Financial Fraud Law

Recent Posts

The Quintessential Tax Fraud
Posted on 9 Aug 2013 by Steven A. Meyerowitz

A California businessman, Gary Mach, has pleaded guilty to conspiracy to defraud the Internal Revenue Service in a scheme that undoubtedly will be known as the Quintessential Tax Fraud. Mach, who operated Crystal Springs Pool Service (CSPS), admitted... Read More

ABA Sues FTC Over Red Flags Rule’s Application To Lawyers
Posted on 28 Aug 2009 by Steven A. Meyerowitz

We mentioned that it might happen ( see ) and it did: the American Bar Association has brought suit against the Federal Trade Commission... Read More

Spitzer Admits He ‘Failed Big Time,’ But Says He Wants Another Shot at Wall Street
Posted on 23 Jul 2013 by Steven A. Meyerowitz

Do New Yorkers hate Wall Street enough to forgive a disgraced politician who frequented prostitutes, and who was an incompetent governor of New York to boot? That’s the question that arises from Eliot Spitzer’s new ad, in which he acknowledges... Read More

‘Money Mules’ Key To International Scheme Stealing From Credit And Debit Cards, FTC Alleges
Posted on 28 Jun 2010 by Steven A. Meyerowitz

More than one million consumers have been hit with one time charges of $10 or less, and their payments were routed through dummy corporations in the United States to bank accounts in Eastern Europe and Central Asia, according a complaint filed in federal... Read More

Bank of America and Wells Fargo ‘Repeatedly’ Violated National Mortgage Settlement, New York Alleges
Posted on 6 May 2013 by Steven A. Meyerowitz

Attorney General Schneiderman intends to sue Bank of America and Wells Fargo because, he says, they “repeatedly” violated the terms of the National Mortgage Settlement. According to Schneiderman’s office, since October 2012, there have... Read More

Breaking News: Marc Dreier Sentenced To 20 Years And Ordered To Pay $387.7 million In Restitution
Posted on 13 Jul 2009 by Steven A. Meyerowitz

Federal District Court Judge Jed Rakoff today sentenced disgraced attorney Marc Dreier to 20 years in prison – substantially less than the 145 years sought by the prosecutors – and ordered him to pay $387.7 million in restitution. The court’s... Read More

SEC's New Division of Risk, Strategy, and Financial Innovation Adds Three to Senior Ranks
Posted on 5 Nov 2009 by Steven A. Meyerowitz

The Securities and Exchange Commission today announced three senior appointments at its newly-established Division of Risk, Strategy, and Financial Innovation. The Division was created in September to enhance the agency's capabilities and help identify... Read More

What’s The Next Housing Bailout?
Posted on 1 Dec 2011 by Steven A. Meyerowitz

Leveraged bets as high as 30 to 1 on risky investments with little equity cushion against potential losses are what helped bring down the likes of Lehman Brothers, Bear Stearns, Fannie Mae and Freddie Mac. Think it can't happen again? According to... Read More

Should Congress Block State Regulation of Payday Lenders?
Posted on 8 Oct 2012 by Steven A. Meyerowitz

In a joint letter to Congress, 41 state attorneys general are urging Congress to reject H.R. 6139, the Consumer Credit Access, Innovation and Modernization Act, contending that the bill would “eliminate crucial protections for consumers” and... Read More

Bankruptcy Fraud Alleged Involving Winning Lottery Tickets
Posted on 15 Jul 2010 by Steven A. Meyerowitz

A ticket and a dream? Maybe, but the lottery also can lead to trouble. Consider the allegations that have just been filed against Massachusetts resident James Gregson. According to the government, in 2002, Gregson purchased a $1 million winning lottery... Read More

That Japanese Consulate Check You Have May Be A Fake
Posted on 8 Aug 2011 by Steven A. Meyerowitz

The Detroit Division of the Federal Bureau of Investigation says it has been informed of a new check scam that has affected multiple individuals across the United States. The scam involves a check that looks like it was issued by the Consulate General... Read More

Protesting with Fake Oil and Gas Bids Leads to Prison
Posted on 18 Sep 2012 by Steven A. Meyerowitz

Under federal law, the Bureau of Land Management (BLM) in each state with eligible lands is required to auction off oil and gas leases on a quarterly basis. At these auctions, the minimum bid is two dollars per acre, but the amount of the winning bid... Read More

Odometer Tampering Sends Used Car Dealer To Federal Prison
Posted on 8 Oct 2010 by Steven A. Meyerowitz

We know it’s wrong and in fact we know it’s illegal. But we didn’t know that odometer tampering can lead to federal prison. Well, that’s what Jay Lee (aka Michael Smith; John Marks; Ricky Marks; and Anthony Romero) has just learned... Read More

HOPE Fraud Alleged
Posted on 9 Aug 2011 by Steven A. Meyerowitz

Four Florida men have been arrested on charges that they defrauded homeowners in Massachusetts and elsewhere in connection with a home loan modification scam. The 20 count indictment charges Christopher S. Godfrey, Dennis Fischer, Vernell Burris Jr.,... Read More

Come On! Releasing The Exhibits To The Madoff Report Late Friday On The Day Before Halloween?
Posted on 30 Oct 2009 by Steven A. Meyerowitz

The SEC might have hoped that a late Friday release of the backup to the scathing report about its failure to discover the Madoff Ponzi scheme would have been able to pass without comment – but that’s not going to happen. See them here, http... Read More