Men in suits lie too
03.27.09
Bloomberg published a good piece on investors
increasingly hiring private investigators to conduct due diligence
on hedge fund owners. The low-rent marketing beloved by bankers
since the 1950s (open New Account -- win free Napkin!) should have
been a clue that suits & ties fit both gentlemen and con men.
Mama was right--appearances count. A reluctant witness once told
me, " I wasn't going to speak about this case, but you look
legitimate-- such a nice suit . . ."
Great assets of Bernie Madoff
03.13.09
Rumblings of massive asset searches
underway worldwide (investors are not waiting for the feds to
conclude work) for accounts linked to the businesses run by Bernie
Madoff.
One question bantered about recently by veteran researchers: does Gramm-Leach-Bliley Act cover business accounts? More specifically, are businesses considered "customers" under the act and thus protected by the sort of tactics once used to find assets hidden by scam artists like Madoff? General counsel for one large firm advised me the act does cover business accounts, but others disagree--off the record. No one wants to be the test case.
One question bantered about recently by veteran researchers: does Gramm-Leach-Bliley Act cover business accounts? More specifically, are businesses considered "customers" under the act and thus protected by the sort of tactics once used to find assets hidden by scam artists like Madoff? General counsel for one large firm advised me the act does cover business accounts, but others disagree--off the record. No one wants to be the test case.
Due diligence pays for Nardizzi client
03.07.09
We received a note from a grateful
client after our due diligence research helped them avoid an
investment last year with Westgate Capital Management. The SEC
released this statement regarding Westgate Capital
Management, LLC and its managing member, James M. Nicholson, who
was arrested by the FBI at his New Jersey home.