by Brian Mahany The press releases from the U.S. Attorney’s Office in Manhattan yesterday did not reflect well on either the legal or accounting professions. In one case, a New Jersey lawyer was convicted in federal court of an investment fraud scheme. In the other, a former partner and CPA from accounting giant Grant Thornton […]
Archives for 2013
Updating The Allied Mortgage Saga – false claims post
by Joseph Bird It has been a while since we updated you on Allied Mortgage*, especially the US v Allied and Americus 2.5 billion dollar False Claims Act civil lawsuit. Since our last update, the case was transferred to a Houston, Texas Federal District Court. Many or the other peripheral cases have gone into hibernation […]
The High Cost Of Justice – legal services / best practices post
by Brian Mahany [Ed. Note: We will soon be launching a new blog, Best Legal Practices Blog. While our web team set up the new site, we welcome stories and posts. If you have something to share, send it along. My email address is at the bottom of this post.] Big lawyers and big law […]
Merrill Lynch Loses Appeal of FINRA decision – stockbroker fraud post
by Brian Mahany Chalk up another victory for the good guys. Over a year ago, we were quite excited when an arbitration panel for the Financial Industry Regulatory Authority – FINRA – issued a $64 million decision against Bank of America subsidiary Merrill Lynch Professional Clearing Corp. The euphoria was short lived as ML immediately appealed […]
Hook ‘Em and Book ‘Em – Former Texas Longhorn Star Charged WIth Affinity Fraud
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)
[Updated August 2019] 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. It is unfortunate that much of society views lawyers as nothing more than “hired guns.” Sometimes we are even called “whores.” Despite how we may be labeled […]
Dad Squanders Daughter's Inheritance, Bank Liable
by Brian Mahany A 41 year old Florida man was arrested after being accused of stealing his daughter’s $58,000 inheritance. Published reports and court records reveal that Willie Lockridge was the father of the victim. Apparently the victim’s mother died in 2011 and left almost $59,000 to her daughter. The girl’s uncle was court appointed […]
Victims in Stanford Ponzi Scheme To Receive Less Than 1 Penny On The Dollar
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 […]
Detroit Corruption An Opportunity For Whistleblowers
by Brian Mahany Last week I was in Detroit for business. As I drove by the U.S. courthouse, I remarked at the half dozen news vans parked outside the building. The taxi driver reminded me of the on-going criminal corruption trial of former Detroit Mayor Kwame Kilpatrick. Detroit residents know all about corruption. Unfortunately, Detroit […]
The Dark Side Of The Legal Profession (Ethics and Legal Malpractice)
by Brian Mahany A shocking 78-page complaint filed in a San Francisco federal court last week opens a rare window into the inner workings of some law firms. Like that old adage about watching sausage being made, the plaintiff does not paint a pretty picture. From excessive billing practices to conflicts of interest and false […]