Gibson Dunn on GE's Oil-for-Food Fraud Case The American Lawyer … such settlement the SEC has struck with companies accused of paying kickbacks in the oil-for-food program, according to The Wall Street Journal. … and more
CPI Financial New Financial Law Contains Whistleblower Protections and Incentives Security Management Under the Dodd-Frank Wall Street Reform and Consumer Protection Act (.pdf), whistleblowers are directed to report fraud cases directly to the Securities and … Massive whistleblower incentives included in new Wall Street reform law Lexology (registration) Law Lets Whistle-Blowers Get Rich For Doing The Right Thing Forbes Letting Wall Street off the hook Socialist Worker Online American Thinker (blog)
Categorized | Trusts, assignment of mortgage, chain in title, fannie mae, foreclosure, foreclosures, mortgage, non disclosure, servicers, trustee, truth in lending act …. S.E.C., saxon mortgage, scam , securitization, servicers, settlement , sewer service, shadow foreclosures, shapiro & fishman pa, short sale, siva, spear & hoffman, Steven J Baum, steven mnuchin, stock, STOP FORECLOSURE FRAUD, stop foreclosure fraud, stopforeclosurefraud.com, sub-prime, Supreme Court …
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Fannie Mae Requirements for Document Custodians |
Ross Mandell, ex-trader in fraud case, peddles his reality TV show Washington Post NEW YORK — A former Wall Street trader accused with associates of swindling more than $140 million from investors is angling for his own reality television … and more
Ex-trader accused of fraud seeks to clear name on TV Broadcast Newsroom By Reuters NEW YORK (Reuters) – A former Wall Street trader accused with associates of swindling more than $140 million from investors is angling for his …
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Ex-trader accused of fraud seeks to clear name on TV – Broadcast Newsroom
Minnesota, God and the $190 million fraud CNNMoney Kiley called his listeners “truth seekers” and appealed to their distrust of Wall Street and the government. Cook said that he could trade currencies with …
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Minnesota, God and the $190 million fraud – CNNMoney
Financial reform law will reward whistle-blowers Omaha World-Herald WASHINGTON — The new financial reform law has what some lawyers call a secret weapon against fraud on Wall Street and in corporate America: the promise of … Paid to Whistle CFO.com Magazine all 2 news articles
Globe and Mail Dell Agrees to $100 in Penalties to Settle SEC Accounting Fraud Charges Lawyers and Settlements “Dell was only able to meet Wall Street targets consistently during this period by breaking the rules.” The legality of the rebates is also coming under … Wall Street Breakfast: Must-Know News Seeking Alpha (blog) Dell to Pay $100 Million Settlement New York Times 'A Bad Way to Run a Railroad': Dell Pays Big to Settle Fraud Charges Wall Street Journal (blog) USA Today
Washington Post Inquiry Begun of SEC Timing in Goldman Fraud Case New York Times In the letter, Mr. Issa noted that a July 17 article in The Wall Street Journal about the settlement reported that Robert Khuzami, the director of the SEC's … Slapped wrist for Goldman and it's straight back to business Financial Times Burg Simpson Seeks Justice for Victims of Investment Fraud 24-7PressRelease.com (press release) As financial reform becomes law, SEC emerges with new powers and duties Washington Post Daily Markets
Globe and Mail Dell to Pay $100 Million Settlement New York Times Company executives, according to the SEC, relied on the payments from Intel to meet or surpass Wall Street's expectations. Intel paid Dell in the form of … Wall Street Breakfast: Must-Know News Seeking Alpha (blog) 'A Bad Way to Run a Railroad': Dell Pays Big to Settle Fraud Charges Wall Street Journal (blog) Dell Agrees to $100 in Penalties to Settle SEC Accounting Fraud Charges Lawyers and Settlements USA Today
Financial reform law includes big cash incentives for whistle-blowers Los Angeles Times The new financial reform law has what some lawyers call a secret weapon against fraud on Wall Street and in corporate … and more
Dell agreed to pay a $100m penalty to settle a fraud charge by the Securities and Exchange Commission alleging false accounting based on undisclosed payments from Intel
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Dell settles with SEC over fraud charge
… or send mortgage payments to a third party, according to Fannie Mae, which provides fact sheets on mortgage fraud. 2. Loan Documentation Fraud The Scam : This fraud involves numerous schemes in which a borrower provides inaccurate …
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J.T. Oden (the Real Estate Man): 5 Real Estate Scams You Need to …
… become renters of their home, not contact their lender, or send mortgage payments to a third party, according to Fannie Mae, which provides fact sheets on mortgage fraud. 2. Loan Documentation Fraud. The Scam : This fraud involves …
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Beware of Mortgage Fraud – It's still happening!
