by Brian Mahany Fraud is so prevalent these days. We could write a dozen stories a day, half just from press releases coming from the SEC. The cases that are particularly depressing involve affinity fraud – investment schemes that prey upon members of close knit groups or communities. We have seen many such cases involving […]
Why We Need Whistleblowers
by Brian Mahany Several months ago I wrote a story while sitting in an airport hotel in Pittsburgh. It was of a local physician who stood up to corrupt medical practices. Dr. Tullio Emanuele claimed other doctors were performing unnecessary cardiac patients on patients just to collect Medicare and insurance money. By being a whistleblower […]
Federal Appeals Court Rules In Favor Of Homeowner In Sub Prime Case
by Brian Mahany We keep saying that courts are finally beginning to wake up and realize that not all lenders and loan servicers were created equally. Recently a federal trial court in Ohio tossed claims against Bank of America and its progeny, Countrywide Home Loans. A husband and wife homeowner sued the lenders for fraud […]
NJ Court Refuses To Enforce Loan Provision Prohibiting Borrower From Suing
by Brian Mahany I thought I had seen everything until I read a story about Investor’s Saving Bank. If you haven’t figured out why juries dislike lenders and are awarding large judgments against banks, read on. A New Jersey company sought mortgage funding from Investors Savings. At the closing, Investors only provided half the funding. […]
Accounting Firms Chosen To Monitor National Mortgage Settlement
by Brian Mahany Joseph Smith is a powerful guy. He is the monitor of the $25 billion national mortgage settlement hammered out by 49 states, the federal government and several large lenders including our perennial “favorites”, Bank of America, Wells Fargo, Citi and Chase. As part of the settlement, several major lenders promised to clean […]
The Many Faces Of Fraud
by Brian Mahany We strive to be the best fraud and tax law firm. Anywhere. Many of our blog posts concern fraud; usually cases we are involved in or stories we hear from our clients and readers. Mortgage fraud, stockbrokers who mislead investors, accountants and lawyers that take advantage of clients and companies that are […]
Audit Firm Named In Class Action Suit For Failure To Detect Fraud
The audit system in the United States is largely broken. Most auditors are financially dependent on the very people they are required to audit. If you perform a rigorous audit and get a reputation for not giving clients high markets on their financials you will soon find yourself with no clients. Fail to report something, […]
Common Mistakes Made by Homeowners Seeking HAMP Modification
by Brian Mahany Almost every day we are contacted by a potential client who was denied a HAMP mortgage modification. For those unfamiliar with HAMP, the program’s formal name is the Home Affordable Modification Program. The program was part of the stimulus bill in 2008. When Congress gave billions to Wall Street and big banks […]
Morgan Stanley Whistleblower Fired, Fights Back
by Brian Mahany It’s no secret that we support whistleblowers. We think they are the new American heroes. While its nice to go to the movies and watch Spiderman and the Avengers, the real heroes are the men and women who put their job on the line by standing up to corruption and fraud. That’s […]
Can I Sue For Denial Of HAMP Loan Modification?
by Brian Mahany “Can I sue for denial of a HAMP loan modification” is a question we frequently hear. Some lenders (Bank of America, Citi, Wells Fargo) seem to run borrowers through the ringer only to ultimately deny them a mortgage modification. That’s a shame since Congress authorized the Home Affordable Modification Program as part […]
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