by Brian Mahany We are never surprised anymore when the feds announce a new wave of indictments against taxpayers with unreported accounts. Until 2008, the IRS didn’t look very hard and prosecutions were few. As the economy has soured, tax authorities around the world have become quite creative in finding new revenue streams. To enforce […]
Important Victory For Government Whistleblowers
by Brian Mahany When I was a government agent, I had to swear an oath to uphold the law and defend the Constitution. As everyone knows, people in all walks of life break the law. Whistleblowers who have the courage to come forward are often the target of retaliation. Theoretically, the last place one would […]
"Big Law" On Trial For Missing Statute of Limitations – Legal Malpractice
by Brian Mahany We don’t like to see lawyers make mistakes. It happens, however, and hurts the reputation of the entire profession. Often the mistake can be fixed for little or no cost. There might be some attorney’s fees or sanctions levied against the offending lawyer but most claims are easily resolved. Sometimes they are […]
Judge Refuses To Throw Out Suit Against Bank Of America
by Brian Mahany A federal judge in Manhattan again refused to dismiss a suit brought by a group of investors who purchased stock in the nation’s largest bank, Bank of America. They say the beleaguered lender lied about its foreclosure practices and misled them. They also say that the bank hid billions of dollars worth […]
Cal Appeals Court Helps Bad Brokers Hide Their Record From Investors
by Brian Mahany We have long been a fan of BrokerCheck, the free web based database that allows the public to see what type of complaint and disciplinary history their broker has. To be sure, the system has some flaws but it is still a great way to perform your own due diligence on stockbrokers. […]
Another Big 4 Accounting Firm Called On The Carpet
by Brian Mahany It’s no secret that we are not fans of the Big 4 accounting firms, particularly when it comes to their auditing practices. It’s not these firms don’t employ good people, they do. Rather, the huge accounting firms frequently lose their independence, especially when called upon to audit a client that generates millions […]
SEC Pays First Whistleblower Award
by Brian Mahany One year after the SEC finalized the rules to its new whistleblower program, the Commission’s Claims Review Staff announced its first whistleblower award. An unnamed person received $50,000 for providing information that resulted in a million dollar fine. Some commentators were disappointed with the first award – awards under the false claims […]
Allied Home Mortgage and Pinocchio
by Joe Bird, Esq. Many of us were introduced to the concept of lying and its destructive powers through the story of little Pinocchio. A wooden puppet magically animated, yet unable to lie without his wooden nose growing longer and longer with each lie. Real life often mimics classic tales. Take for example little Jim […]
Bank Of America Keeps Fraud Settlements Confidential
by Brian Mahany A lawyer recently asked about Bank of America’s policy of confidential settlements. It’s a good question and one in which we know some of the answers. But of course, we can’t answer because, well… homeowners (and their attorneys) who sue Bank of America typically are not allowed to discuss the terms of […]
Bank Of America vs WikiLeaks
by Brian Mahany It’s been 631 days since Bank of America, Master Card and others have blocked donations to WikiLeaks. For those not familiar with the organization, WikiLeaks is a nonprofit media organization. Since its formation several years ago, both the organization and its spokesperson, Julian Assange, have been surrounded by controversy. Some say that […]
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