Financial Fraud Law

Recent Posts

Court Orders MF Global to Pay over $1 Billion in Restitution to Its Customers
Posted on 19 Nov 2013 by Steven A. Meyerowitz

A federal court has entered an order on consent against MF Global Inc. requiring it to pay $1.212 billion in restitution to customers of MF Global to ensure that the customers recover their losses sustained when MF Global failed in 2011. The order... Read More

Tax Season Nears, Tax Scams Abound
Posted on 28 Jan 2014 by Steven A. Meyerowitz

With the start of the 2014 tax season approaching on January 31, it is worth keeping in mind that tax-related scams using the IRS name proliferate during this time of year. Tax scams can take many forms, with perpetrators posing as the IRS in everything... Read More

The SEC’s Agenda for This Year? Here It Is…
Posted on 10 Jan 2014 by Steven A. Meyerowitz

The Securities and Exchange Commission has just announced its examination priorities for 2014, which cover a wide range of issues at financial institutions, including investment advisers and investment companies, broker-dealers, clearing agencies, exchanges... Read More

Trustee’s and Lawyers’ Fees Top $800 Million in Madoff Case – So Far
Posted on 9 Dec 2013 by Steven A. Meyerowitz

The outsized breadth and scope of the Madoff Ponzi scheme has required an outsized effort to investigate it and to respond to it, and that has required attorneys – a lot of them, spending a lot of time, over the past five years. The law firm... Read More

Litigation against the Madoff Family: Where Is It Today?
Posted on 9 Dec 2013 by Steven A. Meyerowitz

Of all the lawsuits brought against people allegedly involved in the Madoff Ponzi scheme, perhaps none are of as much interest as the actions involving Madoff family members. The most recent request for fees filed by Baker & Hostetler (B&H) explains... Read More

Company Settles Charges that It Targeted Union Members with False Credit Offers
Posted on 11 Feb 2014 by Steven A. Meyerowitz

Union Workers Credit Services, Inc. (UWCS), and its president, Joe Malazzo, have settled charges that they targeted union members with false credit offers. Under the settlement, the company is permanently banned from offering credit or financial services... Read More

Wealthy Americans Cheated the IRS with Credit Suisse's Help, Senate Tax Evasion Report Says
Posted on 26 Feb 2014 by Steven A. Meyerowitz

A bipartisan staff report entitled, “Offshore Tax Evasion: The Effort to Collect Unpaid Taxes on Billions in Hidden Offshore Accounts,” issued by the U.S. Senate’s Permanent Subcommittee on Investigations has found that, for years, Credit... Read More

Three ‘Sham Charities’ – for Victims of Domestic Violence, the Hungry, and Breast Cancer Research – Are Shut Down in NY
Posted on 4 Feb 2014 by Steven A. Meyerowitz

New York prosecutors have reached a $500,000 settlement that includes permanently shuttering three Long Island-based charities: the Bi-County Helpline for Abuse Against Women and Children; Long Island Responds; and Breast Cancer Funds for Research. The... Read More

‘Shared Appreciation’ Mortgage Modifications for Underwater Homeowners On the Horizon in New York
Posted on 11 Dec 2013 by Steven A. Meyerowitz

The New York Department of Financial Services (DFS) is proposing to expand the mortgage relief options available to “underwater” homeowners, who owe more than the current market value of their homes. The DFS’ proposed regulations would... Read More

3 Former Barclays Bankers Charged with LIBOR Manipulation
Posted on 18 Feb 2014 by Steven A. Meyerowitz

The United Kingdom’s Serious Fraud Office has brought charges against three former employees at Barclays Bank Plc, Peter Charles Johnson, Jonathan James Mathew, and Stylianos Contogoulas, in connection with its investigation into the manipulation... Read More

Disbarred Lawyer to Prison for Stealing Over $4.3 Million from Clients
Posted on 28 Jan 2014 by Steven A. Meyerowitz

A disbarred attorney has been sentenced to 3-1/3 to 10 years in prison for stealing more than $4 million from several individuals and banks in a series of fraudulent real estate deals that fattened his wallet at the expense of his clients – including... Read More

European Parliament Votes to Toughen Anti-Money Laundering Rules
Posted on 12 Mar 2014 by Steven A. Meyerowitz

The ultimate owners of companies and trusts would have to be listed in public registers in EU countries under draft anti-money laundering rules voted by the European Parliament. “The public registers will make life more difficult for criminals... Read More

Final Four in Financial Fraud Law’s Top 10 of the Year Is Coming Next Week!
Posted on 27 Dec 2013 by Steven A. Meyerowitz

The Financial Fraud Law Blog Top 10 countdown is nearing conclusion. You already have seen our picks for #10 down through #5, which we summarize below. Stay tuned for the final four picks, coming right after the New Year! We wish all of the readers... Read More

The Rise of the States: #4 in Financial Fraud Law’s Top 10
Posted on 2 Jan 2014 by Steven A. Meyerowitz

When it comes to financial fraud law, a great deal of interest typically is focused on what the federal government does. But the Financial Fraud Law Blog and the authors of articles in the Financial Fraud Law Report also recognize the importance of state... Read More

New Jersey Mayors and Corruption: The Answers to the Financial Fraud Law Quiz
Posted on 10 Feb 2014 by Steven A. Meyerowitz

Earlier today, in our Financial Fraud Law Quiz, we asked you to identify the communities in New Jersey that have had mayors convicted or have had mayors who have pleaded guilty in corruption cases. We limited it to this century, and we started you off... Read More