If you are reading this post you are either curious or a sophisticated insider who knows all about HFT – High Frequency Trading. While high frequency trading is often legal, there is definitely a dark side to the industry – folks who combine ultra high speed computers with early access to inside information about earnings […]
Whistleblower Receives $14 Million from SEC
The government may be shut down for a few days but one lucky whistleblower will soon be receiving a check for $14,000,000.00 according to the SEC. Although the whistleblower chose to remain anonymous, we do know that his or her information helped the government recover tens of millions of dollars on behalf of defrauded investors. […]
Mortgage Execs Face Civil Charges But No Jail – Whistleblower Post
by Brian Mahany Once upon a time, Thornburg Mortgage was one of the largest real estate lenders in the nation. Like our perennial “favorite” Allied Home Mortgage, Thornburg had more than its fair share of problems. While HUD ultimately caused Allied to collapse, Thornburg met a similar fate after a $36 billion bankruptcy filing. Four […]
Mahany & Ertl – A Proud Tradition Of Helping Whistleblowers
by Brian Mahany The following is a letter written by Evy Brown, Director of Whistlewatch.org, a leading advocacy group for whistleblowers. Although the letter was previously circulated within the whistleblower community, we have changed the name of the client. The attorney named in this letter is our very own Joe Bird. Joe heads up both […]
Whistleblowers Claim That Deutsche Bank Hid Billions In Losses
by Brian Mahany In yet another chapter in the tales of the banks deemed “too big to fail,” 3 former employees of Deutsche Bank have come forward and accused the banking giant of intentionally hiding billions of dollars of trading losses from regulators. During the height of the financial crisis, the bank’s CEO was quoted […]
Obama Win Good For Whistleblowers
by Brian Mahany This blog tries hard to stay away from politics. Whether you are a Republican, Democrat or disenfranchised doesn’t matter to us. The Democrats hold over the Senate and re-election of Barack Obama is a win for whistleblowers in financial fraud cases. It’s no secret that the Wall Street elite and banking world […]
Another Big 4 Accounting Firm Called On The Carpet
by Brian Mahany It’s no secret that we are not fans of the Big 4 accounting firms, particularly when it comes to their auditing practices. It’s not these firms don’t employ good people, they do. Rather, the huge accounting firms frequently lose their independence, especially when called upon to audit a client that generates millions […]
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 […]
America Needs Heroes
America – and the world – is in a mess. Our economy is teetering on the brink. Entire nations are on the verge of insolvency. Countries that celebrated “Arab spring” just a few short months ago with the toppling of dictators now find themselves fighting amongst themselves and on the brink of civil war. And […]