Need a Read on the Merrill Sub-Prime Settlements?
SEC Look at Countrywide Finance Gets Real
Sub-Prime Tales of Woe, New York Magazine Collects The Worst
So says proud countrywide parent, Bank of America
. Oh, and Connecticut is suing
. That too.
Labels: Countrywide, SEC, sub-prime mortgage
Your Handy Guide to the Fall of Fannie Mae
Two From Bear Stearns Arrested
Now Here's An Angle I Never Worked...
Check it out - via the indispensable Daily Intelligencer
Labels: sub-prime mortgage
Former SEC Chairs Donaldson, Levitt and Ruder Chime in on the Sub Prime Mess
Using investigators to track down sellers of sub prime assets - to prove the sellers knew that their wares had a higher probability of failure than they disclosed to potential customers. Really interesting stuff
Labels: investigation, sub-prime mortgage
FBI Directory Says Sub-Prime Investigation Leads to Hedge Fund Doors
Perhaps unsurprisingly they advocate a firm hand
from their former baby.
Labels: SEC, sub-prime mortgage
FBI director Muller's comments
Did I Mention We'd Be Seeing More of This?
Operation Homewrecker - Feds Bust Up Mortgage Fraud Ring and Nab 19
, made the annual American Bar Association Litigation Section conference in Washington, D.C. are sure to ruffle features in some quarters. Like say, BloggingStocks
, for one.
Labels: FBI, Fraud, hedge fund, sub-prime mortgage
Hedge Fund Dirty Tricks and the HBOS Implosion
Starting with this piece of work, Charles Head. Two separate indictments were filed based on a joint FBI / IRS investigation into Head and his numerous cohorts. They allegedly obtain false titles for more than 100 homes netting them millions in illicit loans, all the while promising homeowners that they could rescue their houses from foreclosure.
In addition to the aforementioned Mr. Head, here are a few of the other folks involved in the scheme, as reported by My58 News
- Jeremy Michael Head, 30, of Huntington Beach
- Elham Assadi, aka Elham Assadi Jouzani, aka Ely Assadi, 30, of Irvine
- Leonard Bernot, 51, of Laguna Hills
- Akemi Bottari, 28, of Los Angeles
- Joshua Coffman, 29, of North Hollywood
- John Corcoran, aka Jack Corcoran, 52, of Anaheim
- Sarah Mattson, 27, of Phoenix, Ariz.
- Domonic McCarns, 33, of Brea
- Anh Nguyen, 36, of Los Angeles
- Omar Sandoval, 32, of Rancho Cucamonga
- Xochitl Sandoval, 29, of Rancho Cucamonga
- Eduardo Vanegas, 28, of Phoenix
- Andrew Vu, 39, of Santa Ana
- Justin Wiley, 28, of Irvine
- Kou Yang, 32, of Corona
- Keith Brotemarkle, 42, of Johnstown, Pa.
- Benjamin Budoff, 41, of Colorado Springs, Colo
- Lisa Vang, 24, of Westminster
You can get more info on the scam and this charming team of con artists via HousingWire
. See also this LA Times piece
. And you certainly expect to see more of these cases coming down the pike, given the sub-prime mess. Desperate people and con men go together like PB & J.
Labels: Charles Head, scam, sub-prime mortgage
FBI Mortgage Fraud Probe Expandeth
You'll love this article from The Daily Telegraph
- an inside look at the "dirty-tricks unit" of a London-based hedge fund. This story has all the good stuff - PIs, hacking, the obligatory sub-prime mortgage crisis connection, rogue traders, market manipulation - it's one stop shopping
Labels: Halifax Bank of Scotland, HBOS, hedge fund, private investigator, rogue trading, sub-prime mortgage
Countrywide and the FBI Get Acquainted
are now in the line up for further scrutiny from Langley. Meanwhile, California also busts some mortgage fraud heads
Labels: Fraud, investigation, sub-prime mortgage
Wall Street Squeezed on Sub Prime Mess
UBS Issues No Comment on Mortgage Investigation
A criminal probe of the sub-prime lender is officially under way
Labels: Countrywide, FBI, sub-prime mortgage
14 Firms Facing Investigation on Sub Prime-Related Insider Trading
Reportedly, the US Attorney in New York's Eastern District is investigating UBS
to determine whether the bank misled investors by inflating the prices of its mortgage bonds. Just the latest firm to be targeted coming out of the sub-prime mess.
Labels: Fraud, sub-prime mortgage, UBS
Sub Prime Collapse Juices The Legal Industry While it Empties Wall Street's Pockets
No names yet, but the probe has been underway since the spring of 2007 - a combined effort of the FBI and the SEC. Parallel probes are also underway on the state level in New York and Connecticut. Details on the FBI sub-prime probe at CNN Money.
Labels: FBI, investigation, SEC, sub-prime mortgage
Securities Suits Back on the Rise?
Not the first time we've posted an article on this topic, but it's a story worth keeping track off
. Where law firms eat, investigators often also find their dinner.
Labels: sub-prime mortgage
Thank you sub-prime mortgage mess.
The Economist Eulogizes America's War on Corporate Crime
SEC Plans a Close Look at Merrill Lynch
Speaking of which, isn't it about time for the Stanford Securities Class Action Clearinghouse to issue one of those end of year review reports? Oh hey - lookee here.
They're calling it a 43% increase.
Labels: securities, Stanford Securities Class Action Clearing House, sub-prime mortgage
The goal being to determine how much of that $2.3 billion dollar loss Merrill saw coming
and how honest they were about the gathering storm.
Labels: Merrill Lynch, SEC, sub-prime mortgage