Investors who bought billions of residential mortgage securities from Bear Stearns have woken up to the fraud machine I’ve been reporting on at Bear and EMC all year. On Friday, a Texas legal firm made famous for negotiating an $8.5 billion settlement with Bank of America for rmbs investors, made a similar move on JP […]
Continue12 Dec
Why the SEC thinks Falcone was involved with Market Manipulation
The SEC has a bulls eye on Phil Falcone’s Harbinger Capital. On Friday the famed billionaire hedgie was forced to write investors explaining his publically traded Harbinger Group Inc is subject to a Wells Notice. This means the Securities and Exchange Commission, its regulator, has launched an official investigation into how the firm might have […]
Continue5 Dec
Ribotsky out at NIR Group is Only a Rumor
There is a rumor floating around on investorshub that NIR Group founder Corey Ribotsky has resigned from the company. I looked into this on Friday and did not find any evidence to support it. The corporate filings with New York Secretary of State for NIR Group Asset Management still list Ribotsky as the controlling person […]
Continue1 Dec
Greenwich Powerball Trustees Are Starting a Hedge Fund
It looks like the newly minted mega-millionaire Belpointe Boys are getting adventures with all their new found fame. Rop Copeland at AR Magazine pointed out this week they’ve hired a trader with a fancy euro name, Herve van Caloen, to raise money and start a long short international equity fund. Maybe some of those Powerball […]
Continue23 Nov
PwC Says NIR Group Doesn’t Have Access to Dealer Market
NIR Group hasn’t had access to the broker dealer market since February. I reported this nugget of news last week for DealFlow’s The PIPEs Report after investors in the AJW Funds explained this is what court appointed Cayman Islands liquidator, PwC, is now telling them. If NIR founder, Corey Ribotsky, knew clearing firms and broker […]
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