Bank - Page 10

  • TD Bank VP Conviction Opens Door to Ponzi Scheme Victims

    … TD Bank VP Conviction Opens Door to Ponzi Scheme Victims February 5, 2016 by Brian Mahany Last fall, former TD Bank regional vice president Frank Spinosa pleaded guilty to federal wire fraud charges in connection with a scheme to aid and abet a billion dollar Ponzi scheme. In December he was sentenced to 30 months in prison and must surrender…

    Due Diligence- 25 readers -
  • Comptroller of Currency ’16 Whistleblower Opportunities

    … The Office of the Comptroller of the Currency (“OCC”) and its Committee on Bank Supervision have published their 2016 operating plan. That document is a road map to the agency’s enforcement priorities this year. Many of those priorities offer big whistleblower opportunities. The Financial Institutions Reform, Recovery and Enforcement Act…

    Due Diligence- 21 readers -
  • Bank Board Misconduct Can Pay Whistleblower Dividends

    … Typically, when senior bank officials or board members act in their own self interest, shareholders have a right to file a lawsuit for the harm caused to the bank. These suits are called derivative actions. By enriching themselves, these folks hurt the bank and thus the shareholders who own the bank. Bank officers and board members have…

    Due Diligence- 22 readers -
  • Two Respected Law Firms Fight Claims That They Aided Ponzi Schemer

    …. Fraudsters often are uncollectible, especially when serving 110-year prison terms. Often, however, banks and lawyers can be held responsible for monies lost by investors; especially when their actions (or inactions) helped facilitate the crime. Seeking third party recovery is especially important in the Stanford case. The court’s receiver charged…

    Due Diligence- 20 readers -
  • Bank of America Threw a Party and No One Came

    … Hat tip to American Banker magazine that ran an article yesterday title “Bank of America Just Threw an Earnings Party, But Nobody Came.” Earlier this week, America’s second largest “too big to care” bank announced more great earnings results. The bank has now posted four consecutive quarters of higher profits than the prior year. No one…

    Due Diligence- 22 readers -
  • Will my estate have to “go through” probate when I die?

    … simple. The only property that must “go through” probate is property which was titled solely in the deceased person’s name at the time of his or her death. This means that jointly held property will “bypass” probate altogether. Thus, things such as bank accounts, real estate (see below for one notable exception), investments and automobiles which…

    Jeremy Howe/ The Law Office of Jeremy Howe- 10 readers -
  • Wells Fargo Considers Changes in Its Profit Formula Division

    … the division to a more favorable position in the bank. Many also believe the Profit Formula division is very attractive to advisors who would be better off even if operating below the $2 million quota. The recruiting benefits alone could lead Wells Fargo to make some changes in 2016. The attorneys of Eccleston Law LLC represent investors…

    Eccleston Law Offices- 20 readers -
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