… or the application is unsigned or undated, according to Fannie Mae. 3. Appraisal Fraud. The Scam : A faulty appraisal — saying a property is worth more than what it really is — is connected to many types of mortgage fraud. …
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Five Real Estate Mortage Scams to Watch Out For | NevadaCounty.com
ABC Online 'Innocents' help commit credit card fraud The Age The ring advertises on legitimate job sites, offering large sums of money for people willing to work as ''dispatch managers''. … Credit card scam targets vulnerable job-seekers The Age Job-seekers tricked into handling stolen goods ABC Online all 4 news articles
5 Real Estate Scams You Need to Know About Don’t be duped by mortgage fraud. Here are a few common scams and the red flags you should look for in a transaction. By Melissa Dittmann Tracey | August 2010 Mortgage fraud is pervasive: An estimated … to sign over the title of their house to a third party, become renters of their home, not contact their lender, or send mortgage payments to a third party, according to Fannie Mae, which provides fact sheets on mortgage fraud. …
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5 Real Estate Scams You Need to Know About
With Fannie and Freddie also big buyers of Wall Street mortgage bonds, their regulator this month used its subpoena power to seek documents and see if it could recoup losses for the two companies, which have received tens of billions in …. scam , securitization, servicers, settlement, sewer service, shadow foreclosures, shapiro & fishman pa, short sale, siva, spear & hoffman, Steven J Baum, steven mnuchin, stock, STOP FORECLOSURE FRAUD, stop foreclosure fraud …
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FORECLOSURE GAME CHANGER? Mortgage Bond Holders Challenge Loan …
… or send mortgage payments to a third party, according to Fannie Mae, which provides fact sheets on mortgage fraud. 2. Loan Documentation Fraud. The Scam : This fraud involves numerous schemes in which a borrower provides inaccurate …
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5 Real Estate Scams You Need to Know About -by Melissa Dittmann …
Digits Live Show: Virtual Goods Show High Risk of Fraud Wall Street Journal (blog) The Wall Street Journal's Ben Worthen and Jessica Vascellaro discuss the growing market for digital wares and the steps that social-networking and gaming …
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Digits Live Show: Virtual Goods Show High Risk of Fraud – Wall Street Journal (blog)
The trustee in charge of tracking down losses from Bernard Madoff’s ‘Ponzi’ scheme has sued more three dozen affiliates and executives of Fairfield Greenwich Group, a feeder fund which is accused of knowingly participating and profiting from the fraud
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Madoff trustee sues Fairfield executives
Wall Street Ends the Day Higher New York Times (blog) … and Exchange Commission to settle fraud accusations — financial stocks rallied and led a gain that extended to energy companies and materials producers … and more
Two involved in Indy mortgage fraud sentenced Indianapolis Star McKinney sentenced each to three years probation with six months home detention. He also ordered Ruhana to pay a $4000 fine. Both also are to work with the … and more
This interesting information was posted on a Canadian discussion board where the members were talking about United First Financial . As you saw here, some of the top people in UFF see that the company is going under , and are looking for a way to take this horrible software to a new company, and leave all the dead weight agents behind. Too bad users aren’t actually using the software anymore, according to the below. A little more info: There have been approximately 30,500 Money Merge Accounts sold. UFirst recorded the unique users who logged into their version 3 and version 4 MMA accounts from January through April of this year. Here are their findings: v3: Jan 953 Feb 896 Mar 891 Apr 787 v4: Jan 7534 Feb 7328 Mar 7401 Apr 6968 Though sales are slowly increasing by approximately 200 per month, logins are declining by about 188 per month. Assuming new clients at least login during their first month, that means approximately 400 people are abandoning the MMA, every month. In April, when UFirst had approximately 30,000 paid or paying MMA customers, there were only 7755 unique logins. That’s only 26% of their clients. There is one inescapable fact to extract from this: Almost 75% of MMA users have abandoned the product. Please don’t waste your $3,500 on this useless software .
