We have nothing against the government of Puerto Rico or the 3.5 million people who live there. Politicians on the island, however, have spent way too much money. Whenever a government issues bonds, it is borrowing money today that must be paid back tomorrow. The “American way” seems to be borrow, borrow, and borrow. Unfortunately […]
Rearranging Deck Chairs on the Titanic (Bank of America)
Regular readers of this blog know we are not particularly fond of Bank of America. Our least favorite “too big to fail, too big to jail” bank has been caught red handed multiple times by the Department of Justice. The epitome of Bank of America’s fraudulent behavior resulted in the largest civil settlement against a […]
Medicare Fraud Charges Against Home Health Care Agency
[Post updated through conviction and sentencing] The Justice Department is hot on the trail of Medicare fraud scams across the United States. In the last several years, prosecutors have indicted hundreds of healthcare professionals and recovered billions of dollars from wrongdoers. Unfortunately, although the statistics sound impressive, Medicare is only able to recover a small […]
UBS Tagged (Again) Puerto Rico Bond Scandal
First it was unreported foreign accounts and now it’s a junk quality Puerto Rico bond fund offering, UBS certainly is not making many friends these days. Every week we write a new column about the latest investor win against UBS and this week is no exception. An arbitration panel of the Financial Industry Regulatory Authority […]
Lowlife of the Year (Medicaid Fraud Post)
[Updated June 2019] Because we are fraud recovery and whistleblower lawyers, we see losers and lowlifes every day, especially in Medicare fraud cases. People like Dr. Farid Fatah convicted of giving people dangerous cancer drugs even though they didn’t have cancer. At least one patient reportedly died as a result of complications. Today we have […]
Another Win for UBS Puerto Rico Bond Fund Investors
Three investors who claim they were defrauded by UBS Financial Services in connection with the bank’s failed Puerto Rico bond fund won a significant victory this week. UBS and several other brokerage firms face a waive of claims related to the failed offerings. UBS disclosed last month that it faces up to $1 billion in […]
More Bad News in the Oil Patch for Shale Bonds
This post is being written at 41,000 feet on my way home from Texas. The news around the oil patch is quite bleak. Motorists may be rejoicing the possibility of gasoline below $2.00 per gallon but that is bad news for American oil exploration and production companies and the people who bought shale bonds and […]
Seeking Oil Industry Whistleblowers
Recently we received a call from a gentleman who claims that U.S. oil companies are paying massive bribes in certain countries in the hopes of obtaining favorable treatment. We know that activity routinely occurs in certain South American countries be we haven’t heard of U.S. companies engaged in this behavior. The Foreign Corrupt Practices Act […]
Senator Blasts Kmart in False Claims Act Suit
Senator Grassley is almost as much of a hero to whistleblowers as was Abraham Lincoln. Congress passed the original False Claims Act law during the Civil War at the behest of President Lincoln. Over one hundred and fifty years later the law is still on the books and remains the nation’s primary whistleblower statute. Under […]
Stockbroker Fraud – Changing Client Documents
As the states, SEC and Financial Industry Regulatory Authority (FINRA) crack down on stockbroker fraud and the sales of risky investments, some firms are cleaning up their acts. Others, however, are apparently forging customer risk profiles. At least that is what two former stockbrokers claim in a $20 million whistleblower retaliation lawsuit. Anyone who has […]
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