Below is a profile of Ross Intelisano from the Spring 2010 edition of the Brooklyn Law School Magazine BLSLaw Notes. BLSLawNotes The Magazine of Brooklyn Law School | Spring 2010 Alumni Update Ross Intelisano ’94: Fighting Fraud from Bear Stearns to Bernie Madoff and Beyond In 2006, Ross Intelisano made…
Below is a New York Times Piece about Bayou v. Goldman Sachs Goldman Must Pay Some Bayou Losses By LOUISE STORY and GRETCHEN MORGENSON Goldman Sachs has been ordered to pay $20.58 million to creditors of a failed hedge fund to settle claims that the bank helped the fund perpetrate…
Below is the Wall Street Journal piece regarding Bayou v. Goldman Sachs. JUNE 26, 2010 Goldman Told to Pay Bayou Fund Creditors By SUSANNE CRAIG Goldman Sachs Group Inc. was ordered to pay $20.6 million, the largest arbitration award levied against the securities firm, to unsecured creditors of Bayou Group…
Rich & Intelisano, LLP won a $20.5 million arbitration award against Goldman Sachs related to the Bayou hedge fund Ponzi scheme. The award is 100% of the compensatory damages requested. It is the largest arbitration award ever rendered against Goldman and the sixth largest customer arbitration award against any Wall…
A large FINRA arbitration award was recently rendered against Citigroup Inc. (“Citigroup”) for sales practice abuses concerning Citigroup’s selling and marketing of the MAT Five LLC (“MAT Five”). The MAT Five had a $500,000 minimum investment requirement and was promoted to fixed-income investors who were seeking preservation of capital. Citigroup…
One notable development for investors relates to several FINRA arbitration awards recently rendered against UBS Financial Services, Inc. (“UBS”) for sales practice abuses concerning UBS’s selling and marketing of principal protected structured notes issued by Lehman Brothers Holdings, Inc. (“Lehman Brothers”), which are structured investment vehicles that combine a fixed…
Investors who lost $1 billion in the Goldman Sachs structured ABACAS CDO were handed a strategic road map by the SEC when it filed the civil fraud complaint against Goldman on Friday. The alleged misrepresentation to ACA by Goldman that Paulson was long the equity tranches of ABACUS and the…
The investment world is buzzing about the SEC’s fraud allegations against Goldman Sachs for misrepresenting and omitting to disclose Paulson’s role in choosing RMBS securities for the ABACUS CDO and then shorting the same individual RMBS through CDS transactions with Goldman. According to the SEC, “investors in the liabilities of…
The SEC charged Goldman Sachs with defrauding investors of ABACUS 2007-AC1, a synthetic CDO created and sold by Goldman in early 2007 when the subprime world was reeling. Investors in ABACUS ultimately lost $1 billion. The SEC’s civil fraud complaint alleges that Goldman allowed the multi billion dollar hedge fund…
Today, the SEC charged Morgan Keegan & Company, Morgan Asset Management and two employees with fraudulently overstating the value of securities backed by subprime mortgages. These are the first federal government allegations related to the Regions Morgan Keegan bond funds which lost significant value in 2008. The serious charges come…