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Posts Tagged ‘fraud’

Former Michigan athlete sentenced to prison for fraud
Rumeal Robinson, a former NBA player who led the University of Michigan to its only NCAA men’s basketball championship in 1989, received a 6½-year prison term Friday for bank bribery, wire fraud and conspiracy.

Read more on The Des Moines Register

Six family members admit fraud
Six members of a family that ran real estate companies in Greater Cincinnati pleaded guilty this week to defrauding banks of about $3 million. Salvatore Sferrazza, 70, was the last to plead Friday when he admitted his involvement in money laundering and a conspiracy to commit wire and mail fraud.

Read more on The Cincinnati Enquirer

Fraud charge at E&Y
Accounting giant Ernst & Young used a “house of cards” business model to help defunct Wall Street bank Lehman Brothers conceal for a period of years its fragile balance sheet, Attorney General Andrew Cuomo charged in a hard-hitting lawsuit filed yesterday. The suit, the first major legal action to place blame…

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Elmsford family charged in Rockland mortgage fraud
Twins from Elmsford, their mother and a fourth person have been indicted on federal bank and mortgage fraud charges related to what investigators said were phony loans on properties throughout Rockland County, according to court documents.

Read more on The Journal News

After reading the SEC Goldman complaint I came to the conclusion that the “overview” fraud has not been addressed. Instead we have implications based on the “verbiage” of representations instead of the very structure of instruments which are no more than schemes. These pieces of paper are so toxic they cannot be netted without exposing fraud, and the loss of money. I then go over something I call a “spiral reaction” which is the process of compounding mistakes to cover up fraud and lies. My question is what event will trigger the next spiral.

Senate panel: WaMu knew loans were fraud
Washington Mutual made home loans it knew would tank while top executives were rewarded for high-risk lending and lax controls, according to internal WaMu documents released by a Senate panel..The Senate Permanent Subcommittee on…

Read more on Orange County Register

This is one fraud after another on the American people. FIGHT THE FED campaignforliberty.com Feel free? What does Liberty mean to you? http Tuesday, 21 July 2009 US Congressman Dennis Kucinich (D-Ohio, 10th District) questions Neil M. Barofsky, the Special Inspector General for the Troubled Asset Relief Program (SIGTARP), testifying before the House Committee on Oversight and Government Reform, about interest payments made to banks that keep their TARP funds and other government (taxpayer) bailout money with the Federal Reserve, instead of making loans to struggling Americans (the original intent of the TARP, remember?) The Fed makes generous interest payments to the banks for “parking” their “excess reserves” at the Fed. And guess who will end up paying for this “interest” given to the banks, and everything else? That’s right, you and me, John and Jane Q. Suckers!! The dumb, fat sheep! By the way, Neil M. Barofsky is a good guy here — don’t beat up on him. He’s in immediate danger of losing his job (if not his life) becauses he’s revealing too many of the Temple’s dark secrets. Barofsky deserves our full support. You can download Special Inspector General for the Troubled Asset Relief Program (SIGTARP) reports,testimonies and audits at sigtarp.gov. The July 20th, 2009 report, “SIGTARP Survey Demonstrates That Banks Can Provide Meaningful Information On Their Use Of TARP Funds,” is esecially interesting and can be downloaded at sigtarp.gov

A Home Loan Modification can help you stop foreclosure and stay in your home. But if you’re like most homeowners, you’re probably wondering how it will affect your credit, and whether in a good or bad way. Unfortunately, there’s no single answer—it all depends on how far behind you are and the kind of mortgage loan modification you

Everyday people are injured or sustain losses in some sort of accident or incident. Some of these incidents are at the neglect of other people or businesses. The person injured in the incident might need to seek compensation in the form of a lawsuit against the party involved. However, it’s not as simple as 123 to file a lawsuit and win your case. You’ll need an attorney who will take your case to civil court, and attorneys aren’t cheap. Read the rest of this entry »

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The Federal Making Home Affordable Program has created a number of home loan programs that will help keep Atlanta families in their homes, stabilize Atlanta’s communities and assist Atlanta Read the rest of this entry »