The Financial Industry Regulatory Authority – FINRA – ended the year by warning stockbrokers to tread lightly when recommending their customers rollover monies from an employer 401(k) plan to an IRA. Beginning in 2014, regulators will start scrutinizing these transactions. Stockbrokers make money from commissions. Money sitting in a client’s employer sponsored retirement plan doesn’t […]
Dumb Money – Best Bet for 2014?
We couldn’t help but smile when the last Wall Street Journal of 2013 carried the headline, “Winners of 2013: Boring Investors”. It’s true! The best bets for this past year in the stock market have been plain vanilla portfolios. Unfortunately, many investors not only missed 2013 historic market gains, they lost money. How is that possible? […]
Safeguard Properties – Menace or Misunderstanding?
Safeguard Properties… an Ohio based property management company that manages and preserves at-risk and foreclosed properties. Sounds pretty legit, right? Many homeowners and the Illinois Attorney General say otherwise. In the words of the Lisa Madigan, Illinois Attorney General, “Safeguard has unlawfully dispossessed legal occupants of their homes by breaking into their houses, locking the […]
Electronic Wills – Convenience or Recipe for Fraud?
There are many probate lawyers in this country but few litigators that handle forged wills and undue influence cases. We support making it easier for bedridden people to craft a last will to assure their last wishes are heard and understood. There is a very small but growing trend for people to craft electronic wills. […]
PIWM – Nikolai Battoo… More Bad News
An article published on December 24th in the Bahamian online news service Tribune 242 reports that U.S. and BVI liquidators are again squabbling over who should be eligible to receive monies recovered from suspected fraudster Nikolai Battoo. As regulators readers of this website know, Battoo and marketing partner Tracy Sunderlage have been accused by the […]
Medicare Fraud Out Of Control
Medicare is a lifeline for millions of Americans. It is the only way many folks can afford to see a physician or purchase prescription drugs. Unfortunately, Medicare fraud costs U.S. taxpayers billions per year. A recent investigative journalism report by the public interest group ProPublica documents just how bad fraud has become. Using Medicare’s own data, […]
"Picking Up Pennies In Front of a Steamroller" – REIT Fraud Post
“Picking up pennies in front of a steamroller” is a quote from the weekend edition of the Wall Street Journal. It refers to the phenomena of investors chasing high yielding (and overpriced) REITs. We have long written about the dangers of REITs, particularly when they are thinly traded or illiquid. Many industry experts expect to […]
REIT Fraud Cases Increasing
We have written many articles about REITs and REIT fraud. A REIT is a Real Estate Investment Trust. While a good way for some folks to invest in large real estate projects and portfolios, they are not for everyone. One of the largest downsides is the lack of a secondary market for many REITs. That […]
Stockbroker Booted For REIT Fraud
Stockbroker fraud cases are nothing new. We are presently helping victims of Nikolai Battoo and PIWM get back millions in lost monies. Like the PIWM cases, many cases today against stockbrokers involve nontraditional or alternative investments. These include REIT fraud cases. A decision by the Financial Industry Regulatory Authority (FINRA) last week is unusual in […]
New Assets for Nikolai Battoo / PIWM Fraud Victims?
In any big Ponzi scheme, rumors usually fly. The hundreds of victims often scour the Internet hoping to get information about newly found assets and or potential criminal prosecutions. The frenzy surrounding Nikolai Battoo and Tracy Sunderlage is no different. Recently a victim told me that he once flew on Sunderlage’s private jet and wondered […]
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