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Bill Singer

Blog Entries by Bill Singer

The FBI Issues Holiday Warning About Smishing, Vishing and Other Scams by Cyber-Criminals

Posted November 28, 2010 | 11:33:47 (EST)

It's not just the holiday season for shoppers -- cyber-criminals look forward to this period of increased retail activity as a way to steal our money and personal information. This new wave of fraud is no longer simply targeting your somewhat antiquated desktop computer or even your laptop, but the...

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A Guilty Plea and Conviction End an ATM Scam

Posted November 23, 2010 | 13:50:41 (EST)

On October 19, 2010, The Huffington Post reported on the federal criminal prosecutions of Vance Moore II and Walter Netschi arising from allegations of their fraudulent sales of investments in Automated Teller Machines ("ATMs"). As reported in that earlier story, from 2005 to January 2008, Vance Moore II...

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Danger: Legal Sharks Circle Online Posters

Posted November 2, 2010 | 16:57:37 (EST)

For some reason, a lot of folks post all sorts of online information about themselves, their concerns about getting sued, and their ongoing lawsuits -- you name it, you can find it online. Sometimes the information is likely posted in a manner that will maintain the anonymity of the poster....

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Manicurist Hit With Corruption Charges -- Know What I'm Sayin'?

Posted October 29, 2010 | 11:10:31 (EST)

You ever wonder where so many popular but annoying sayings come from? How do these things even get started? You know? So, like, you know, just sayin', okay, okay, okay?

In any event, at the end of the day-- here's a fairly simple blog entry, which, just sayin', sort...

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ATM Investment Scheme Guilty Plea

Posted October 19, 2010 | 16:43:40 (EST)

From 2005 to January 2008, Vance Moore II and Walter Netschi solicited over $80 million worth of investments in Automated Teller Machines ("ATMs") purportedly placed in various retail locations around the country, including convenience stores, gas stations, malls, and hotels. Moore and Netschi claimed that the ATMs would generate revenue...

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Two Con Artists Sentenced in Federal Reserve Note Investment Plan Scam

Posted October 5, 2010 | 15:34:10 (EST)

Beginning in 2005, Robert Ingram held himself out as the director of an investment program that would enable investors to share in the proceeds of an alleged $23 billion "note" underwritten by the Federal Reserve. My, you say, that sounds impressive -- you know, the Federal Reserve is a pretty...

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Insider Trading: Frequent Flyers, Potatoes and Macy's

Posted September 29, 2010 | 19:10:21 (EST)

On March 25, 2010, published a detailed analysis of Securities and Exchange Commission v. Igor Poteroba, Aleksey Koval and Alexander Vorobiev (SDNY March 24, 2010), available here, which alleged that Defendant Igor Poteroba, a high-ranking investment banker in UBS...

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Caught in the Spider's Web: Online Financial Identity Theft

Posted September 22, 2010 | 15:13:40 (EST)

Personal information may be stolen through a variety of means. Among the more common examples are:

  • Hacking into financial institutions' computer systems
  • Phishing attacks, a fraudulent email or Instant Message that directs the recipient to enter sensitive information onto an apparently trustworthy website. In fact, that website is masquerading...
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Yo, Congress, Keep on Truckin' -- Can You Dig It?

Posted September 14, 2010 | 14:39:35 (EST)

There is an obligation upon those drafting laws and regulations to do so with sufficient clarity so as to convey what precise conduct is proscribed or prohibited. Failing to discharge that task with clarity builds speed-traps that catch the unwary and burden our judicial system. Recently, Congress has churned out...

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Fired Analyst Loses Multi-Million Dollar Arbitration Against Former Employer

Posted September 8, 2010 | 17:19:26 (EST)

Rodman & Renshaw and other Claimants filed a FINRA Arbitration Statement of Claim (initially in October 2006 and thereafter as amended) against Respondent Matthew N. Murray. Among other claims, Claimants alleged defamation, tortious interference with business relations, breach of fiduciary duty, conversion, breach of contract, and prima facie tort, trademark...

