Fashion Designer Ralph Rucci is having a serious cash flow problem. According to people familiar with the company Rucci has met with a bankruptcy lawyer in the last few weeks and is $6.4 million in debt with about 150 creditors breathing down his neck. He cut his 15,000 sq ft New York showroom down to […]
Continue3 Feb
NIR’s Ribotsky Pigged Out on Fees while Investor Cash was Frozen
NIR Group’s court appointed liquidators, PricewaterhouseCoopers, have discovered Corey Ribotsky pigged out on fees while hundreds of mom and pop investors had their pension investments frozen. I reported this week for Long Island Business News, Ribotsky’s hometown paper, that the alleged hedgie fraudster is set to reap a whopping $52 million in fees. On top […]
Continue19 Jan
JP Morgan Attempts to Scare Whistleblowers Testifying Against Bear Mortgage Traders
JP Morgan’s lawyers are once again using intimidation tactics to scare whistleblowers in the Bear Stearns mortgage fraud machine lawsuits. Lawyers at Greenberg Traurig LP filed a public letter two days ago with Judge Crotty/Judge Ramos in New York State Supreme Court outing the name of a confidential whistleblower Ambac, Syncora & Assured Guarantee has […]
Continue15 Jan
SEC adds Metter’s Greenwich Radio Station as Defendant in Spongetech Fraud Suit
The SEC is playing tough with alleged penny stock scammer Michael Metter and his Business TalkRadio Network. The Securities and Exchange Commission filed court documents Thursday adding the radio business, which includes Greenwich station WGCH, as a relief defendant in the fraud case against Meter and his pump and dump stock Spongetech. The federal regulator […]
Continue14 Jan
Now Main Street Knows how Bear’s Jeff Verschleiser made Millions off Cheating Others
One of the central bad actors in my reporting on the alleged fraud machine Bear Stearns mortgage department was running made headlines this weekend for spending an absurd amount of greenbacks to promote his daughter’s coming of age. Jeff Verschleiser, age 43, and his wife Amy, age 41, went and bought out a popular Aspen […]
Continue22 Dec
SEC Gets Spongetech fraudster to pay $1.3 million
The SEC scored its first victory in their case against the penny stock scam at Spongetech. Last spring Greenwich radio station owner (WGCH) Michael Metter and his pal from Queens, Steven Moskowitz, were arrested at their homes by the FBI for interfering in a SEC investigation and slew of investor fraud claims. The SEC sued […]
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