by Brian Mahany The title of this blog is actually a quote from Joseph Borg, director of the Alabama Securities Commission. Borg testified before a Congressional subcommittee examining proposals to help Ponzi scheme victims. Congress wants SIPC (the Securities Investors Protection Corp.) to reimburse more victims for their losses. Those sentiments are laudable and make […]
Massive Healthcare Fraud Discovered
by Brian Mahany Federal prosecutors in Dallas charged a Texas physician and 6 others in a massive healthcare fraud. They say the defendants defrauded taxpayers of as much as $374 million dollars by making false claims to Medicare and Medicaid. Their crime spree went on for years before being caught. Healthcare fraud is nothing new. […]
Lenny Dykstra’s Rapid Fall From Grace
My early legal career was spent in the metropolitan New York City area. At about the same time I began practicing law, Lenny Dykstra began playing for the New York Mets. A phenomenal hitter, Dykstra was well loved in New York – even by rival Yankees fans. After retiring from baseball, he became a financial […]
Flagstar Fraud Case Settles for $133 Million
by Brian Mahany Flagstar Bank is the latest large lender to settle federal charges of mortgage fraud. Although Flagstar is based in Troy, Michigan, the case was prosecuted by the United States Attorney in Manhattan. (To date many of the large cases including our firm’s $2.4 billion dollar fraud case against Allied is being prosecuted […]
Unauthorized Trading – A Serious Problem
by Brian Mahany No matter how many rules and regulations, securities fraud remains a big problem. Most cases involve unsuitable investment recommendations but unauthorized trades are a close second. An unauthorized trade occurs when a stockbroker or investment adviser purchases or sells a security in your account without your permission. Because investment advisers do not […]
Lawyer Guilty of Fraud
Buried in today’s newspaper was a small headline, “Brookfield Lawyer Pleads Guilty to Fraud.” Whether local or out-of-town, I hate reading those headlines. When public officials, lawyers or cops steal, everyone suffers – not just their victims. In today’s case Thomas Bielinski pleaded guilty to felony theft by fraud. According to press reports, Bielinski combed […]
Texas Man Convicted In Mortgage Rescue Scam
by Brian Mahany American ingenuity – it can be used for good purposes or evil. Frederic Gladle of Austin, Texas is behind bars tonight because he chose the latter. The story of his crime is quite fascinating. Everyone knows someone who has lost their home to a foreclosure or is dangerously close to one. The […]
Net Branches – Recipe for Mortgage Fraud
by Brian Mahany Mortgage net branches – they are everywhere. If set up properly they help people get into the mortgage business with low start up costs. The benefits include access to a national network, more products and more lending lines. Customers get better rates while independents can enter the business without millions in start […]
Think You Have A Good Mortgage Fraud Case?
Whistleblower Rewards Available to Mortgage Company Insiders Post by by Joe Bird and Brian Mahany Many serious cases of fraud are not readily discernable. That should come as no surprise – those perpetrating the fraud spend much time and energy concealing it and convincing their victims that all is right with the world. Sometimes it […]
Author of "Bulletproof Asset Protection" Indicted!
by Brian Mahany William Reed is a former lawyer and the author of the book titled “Bulletproof Asset Protection.” As of July 2011 he can add an indictment to his resume. The feds have charged Reed with Conspiracy to Defraud the United States, Money Laundering Conspiracy and multiple counts of Aggravated Identity Theft, Mail Fraud, […]
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