Recently there has been a great deal of infighting among the various groups seeking to recover monies lost to Nikolai Battoo and his company, PIWM. The chief protagonists are the receiver appointed by a U.S. District Court and Bahamian liquidators. Although both sides are fighting to recover monies for PIWM fraud victims, their constituencies are […]
More Info on Columbia Property Trust REIT
We first wrote about Columbia Property Trust REIT (CXP) in early January. At that time we reported how after a 4 to 1 reverse split, many investors saw the share price of Columbia decrease by 45%. Nontraded REITs (Real Estate Investment Trust) are hugely popular but aren’t for everyone. They are far more speculative than many […]
“Ethical Failures” Within the American Banks – Whistleblower Post
If you ever suffer from insomnia, visit the Federal Reserve Bank’s speech page. Useful to economists, much of what comes out of the NY Fed is highly technical and difficult to understand. The President of the New York Federal Reserve Bank, William Dudley, is one of the most powerful men in America. He is also […]
Stockbroker or Insurance Agent – the Lines Are Blurry
[Updated 2020] We were very happy to see the Wall Street Journal write about the newest phenomena in the investment fraud world. The states and the Financial Industry Regulatory Authority (FINRA) do a good job policing the ranks of stockbrokers but are virtually powerless if the brokers they sanction simply go and apply for an […]
What’s Your REIT Worth? Nothing if You Can’t Sell It
Anyone reading this blog knows we are not happy with the REIT industry. While REITs represent a great way to invest in larger real estate projects, stockbrokers and investment advisers have a terrible track record of placing investors into these products. We are not the only ones to hold this opinion. The SEC, FINRA (the […]
"Banks Face Increased Whistleblower Risk" – Ya Think?
I chuckled when I read the lead story in Law 360 today, “Banks Face Increased Whistleblower Risk in 2014.” Although the story that follows is focused primarily on SEC whistleblower claims, the real storm is coming from FIRREA and federal False Claims Act cases. Throw in possible IRS whistleblower claims and it promises to be […]
Government Poised To Obtain $300 Million Judgment Against Nikolai Battoo
Every week we get calls from victims of Nikolai Battoo and his several Ponzi schemes – PIWM, Maven & BC Capital. Battoo has been hiding out in Switzerland since the SEC started pursuing him in September of 2012. The SEC’s case was been delayed for months because of the inability of the government to serve […]
New Profits for Big Banks? – Great News for Whistleblowers
The front page of today’s Wall Street Journal reports that “Profits Show Biggest Banks Are Back form the Brink.” We never doubted for one second that any of the big banks were really in trouble; they are called “Too Big To Fail” for a reason. Still, the renewed profitably is good news for whistleblowers. During […]
Court Overturns $11 Million Stockbroker Fraud Arbitration Award
Arbitration decisions are rarely overturned. People choose to resolve case by arbitration because the results are usually faster, less costly and final. By final we mean that the parties don’t have to wait for years of appeals before a case is finally over. For investors wishing to pursue claims against stockbrokers, most claims must be […]
Global Recovery Solutions & Christopher Veale
[Update through January 2021] When we first wrote this post in 2014, its title was Real Life “Wolf of Wall Street” Gets the Boot! Since it is such a great story, we have reprinted that post below and then updated it to reveal what we know today. One of the things we love to do […]
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