Albert Rocha stared at financial papers on his table for a moment then detailed how he, a World War II veteran, invested more than $100,000 in what prosecutors now say was a multi-million dollar Ponzi scheme. More than a decade ago businessman John Heath sat in the 91-year-old’s home and promised him large returns for […]
I couldn’t make this stuff up if I wanted to. H&R Block Inc, the most recognized and certainly the most advertised accounting company in the country; a company that does the taxes for millions of Americans announced that they got their own taxes wrong over the past few years. Block will have to restate results […]
In a classic example of the Markowski Investments/Watchdog on Wall Street echo chamber many of the scams and investment fraud that we have been highlighting and discussing for years have been named by the North American Securities Administrators Association (NASAA) in a list of the most widespread ways investors are likely to be trapped in […]
“He who lives by the crystal ball soon learns to eat ground glass.” Edgar Fielder In another biblical sign of Armageddon, the highest rated television show on CNBC is James Cramer’s Mad Money. This is a program that is suppose to help individuals with their investments, a serious and noble endeavor; in reality, it is […]
Richard Scrushy the ex-CEO of HealthSouth, (aka the man who got away with a $2.7 billion dollar fraud) is being accused of reneging on a deal where he promised a Birmingham, Alabama reporter and a local minister $150,000 to help push jurors to find him innocent. This past June we reported how Scrushy manipulated the […]
In a stunning announcement which will consolidate power on Wall Street, Citigroup, Merrill Lynch, Morgan Stanley, CSFB, UBS Paine Weber, and Goldman Sachs have announced that they are combining their client management divisions (brokerage) under the leadership of Ernst Stavro Blofeld. Blofeld is the ex-CEO of the now defunct SPECTRE organization (Special Executor for Counter […]
I recently was invited to a steak dinner at the local country club by an individual who stated in his invite he was a “Wealth Management Expert (WME)”, “Certified Senior Advisor (CSA)” and “Certified in Long-Term Care (CLTC).” According to the mass-mailed cheaply printed invite, where they misspelled my last name, “I was now afforded […]
H&R Block is in hot water once again. The biggest tax preparer in the United States has been ordered to pay a $62.5 million to settle various class-action law suits that allege they charged mafia-like usurious interest rates on loans to customers awaiting tax returns. The settlement involves about 8 million customers in over 26 […]
“If you would like to beat your broker with a stick press one.” The NASD has finally started an investigation into the infamous Merrill Lynch customer call centers. We warned everybody about these houses of horror five years ago when Merrill the Bull started rounding up all its POOR customers and herded them off to […]
In a painful reality check for victimized investors looking to recoup some of their losses via securities litigation, the U.S. Chamber of Commerce stated that forty percent of institutional investors reap gains as a result of securities fraud litigation, but undiversified small investors recover only TWO CENTS of every dollar lost to fraud. Anjan V. […]