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Ufirst Financial software users jumping ship
Wall Street Ends the Day Higher New York Times … and Exchange Commission to settle fraud accusations — financial stocks rallied and led a gain that extended to energy companies and materials producers …
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Wall Street Ends the Day Higher – New York Times
Al Franken May Have Won His Senate Seat Through Voter Fraud U.S. News & World Report (blog) As the Wall Street Journal's John Fund reports, Minnesota Democrat Al Franken's narrow, 312-vote victory in 2008 over incumbent Sen. … and more
MiamiHerald.com SEC chairman says more post-crisis cases in pipeline Reuters The SEC last week secured the record fine from a single Wall Street firm from Goldman Sachs over government charges that the banking titan committed fraud … SEC chief points to stepped-up enforcement The Associated Press SEC Chief Points To Revamped Agency CBS2 Chicago SEC Pursuing More Cases Tied to Financial Crisis New York Times (blog) IMarketnews.com
Medifast General Counsel Michael Tanczyn, Esq. at the deposition of Sam Antar. (click to enlarge) Earlier this year, Medifast (NYSE: MED) filed a $270 million lawsuit against Barry Minkow, me, and several other defendants for what it has alleged are false statements and a conspiracy to damage the stock price of the company. This lawsuit is nothing more than the typical big company suing a critic to shut her up. Medifast has far more resources than any of the defendants, and the company was hoping that by suing us, we’d shut up about the company’s multi-level marketing division Take Shape For Life (TSFL) . Because the lawsuit was filed in California, the defendants were immediately able to file anti-SLAPP motions . (SLAPP = Strategic Lawsuit Against Public Participation) Under the California law which authorizes this, the burden immediately falls on Medifast to prove that it has a probability of winning its case against us. This is where the Medifast case is supposed to get good. We say we’ve told the truth about the company and/or expressed our opinions as protected under the First Amendment. Medifast then has to prove that we lied about them and they can win their case against us. The whole point of the anti-SLAPP process is to stop big companies from abusing the legal system to get people to shut up. Big companies like Medifast sue people because they know the people can’t afford ongoing legal fees and will likely just stop talking about the company, even if the critics are right. The anti-SLAPP legislation is supposed to force Medifast to prove its case early on, saving the defendants legal fees if Medifast is filing a frivolous suit to harass and bankrupt the defendants. In this case, Medifast got a gift from the court. They are supposed to prove their case immediately. In this instance, they cannot prove their case , so they resorted to alternate tactics, and the judge is allowing it. Medifast has even been busy lying to the court , but hasn’t been held to account for this yet. What can’t Medifast prove? The defendants basically proved three key things after an analysis of Medifast’s SEC filings and other publicly available information: The growth of Medifast as a company is based almost solely on the multi-level marketing division TSFL (Take Shape For Life). TSFL is an endless chain recruiting scheme which relies on the continuous recruitment of new health coaches in order to stay alive Health coaches with TSFL make almost no money (but of course, you wouldn’t know that unless you went through Medifast’s misleading and confusing disclosures and were aware of how they have manipulated the numbers) All three of these things are absolutely true, and Medifast knows it. Therefore, they have no case against the defendants. The first report by the defendants about Medifast and TSFL was publicly released more than a year prior to this lawsuit being filed. In that year, Medifast never once pointed to a specific statement made by the defendants and explained or proved what was false about it. The closest they ever came was an allegation that defendant William Lobdell lied about Medifast insiders selling $6 million worth of stock in November and December 2009, which the company says is refuted by their SEC filings. According to Lobdell, however, the SEC filings completely support his assertion about insider sales of stock . But its no fun for Medifast to have to follow the law and argue the anti-SLAPP motions immediately. How can they punish and harass the defendants and cost them tens of thousands of dollars each in legal fees if they have no case? Instead of proceeding with the case as the anti-SLAPP legislation requires, Medifast claimed it needed to do discovery. Look at the above three points. If any of them are false, who has in their possession the data to show exactly that? Medifast, of course. T hey have the information to prove or disprove the above statements, but they don’t want to move to that part of the litigation because they lose there. Instead, Medifast asked the judge to allow them to do discovery. And the judge granted it. The judge granted “limited” discovery, but the process really isn’t limited at all . It’s as if the case is proceeding without the anti-SLAPP motions, because Medifast has been able to do every bit of discovery that it would do in the absence of anti-SLAPP motions. What does this mean? Medifast is making this as difficult, time consuming, burdensome, and