NIR Group is offering sweet deals to third party funds who will convert their PIPE notes for them. I reported on one of the firesale deals this week for DealFlow Media and am still left wondering why NIR is asking for so little money down. To read the details of the deal, based on transaction […]
Continue17 Oct
Occupy Wall Street’s New Bank Under FDIC Enforcement Action
Occupy Wall Street has deposited donated funds in New York-based Amalgamated Bank but the FDIC has a bulls eye on the bank’s executives. At the end of August the federal regulator issued a scathing enforcement action calling for a third party review of the banks management and issuing a directive for the bank to lower […]
Continue10 Oct
FDIC calls USA Bank Borrowers in to Testify Against DeCaro
It looks like the FDIC is finally building a case against the DeCaros for their role in the failure of USA Bank. Borrowers who spoke out in my DealFlow stories about alleged lending abuse and forged mortgage documents were subpoenaed by the FDIC two weeks ago. Ron Scheckter, James Scheckter, and Maurizio Carusone have all […]
Continue5 Oct
NIR Group Investors say Ribotsky Commited More Fraud during Reorganization
Corey Ribotsky was charged by the SEC for misappropriation of assets in his NIR Group hedge funds but DealFlow Media is reporting the alleged fraud doesn’t stop there. Investors are now being told by PricewaterhouseCoopers, the fund’s court appointed liquidator, Ribotsky never signed the legal document that assigned collateral rights from the old AJW Master […]
Continue28 Sep
SEC Charges NIR Group Ribotsky with Massive Fraud Scheme
NIR Group founder Corey Ribotsky was finally charged with creating a scheme to defraud investors in his hedge funds. Today the SEC filed a 34-page lawsuit detailing how Ribotsky lied to investors in 2008 about the value of the assets when he could not meet redemption request. The federal regulator, who DealFlow Media has been […]
Continue16 Sep
Wells Fargo Suit against JP Morgan Highlights Rampant Missreps in Bear Stearns RMBS
Wells Fargo is fighting back for investors in a toxic 2007 Bear Stearns mortgage security. On Wednesday, the bank acting on behalf of investors as the trustee of the security, filed a breach of representations suit against J.P. Morgan and its subsidy EMC. The suit is over $560 million of loans investors believe should be […]
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