Mahany Law

Latest from Mahany Law

Have Information About Insider Trading? You May Be Eligible for a Huge SEC Whistleblower Reward [Original post Feb 2011, Updated and Reposted Feb. 2021] The U.S. Attorney’s Office in Manhattan has charged a hedge fund manager with insider trading. Donald Longueuil was charged with conspiracy to commit securities and wire fraud and obstruction of justice. The obstruction charge stems from Longueuil’s middle of the night efforts to destroy computer hard drives. The FBI and SEC…
Have Information About Misuse of Payroll Protection Program Funds (PPP Fraud)? You May Be Eligible for a Large Cash Reward Since the government first announced the Payroll Protection Program, tens of thousands of businesses and self-employed individuals have signed up. Because the program was rushed in order to get relief to businesses hurt by the pandemic, neither the government nor the SBA did much due diligence. We trusted applicants to be honest. Most applicants were…
IRS Accuses Deutsche Bank of $190 Million Abusive Tax Shelter Whistleblower Rewards for Information about Banks Peddling Phony Tax Shelters [Post updated and rewritten January 2021] Back in 2014 we announced that the IRS and Justice Department had filed a civil suit against Deutsche Bank seeking to collect $190 million in taxes. The government accused the German bank of using shell companies in a complex abusive tax shelter scheme. The lawsuit comes on the heels…
Were You Sold Unsuitable Investments by a Wedbush Securities Stockbroker? We first began writing about Wedbush Securities in 2011. Back then, a headline indicating that Wedbush was ordered to pay $3.5 million to one of its own former employees. The amount alone was enough to warrant some investigation. It turns out that Wedbush has a long and sordid history with regulators. One that continues through today. In the 2011 case, a Financial Industry Regulatory Authority…
Elder Financial Abuse Is on the Rise. Learn What You Can Do to Protect Yourself or a Loved One! If the figures coming from the North American Securities Administrators Association (NASAA) are correct, the number of fraud actions involving victims over the age of 50 is staggering.  We don’t have 2020 data yet and with COVID, we expect 2020 will be another record breaking year for fraudsters. Sadly, regulatory agencies only have enough resources to…
Were You Sold Unsuitable Investments by a Wells Fargo Stockbroker? Wells Fargo Advisors has repeatedly been caught pushing unsuitable investments on their clients. One would think that after all the scandals that have engulfed the beleaguered bank, senior management would start taking their customers more seriously. Our first post on Wells Fargo selling unsuitable investments was in 2011. It’s now 2021 and we are still re-writing this post. In 2011, we first wrote that Wells…
This Is a Scene No One Wants to See Yet a Doctor in Florida Pleaded Guilty to Performing Medically Unnecessary Heart Procedures in a Multi-Million Dollar Medicare Fraud Scam It’s Christmas Day and here I am writing about one of the most twisted Medicare fraud scams to date. A doctor in Tallahassee, Florida pled guilty on December 18th to performing unnecessary heart procedures. When I was a prosecutor, we didn’t like proceeding with major felony…
In today’s commercial real estate market, commercial loans are often pooled together to create commercial mortgage backed securities (CMBS). These loan pools typically have several tranches. Each varies in credit quality and payment priority. The first-to-be paid tranches of bondholders usually possess investment grade securities. These are the A class bondholders. The last……
So many shopping centers are struggling to stay afloat during the pandemic. Even with a vaccine, many experts say that the face of retail shopping has changed forever. How many people will permanently shop online once things return to normal? Since the pandemic began, mall owners have had to contend with stay at home orders, orders limiting occupancy, extra precautions for workers and……
LPL Financial In Trouble… Again. If You Lost Money Because of the Misconduct of an LPL Advisor, We Can Help You Recover Your Hard Earned Money [Updated through 2021] LPL Financial is certainly not a bucket shop or “boiler room” in the tradition of the Wolf of Wall Street and Stratton Oakmont Securities but lately, its beginning to behave like one. An industry leader with over 16,000 representatives,  LPL is a big brokerage firm with…