News for Brian Mahany


Whistleblowers Share Over $170M in Bank of America Settlement

Whistleblowers Share Over $170M in Bank of America Settlement

- The New American
Under the Whistleblower Act — also known as the False Claims Act, or FCA — the details behind 16 lawsuits involving the Bank of America, and that bank's settlement for nearly $17 billion in August of this year, were kept secret, until Thursday, December 18, when they were “unsealed.” Whistleblowers involved in exposing the frauds by the bank and its Countrywide Financial subsidiary will share more than $170 million, dwarfing other whistleblowers’ payouts, and...

Whistleblowers Score a Big Payday -- Update

Whistleblowers Score a Big Payday -- Update

- The Wall Street Journal
There is a new winner in the biggest bank settlement to come out of the financial crisis: whistleblowers.
Four whistleblowers will collect a total of more than $170 million for helping investigators get a record $16.65 billion penalty against Bank of America Corp., among the biggest such payouts to tipsters in history.
The payments, to three individuals and a small New Jersey mortgage company, are in exchange for the whistleblowers' cooperation in a probe into Bank of America's...

Whistleblowers Score a Big Payday -- Update

Whistleblowers Score a Big Payday -- Update

- Morningstar
There is a new winner in the biggest bank settlement to come out of the financial crisis: whistleblowers.
Four whistleblowers will collect a total of more than $170 million for helping investigators get a record $16.65 billion penalty against Bank of America Corp., among the biggest such payouts to tipsters in history.
The payments, to three individuals and a small New Jersey mortgage company, are in exchange for the whistleblowers' cooperation in a probe into Bank of America's...

Whistle-Blower Payouts Approach $170 Million in Bank of America Case

Whistle-Blower Payouts Approach $170 Million in Bank of America Case

- The New York Times
The total payouts to whistle-blowers in the federal government’s $16.65 billion settlement with Bank of America over its mortgage business may approach $170 million.
Edward O’Donnell, a former executive at Countrywide Financial, and Robert Madsen, a former property appraiser for the bank already have been identified as two of the whistle-blowers that federal prosecutors gave credit to in the settlement agreement with Bank of America.
The other two whistle-blowers...

Goliaths Spanked

Goliaths Spanked

America's Billion Dollar Whistleblower Lawyer

- Interview Platform Magazine
Whistleblower Claims & Fraud Recovery Lawyer: Brian Mahany Brian Mahany's evolution from New Orleans street cop to America's newest Billion Dollar Lawyer is a 20 year tale of justice achieved for real people against the super powerful. He chronicles his string of David v Goliath wins in Saints, Sinners & Heroes: Covert Ops in the War Against the C-Suite Mafia.
Brian Mahany Whistleblower Lawyer Interview Staff: You have enjoyed several billion dollar whistleblower cases including...

The “Selling Away” Crackdown May Breed More Breakaways

The “Selling Away” Crackdown May Breed More Breakaways

- Financial Times
InvestmentNews’ revelation that independent broker-dealer LPL Financial terminated James Bashaw for “selling away” marks the second high-profile brokerage firing for similar infractions in a few weeks. But the latest case doesn’t shed light on why this infraction, by some accounts tolerated in the past, is now a firing offense — especially when other business models don’t even consider it an infraction.
According to Bashaw’s Finra CRD...

Good News For US Canadian Dual Nationals – FATCA Post

Good News For US Canadian Dual Nationals – FATCA Post

- Global Wealth Protection
The United States and Canada have long enjoyed very close ties. That relationship isn’t likely to change in the near future, although FATCA – the Foreign Account Tax Compliance Act – has angered many Canadians. Some equate FATCA with U.S. imperialism and say the law threatens Canada’s sovereignty.
Congress passed FATCA in 2010. The law hopes to curtail tax evasion that relies on offshore bank accounts to hide money from the IRS. Having the offshore account...

Vanguard to fight ‘tax dodge’ lawsuit vigorously

Vanguard to fight ‘tax dodge’ lawsuit vigorously

- Financial Times
For years the world’s biggest asset managers have tried everything to slow Vanguard’s meteoric rise. Now a startling lawsuit, dismissed by some legal experts but credited by others, is accusing the low-cost investment company of building its empire on nothing less than systematic tax evasion.
The suit, filed in New York by David Danon, a tax lawyer whom Vanguard fired last year, targets Vanguard’s singular, all-important mutual ownership structure. In this model, the...

Civil RICO complaint latest twist from alleged Ponzi scheme

Civil RICO complaint latest twist from alleged Ponzi scheme

Cabot Investment Properties LLC and its principals, Carlton P. Cabot and Timothy J. Kroll, allegedly stole more than $5 million from Massachusetts residents.

- Inside Counsel
A civil RICO (Racketeer Influenced Corrupt Organization) complaint has been filed against Wells Fargo, US Bank and two other entities in the latest wrinkle in a complex financial case involving investors.
Representing over 200 people who were investors in the alleged Cabot Ponzi scheme, Attorney Brian Mahany, a former Maine state revenue commissioner, saidthe often-elderly victims became joint guarantors on debt incurred by Cabot.
The latest event is connected to Carlton Cabot, who...

Bank of America settles mortgage probes for $16.65 billion

Bank of America settles mortgage probes for $16.65 billion

- CNBC
Bank of America on Thursday agreed to pay $16.65 billion to end investigations into that the bank and its units sold in the run-up to the financial crisis.
The settlement announced on Thursday by the U.S. Department of Justice calls for the second-largest U.S. bank to pay a $9.65 billion cash penalty, and provide $7 billion of consumer relief to struggling homeowners and communities.
It is expected to resolve the vast majority of the Charlotte, North Carolina-based bank's remaining...

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