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The Corporate Observer A Publication by Attorneys Devoted to Protecting Consumer Rights

Tag Archives: fraud

A Better Title for National Consumer Protection Week: National Consumer EMPOWERMENT Week

Posted in Consumer Protection

This week, March 3rd – 9th, is the fifteenth annual National Consumer Protection Week (NCPW).  Yes, it is an important time to spread awareness of common scams and problems that consumers encounter.  But more importantly, it is an opportunity for us to reflect on what exactly “consumer protection” means. The White House issued a Presidential… Continue Reading

Insider Trading in Four Easy Steps: “Network” with Experts for $1000 an Hour

Posted in Banks and Financial Services

Bet you saw this one coming. The plot thickens.  We learned last week that SAC Capital Advisors conducted “the most lucrative insider trading scheme ever,” allowing the fund to produce returns of 30% for the last twenty years.  As a result of the scheme’s discovery, Mathew Martoma, a former SAC portfolio manager, was charged with… Continue Reading

Frankenstorm Sandy’s Next Threat: Storm-Chasing Scam Artists

Posted in Consumer Protection

We’d like to think a natural disaster like Superstorm Sandy brings out the best in people, neighbors helping neighbors, communities working  together for the common good, but, unfortunately, that’s not always the case.  As cleanup efforts commence, scam artists will start to crawl out from underneath wherever they’ve been hiding.  County Commissioners and Attorneys General… Continue Reading

Sergeant Blows the Whistle on Automatic Speeding Ticket Fraud: Allegations Buried in Bureaucracy

Posted in Whistleblowers

National whistleblowers get a lot of media attention, but we seldom hear about the smaller whistleblowers–those who report crime and corruption within their local governments.  The Washington Times, a local DC news source, recently offered a glimpse into the frustration and retaliation that awaits those who have the courage to come forward and blow the whistle… Continue Reading

Government Prosecutors Get Creative to Hold Wells Fargo Accountable for Mortgage Fraud

Posted in Banks and Financial Services

The United States filed suit against banking and mortgage giant Wells Fargo Tuesday, for allegedly lying to the Federal Housing Administration about mortgages Wells Fargo approved during the housing boom.  Not only did Wells Fargo approve mortgages for people who would not likely be able to pay them, they told the FHA that the mortgages… Continue Reading

Raising Public Awareness: The Role of Civil Attorneys

Posted in Consumer Protection

A client of mine from several years ago recently forwarded me an online news report that an old adversary, Jon Harder, had been indicted in U.S. District Court in Oregon for money laundering, mail and wire fraud, and other charges. At one time, Harder ran an empire of more than 300 assisted living centers throughout… Continue Reading

Breaking News: Regulators Knew About Libor Rate Manipulation—And Did Nothing

Posted in Banks and Financial Services

Breaking news.  The Regulators knew as far back as 2008 that the LIBOR rate was being manipulated.  This latest development in the metastasizing Libor scandal is mighty disturbing. The esteemed New York Federal Reserve Bank, on the regulatory “front line” for policing the banking industry, released documents that showed regulators in both the US and… Continue Reading

Beware Small Businesses: Hedging FOREX to “Avoid Taking a Bath” Could Land You in the Ocean Without a Life Raft

Posted in Consumer Protection

As the economy becomes more global, it’s not just Fortune 500 companies that have a presence or connection with overseas markets and currencies, but it’s businesses as small as a local travel agency specializing in Australian travel or an online retailer selling products made in France that are vulnerable to swings in the value of the U.S. dollar… Don’t get me wrong, I don’t blame folks for this innovative way to hedge exchange rate dependency, but they are lambs to the slaughter for the bevy of shady dealers out there.

Lance Armstrong and U.S. Postal’s Fraud on the Government

Posted in Weekend Edition

It pains me to put this prediction on the record, but here goes: Armstrong’s growing legal problems, stemming from accusations that he participated in systematic doping while riding to seven consecutive Tour de France titles, are going to overtake him in the end. He’s going down.

The Better For Business Bureau: aka The Better Business Bureau

Posted in Consumer Protection

No doubt consumers may rely on those BBB ratings and spend hard earned money on a product or service that not only doesn’t deserve an A+, but one that they wouldn’t purchase if they knew the truth. How does that foster trust in the marketplace? Finally, what’s the incentive of doing a better job when companies can get an A + without even going to class?