Category archive: Fraud

I Want My Money Back: Fraud by Insured Results in Rare Attorney’s Fee Claw-Back Award for Insurance Company

They say fraud doesn’t pay—or, at least they say that about crime.  Anyway, it sure didn’t pay in the case of Protection Strategies, Inc. v. Starr Indem. & Liab. Co., in which the U.S. Court of Appeals for the Fourth Circuit agreed that an insurance company should get its money back from the company it…

Bernie Madoff Strikes Again: the Lasting Consequences of His Ponzi Scheme are Still Being Felt

The “Bernie Madoff Scandal” broke on December 11, 2008, when the FBI arrested the eponymous chairman of Bernard L. Madoff Investment Securities LLC (“BLMIS”), and charged him with one count of securities fraud. He later pled guilty to 11 counts of securities fraud. Seven years later, the effects of his Ponzi scheme, believed to be…

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