Has anything changed 10 years on from the Lehman Brothers crisis?

September 2018 marked the 10-year anniversary of the Lehman Brothers bank collapse. At the time,  was the fourth largest investment bank in America. But it had almost as much debt ($619 billion) as it had in assets ($639 billion). Dubbed, the “Lehman Weekend”, the world witnessed the largest bankruptcy in US history. It led to [...]

Not a new low for perpetraitors as another Grenfell Tragedy fraudster jailed.

All fraud is despicable but 26-year old Yonatan Eyob stooped low for this one. On September 7, 2018, Eyob was sentenced to almost three and a half years for scamming the deceased. The city of London was devastated by a massive fire in 2017. Known as the Grenfell Tower fire, the disaster took the [...]

How A-B-C, “Always Be Closing” became a cultural shift and a red flag for fraud.

Here’s how avoiding this popular catchphrase can be a powerful fraud prevention tool. The ABC of sales arrived somewhere in the late fifties with the arrival of washing machines and new types of consumer finance. Every (sales) person worth a grain of salt has applied this ideology at some point in their lives. Highlighted in [...]

Are you thinking about a reverse mortgage? – Think again!

Six years ago, Kenneth and Sadako Miller were struggling to pay their bills. Then they saw an advert on TV that answered their money woes. Kenneth was a disabled Vietnam Veteran and lived with his Japanese wife in Gardner, Massachusetts Both were Seniors. This was a product which promised to turn the value of [...]

Man arrested for fraudulent $20 million property investment scheme.

Seth DePiano operated a mass fraud scheme that lured real estate investors into giving him and the businesses he controlled—The Rental Group, U.S. Funding and Home Services LLC, and Draymond Homes—over $20 million. DePiano fraudulently promised investors that he would use their money to purchase residential properties and either manage the properties for rental [...]

Miami businessman sentenced for $40 million investment fraud.

Claudio Osorio led a $40 million investment fraud linked to one of his companies that promoted a cutting-edge design for the construction of low-cost homes. Osorio’s arrest marked a dramatic fall from grace for a prominent and politically-connected businessman, whose now-defunct company once had Jeb Bush, Florida’s former Governor, on its board of directors, [...]

Housing director convicted for misuse of bonds.

In the early 2000s, former housing director Vincent “Smiley” Gallegos sold homes through Housing Enterprises Inc. and Region III. He allegedly misused bond proceeds to pay salaries and benefits, make loans, and buy vehicles. Housing Enterprises Inc. and Region III are now defunct. The scandal first captured headlines in 2006 when Region III defaulted [...]

Mortgage fraud—two Nevada men convicted.

Dustin Lewis and Brian Sorensen both conspired to defraud OneWest Bank. The pair allegedly planned and implemented a scheme whereby they could avoid foreclosure, and Lewis could retain ownership of his five-bedroom home in Henderson. As part of their scheme, Lewis submitted a false short sale application to OneWest Bank. This application asked bank [...]