by Brian Mahany Recently we have seen a spate of complaints against mortgage brokers and lenders. And its not just our office that is seeing the spike in claims. Nationally, since the financial meltdown of 2008, the number of overtime suits has increased by 37%. Many Americans have been pushed to the brink of insolvency. […]
The Tie Between Political Corruption and Violations of the False Claims Act
by Brian Mahany The federal false claims act was enacted during the Civil War to help a weak and struggling federal government recoup its losses from a multitude of government contractors who sold rancid rations, faulty gun powder and bad equipment to the Union Army. It’s purpose wasn’t to fight government corruption but in the […]
Mortgage Bankers Association, Labor Department Square Off Over Overtime Pay Rules
by Brian Mahany We have been following the overtime pay debate involving loan officers and the financial service industry in general. Presently we have several cases brought on behalf of present or former loan officers. In this economy, it’s not unusual to work long, long hours and for very little pay. Employees say they are […]
Unpaid Overtime Claims Against Banks and Brokers Spike – FLSA Post
by Brian Mahany Most people have not heard of the Fair Labor Standards Act or FSLA (it was passed post-Depression in 1938) but everyone knows when they have been wrongfully denied overtime or pay. Lately it seems one of the worst offenders are bankers and stockbrokers. Working in a factory on a time clock mens […]
Brits Fine Lloyds Banking Group For Payment Delays
by Brian Mahany We don’t discuss offshore stories very much unless it involves taxes. Seeing one of Great Britain’s leading dinged by regulators is worth discussing, however. Lloyd’s is one of the largest banks in Great Britain. Like some U.S. banks, Lloyds decided to offer payment protection insurance (PPI). This is the type insurance that […]
From STARS to SLOTS – More Tax Shelter Woes For Accountants (Accounting Malpractice Post)
by Brian Mahany Last weekend we wrote about STARS, a controversial tax shelter program recommended by accounting giant KPMG. That “star” exploded like a super nova earlier this week when a U.S. Tax Court upheld an assessment of approximately $800 million against Bank of New York – Mellon. Today, Accounting Today reports that another KPMG […]
More News On Phone Subsidy Mess – Whistleblower Opportunity
by Brian Mahany Just one week ago we posted an article about the developing controversy with the federal cellphone Lifeline program. A report first published in the Wall Street Journal said that as many as 41% of the 6 million participants in the program may not meet federal eligibility guidelines. This number was based on […]
"Too Big To Fail" or "Too Big For Trial" – bank fraud post
by Brian Mahany Anybody who reads this blog knows that we are not fans of the banking industry. While we know some great regional and community banks and bankers, we also know many more – including the big banks – that have done an abysmal job. In our humble opinion, they are responsible for the […]
IRS Wins Tax Shelter Case – Will Claims Of Accounting Malpractice Follow?
by Brian Mahany Earlier this week the United States Tax Court ruled in favor of the IRS in a widely watched corporate tax shelter case. The test case, involving Bank of New York Mellon, could cost the bank $800 million. Although BONY has promised to appeal, the loss may create a waive of accounting malpractice […]
Cell Phone Lifeline Program Great Whistleblower Opportunity
[Post updated January 2019] Today’s Wall Street Journal says it all. Millions of Americans illegally claimed eligibility to the Lifeline program. Now that the FCC has cracked down on the the eligibility guidelines and misspending, the question becomes who to blame. Is it solely the fault of greedy program participants who lied on applications or […]
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