costly as possible for all the defendants. They are intentionally causing each of us to incur tens of thousands of dollars of legal fees, in the hopes that we will be unable to do our real jobs or to afford the cost of continued litigation and settle with them. In my case, Medifast decided that producing the documents I had in my possession related to Medifast was not enough. They demanded a forensic analysis of my computer to try to recover deleted emails and documents that were deleted long before the lawsuit was filed. Nothing was deleted improperly, and Medifast knows this. Yet, they demanded this expensive and time-consuming process to be undertaken to place a great financial burden on me. They made silly demands that were aimed at increasing the cost and burden of this process, too. We ultimately had my computer looked at and produced whatever could be recovered, because we don’t want to give Medifast a chance to go in front of the judge and distract the judge from the real issue. The real issue is the three points above and whether they’re true or false. We don’t want Medifast to spend time arguing about discovery issues when we should get to the real issues that Medifast should have to argue. Yet Medifast is still delaying the process and trying to punish the defendants for daring to criticize the company. Medifast was given 90 days to conduct discovery, and now they want 30 more days. This is simply another delay tactic, designed to cost the defendants more time and more money. What has Medifast done in the last 90 days? They’ve done things like depose the ever-important Sam Antar. Yes, he is such a key to their case, that he’s not listed as a defendant. He’s merely a blogger who is friends with some of the defendants. He’s written about Medifast on his blog . And so Medifast has spent hours and hours harassing him. Wait! What about the defendants? Shouldn’t Medifast be worried about deposing them? Wasn’t that the whole point of this discovery process? I have heard not one peep about deposing me. Yep. Deposing Sam Antar is far more important. So important that now Medifast wants to extend discovery so that they can do depositions of the actual defendants. Again, let me remind you that the whole point of the anti-SLAPP motions is to stop the process. It is to protect the defendants so they aren’t incurring tens of thousands of dollars of legal fees and hours and hours of time related to a frivolous lawsuit. Yet nothing has stopped. Medifast is like Girls Gone Wild, demanding all sorts of documents and enlarging time frames and generally being a bully with the blessing of the judge. It’s easy to see what Medifast is doing. They’re delaying arguing the real issues because they will lose on the facts. And as a result, they’re also delaying having to provide any discovery themselves. They know what happens if they’re forced to turn over data and documents: it will be proven that the defendants told the truth. And we know that the longer Medifast goes without having to produce information themselves, the greater the chance that they are destroying and altering documentation. How willing do you think Medifast will be to take the every single computer of every single employee to a computer forensic firm and have them examined for deleted documentation? I doubt they’ll want to do that, but they expect the defendants to do it. The games need to stop. This litigation needs to proceed under the anti-SLAPP legislation in California. Enough games. Enough burden on the defendants. Someone (the judge, maybe?) needs to make Medifast prove its case the way the law intended them to prove it.
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Medifast is abusing the legal system to punish critics of Take Shape For Life
Goldman profit plunge knocks Wall Street Financial Times Some of the analysts didn't include the $550m cost of settling with the Securities and Exchange Commission over fraud allegations last week. … and more
MiamiHerald.com SEC chief points to stepped-up enforcement The Associated Press Her comments also are coming after the agency agreed to let Wall Street giant Goldman Sachs pay $550 million to settle civil fraud charges. … Excerpt:SEC's Schapiro Outlines Ways SEC To Improve Oversight IMarketnews.com all 335 news articles
TaxMasters target of state AG, customers Houston Chronicle While we do charge for the services we are hired to perform, let me categorically state that TaxMasters is not a scam . We are not a fraud. …
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TaxMasters target of state AG, customers – Houston Chronicle
CBC.ca Conrad Black gets bail CBC.ca … services fraud law affects the rest of Black's convictions. Wall Street securities lawyer Bill Singer told CBC News the decision came as no surprise. … and more
DOJ charges 94 with $251 million worth of Medicare fraud Mass Device … multi-agency Medicare Fraud Strike Force, known as the Health Care Fraud Prevention & Enforcement Action Team or “HEAT,” told the Wall Street Journal's … and more
Fannie Mae/Freddie Mac etc. cannot package these products for sale to investors and if they cannot sell, they will have no funds to buy more dubious mortgages from corrupt and fraudulent Wall Street banks. With no additional funds, …
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News Blog > British & American Scam Banking – HousePriceCrash.co.uk
