Financial Fraud

10 Reasons to Be Suspicious About Wall Street's Facebook Fiasco

Richard (RJ) Eskow | Posted 05.23.2012

Read More: Financial Fraud, Meg Whitman, Mark Zuckerberg, JPMorgan Chase, Goldman Sachs, Jamie Dimon, Morgan Stanley, Facebook, Facebook IPO, Facebook Stock Price, Facebook Stock, Business News
Richard (RJ) Eskow

Here are ten reasons why it makes sense to be suspicious of the Facebook IPO, starting with the fact that any overview of the three institutions which handled it might best be described as "rounding up the usual suspects."

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How Financial Criminalization Crashed Economy, Goes Unpunished

Charles Ferguson | Posted 05.23.2012

Read More: Corruption, Financial Fraud, JPMorgan Chase, Goldman Sachs, JP Morgan, White Collar Crime, Wall Street, Finance, Wall Street Crimes, Financial Crisis, Mortgage-Backed Securities, Securities Fraud, Wall Street Corruption, Business News
Charles Ferguson

It is no exaggeration to say that since the 1980s, much of the financial sector has become criminalized, creating an industry culture that tolerates or even encourages systematic fraud.

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Zach Carter

Progressive Rep. Compares GOP To Keating Five

HuffingtonPost.com | Zach Carter | Posted 04.27.2012

Read More: Residential Mortgage Backed Securities Working Group, Rep. Brad Miller, Economy, Jobs, Mchenry, Obama, Foreclosure Fraud, Financial Fraud, Video, Wall Street, Banks, Gop, Rep. Patrick McHenry, Schneiderman, Republicans, Brad Miller, Politics News

WASHINGTON -- Rep. Brad Miller (D-N.C.) blasted congressional Republicans on Thursday, including fellow North Carolinian Rep. Patrick McHenry, compari...

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ReThink Review: Unraveled -- the Bernie Madoff Documentary We Never Got

Jonathan Kim | Posted 04.17.2012

Read More: Financial Fraud, Fraud, Movie Review, Jonathan Kim, Wall Street, Marc Dreier, Ponzi Scheme, Rethink Reviews, Documentary, Unraveled, Bernie Madoff, Video, Entertainment News
Jonathan Kim

Marc Dreier may be the biggest Wall Street criminal you've never heard of, but he'd respectfully disagree.

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Ex-Wall St. Trader Imprisoned For Threatening To 'Kill' Top Regulator

Posted 04.10.2012

Read More: Financial Fraud, Vincent McCrudden Sentenced, Video, Financial Regulators, Mary Schapiro, Business News, Financial Crimes, Vincent-Mccrudden, Gary Gensler, Financial Regulation, Business News

You might think that being a top financial regulator is a dry job, or that it’s never dangerous. You might then be wrong. Vincent McCrudden,...

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President Obama Needs to Get Serious About the Financial Crimes Unit

Becky Bond | Posted 04.09.2012

Read More: Foreclosures, Mortgage Crisis, Mortgage Fraud, Fraud, Financial Fraud, Mortgage Fraud Task Force, Foreclosure Fraud, Eric Schneiderman, Financial Crimes, Obama Financial Reform, Financial Crimes Unit, Politics News
Becky Bond

President Obama needs to give the Department of Justice task force the resources required to launch a serious investigation that will bring about real accountability before the statutes of limitations run out for Wall Street's crimes.

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Cybercrime A Huge Problem On Wall Street

The Huffington Post | Alexander Eichler | Posted 03.28.2012

Read More: Financial Fraud, Fraud, Video, Cybercrime, Crime, Cyber Crime, Cyber Security, Financial Crime, Fbi, Cybersecurity, Financial Crimes, Recession, Business News

Years after the global financial crisis of 2008, there's a new problem on the minds of those working on Wall Street. That's the conclusion of a new...

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Ex-Exec At Disgraced Mortgage Lender Pleads Guilty To Huge Fraud

AP | MATTHEW BARAKAT | Posted 05.20.2012

Read More: Financial Fraud, Video, Taylor Bean & Whitaker, Delton De Armas, Mortgage Fraud, Mortgage Crisis, Business News, Financial Crimes, Housing Crisis, Delton De Armas Taylor Bean, Business News

ALEXANDRIA, Va. — The chief financial officer of what had been one of the nation's largest private mortgage companies pleaded guilty to charges ...

