The 20-year Greenwich Capital executive, James Glover, who pled guilty to an embezzlement scheme against Royal Bank of Scotland this month, is likely to see his ski resort real estate project blow up in smoke. An over built luxury ski mansion is allegedly the driving factor that pushed Glover to steal from RBS when he […]
Continue15 Jun
SEC Wakes Up to NIR Group’s role in toxic Norma CDO
The new and improved Securities and Exchange Commission has finally decided to investigate the role of collateral managers who helped banks like Merrill Lynch sell CDOs designed to fail. Their first target is a Long Island hedge fund manager, Corey Ribotsky of N.I.R. Group. Kara Scannell of the Financial Times was first to report on […]
Continue5 Jun
Greenwich Capital’s James Glover admits to stealing from RBS
This story was originally published at Greenwich Time last year. James Glover finally plead guilty on June 1st to one count of interstate transportation of money obtained by fraud stemming from an embezzlement scheme. The Department of Justice said he stole $625,000 from January 09-10 but lucky for RBS he gave it all back (a […]
Continue30 May
Former Bank President was Afraid to Whistleblow on USA Bank’s DeCaro
Greenwich bankers, from once publicly traded USA Bank, are under criminal investigation for their role in lending abuse and possible securities violations. I detailed in an investigative report last week at Dealflow’s The Distressed Debt Report how Fred DeCaro Jr. and his son were allegedly allowed to violate the business plan that earned them a […]
Continue6 May
SEC Thinks Bear Stearns Mortgage Traders Need Investigating
It appears the Securtities and Exchange Commission has been reading my reporting on Bear Stearns mortgage traders cheating their clients out of bilions and double dipping on profits. Today, Jody Shenn at Bloomberg reports he’s heard J.P. Morgan received subpoenas asking for information on how Bear Stearns mortgage team sold back failed loans to mortgage […]
Continue5 May
NIR Group Investors Voting to Oust KPMG as Fund Liquidator
The battle to oust hedge fund manager Corey Ribotsky continues in face of a loss to view details of the fund’s PIPE investments and valuation methods. An important investor lawsuit was dismissed by a New York state appellate court last week, which placed a hard stop on existing court orders granted to NIR investor, Steven […]
Continue26 Apr
Hedge Fund Pot Farmer Pleads Guilty
UPDATE 6.6.16: That state of Conn. sentenced Tara Bryson to 8 years in jail, execution suspended after 2 years to serve, with three years probation, according to the clerk’s office in Litchfield County where she plead guilty to 10 counts of animal cruelty on June 3rd. The clerks office also confirmed she was taken to […]
Continue20 Apr
New Stream Executive Pot Farm Charges lead to Guilty Plea
Part of the hedge fund duo who was arrested this summer for growing a year round pot farm in Newtown, Connecticut has pleaded guilty and was sentenced to jail. I first reported in September for Forbes, how Tara Bryson, of Ridgefield-based New Stream Capital, was allegedly cultivating a pot farm in her million dollar mansion […]
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