Investors in DBSI Inc. are only now getting a clear idea of what was going on at the Idaho-based commercial real estate investment company. There was little indication to investors that financial issues existed at DBSI until a notice they received six weeks prior to the company filing for Chapter 11 bankruptcy proceedings. However, problems […]
Scott Rothstein, partner of South Florida law firm Rothstein Rosenfeldt Adler, has found himself at the center of an FBI investigation. The Bureau is alleging that Rothstein may be the linchpin of an investment scam that could top $1 billion. Rothstein, who is out of town at an undisclosed location, is not yet being charged […]
The St. Petersburg Times has reported today that a Florida government agency is the subject of a Securities and Exchange Commission (SEC) fraud investigation. The Florida State Board of Administration (FSBA), an agency charged with managing over $100 billion in public investments including that of local governments and one million current and future retirees, is […]
The Securities and Exchange Commission today announced that Bernard Madoff’s auditors have agreed not to contest the SEC’s charges that they enabled Madoff’s fraud by falsely stating they audited the convicted fraudster’s financial statements in accordance with the relevant accounting and auditing standards. On November 3, 2009, the SEC submitted to the Honorable Judge Louis […]
Though taxpayer money has thus far kept embattled financial institution CIT Group, Inc. alive, the government is faced with the reality that it has made a bad investment. The company has finally filed for bankruptcy after unsuccessfully attempting to generate capital from the government, and generating capital from individual investors. The reality that the government […]