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Trusts Elder Abuse Financial Fraud Undue Influence Incapacity

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Philanthropist and socialite Brooke Astor, 105, passed away in 2007.  Her now 89 year old son (but not Vincent Astor’s son) Anthony Marshall , the court found used undue influence to gain access to and loot her $200 million estate. Underscoring the importance of independent, third party verification of trust assets, withdrawals and transactions especially […]

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Tags: Assisted Living Financial FraudCare giver fraudElder AbuseFinancial FraudIncapacityNursing homePonzi Scheme Fraud ExpertSenior Citizen FraudSenior Citizen VulnerabilitySenior ScamsUndue Influence

Shadow Banking System

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The picture is a diagram of the US Shadow Banking System produced by the New York Fed in 2009/10.  It is important to note, a handful of the largest, most sophisticated American banks, largely in the Federal Reserve district east of the Hudson created and inflated the Shadow Banking system.  Layers two and three contained […]

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Tags: 2008 Financial CrisisAIG Financial Products GroupBailout Too Big to FailCDO'scdsCDS Credit Default SwapsCPFF TAF TALF TLGP TARPCSEFDIC TLGPFederal ReserveGoldman Sachs Collateral Call DisputeILBILCIndustrial loan bankleverageRMBSShadow banking systemStock market

Hedge Funds CDO’s CDS 2007

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FiduciaryALERT™ July 2007 Hedge Funds – Losses, Leverage, Liquidity and Litigation Sub prime mortgages, Collateralized Debt Obligations CDOs, SIVs, ABCP Are all hedge fund investors “on their own”? Or are hedge funds fiduciaries? What is the nature of representations of hedge funds’: advisers, promoters, accountants, consultants, finders, prime brokers, lenders, broker dealers, fund of funds […]

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Brokers Investment Advisers owe fiduciary duty to customers

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Press Release – April 2007 For additional information: Chris McConnell, AIFA (310) 943 – 6509 Court strips Brokers’ “camisole”! The U.S. Court of Appeals for the District of Columbia issues majority opinion in FPA v. SEC. See the link http://pacer.cadc.uscourts.gov/docs/common/opinions/200703/04-1242a.pdf Brokers who charge an asset based fee or a fixed fee also known as a […]

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Pension Protection Act 2006

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Pension Protection Act 2006 Highlights 401k Plan sponsors must effective December 31, 2006:  Broker of record / investment advisers to the plan and the new fiduciary advisers, if any, who provide investment advice to participants will have to acknowledge their fiduciary status in writing All conflicts of interest held by the above and or affiliates […]

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