by Brian Mahany
Many investors believe the government will watch their back and protect them from investment frauds. While most will admit that the government can’t stop every fraud from occurring, few believe that the government itself can be charged with fraud. Think again. Federal regulators from the SEC brought the first ever complaint against a …
Tag Archives: fraud
SEC Sues New Jersey for Fraud (or What Happens When the Regulators Break the Law)
Fraudsters Beware - Homestead Exemptions Don’t Always Work
(Asset Protection and Asset Recovery blog post)
by Brian Mahany
Why do so many fraudsters live in Florida? Some would say its the climate but more probably, it’s Florida’s unlimited homestead exemption. Under Florida law, creditors cannot force the sale of one’s primary residence to satisfy claims and judgments. Many lawyers and creditors believe that protection is …
How Stupid Can They Be? Plenty! (Fraudulent Conveyance Post)
How Stupid Can They Get? Plenty Stupid!
(A discussion of fraudulent conveyances)
by Brian Mahany
It was inevitable - massive fraud in the government’s bailout program from 2008. The U.S. Troubled Assets Relief Program (or “TARP”) had it’s first major arrest. Charles Antonucci, former head of New York’s Park Avenue Bank, was indicted for fraud, embezzlement and misappropriation. …
Clawbacks - Latest Tool in Fraud and Asset Recovery
Clawbacks! Friend or Foe - you decide.
by Brian Mahany
The term “clawback” is relatively new. In fact, you won’t find it in most dictionaries and even the on-line Wiktionary is quite vague in its definition; “Any recovery of a performance related payment based on discovery that the performance was not genuine.” But ask the victim or …
Send In the Clowns (Asset Recovery & Protection)
by Brian Mahany
In January I wrote a piece titled “Do You Know Who Is Handling Your Money?” That piece discussed how TV star Willie Adams (star of reality television show “Broke and Famous”) was now licensed to be a financial planner. Willie isn’t alone.
The newest entrant in my personal “Hall of Shame” is Kevin Trudeau.
Trudeau …
250 Dead Taxpayers Seek Refund From IRS? Identity Theft Extends Into The Grave.
By Brian Mahany
Every year at election time someone jokes about “voting early and often.” Those jokes often refer to Chicago politicians and stories of dead people voting two or three times. For this story we head west to California where two men have bee indicted for filing 250 refund returns, all fraudulent and all for …
Do You Know Who Is Handling Your Money? You Should.
How Well Do You Know Your Financial Professional?
Recently I blogged about the Financial Industry Regulatory Authority (”FINRA”) and the gaps in their “Broker Check” system. Since writing that piece, FINRA has begun correcting some of the problems. Unfortunately it is difficult to check the compliance histories of most other financial professionals. Few people know how …
Main Street Takes on Wall Street’s Untouchables - the Lawyers & Accountants. (Aiding and Abetting Liability)
by Brian Mahany
By now, few are shocked when the nightly news breaks a story of a new Ponzi scheme. Not a week goes by without new tales of corporate greed or insider trading. The feds do a fair job in prosecuting these frauds, at least in the high profile cases. But what does a 20 …
Obama’s Financial Fraud Enforcement Task Force - Same Ole, Same Ole?
by Brian Mahany
In many ways, the United States government is more about public relations and propaganda and less about action. Take the recent press event in November announcing the creation of the Financial Fraud Enforcement Task Force.
Facing rising public and political pressure in the aftermath of the last year’s financial meltdown, President Obama signed an …
Asset Recovery - Doing Things the Right Way
A recent article in Asset Recovery Watch discussed how lawyers often rush to U.S. courts when trying to recovery monies that are hidden in foreign countries. Unfortunately, in my experience the author of that article is quite correct. Every case is different, but when dealing with fraudsters and foreign assets, trying to get a quick …