From 2006 through 2011, Anderson Scott Hall and the company he ran, Abaco Securities International, were household words in Jacksonville, Florida. Abaco conned many Duval County teachers and administrators into turning over their hard earned savings. Prosecutors say millions in savings. Hall’s clients were promised stable, secure investment returns from 6 to 18%. Instead of being invested, […]
Weil, Gotshal Kicks 170 To Curb
Is Big Law Dying? [Ed. Note: This post was originally printed on our sister blog, Guerilla Law Firm Blog.] When my mother was still alive and living in a skilled care facility I would try to visit often. Because we were 2000 miles apart, I could only manage monthly visits. Each time I would arrive, […]
No Show Doctor Convicted of Medicare Fraud – Whistleblower Post
New York physician Gustave Drivas was convicted of federal Medicare fraud following a trial in a Brooklyn federal court. He faces 20 years when sentenced later this summer. Medicare fraud costs taxpayers billions each year. Thankfully many of these crimes are solved by whistleblowers. According to court records, Drivas was affiliated with a clinic in […]
Inspector General Vacancies Hurt Whistleblowers
We were caught off guard this morning by a Wall Street Journal report revealing that several federal agencies had not filled Inspector General (IG) vacancies. Some agencies, like the State Department, have not had an inspector general since 2008! There are 78 inspector generals in the United States. Or at least there should be. Many […]
89 Year Old Millionaire Heads To Prison For Inheritance Fraud
Anthony Marshall, age 89, will soon be the oldest person in New York to start serving a prison sentence for a nonviolent felony. His crime? Marshall was convicted of stealing money from his mother’s estate while she suffered dementia. The mother, famed New York philanthropist Brooke Astor, died at the age of 105. Marshall’s age […]
FHFA's Settlement With Citi A Charade?
[Ed. Note: The following post was written by Charles Seavey. Charles is an excellent writer and frequently posts on LinkedIn’s Securities Fraud and Financial Crimes groups. When not writing about fraud, he also is an accomplished attorney. The opinions in this piece are his. Stories like this should be upsetting to everyone who believes in […]
The Dirty Back Room Deals – Securities Fraud Post
Securities fraud has been around since the Philadelphia Stock Exchange became America’s first stock exchange in 1790. The types of fraud may be different but all are driven by greed and avarice. A recent complaint by a stockbroker at J.P. Morgan Securities reveals some light on the dirty side of the brokerage industry. The former […]
Have We Gone from "the Rule of Law" to "the Rule of Lawyers"?
[Ed. Note: This story about how America has become a nation governed by the “Rule of Lawyers” was originally published on our sister blog, the Guerilla Law Firm Blog.] Last weekend’s Wall Street Journal featured a story by Niall Ferguson titled “How America Lost Its Way.” The story is excerpted from Ferguson’s new book, “The […]
C Corp, S Corp, LLC… REIT?
[Update: Did you lose money in a non-traded REIT investment? Visit our REIT fraud page to learn how to recover your losses.] Real Estate Investment Trusts (REIT for short) are the newest way some companies are seeking to avoid corporate income tax. According to a story published on June 8th in the Wall Street Journal, […]
A smoking gun pointing to the financial crisis in March 2007
[Ed. Note: The following story comes from Dwight Haskins. The entire story appears on his blog [no longer available]. Dwight is one of the most passionate whistleblower advocates we know. He is a former senior financial analyst and government bank regulator. We have previously carried some of his stories on our blog, Due Diligence. ] by Dwight […]
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