The federal False Claims Act allows ordinary people with inside information about fraud involving government funds to do something extraordinary. They can become whistleblowers, file a lawsuit on behalf of the government and keep a percentage of what the government collects. By now, a few mortgage bankers are saying what does this have to do […]
Ghost Branch Whistleblower Cases?
Mortgage company branch managers have a rough life. Profit margins are already squeezed and today, branch managers often face a second enemy, the banks and lenders that employ them. Caught in the middle between the front line workers (originators, underwriters) and the lenders themselves, most branch managers earn every dime of their pay. In order […]
Whistleblower Claims Hospital Used Medicare $ for BMWs
Medicare fraud is rampant in the United States and will probably get worse before getting better. With so many baby boomers now reaching retirement age, the demand for healthcare services is likely to increase. Most healthcare professionals are honest and hardworking and almost all entered the medical field with the noble idea of helping their […]
Too Little, Too Late? DOJ’s New White Collar Push
The banking and housing crisis happened almost a decade ago. The U.S. Department of Justice has prosecuted many white collar criminals over the last eight years, however the bankers responsible for the mess walked away scot-free. The government prosecutes inside traders, Ponzi schemers and Medicare fraudsters. But bankers? Only if they helped hide offshore accounts. […]
Big Whistleblower Cases Still Exist!
In late 2014, the Justice Department announced that it settled several whistleblower cases against Bank of America for $16.65 billion. Pundits and commentators said that case was the end of the big bank whistleblower cases. Apparently New York Attorney General Eric Schneiderman never received that memo. New York, along with the feds and several other […]
Oil at $20 a Barrel? Bad News for Shale Bonds
As I write this post in Rome, gasoline prices are about 1.32 euros per liter. That’s still much higher than U.S gas prices. While higher pump prices generally mean more profits for oil companies and their shareholders, don’t expect a return to normal worldwide prices soon. Unfortunately, that means more oil exploration and production companies […]
Bank of America Tagged Again in Billion $ Bank Fraud
Bank of America and several other “too big to fail, too big to jail” banks have apparently agreed to settle bank fraud charges claiming they manipulated the credit derivatives market. We have long said that ordinary investors face an uphill battle when investing in the stock market. If the fraud allegations against the banks in […]
Oldest California Whistleblower Suit Dismissed
J. Martin Gerlinger was a much younger man in 1994. We all were. That year he filed a whistleblower suit against the Parsons – Dillingham Metro Rail Construction Joint Venture. (That’s quite a mouthful, we will just call the company Parsons Dillingham.) Over two decades later, the case was finally put to rest. This year […]
Brokerage Firm Liable for Ponzi Pastor’s Theft
Aubrey Lee Price had an interesting life. He went from being a minister to a trusted financial advisor and banker and later a fugitive. Along the way, he faked his own death but was later captured and sentenced to 30 years in prison. Aubrey Price was the mastermind of $40 million Ponzi scheme. While his […]
Freedom Mortgage, Veterans & Vladimir Putin?
Freedom Mortgage is a big company. They are one of the largest lenders focusing on VA loans. According to one veteran, however, they may be preying on our military men and women. We have been contacted by a potential client /veteran who is certainly unhappy with Freedom. Those who regularly follow this blog know that […]
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