Software giant CA Technologies Inc has agreed to settle a false claims act claim (whistleblower suit) brought by a former employee. The settlement requires the company to pay $8 million to the federal government and an additional $3 million to several states. CA Technologies is a Fortune 500 company and one of the largest software […]
Archives for 2013
Ponzi Schemer Richard Schwartz Bilks Investors, Takes Own Life
[Ed. Note: The following post comes from our friends at John S. Chapman at Chapman LLC. We frequently post articles or posts from lawyers we know. John is a lawyer that represents victims of Ponzi schemes and fraud. John and his team can be reached through his website.] Former investment advisor, Richard Schwartz of Kokomo, […]
Captives and Life Insurance – A Deadly Combination
We have posted several articles on captive insurance fraud and each one has prompted a certain amount of controversy. That’s good because it get people thinking. Unfortunately, as fraud recovery lawyers, we see cases where investors lost battles with the IRS over captive insurance programs. Even worse, we often see captive insurance programs that are […]
States Crack Down on Investment Fraud
There is an old adage that says, “The grass is always greener on the other side.” Don’t tell that to the thousands of investment advisers who switched from SEC regulation to state regulation. The Dodd Frank Wall Street Reform and Consumer Protection Act allowed investment advisers with assets under management between $30 million and $100 […]
Nikolai Battoo and Tracy Sunderlage – "Sons of Madoff"?
It’s Halloween weekend and kids throughout the country are dressed in costume. (Same for a fair amount of adults in college towns too.) 75 years ago, the public was terrified when the hit movie Son of Frankenstein was released in theaters. Today it takes more than a movie to scare most adults. For this Halloween […]
What Keeps Managers Up At Night? DOL Classification Issues!
A survey released this month by Littler Mendelson claims that an “explosion” of wage and hour cases are causing many C-suite execs and their HR managers to lose sleep at night. According to their research, roughly half the businesses surveyed are worried about a DOL classification audit and almost 60% under audit have encountered employees […]
Is the End at Hand for Tracy Sunderlage & Nikolai Battoo?
We have closely followed the many legal cases surrounding Nikolai Battoo and Tracy Sunderlage. Together they, and entities controlled or involved with them, have cost investors hundreds of millions of dollars. Our clients alone have lost many millions. A sampling of the entities connected with the two men or engaged in similar activities include PIWM, […]
Whistleblowers and Security Clearances
There was an interesting article in yesterday’s Wall Street Journal; a front page piece on US Investigations Services LLC (better known as USIS). They are the firm that gave Edward Snowden his security clearance. According to the Journal, USIS’ CEO Bill Mixon was “flogging” his employees for not expediting security clearances. One former company official […]
Senator to SEC: Strengthen Stockbroker Fraud Rules
Following a recent expose in the Wall Street Journal, Massachusetts Senator Edward Markey called on the Securities & Exchange Commission to strengthen FINRA’s ability to fight stockbroker fraud. (FINRA is the Financial Industry Regulatory Authority, a self regulatory organization that derives its enforcement powers from the SEC.) The Journal reported that over 5000 stockbrokers are […]
Is Bambi Holzer A Fraud? Some People Think So
Bambi Holzer – investment adviser to celebrities and prolific author of books on money and investing. In 2007, she published “Financial Bliss.” According to one review, the book is a valuable “guide that helps couples solve money problems and create a life plan.” Dozens of former clients have a different opinion; they think she almost […]
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