by Brian Mahany Insider trading cases have been quite the buzz on Wall Street in recent years. Several well known traders and hedge fund managers have gone to prison after being caught using inside information to trade securities. When an “insider” has access to information ahead of the market, they have an advantage that allows […]
Stockbroker Arrested After Elder Fraud, Stealing From Church
by Brian Mahany There are bad stockbrokers who always seem to lose money and then there are BAD stockbrokers – those that are nothing more than common thieves. According to an article in InvestmentNews, one of those really bad brokers was charged with four counts of aggravated theft after cops say he stole money from […]
Adopting Your Girlfriend To Avoid Wrongful Death Claim? Epic Fail
by Brian Mahany Who says creativity and ingenuity are dead? Don’t tell John Goodman of Palm Beach, Florida. In what has to be one of the most bizarre and brazen attempts to avoid creditors, Goodman adopted his 42 year old girlfriend making her his daughter. Why? Ah, that’s the best part of the story. While […]
LPL Financial Accused of Elder Fraud, Ordered to Pay Over $1mm
Earlier this week we warned about the risks of purchasing complex and exotic derivative securities. We also warned about illiquid real estate investments and how they can be difficult to sell when you need to raise cash. They may be perfect for some folks but are often a bad idea for seniors. Last Friday an […]
Rising From The Dead – Old Mortgages
by Brian Mahany Last week a gentlemen came into our office and said that although he never missed a mortgage payment, his house was in foreclosure. “No way,” I thought. Some banks like Bank of America are abysmal record keepers but surely if you showed that you paid your mortgage any lender would stop the […]
Mortgage Settlement – Victory For Banks And Politicians
by Brian Mahany The purpose of this blog is to educate. Sometimes, however, we get pretty agitated and just have to vent some steam. Case in point is the national settlement between 49 states and the larger mortgage lenders. No sooner was the ink dry than politicians began the parade to the podium to declare […]
Early Warning For Investors – Non Traded BDC's
by Brian Mahany The amount of new financial products coming out of Wall Street never ceases to amaze. The industry is developing products faster than state regulators and FINRA (the Financial Industry Regulatory Authority) can issue new regulations. The newest hot product on Wall Street is a Nontraded Business Development Company or “BDC.” According to […]
419, CAPTIVE INSURANCE PLANS
Warning! Taxpayers Who Have Adopted 419, 412i, Sec. 79 and Captive Insurance Plans Beware. The Internal Revenue Service has declared an all out war on what they deem as fraudulent tax shelters. Unfortunately in their zeal to close the tax gap, many legitimate taxpayers find themselves in the crosshairs of the IRS. Regulators view many […]
Another Convicted Lawyer Suspended… But Only After 4th Conviction
by Brian Mahany Yesterday the Wisconsin Supreme Court suspended a St. Croix Falls lawyer Warren Brandt’s license to practice law. He is ineligible to practice for the next four months. Afterwards, he must undergo any necessary monitoring and treatment for alcohol dependency. Everyone in society can suffer from alcoholism – we have seen lawyers, doctors, […]
How You Can Join The Anti Fraud Team And Get Paid Too!
by Joe Bird You hear about it all too often. Your neighbors tell you about schemes they heard about run by “those guys” or unnamed friends to make lots of easy money. Sometimes it a boast at a party or social event about making millions by evading taxes or calling something it is not and […]
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