Coronavirus causes a record number of hotels to default on their loans: report by Sarah Paynter, Yahoo! Finance (66K) Almost a quarter of hotels were delinquent on their mortgage payments in July, the highest rate on record, according to a new report. Some 23.4% of commercial mortgage-backed security (CMBS) loans, which finance many hotels, were more than 30 days late in July, totaling $20.6 billion. Only 1.34% of hotel CMBS loans were in default in…

SBA PPP Program Frequent Target of Fraud – Whistleblower Reward Opportunities We are not big fans of the billing practices of big defense contractors. We need the products they sell but the prices they charge seem outrageous. Most people probably remember the scandal when the Defense Department was paying $14,000 for toilet seats and cups for $1,280. The greed doesn’t stop there. A Virginia Beach, Virginia based defense contractor that already receives billions of dollars…

The IRS Goes Down Under (FATCA Post) [Post updated 2019] An article in the Australian Financial Review claims that the IRS is ramping up its activities in Australia. According to the article, the IRS is “scrutinizing the tax affairs of United States citizens living in Australia with renewed intensity, as the worldwide battle to shore up dwindling government tax reserves heats up.” The source of their story is Australian accountants. We aren’t surprised by the…

Sencer Sevket – International Jet Setting Fraudster? [Originally posted in October 2010, now updated through 2020.] (Editors note: One of the best investigative journalists in the business is David Marchant. This story was first reported by David.) British citizen Sencer Sevket formed a mutual fund in the Cayman Islands after a U.S. federal court issued a warrant for his arrest on charges of investment fraud and despite an unpaid $21 million dollar judgment from US…

How Restaurants Can Tackle COVID’s New Insurance Challenges by Rachel Pittman | QSR (99K) When the coronavirus pandemic began, many brands found themselves facing unforeseen liabilities. Here’s how to protect against that in the future. It’s all too easy for operators to leave the fine print of their brands’ insurance policies to agents. The world of insurance is complex, and often operators take their providers’ recommendations at face value, or simply let their policies roll…

Lose Money with Independent Financial Group or Stockbroker Haynes Kendall? Call Us! The securities fraud lawyers at Mahany Law are investigating Haynes Kendall, a stockbroker and investment adviser employed at both Independent Financial Group LLC and Capital Financial Consultants Group. An investor reports losing a significant portion of his / her savings after investing it with Haynes Kendall. The customer claims his accounts were churned. Churning occurs when a broker executes a large number of…

IRS Pays Cash Whistleblower Rewards for Information about Unreported or Unpaid Taxes. Learn How to Collect Your Reward “Will I get caught?” is one of the most common questions asked by potential tax cheats. The temptation to cheat the IRS is overwhelming for thousands of Americans. While no one knows whether and when they will be caught, the IRS has become much better at finding those who evade taxes. One of the best weapons in…