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Examining the Defense of Family Values and Unequal Pay for Women

Posted August 30, 2010 | 14:59:34 (EST)

In the 1950s when women were still second-rate members of the American workforce -- when they were not earning equal pay for a day's work and the opportunities for advancement were still limited, a popular explanation for tolerating such discrimination was that women belonged at home raising families, that men...

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The Big Oops! Morgan Stanley's Research Failures

Posted August 11, 2010 | 16:07:28 (EST)

In a Press Release titled: FINRA Fines Morgan Stanley $800,000 for Deficient Conflict of Interest Disclosures in Equity Research Reports and Public Appearances by Research Analysts Firm Also Violated 2003 Research Analyst Settlement at, the Financial Industry Regulatory Authority (FINRA), Wall Street's largest self-regulatory organization, announced on...

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The $600 Million Teddy Bear Case

Posted August 2, 2010 | 16:39:56 (EST)

Way back in February 2009, detailed the story about the The $600 Million Teddy Bear: WG Trading.

On February 25, 2009, the Securities and Exchange Commission issued a 22-page Complaint: Securities and Exchange Commission v. WG Trading Investors, L.P., WG Trading Company, Limited Partnership, Westridge...

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One Investing Idea: Issue Phony Online Press Releases and Tout Them

Posted July 30, 2010 | 12:50:46 (EST)

In a Complaint dated October 22, 2009, the United States Securities and Exchange Commission (SEC) alleged that from September 29, 2009, through October 2, 2009, Lambros D. Ballas engaged in a fraudulent scheme to manipulate the stock price of multiple publicly traded companies (including Google, Microsoft, and Walt Disney) by...

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Mistake: Why Goldman Sachs Channels Richard Nixon and Watergate

Posted July 26, 2010 | 15:45:11 (EST)

You remember the big to-do about Goldman Sachs and how the United States Securities and Exchange Commission brought a so-called landmark fraud case against the mighty Wall Street firm? If you followed the legal soap opera, you were entertained with congressional hearings, thrilled by the lurid stories and dazzled by...

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Daniel Dravot, Goldman Sachs, and the SEC

Posted July 20, 2010 | 15:30:14 (EST)

In Rudyard Kipling's novel The Man Who Would Be King, we are introduced to Daniel Dravot and Peachey Carnehan, perhaps best described as 19th Century con men and adventurers who managed to become Kings of the Kafirs. At one point, Dravot managed to convince his followers that he was a...

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Wall Street Reform: $5 Worth of No Substitutions

Posted July 14, 2010 | 12:30:57 (EST)


My wife and I were having lunch at a local diner and saw the above sign on the wall at the end of our table. She read it. I read it. She laughed. I laughed. Given that we're both lawyers, we wound...

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Moffat's Sex. Nietzsche's Memory.

Posted July 12, 2010 | 13:05:25 (EST)

It used to be sex, drugs, and rock 'n roll -- now it's sex, drugs, rock 'n roll, politics and Wall Street. For some reason, a lot of folks just get hung up about that sex thing. For example, consider the recent revelations about Robert Moffat, Jr., the former IBM...

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Modern-Day Regulation: The Big Broom After the Circus Parade Passes

Posted July 2, 2010 | 15:05:48 (EST)

I watched with disgust the ravages of Hurricane Katrina. A city and region were devastated first by a storm and then victimized by a lack of preparation and response. Those in charge of the emergency response seemed little more than political hacks and friends of friends in high places. Clearly,...

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The Supreme Court's PCAOB Ruling and Wall Street's Self-Regulation

Posted June 29, 2010 | 13:01:33 (EST)

The Public Company Accounting Oversight Board (PCAOB) was created as part of a series of accounting reforms in the Sarbanes-Oxley Act of 2002. PCAOB is composed of five members appointed by the Securities and Exchange Commission (SEC). It was modeled on private self-regulatory organizations (SRO's) in the securities industry --...

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