Stories told in books and movies are frequently framed by the timeless convention of pitting a hero against a villain. Often, the heroes are epic and the villains particularly monstrous. Even in our daily lives, the stories we tell frequently involve one person doing the right thing and another doing something petty or misguided. But identifying good guys and bad guys in real life is complicated: court documents released this month in connection with investors' lawsuits against the banks that served Ponzi schemer Scott Rothstein don't always make it clear â€“ except with regard to Rothstein himself - who the...
Federal financial regulators are questioning TD Bank about potential Bank Secrecy Act compliance lapses identified in the wake of the conviction of Florida-based Ponzi schemer Scott Rothstein, say sources.
Maybe it's the thing you're supposed to say when you get a new job and have responsibility for a lot of people. Still, it was a good thing to hear from FinCEN's new director in her debut speech at a D.C. money laundering conference.
In the legal wrangling that inevitably follows the collapse of Ponzi schemes, banks often escape liability. But in at least three lawsuits settled against two banks in the past year, financial institutions have been asked to pay up, and substantially.
Two banks linked to a billion-dollar Ponzi scheme will likely face increased scrutiny from law enforcement and federal regulators following depositions last month by the convicted former head of a Florida law firm.