Blog
UnBelievable Sham
Apparently UBS employees weren’t thinking rationally when they helped U.S. clients hide accounts from the IRS using Swiss bank accounts. And now UBS will pay the consequences as they are required to release the names of 4,450 American account holders who could be...
New York State of Money
New York politician Raymond Harding pleaded guilty to accepting $800,000 from investment companies involved with his organization’s pension fund. The money was in return for political favors. Mr. Harding could use a favor himself right about now. Check out the...
It All Started with Mortgages
Montana businessmen Keith Kovick and Robert Congdon once had a successful (and legitimate) mortgage brokerage operation. But when they ventured into the investment arena without being registered to sell securities in the state, things started to fall apart. $14...
Madoff’s Questionable Compliance
Come to find out, Bernard Madoff’s brother functioned as the Ponzi afficianado’s compliance officer at his investment company. Um, yeah. Isn’t that some sort of oxymoron? That’s what court-appointed trustee Irving Picard is asking. He’s suing Madoff’s brother, two...
Beware Ponzis at Every Turn
Seems as though Ponzi artists would slow down operations in this post-Madoff era. But as USA Today explains, the shifty crooks and their schemes continue to flourish. Read this article and head this advice: be wary....
Fraud Stranger than Fiction
One of Fleecing Central's most notorious, Marc Dreier is currently serving a 20-year prison sentence for stealing $380 million from hedge funds. Despite his less-than-prestigious new address, Vanity Fair revisits the former hot shot ligigator's fall from...
Broker Perks at Clients’ Expense
Isn’t it customary for the broker to pick up the tab? In this case, the broker supposedly left his mortgage payment and travel expenses to his clients – to the tune of $350,000. Shane Selewach of Massachusetts claims he’s not guilty, merely having invested the funds...
Bank Fraud of Grand Proportions
Fudging the books costs former Le-Nature CEO. Not only is Gregory Podlucky indicted and losing his job, he has also been forced to hand over millions of dollars worth of jewelry, $7 million in bank accounts, and a model train set worth $1 million. Apparently Mr....