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The JOBS Act Is So Criminogenic That It Guarantees Full-Time Jobs for Criminologists

William K. Black | Posted 05.20.2012

Read More: Regulation, Startups, Jumpstart Our Business Startups Act, Jobs Act, Financial Regulation, Financial Fraud, Fraud, Congress, Investment, Deregulation, 112th Congress, Investors, Business News
William K. Black

The "Jumpstart Our Business Startups" Act, the comically forced effort to create a catchy acronym, is the most cynical bill to emerge from a cynical Congress and administration. It is an exemplar of why congressional approval ratings are well below those of used car dealers. The JOBS Act is something only a financial scavenger could love. It will create a fraud-friendly and fraud-enhancing environment. It will add to the unprecedented level of financial fraud by our most elite CEOs that has devastated the U.S. and European economies and cost over 20 million people their jobs. Financial fraud is a prime jobs killer.

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New Jobs Bill Great Except For The Financial Fraud Thing

The Huffington Post | Alexander Eichler | Posted 03.15.2012

Read More: Financial Fraud, House of Representatives, Congress, Senate, Small Business, Jobs Bill, Mary Schapiro, Lynn Turner, Regulation, Sec, Securities and Exchange Commission, Job Creation, Jobs Act, Financial Regulation, Video, Business News

Congress might soon pass a bill aimed at creating jobs. But there's a catch. Regulators say the bill -- known as the Jumpstart Our Business Startup...

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Why Angry Investors May Be Getting Angrier

Reuters | Posted 05.13.2012

Read More: Video, Financial Fraud, Securities Fraud Settlements, Securities, Reuters, Business News, Financial Crimes, Civil-Securities-Fraud, Securities and Exchange Commission, Securities Fraud, Business News

* Lowest settlement totals in a decade - Cornerstone * Pickup in SEC enforcement may spur more payouts By Jonathan Stemp...

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Guess Who's Getting Targeted By Tax Scammers Again

The Huffington Post | Alexander Eichler | Posted 03.05.2012

Read More: Financial Fraud, Income Tax, Older Americans, Senior Citizens, Social Security, Irs, Internal Revenue Service, College Tax Credit, College Tuition, Tax Scams, Financial Scams, Tax Fraud, Tax Cheats, American Opportunity Tax Credit, Video, Business News

It's tax season -- which means that scammers are once again trying to rip off the elderly. The Internal Revenue Service issued a notice on Monday ...

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Four Ways Seniors Can Fight Financial Fraud

InvestingAnswers | Posted 04.30.2012

Read More: Elderly, Financial Fraud, Investing, Baby Boomers, Senior Citizens, Retirement, Personal Finance, Stock Market, Financial Scam, Financial Fraud Seniors, Investment Scams, Money News
InvestingAnswers

Seniors tend to rely more on the assets they've accumulated, as they may no longer be earning a steady income. Combined with being intellectually vulnerable, this makes them attractive prey for would-be scammers.

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Looking For Sweet Whistleblower Cash? Don't Go To The FBI

The Huffington Post | Alexander Eichler | Posted 02.29.2012

Read More: Financial Fraud, Video, Boston College, Whistleblowers, SEC Whistleblowers, Whistleblower, Ftc, Financial Reform, FBI Whistleblower, Fbi, Whistleblower Reward, Sec, Securities and Exchange Commission, Financial Regulation, Business News

Getting ready to blow the whistle? Be careful who you hand the information to. Whistleblowers who go to the FBI to tip them off about financial fra...

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Marcus Baram

Why The FBI Says Corporate Fraud Is Increasing

HuffingtonPost.com | Marcus Baram | Posted 02.27.2012

Read More: Financial Fraud, Thewatchdog, FBI Financial Fraud, FBI Financial Crime, Regulatory Blog, Financial Reform, China Corruption Sentence, Watchdog Blog, Securities and Exchange Commission, China Corruption, Business News

In China, the former president of the state-owned Shanghai Pharmaceutical Group was recently sentenced to death for taking almost $2 million in bribes...

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Gordon Gekko Lives -- In PSA Form!

Posted 02.27.2012

Read More: Financial Fraud, Insider Trading, Video, Fbi Michael Douglas, Wall Street, Business News, Fbi, Financial Crimes, Michael Douglas, Business News

Michael Douglas has a new starring role. The FBI has enlisted Douglas, an actor famous for his roles in Basic Instinct and Traffic, to encourage W...

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On the Mortgage Settlement: There Is No Political Solution to a Math Problem

Dylan Ratigan | Posted 04.11.2012

Read More: Financial Fraud, Mortgage Fraud, Mortgage Crisis, Financial Crisis, Mortgages, Homeowners, Mortgage Settlement, Finance, Economy, Economic Crisis, Business News
Dylan Ratigan

We need to look at our banking and housing system and engage in a ruthless yet compassionate evaluation of whether it is working to solve our national needs. Serious thinkers in both parties recognize that it isn't.

