Securities fraud costs investors billions of dollars annually. Sometimes the promoter is the fraudster (think Bernie Madoff) and other times it is the stockbroker trying to make a quick buck. This week the Financial Industry Regulatory Authority – FINRA – levied a whopping $7.5 million fine against LPL securities for email violations. Email violations? Thats […]
The Warriors In Us
by Brian Mahany Unless we suddenly find ourselves at war with Syria, Iran or North Korea, our troops will not be in combat for the first time in many years. Unfortunately, that doesn’t mean that we aren’t waging other types of war. Evil is everywhere around us. We have the highest respect for our troops […]
Silent Screams – America's Growing Elder Abuse Problem
Elder Abuse – It’s not exactly a household word. While everyone has a mental picture of what that term means, most people don’t know how widespread the problem has become. The very victims are often unable to report the problem – if they even know they are being victimized. Those that do realize that they […]
Hooters Girls and Investment Fraud
The story written by Bruce Kelly of Investment News had all the makings of a tabloid scandal. Stockbrokers, forged documents, sexual harassment, an SEC investigation, Hooters girls and the misappropriation of customer funds from a prominent brokerage firm. The problem is that Kelly is a real journalist and the story he penned today about Commonwealth […]
Nationstar Mortgage Halted Foreclosure Proceedings in 23 States – Foreclosure Fraud
[with 2021 updates] In the latest foreclosure fraud scandal to come to light, Nationstar Financial admitted that it halted foreclosure proceedings in 23 states after receiving multiple complaints from state authorities. The admission came to light in documents filed with the SEC. This admission comes at a time when Nationstar is trying to raise $1.4 […]
Fake Drugs Represent New Whistleblower Opportunity
Fake and gray market pharmaceuticals represent a growing problem in the United States. Medical providers pressed by mounting costs sometimes resort to purchasing drugs manufactured in Turkey, India and other foreign countries. Unless produced in an FDA inspected facility, there is no way to insure those drugs are safe or even contain the prescribed amount […]
Sad Day For Cabot Tenants In Common Investors (TIC Post)
We represent dozens of tenants in common (TICs). Many of our clients invested with Carlton Cabot and Cabot Investment Properties. No telling where Cabot is hiding these days although its pretty common knowledge that investors, regulators and even the feds are hot on his trail. Whether or not his investors will ever be made whole […]
Lance Armstrong Named In Whistleblower Suit
by Brian Mahany Almost 2 years ago, Floyd Landis filed a false claims act (whistleblower) suit against teammate Lance Armstrong. That complaint remained under seal for over two years while the government investigated. Several weeks ago, the government intervened and adopted the action against Armstrong. The government seeks return of some $17 million in sponsorship […]
4 Million And Counting – People Facing Wrongful Foreclosure
by Brian Mahany Some call it a national embarrassment. We call it a crime. Wrongful Foreclosure. It’s happened to millions of Americans and it still happening today. The Comptroller of Currency and the Federal Reserve say that as many as 4 million people were wrongfully foreclosed between 2009 and 2010. Some were promised a HAMP […]
FINRA Issues Warning On Nontraded REITs – Stockbroker Fraud Post
We have written several times about the dangers of nontraded or thinly traded REITs. They are a popular way of investing in real estate but they can be difficult to sell or liquidate if an investor suddenly needs cash. There are other potential pitfalls as well. This week the Financial Industry Regulatory Authority – FINRA […]
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