Las Vegas Realtor Sentenced for Bankruptcy Fraud Scheme

Former realtor Barbara Jean Dennis “pleaded guilty in February to bankruptcy fraud, admitting that she used the automatic stay provision in bankruptcy proceedings to avoid paying the mortgages, while at the same time, collecting rent from her tenants, according to a Department of Justice news release.” Dennis owned at least 12 real estate properties in Texas… Continue reading Las Vegas Realtor Sentenced for Bankruptcy Fraud Scheme

SEC Wants Executor of Wyly Estate to be Held in Contempt

The U.S. Securities and Exchange Commission said on Wednesday (August 7th) that they want the executor of Charles Wyly’s estate to be held in contempt for not paying the $101.2 million that is owed due to Charles Wyly’s fraudulent actions. In the letter that the SEC filed in Manhattan court, they stated that the executor,… Continue reading SEC Wants Executor of Wyly Estate to be Held in Contempt

Debt Collector Faces Charges for Targeting 6,000 Consumers

Law enforcement officials have arrested John Williams, a Georgia man whom prosecutors say defrauded 6,000 consumers out of $4.1 million from 2009 to 2014. You read that correctly: $4.1 million. “The prosecution is part of the more aggressive approach taken by Manhattan U.S. Attorney Preet Bharara against consumer-focused scams, filing criminal charges over behavior more often pursued civilly by… Continue reading Debt Collector Faces Charges for Targeting 6,000 Consumers

SAC Capital Advisors Manager Accused of Pressuring Analyst for Inside Information

Prosecutors are seeking to obtain an indictment against a former SAC Capital Advisors portfolio manager, Michael Steinberg.  Steinberg specialized in technology stocks at SAC’s Sigma Capital Management Unit.  According to Jon Horvath, a former anaylst at SAC who has pleaded guilty to securities fraud, Steinberg pressured him to gather confidential information about technology companies.  Authorities hope that… Continue reading SAC Capital Advisors Manager Accused of Pressuring Analyst for Inside Information

Bankruptcy Trustees Sue Law Firms

Two large law firms, Bryan Cave and Holland & Knight have been sued by different bankruptcy trustees over their prior representation of companies which later filed bankruptcy proceedings.  Both firms strongly deny the claims made against them.  “Bankruptcy trustees for mortgage loan broker Estate Financial Inc. (EFI) and affiliate Estate Financial Mortgage Fund (EFMF) filed malpractice… Continue reading Bankruptcy Trustees Sue Law Firms

North Texas Prosecutors Target White Collar Crime

Learning about social trends has been both interesting and instructive.  In a time of increasingly negative social moods, there will be both falling markets and finger pointing at a scapegoat; putting blame on the one who caused this meltdown (deserved or not).  As part of this trend, there will be increasing efforts to target the… Continue reading North Texas Prosecutors Target White Collar Crime