Bank - Page 5

  • Platinum Partners Hedge Fund Ponzi – Where Are the Banks?

    … are charged with securities fraud, investment adviser fraud, securities fraud conspiracy, investment adviser fraud conspiracy and wire fraud conspiracy. They say the defendants defrauded investors through the overvaluation of the fund’s assets, the concealment of severe cash flow problems at Platinum’s signature fund, and the preferential payment…

    Due Diligence- 9 readers -
  • Does Universal Health Services Kidnap Patients?

    …, the bank initially blamed its front line employees. Suddenly, over 500 tellers, branch managers and relationship managers were terminated. Instead of accepting responsibility, senior management tried to blame the workers. While we don’t believe that former Wells Fargo CEO John Stumpf ordered thousands of workers to commit crimes, he created…

    Due Diligence- 12 readers -
  • Cyberhacking Update – IBM Says Banks Won’t Discuss Details

    … to historical data. And that is the one thing lacking in the banking industry. Banks don’t want customers to know about cyberhacking incidents. If customers learned that a particular bank was hacked, customers might suddenly leave the bank and take their money with them. Banks also don’t want regulators to know. The Office of the Comptroller…

    Due Diligence- 10 readers -
  • Think Glink

    … Home Mortgage, and is the author of Saints, Sinners & Heroes: Covert Ops in the War against the C-Suite Mafia. He was also the attorney for two of the whistleblowers in the 2014 Bank of America “hustle” mortgage case, which resulted in a highly-publicized $16.65 billion settlement later reduced on appeal. Here, Mahany talks about the Allied…

    Due Diligence- 35 readers -
  • Wells Fargo Hits a New Low (Bank Whistleblower Post)

    … the permission of their customers was over the top, wait to you read their newest shameful behavior. But first, let’s look at some of their other recent low points. November 2009 Wells Fargo agrees to buy back $1.9 billion in securities after being accused by the California Attorney General of defrauding investors. March 2010 The bank agreed…

    Due Diligence- 36 readers -
  • Ex-Wells Fargo Adviser Receives 2-Year Suspension

    … Ex-Wells Fargo Adviser Receives 2-Year Suspension Posted on Friday, December 9, 2016 at 10:28 AM From the Desk of Jim Eccleston at Eccleston Law LLC: FINRA has charged a former Wells Fargo adviser named Jack Donnarumma from White Plains, New York, with allegedly misrepresenting himself as a Wells Fargo personal banker and bank officer when…

    Eccleston Law Offices- 18 readers -
  • Allied and Jim Hodge… What Next?

    … the company was shut down by HUD, Allied lost much of its borrowing capacity. Like most banks and lenders today, Allied makes it money when it sells a loan. Their profit is the commission they earn when the loan is made and underwritten. Since they are not a bank, they borrow money to reloan it. As Allied’s creditors stopped the flow of capital…

    Due Diligence- 13 readers -
  • Many Bankers Eligible for Overtime Pay (FLSA Post)

    … one’s title. This is especially true in banks where many people in banks are labeled as “assistant vice presidents.” JPMorgan Chase Overtime Pay Case To better understand the issue, we need only go back to the 2014 overtime case involving JPMorgan Chase business bankers. Kevin Royer, Kris Henry and Mikhail Lerman were all business bankers working…

    Due Diligence- 13 readers -
  • Embezzlement: Texas Laws, Definitions, and Defenses

    … in state jail A fine of up to $10,000 Theft of $20,000 to $99,999 is a third degree felony, punishable by: Up to 10 years in state prison A fine of up to $10,000 Theft of $100,000 to $199,999 is a second degree felony, punishable by: Two to 20 years in state prison A fine of up to $10,000 Theft of $200,000 or more is a first degree felony is punishable…

    Matthew Sharp/ The Law Office of Matthew D. Sharp- 26 readers -
  • Who is Mullooly, Jeffrey, Rooney & Flynn?

    …. Mullooly, Jeffrey, Rooney & Flynn is located at 6851 Jericho Turnpike, Suite 220, P.O. Box 9036, Syosset, NY 11791. Mullooly, Jeffrey, Rooney & Flynn, LLP represents junk debt buyers including Unifund CCR, LLC and Cavalry Portfolio Services as well as banks including Capital One Bank, and Bank of America. Law-firm debt collectors like Mullooly…

    The Law Offices of Robert J Nahoum- 26 readers -
  • Lincoln Financial Unit Fined for Cybersecurity Breach

    …-based computer server. The stored records included account applications and other brokerage records containing customers’ nonpublic personal information such as social security numbers. Lincoln Financial, however, failed to ensure that its third-party vendor properly installed antivirus software or data encryption for the stored documents…

    Due Diligence- 26 readers -
  • Tesco Bank Cyberhacking State Sponsored? FIRREA Post

    … Tesco Bank is a well known UK bank. Created with the help of the Royal Bank of Scotland, Tesco today enjoys 7 million customer accounts. Confidence in the bank was badly shaken this week when the bank announced that thousands of accounts were the victim of a cyberhacking attack. New evidence now suggests that the incident may have been state…

    Due Diligence- 17 readers -
  • Bank of America Accused of Gouging Ex Inmates – FIRREA SEC Post

    … There are both evil people in this world and ordinary people who make mistakes. Sometimes those people go to jail. Over 99% of those incarcerated are ultimately released. And in Arizona, when they are released they get whatever cash they had at the time of their arrest, commissary money and prison earnings in the form of a Bank of America debit…

    Due Diligence- 13 readers -
  • “My Family Thinks I’m a Fraud for Working at Wells” – FIRREA Post

    … There was an article yesterday in CNN Money titled “Inside Wells Fargo, Workers Say the Mood is Grim.” Thats where I found the title quote above. For years, the “too big to fail” banks have been “too big to touch”. Finally, the tide is turning. Unfortunately, for many homeowners and customers of Wells Fargo, Chase, Citi, Ocwen and Bank of America…

    Due Diligence- 13 readers -
Get the top posts daily into your mailbox!