fraud. He was convicted of 6 counts of health care fraud. Prosecutors proved […]
Government Accuses Wells Fargo Of Massive Mortgage Fraud
[Post Updated] Lately we have been writing a lot of stories about Bank of America. It seems America’s biggest bank is also the most inept. Every now and then, however, they get a break and the bad headlines go to one of the other behemoth lenders. Today’s Wall of Shame honors go to Wells Fargo. […]
SEC Pays First Whistleblower Award
by Brian Mahany One year after the SEC finalized the rules to its new whistleblower program, the Commission’s Claims Review Staff announced its first whistleblower award. An unnamed person received $50,000 for providing information that resulted in a million dollar fine. Some commentators were disappointed with the first award – awards under the false claims […]
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 […]
Government Settles Deutsche Bank Mortgage Fraud Case
by Brian Mahany It’s easy to think there is no justice in the world, just turn on TV and watch the evening news. Every now and then, however, the good guys win. In the case of Deutsche Bank and MortgageIT, taxpayers will soon get back $202,000,000. In May of last year, the U.S. Attorney in […]
Whistleblowers Reaping Millions From Mortgage Crisis
by Brian Mahany Since February, all the focus of mainstream media has been about how much of the $25 billion mortgage settlement will filter down to homeowners. For many the relief comes too late, although millions of homeowners remain underwater on their home mortgages. The story not being reported concerns the millions of dollars being […]
Judge to SEC – I’m Not Your Handmaiden
by Brian Mahany Anyone interested in knowing about whistleblowers and the law should visit whistlewatch.org. That is the website of Whistle Watch – the Brown Center for Public Policy organization, an IRS recognized nonprofit. The organization is a clearing house for current information about whistleblower actions, laws and protections for whistleblowers facing retaliation. In the […]