Coronavirus causes a record number of hotels to default on their loans: report by Sarah Paynter, Yahoo! Finance (66K) Almost a quarter of hotels were delinquent on their mortgage payments in July, the highest rate on record, according to a new report. Some 23.4% of commercial mortgage-backed security (CMBS) loans, which finance many hotels, were […]
COVID-19 PPP Fraud – Defense Contractor Caught (Again)
[Updated August 2021] We are not big fans of the billing practices of big defense contractors. We need the products they sell but the prices they charge seem outrageous. Most people probably remember the scandal when the Defense Department was paying $14,000 for toilet seats and cups for $1,280. The greed doesn’t stop there. A […]
The IRS Goes Down Under (FATCA Post)
[Post updated 2019] An article in the Australian Financial Review claims that the IRS is ramping up its activities in Australia. According to the article, the IRS is “scrutinizing the tax affairs of United States citizens living in Australia with renewed intensity, as the worldwide battle to shore up dwindling government tax reserves heats up.” […]
Brit Established Cayman Fund AFTER US Court Arrest Warrant
[Originally posted in October 2010, now updated through 2021.] (Editors note: One of the best investigative journalists in the business is David Marchant. This story was first reported by David.) British citizen Sencer Sevket formed a mutual fund in the Cayman Islands after a U.S. federal court issued a warrant for his arrest on charges […]
QSR, August 2020
How Restaurants Can Tackle COVID’s New Insurance Challenges by Rachel Pittman | QSR (99K) When the coronavirus pandemic began, many brands found themselves facing unforeseen liabilities. Here’s how to protect against that in the future. It’s all too easy for operators to leave the fine print of their brands’ insurance policies to agents. The world […]
Haynes Kendall & Independent Financial Group – Investigation
The securities fraud lawyers at Mahany Law are investigating Haynes Kendall, a stockbroker and investment adviser employed at both Independent Financial Group LLC and Capital Financial Consultants Group. An investor reports losing a significant portion of his / her savings after investing it with Haynes Kendall. The customer claims his accounts were churned. Churning occurs […]
Will I Get Caught? Playing IRS Audit Roulette
“Will I get caught?” is one of the most common questions asked by potential tax cheats. The temptation to cheat the IRS is overwhelming for thousands of Americans. While no one knows whether and when they will be caught, the IRS has become much better at finding those who evade taxes. One of the best […]
SEC COVID-19 Fraud and Whistleblower Rewards
SEC Pays Whistleblower Rewards for Coronavirus Related Fraud Tips While many of us are looking out for our families and neighbors during this difficult time, fraudsters are looking for new ways to steal money by preying on people’s anxieties and need to make ends meet. Fortunately, the SEC remains fully staffed and has committed its […]
“Human Guinea Pigs” – Doc Busted in Twisted “Body Brokers” Scam
We have long written about patient recruiter scams. They are not only illegal, they are also dangerous. A few greedy doctors and clinics pay people – patient recruiters – to cruise the street looking for addicts, drunks, the homeless and emotionally disturbed people to seek treatment they almost never need. The recruiter is paid a […]
Guam Whistleblower Cash Rewards
America’s least populated state is Wyoming with just over a half million people, the U.S. territory of Guam has even fewer, just 162 thousand. Both have something in common, the federal False Claims Act. That law, passed in 1863, pays cash rewards to whistleblowers reporting fraud involving government programs or funds. Guam also follows the […]
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