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The Investment Fraud Expert Witness

The Investment Fraud Expert Witness

Investment fraud expert witnesses are skilled in financial areas including audit, accounting, and investments. Their expertise also covers fraud detection, fraud determination, and fraud analysis. These skills are called into play when determining whether an investment advisor intentionally deceived an investor. In the headlines, biotech investment advisor G. Steven Burrill settled with the SEC on March 30, 2016, and will pay back $4.8M to investors in Burrill Capital Management in addition to a $1M penalty. SEC.gov states:

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Securities Fraud Expert Witnesses

Securities Fraud Expert Witnesses

Securities fraud experts may consult and testify in cases involving financial crime such as the illegal process of convincing others to make investments in the stock market based on false information. Today, the SEC charged Andrew Caspersen, a Park Hill Group partner, with securities fraud. Caspersen is accused of seeking to defraud institutional investors of $95M and using the bulk of the money for investments in his personal account. The SEC complaint filed in federal district court in Manhattan alleges:

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Securities Fraud Experts & Morgan Stanley $2.6B Penalty

Securities Fraud Experts & Morgan Stanley $2.6B Penalty

Securities fraud expert witnesses may consult and testify on the illegal process of convincing others to make investments in the stock market based on false information. These cases may involve mortgage backed securities, asset backed securities, as well as other types of securities and investments. The Justice Department today announced that Morgan Stanley will pay a $2.6B penalty to resolve claims related to Morgan Stanley’s marketing, sale and issuance of residential mortgage-backed securities. Morgan Stanley acknowledged in writing that it failed to disclose critical information to prospective investors about the quality of the mortgage loans underlying its RMBS and about its due diligence practices. Investors, including federally insured financial institutions, suffered billions of dollars in losses from investing in RMBS issued by Morgan Stanley in 2006 and 2007.

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Appellate Court Rules On Securities Expert Witness Testimony

Appellate Court Rules On Securities Expert Witness Testimony

The U.S. Court of Appeals 2nd Circuit vacated Jesse Litvak’s securities fraud conviction saying the lower court improperly excluded parts of his expert witness’s testimony. Securities expert witness Dr. Ram Willner, a business school professor and former portfolio manager, was hired by the defense to testify on how investment managers operate. However, U.S. District Judge Janet Hall disallowed his testimony. The appellate court found that if the defense team had been able to introduce some of Willner’s testimony, a jury might have acquitted the former Jefferies & Company securities broker and trader.

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Securities Expert Witness Testifies In Nomura Trial

Securities Expert Witness Testifies In Nomura Trial

Securities expert witness Peter Rubinstein testified in the Nomura trial against the Federal Housing Finance Agency. Namura Holdings Inc, a global financial services group based in Asia, says the 2007 US housing market is to blame for the financial crisis in 2008 and not the company’s sale of mortgage backed securities. The Federal Housing Finance Agency has sued 18 financial institutions on behalf of Fannie Mae and Freddie Mac.

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City Of Detroit Bankruptcy Expert Witness

City Of Detroit Bankruptcy Expert Witness

Detroit Judge Steven Rhodes appointed Martha E.M. Kopacz, CMA, CIRA, as his bankruptcy expert witness in the largest municipal bankruptcy case in U.S. history. Rhodes has the authority to approve or reject the city’s restructuring plan following the trial. Kopacz is Senior Managing Director, Phoenix Management Services in Boston and has said she won’t comment until the case is concluded. The trial is scheduled to begin September 2, 2015 and may continue until mid-October.

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Securities Fraud Expert Witnesses & Insider Trading Scam

Securities Fraud Expert Witnesses & Insider Trading Scam

What matters may securities fraud expert witnesses review and consult on? These experts may examine and advise on Ponzi schemes, insider trading, securities offerings, unauthorized trading, churning, and more. Michael Lucarelli, formerly of Lippert/Heilshorn & Associates, was arrested and charged with insider trading on August 26th. He is facing criminal charges by the FBI as well as civil proceedings by the SEC. SEC press release 2014-175 describes the SEC’s investigation and findings.

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Investment Fraud Expert Witnesses

Investment fraud expert witnesses may be called upon to advise and testify regarding asset misappropriations, financial fraud, financial investment strategy, conflicts of interest and more. SEC Press Release 2014-76, April 15, 2014, announces charges against the San Diego investment advisory firm Total Wealth Management and its owner and CEO Jacob Cooper, chief compliance officer, and another employee for misleading investors and breaching their fiduciary duties to clients.

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Banking Expert Witness Testifies In Bank Fraud Case

Banking expert witnesses may consult on administrative banking, bank documents, bank operations, and associated matters. In the news, banking expert William Purcell testified in the case against Stephen Fields, a former bank vice president charged with seven counts of bank fraud.

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Deflation–How Is It Harmful To The Economy?

Deflation–How Is It Harmful To The Economy?

Deflation is the decrease in the general price level. This is opposite of inflation. How could lower price levels be harmful to the economy? This is not immediately intuitive to people who are not economists nor finance experts.

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