Findtut Nerd riot averted Business Standard Wall Street summer: Wall Street can now officially start its summer. Goldman Sachs has settled with the Securities and Exchange Commission over fraud … Wall Street : Short measures Financial Times US FINANCE BILL LACKS POWER TO CURB WALL ST. Real News Network JPMorgan Tops Q2 Views As Credit Trends Improve and Goldman Will Settle SEC … Financial News USA (press release) Findtut
Scamraiders website documents, warns of fraud The Desert Sun … newspaper and radio commentator Walter Winchell, singer Frank Sinatra, Eddie Gilbert — once dubbed the “boy wonder” of Wall Street — and many others. … and more
Examiner.com Embedded with the South Bend Police Department: Understanding the victim of fraud Examiner.com One can only imagine their conversation on returning home . 20-40 people in a single day, falling for a story like these? Sending their hard-earned money to … and more
Avoiding Internet Job Scams OfficialWire (press release) In today's economy, service scam has become one of the best ever growing categories of fraud. One of the downside of work at home is that there are … Searching For Internet Job Scams OfficialWire (press release) Increasing Incidence Of Scams And Fraud OfficialWire (press release) Nigeria Dating Online Scams OfficialWire (press release) all 11 news articles
Reuters After Goldman Sachs settlement, SEC looking at exotic financial products Washington Post The Wall Street bank at first slammed the SEC and said it had done nothing wrong. Sources close to the case said that about a month after the SEC filed its … Weighing the Trade-Offs in the Goldman Settlement New York Times (blog) Goldman pays $550 mln to settle CDO suit with SEC MarketWatch Goldman's Grand Delusions Finally Hit Reality: Jonathan Weil BusinessWeek Newsweek
Central Florida News 13 News Wrap: Stocks Tumble on Consumer Sentiment, Earnings Numbers NewsHour Also, federal officials announced the largest-ever crackdown on Medicare fraud . HARI SREENIVASAN: The bears were back on Wall Street today. … Wall Street stocks tumble 2.2% on poor US bank results National Business Review US Stocks Slip; Mixed Economic Data Cuts Into Earnings Optimism Wall Street Journal Dow's winning streak falters after financial overhaul ABC Online all 445 news articles
Wall Street : The banks are still boss The Guardian Cut through all the fancy terminology and this was an old-fashioned fraud case, in which Wall Street's finest were charged with screwing over their own … and more
AIG is to pay $725m to a group of Ohio pension funds to settle a six-year-old class-action lawsuit over allegations of securities fraud
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AIG to pay $725m to settle lawsuit
AFP PRESS RELEASE: Cordray Secures Record Settlement with AIG Wall Street Journal Since taking office in January 2009, Attorney General Cordray has aggressively sought accountability of Wall Street institutions and executives who violated … AIG agrees to pay $725M in settlement Salon AIG will pay $1 billion to Ohio's pension funds, others Columbus Dispatch AIG to Pay $725 Million in Ohio Case New York Times all 320 news articles
Boston Globe 94 Indicted In Five-State Crackdown On Medicare Fraud Kaiser Health News … 7/16) The Wall Street Journal: “In Brooklyn, the government charged, among others, doctors Gustave Drivas and Jonathan Wahl and their partners. … Big Medicare fraud bust…BP: No sign of leaks…Stocks slide 9&10 News National Digest Annapolis Capital all 704 news articles
Searching For Internet Job Scams OfficialWire (press release) Many people are connecting day by day in internet job scams that are cheated by work at home job provider. Below are some tips how to identify internet job … Increasing Incidence Of Scams And Fraud OfficialWire (press release) all 6 news articles
Medicare Fraud Arrests Underway, Involving 94 Medical Professionals HULIQ With the help of new tools in the Affordable Care Act, including stiffer penalties and better information sharing, we will continue to work with our federal … and more
You tell me how that differs from what the US government is doing with Fannie and Freddie. Sure, there’s one main difference with Lehman and Bank of America: the scale of creative accounting/fraud. $4.4 trillion is real money. … Is that truly in the best interest of the citizens of the country, or does it in truth only scam those citizens ever more for the benefit of an elite that isn’t even clever enough to not lose bigtime at the nation’s crap tables? …
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Economics – July 16 | Energy Bulletin
Stocks on Wall Street stumble, seven-day rally ends National Business Review … and Senate passed new sweeping banking regulation laws, and US authorities settled the Goldman Sachs fraud case after it made a $US550 million payment. … and more
Common scams still defraud the unwary Regional News Work at home scams : Newspaper or other ads claiming that you can earn money at home . Just send them money. Bait and switch scams : You cannot find the …
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Common scams still defraud the unwary – Regional News
Bobsguide (press release) Goldman, SEC have discussed broad settlement -WSJ Reuters … to simultaneously resolve the fraud lawsuit against Goldman and some of the agency's probes of Goldman's mortgage department, the Wall Street Journal … Goldman Sachs (GS), SEC Settlement Talks Heat Up StreetInsider.com (subscription) Goldman, SEC Have Spoken On Possible Settlement: WSJ Stock Markets Review Good a$ goldman New York Post New York Times (blog)