This story has been updated One documentary film maker, one investigative journalist, and one law firm willing to take a risk led to the lawsuit the New York Attorney General just filed against JP Morgan for a system wide effort to defraud mortgage investors by Bear Stearns. My readers and viewers of RT’s The Keiser […]
Continue25 Sep
Due Dilligence Problems at JP Morgan Securities: Pension Report Snafu
Due diligence appears to be lacking at JP Morgan Securities. I reported today for Growth Capitalist the mega-bank’s clearing business was using valuation reports from a notorious hedgie manager who has been sued for fraud by regulators and outed from his fund. The inaccurate reports then went to pension investors. JPM Clearing manages the asset […]
Continue23 Sep
New Canaan Murder-Suicide Man worked on Wall Street
UPDATE 4:15pm: Clusterstock’s reporter Julia La Roche found Owen’s FINRA records which shows he was unemployed before the Bank Street Group job Bank Street Group response is at the end of the story. UPDATE 9-26-12:NCPD says the person who called 911 to report shots fired was none other than James Owen. So this Wall Streeter […]
Continue18 Sep
What Bear Stearns Whistleblowers told the SEC: New Details of RMBS Fraud & Cover Up
Remember all those whistleblowers the monolines found in their RMBS fraud litigation against Bear Stearns and JP Morgan? The ones JPM’s lawyers tried to publicly out their names so they’d be afraid to testify in the monoline’s case. Well the bank’s dirty legal tactic didn’t work and newly released whistleblower testimony from people who worked […]
Continue17 Sep
NIR Group Investors Scream Valuation Fraud after Report of 97% Loss on Investments
Investors in a troubled hedge fund founded by Corey Ribotsky were told by the funds’ liquidator last week their hopes of recovering any real money was slim. I reported on the 97 percent drop in valuation for Growth Capitalist today in a story that details how main street investors who gave their pension money to […]
Continue12 Sep
Ridgefield Bank wins Auction of Ruth Jones New Canaan McMansion: Forcing Vacate
UPDATE 9-13-12:Prices paid at auction by the banks on Jones six properties are at the end of the story New Canaan’s queen of McMansion sales is being forced by local bankers at Ridgefield Bank to vacate her home of sixteen years. The Connecticut District Court judge denied Ruth Jones appeal for a stay yesterday so […]
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