How to Blow the Whistle on Bank Fraud

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gavel and "bank fraud" sign

The Federal Government offers potentially significant rewards to whistleblowers who provide information to the government that helps protect financial institutions by “deterring would-be criminals from including financial institutions in their schemes.” United States v. Serpico, 320 F.3d 691, 694-95 (7th Cir. 2003). The Financial Institutions Reform, Recovery and Enforcement Act (FIRREA) and the Financial Institutions… Read more »

Why Is Utah Home To So Many Ponzi Schemes?

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doub hronek

EDITORS NOTE: this is a repost of a story that aired on our local NPR affiliate, KUER on December 30, 2019. Doug Hronek is a client of mine who agreed to speak publicly about this experience. We have filed lawsuit against Live Abundant and its agents on behalf of Doug and a number of other… Read more »

Deep Dive: Ponzi Schemes, Then and Now

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quote by charles caleb colton

EDITOR’S NOTE: This is a guest post by Bryce Welker, who is an active speaker, blogger, and tutor on accounting and finance. As the founder of Crush The CPA Exam, he has helped thousands of candidates pass the CPA exam on their first attempt. The views expressed in this article are solely those of Mr…. Read more »

In the Decade Since Madoff, Ponzi Schemers Try New Tactics

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EDITOR’S NOTE: This is an excellent article that appeared in the New York Times today. I am posting it here because it contains some information about some of the new tactics that perpetrators of these schemes are using to avoid detection. They are offering products not typically associated with a Ponzi, such as financial services,… Read more »

The Growing Problem With Sales of Unregistered Securities

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fip llc logo

Recently I have been busy working to recover losses for a large number of investors who lost money in unregistered investments offered by Woodbridge and Future Income Payments or FIP. In many cases these investments were recommended by insurance agents who were not licensed to sell securities, and did not perform adequate due-diligence on these… Read more »

BREAKING: Vescor Ponzi Mastermind Val Southwick Has Been Paroled

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Val Southwick

Val Southwick, who was convicted of defrauding more than $140 million from hundreds of Utah residents, was quietly paroled last month after serving just ten years, according to KSL News. He pleaded guilty to nine counts of securities fraud, each second-degree felonies, and was sentenced to serve anywhere from 9 to 135 years in Utah… Read more »