by Brian Mahany Our action against Allied Home Mortgage, which the court ordered unsealed last week after being adopted by HUD and the U.S. Attorney’s Office, is certainly the big news in the mortgage world. The feds now have billion dollar + claims against Allied and Deutsche Bank. Hopefully others will follow. American taxpayers have […]
US’ largest privately held mortgage lender sued by US and a CSAR
The attached article originally appeared in the IAAR news service. IAAR is the International Association of Asset Recovery. Its members specialize in fighting corruption and greed and in recovering money from fraudsters. Brian Mahany is a director of the organization. After this article was written, a feral jury in Houston found that Allied and Jim […]
Don’t Become A Material Advisor – What You Need to Know About Abusive Tax Shelters
[Updated through 2021][Ed. Note – the following guest post is by Lance Wallach. The post originally appeared in Accounting Today on July 1st of this year and is being reprinted here at the request of its author. In his post, Lance details the dangers faced by accountants and others who prepare returns that involve abusive […]
Tiny Law Firm Winds Up in Monster Case Seeking $2.5B
As published in the Milwaukee Journal Sentinel Retained to represent a former employee of a mortgage brokerage after he unsuccessfully sued over allegedly unpaid commissions, a tiny Milwaukee, Wis., law firm wound up with a monster case. Researching Allied Home Mortgage Capital Corp. for Peter Belli’s appeal, the Mahany & Ertl firm discovered Allied had […]
BREAKING NEWS – Mahany & Ertl at Forefront of Mortgage Fraud Battle
FOR IMMEDIATE RELEASE Nation’s Largest Privately Held Mortgage Lender Sued for Fraud Allied Home Mortgage Capital Corporation and its CEO, Jim Hodge, have been sued by whistleblower Peter Belli, a former Allied branch manager. Belli’s case, filed by Milwaukee law firm Mahany & Ertl, was today adopted by the U.S. government. The government joins Belli […]
U.S. sues Allied Home Mortgage for lending fraud
Seen quoted in Reuters BY JONATHAN STEMPEL AND GRANT MCCOOL Prosecutors sued a large U.S. mortgage broker and two top executives for an alleged decade-long fraud that cost the government hundreds of millions of dollars on risky home loans. The lawsuit seeks triple damages and civil fines against Allied Home Mortgage Capital Corp, which once […]
Nation’s Largest Privately Held Mortgage Lender Sued for Fraud
Allied Home Mortgage Capital Corporation and its CEO, Jim Hodge, have been sued by whistleblower Peter Belli, a former Allied branch manager. Belli‘s case, filed by Milwaukee law firm Mahany & Ertl, was adopted by the U.S. government. The government joins Belli and others in claiming that Allied lied about its compliance with HUD regulations. Allied has long been the target of many enforcement and compliance actions. […]
Government Seeks Nearly $2.5 Billion in Fraud Damages in Suit Against Allied Mortgage Capital
[Ed Note: The below is a reprint of an article appearing in the National Mortgage Professional, the leading industry publication for mortgage professionals. The case discussed in the article turned out to be one of the largest mortgage fraud whistleblower actions filed after the 2008 mortgage meltdown and banking crisis. The case was filed by […]
Massachusetts Claims BNY Mellon Guilty of Fraud
by Brian Mahany Leave it to William Francis Galvin, Secretary of the Commonwealth of Massachusetts. I met Galvin in 1995, shortly after his election. At the time I was Maine’s revenue commissioner. Galvin has stayed in government service and is certainly not afraid to take on the Wall Street big dogs. In this case, Bank […]
SEC Obtains Asset Freeze Order Against Massachusetts Based Offshore Hedge Fund
by Brian Mahany The SEC charged a Massachusetts based offshore hedge fund, Locust Offshore Management LLC and its operator Andrey Hicks with misleading investors. Criminal charges have not yet been filed. According to the complaint, Hicks told prospective investors that he had two degrees from Harvard. He also claimed to have previously worked at Barclay’s […]
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