Tag:
Promissory Notes
Latest Headlines
Latest Headlines
Bank of America renounces its own testimony in mortgage case
Bank of America ( NYSE: BAC ) was forced into damage control when Linda DeMartini, a team leader in the company's mortgage-litigation management division, testified in New Jersey that it was "routine" for the bank to keep promissory notes even after loans were securitized and sold to investors.
Fortress Investment's Dreier debacle, whose fault?
The Marc Dreier fraud played second fiddle to the Bernard Madoff fraud. But in some ways, it was just as remarkable. How a mid-tier lawyer could dupe so many for so long is a wonder. Turns out that even the Fortress Investment Group--which one would expect to be quite savvy in this area--was snagg
Marc Dreier, the latest to fall from grace
First it was Bernie Madoff, and now it's Marc Dreier. Watching these New York icons fall from grace is a lot to take. Dreier, a prominent lawyer, has been arrested and stands accused of swindling some big-name investors. Prosecutors say $380 million is missing, most of it lost by hedge funds and o
