iOS app Android app

Financial Fraud

Zach Carter

What Do Chase Bank, Condoms, The Tea Party, And Petty Fraud Have In Common?

HuffingtonPost.com | Zach Carter | Posted 03.31.2014 | Politics

In mid-March, a division of JPMorgan Chase rejected an application to process payments for the fledgling New York City condom company Lovability, citi...

Setting the Record Straight: BofA's Rebecca Mairone Found Liable for Fraud

L. Randall Wray | Posted 01.23.2014 | Business
L. Randall Wray

Bank of America specialized in making mortgages with terms that the loan officers and executives like Mairone knew the borrowers could not possibly service. Fraud was the business model. Foreclosure was the expected result.

Why Are Appraisers Furious at Fraud by Their Peers While Corporate Lawyers Are Complacent?

William K. Black | Posted 10.12.2013 | Business
William K. Black

I know that the public won't find it strange that elite Wall Street lawyers could not muster a single hero while the appraisers produced tens of thousands. The public does not expect much from Wall Street lawyers.

Banknado!

Richard (RJ) Eskow | Posted 09.27.2013 | Politics
Richard (RJ) Eskow

It's a real-life disaster movie, one that's left neighborhoods in ruins all across the country, killed thousands of people, and ruined millions of lives. You might call it a "Banknado."

How to Spot and Prevent Senior Financial Fraud

Jim T. Miller | Posted 08.17.2013 | Fifty
Jim T. Miller

Spotting a scam or a con artist is not always easy to do. They range from shady financial advisers to slick-talking telemarketers to professional caregivers and relatives who steal from the very people they're supposed to be looking after.

The Importance of Ensuring Older Adult Financial Security

John Taylor | Posted 07.29.2013 | Politics
John Taylor

After the irresponsible lending and nefarious practices that led to the crash of the economy and the housing crisis, it is the moral responsibility of financial institutions and regulators to right the ship and do right by older adults, and indeed by all consumers.

'Pervasive' Fraud by Our 'Most Reputable' Banks

William K. Black | Posted 04.30.2013 | Business
William K. Black

A recent study confirmed that control fraud was endemic among our most elite financial institutions. The key conclusion of the study is that control fraud was "pervasive."

Eleazar David Melendez

Is This The Next AIG?

HuffingtonPost.com | Eleazar David Melendez | Posted 02.14.2013 | Business

A crucial change in the way financial derivatives are packaged and sold on Wall Street is enabling traders to bypass new regulations aimed at limiting...

Eleazar David Melendez

Bankers Who Made Millions In Housing Boom Misled Investors: Study

HuffingtonPost.com | Eleazar David Melendez | Posted 02.13.2013 | Business

Bankers who made billions of dollars packaging home loans into bonds during the prime years of the housing boom provided false information to investor...

Eleazar David Melendez

Bankers Giddy After SOTU Speech

HuffingtonPost.com | Eleazar David Melendez | Posted 02.13.2013 | Business

President Barack Obama’s failure to mention financial reform during Tuesday night’s State of the Union address is a disappointing setback that sho...

France's 75% Millionaires Tax and America's Insidiously Crafted Two Tiered Law Enforcement

Raymond J. Learsy | Posted 10.12.2012 | Business
Raymond J. Learsy

If the rule of law is not applied equally, whereby a teenager harboring a pack of marijuana gets jail time while executives who cashed in millions pedaling fraudulent financial instruments remain untrammeled, the very edifice of America begins to crumble.

Report: Cheaters Get 'High' From Breaking The Rules

The Huffington Post | Harry Bradford | Posted 08.07.2012 | Business

Forget about the notion of a guilty conscience. Cheating actually feels good, according to a new study. Breaking the rules dishonestly doesn't resu...

How Peregrine Financial Got Around A Law Designed To Prevent Corporate Fraud

Reuters | Posted 09.28.2012 | Business

By Kevin Drawbaugh and Dena Aubin July 29 (Reuters) - When Peregrine Financial collapsed earlier this month, a nagging question resurfa...

Watchdog Scolded For Taking Brokers At Their Word Amid 20 Year Fraud

Reuters | Posted 09.17.2012 | Business

* NFA let firms verbally pledge to do better-2002 report * CFTC report called practice troubling * Report came during mi...

Disgraced CEO May Have Bought Private Jet, Wine Collection With Stolen Money

Reuters | Posted 09.17.2012 | Business

By Ann Saphir CHICAGO, July 18 (Reuters) - Peregrine Financial Group CEO Russell Wasendorf Sr., who last week confessed to bilking fu...

D.M. Levine

Former PFG Employee 'Was Waiting For Something Like That To Happen'

HuffingtonPost.com | D.M. Levine | Posted 07.16.2012 | Business

When Leon Bressert first heard that his former employer, Peregrine Financial Group, had collapsed amid fraud allegations, he was not surprised. “I w...

How One Watchdog Missed Blatant Fraud For 20 Years

Reuters | Posted 09.12.2012 | Business

* 20-year-fraud raises questions about NFA oversight * Sources say NFA auditors typically new college grads * NFA offici...

CEO Of Disgraced Company Faces 'Up To Decades In Prison'

Reuters | Posted 09.12.2012 | Business

CEDAR RAPIDS, Iowa July 13 (Reuters) - Russell Wasendorf Sr., the founder and CEO of failed futures brokerage PFGBest, faces "up to decades in priso...

Bigfoot, Unicorn and Job Creators

Miller Hudson | Posted 09.11.2012 | Denver
Miller Hudson

With a political system that operates as a public auction, should we really be surprised, whoever wins, when the highest bidders get precisely the kind of government they want?

D.M. Levine

'I Thought This Could Never Happen Again'

HuffingtonPost.com | D.M. Levine | Posted 07.12.2012 | Business

When commodities brokerage firm MF Global collapsed last October, losing $1.6 billion in customer funds in the process, Christopher Dickerson was sure...

As the Rot Spreads: Holder, Don't Hold Back

Mike Lux | Posted 09.09.2012 | Politics
Mike Lux

We are left with one thing we could do now to go straight at the heart of darkness: prosecute these bankers. The president, to his credit, set up a task force to do just that. So why doesn't anything seem to be happening?

Ex-Bank CEO Sentenced To Six Years In Prison

The Huffington Post | Alexander Eichler | Posted 06.14.2012 | Business

In 2006, American Banker magazine named Jerry Williams one of its Community Bankers of the Year. Now Williams is headed to prison for six years. Some...

2 Men Accused In $500 Million Financial Fraud Case

The Associated Press | Posted 02.19.2013 | Chicago

CHICAGO -- In one of their largest financial-fraud cases ever, federal prosecutors in Chicago announced charges Friday against the former CEO and head...

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

Richard (RJ) Eskow | Posted 07.22.2012 | Business
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."

How Financial Criminalization Crashed Economy, Goes Unpunished

Charles Ferguson | Posted 07.22.2012 | Business
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.