Bernie Madoff

Madoff ponzi scheme victims to recover more

April 12, 2018

$504 million more to victims of Madoff ponzi scheme. Madoff ponzi scheme victims are to receive another $504 million from assets that government seized after the collapse of one of the largest frauds in history. Payments to victims could reach $4 billion. Much of these funds were recovered from Madoff’s family and friends, Madoff’s bank J.P. Morgan Chase, and from wealthy investors who had cashed out billions of what turned out to be fictitious profits.

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Martin Shkreli

Martin Shkreli investor to recover losses

April 11, 2018

Shkreli investor to recover losses. A NJ federal court ordered convicted fraudster Martin Shkreli to pay one defrauded hedge fund investor about $388,000 in restitution. 

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digital coins

How did the Equifax hack happen?

February 9, 2018

The SciShow guys have a nice video explaining how the Equifax hack happened. Equifax is in the business of collecting, storing, and disseminating sensitive consumer information — like credit card numbers, social security numbers, and bank account numbers. You don’t voluntarily give Equifax your sensitive data — Equifax gets that data whether you want it to or not.

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anguished woman at computer

Membership does not always have its privileges – holiday consumer alert

November 21, 2017

Holiday consumer alert – watch out for those VIP membership clubs — the ones that automatically charge monthly fees to your credit card. Those membership clubs may not live up to their promises and can make it hard to cancel membership.

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Was Robert Rubin involved in Citi’s Oct 2008 false statements?

November 10, 2017

What was Robert Rubin’s role in false statements about losses made by Citigroup in an October 2008 analyst call? At the time, Robert Rubin was Chairman of Citi’s Executive Committee. Neither he nor any board member was named in the SEC case arising out of those statements, for which Citigroup paid a $75 million civil settlement. But Rubin and other board members had been informed of losses far exceeding the amount of losses disclosed in the analyst call weeks before the call.

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Wells Fargo stagecoach

Wells Fargo Directors and Execs one step closer to accountability

November 5, 2017

Too often corporate directors and officers evade efforts to hold them accountable. A San Francisco federal court has brought Wells Fargo directors and officers one step closer to being held accountable for the rampant wrongdoing at the bank.

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prisoner hands holding bars

Initial coin offering fraud charged in NYC

November 2, 2017

Brooklyn resident Maxim Zaslavskiy was arrested and charged with securities fraud in connection with two initial coin offerings called RECoin and Diamond Reserve Club.

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house in field

What to do if hackers steal your closing payment

November 1, 2017

One of the fastest growing cyberfrauds is the closing payment scam — the theft of home purchase money wired for closings. How does this scam work? How can you protect yourself? How can you recover losses if you are a victim of this scam?

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Sleeping dog

I’ve got a bad feeling about FINRA

September 29, 2017

FINRA Is Doing A Whole Lot Less FINRAing These Days Even before this year, FINRA’s FINRAing was not effective. I have seen FINRA Enforcement do nothing in egregious cases where a firm’s Financial Advisor lied to an investor or created firm documentation that was a false — like documenting annual meetings with a customer that could not have happened. I have seen FINRA do nothing about blatant misconduct of FINRA members in arbitration proceedings. When FINRA does get involved, FINRA’s FINRAing can impede investors efforts to recover losses.

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mother rhino and baby

Insider traders who must love their mothers

September 27, 2017

Must be embarrassing for Zacks Investment Research to learn that not one, not two, but three of its employees were trading on illegal inside information for years! According to the SEC’s complaint — see link below — the three are Jason Napodano, Bilal Basrai, and Bryce Stirton. Two of the three were managers of Zacks divisions.

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