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Bond Trader Prosecutions Too Little, Four Years Too Late

Mark Gongloff | Posted 04.02.2012

Read More: Financial Fraud, Cdos, Credit Suisse, Credit Suisse Traders, Financial Crisis, Global Financial Crisis, Mortgage-Backed Securities, Business News
Mark Gongloff

Four years ago, Barack Obama was not yet even the Democratic nominee for president. Today he's running for reelection, and his Justice Department is expected to bring criminal charges against some former Credit Suisse traders for fraud they allegedly committed four years ago. We can hope this is the only the beginning of an aggressive new campaign to root out the malfeasance that helped bring down the financial system, but for now it feels like too little, four years too late.

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Loren Berlin

Details Emerge of New Financial Fraud Unit

HuffingtonPost.com | Loren Berlin | Posted 03.27.2012

Read More: Financial Fraud, State of the Union 2012, Eric Schneiderman, Sotu 2012, Financial Crisis, Financial Fraud Enforcement Task Force, Financial Crimes Unit, Barack Obama, Business News

The new financial crimes unit announced by President Barack Obama during Tuesday's State of the Union address will have the power to investigate mortg...

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Loren Berlin

California Still Not Joining National Mortgage Settlement

HuffingtonPost.com | Loren Berlin | Posted 01.30.2012

Read More: Financial Fraud, Subprime Crisis, Foreclosure Crisis, Mortgage Settlement, National Mortgage Deal, Housing, Kamala Harris, California Attorney General, Eric Schneiderman, Financial Fraud Enforcement Task Force, Housing Crisis, Business News

One day after New York Attorney General Eric Schneiderman was named co-chairman of a federal mortgage fraud task force, California Attorney General Ka...

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Loren Berlin

Creation Of Obama's New Financial Fraud Task Force Feels Like 'Groundhog's Day' To Some

HuffingtonPost.com | Loren Berlin | Posted 02.24.2012

Read More: Financial Fraud, State of the Union 2012, Eric Schneiderman, Sotu 2012, Financial Crisis, Financial Fraud Enforcement Task Force, Financial Crimes Unit, Barack Obama, Business News

The announcement that President Barack Obama would create a task force devoted to cracking down on financial fraud comes comes just three years after ...

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Zach Carter

President Obama's New Financial Crimes Team Has Bank Ties

HuffingtonPost.com | Zach Carter | Posted 01.30.2012

Read More: Foreclosures, Harp, Jared Bernstein, Obama, AG Settlement, Foreclosure Fraud, Financial Fraud, Video, Tbtf, Wall Street, Sotu, Banks, Khuzami, State of the Union, Schneiderman, Politics News

WASHINGTON -- President Barack Obama vowed during Tuesday's State of the Union Address to establish a new financial crimes unit dedicated to investiga...

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SEC Ramping Up Efforts To Stop Hedge Fund Fraud

The Huffington Post | Alexander Eichler | Posted 12.28.2011

Read More: Financial Fraud, Video, Insider Trading, Freddie Mac, Hedge Fund Fraud, Hedge Funds, Allen Stanford, Lehman Brothers, Fannie Mae, Financial Crisis, Ponzi Scheme, Sec, Securities and Exchange Commission, Bernie Madoff, Bernie Madoff Ponzi Scheme, Business News

Memo to hedge fund managers: It's a bad time to try to overachieve. The Securities and Exchange Commission is cracking down on hedge fund fraud, and t...

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Shell Games: Phantom Firms Bleed Millions From Medicare

www.reuters.com | Posted 12.23.2011

Read More: Fraud, Financial Fraud, Special Report, Shell Company, Reuters, Medicare Fraud Cost, Shell Companies, Medicare, Medicare Fraud, Fifty News

MIAMI/ATLANTA (Reuters) - By the time authorities busted a fake AIDS clinic in Miami, it had bilked Medicare of more than $4.5 million. Still, the man...

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A 5-Part Plan for the President to Fight the Banks "Every Inch of the Way"

Dennis M. Kelleher | Posted 02.19.2012

Read More: Regulatory Agencies, Crimes, Lobbying, Lobbyists, Financial Reform, Bailouts, Funding, Obama, Rulemaking, Financial Fraud, Fraud, Finance, Regulatory Reform, Financial Crisis, Bank Bailout, Financial Regulation, Banking, Banks, Politics News
Dennis M. Kelleher

It is past time for the president to let his actions speak for him and they will speak louder than any of his words. That is what the American people are waiting for. That is also what the banks, Wall Street and their allies fear most.

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