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Category : Sapient Investigation News

Sapient Investigation News
moneyLender Beware

Lender Beware

Article Posted On - January 5, 2013

 

Specialty lenders adopt forensic background checks to avoid doing business with bad actors

In early 2012, Rajesh Veejay Ansari approached a direct money lender in California for a multi-million dollar loan. He had purchased a hotel out of foreclosure and needed to close the deal in less than a week. Aaron Goldberg also went in search of a specialty lender when he was under pressure to refinance a number of commercial properties. At the time, both men appeared have the necessary bona fides to qualify for large loans; they were successful entrepreneurs who had property to put up as collateral.

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Catching moneyTrip and Fraud

Trip and Fraud

Article Posted On - September 12, 2012

 

Thoroughly investigating high-value insurance claims helps defend against fraud

It was dusk on a Saturday in the spring in 2010 and the courtyard of the Heavenly Acres Apartments in South Whittier, California, was alive with the hum of children playing, mothers chatting and men home from work enjoying a beer in the cool of the evening air.

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Investing Blind

Article Posted On - May 17, 2012

 

Fraud in the ‘Life Settlement’ business underscores need for thorough due diligence

Paula Whitaker, a Texas school teacher-turned entrepreneur, thought she was a savvy investor – not a mark who could fall victim to an investment scam.

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Asset Search from Hell

Article Posted On - December 1, 2011

 

Marc Dreier’s epic fraud looted some $750 million from its corporate victims. Could investigators hunt down the loot before it vanished?

In January 2009, as federal Judge Douglas Eaton pondered bail for super lawyer-turned-master con artist, Marc Stuart Dreier, the scope of Dreier’s swindle and the fascinating lengths he was willing to go to perpetrate it were still coming into focus.

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american-greedDead Money

Dead Money

Article Posted On - October 6, 2011

 

joel_david_salinasAfter hustling NCAA coaches into a $50 million Ponzi scheme, J. David Salinas committed suicide in July rather than face the music

On the morning of July 15, a Coast Guard patrol discovered a despondent J. David Salinas – the legendary Texas youth basketball benefactor turned investment manager – drifting aimlessly on his jet ski in the bay off Galveston. Under investigation by the Securities and Exchange Commission for peddling more than $50 million worth of phony bonds to a Who’s Who of collegiate basketball coaches – including Arizona’s Lute Olsen and Texas Tech’s Billy Gillispie – and wealthy families across the country, Salinas had decided to kill himself.

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AgenciesUnearthed Bribes Doom a Latin American Investment

Unearthed Bribes Doom a Latin American Investment

Article Posted On - July 22, 2011

 

In January 2007, eLandia International’s $20 million acquisition of Latin Node Inc. looked like a great deal. The merger would help the publicly-traded, network solutions provider based in Miami, Florida quickly expand into Latin American markets where it had aspirations of becoming a major Telecom player.

But had eLandia listened more carefully, its executives might have heard a faint ticking sound. It was only after the deal closed that eLandia realized that they taken possession of a time bomb about to explode inside its U.S. corporate headquarters.

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Corporate Con-Artist Targets Small Firms

Article Posted On - June 9, 2011

 

In the pantheon of American financial fraud, Lowell “Bob” Hancher will probably not join Charles Ponzi and Bernie Madoff as men whose names are synonymous with criminal avarice. Hancher’s alleged frauds only managed to siphon off a few million dollars from unsuspecting companies and investors over the past few years.

But the saga of Bob Hancher, a 57-year-old Indiana businessman and former co-owner of Indy and NASCAR racing teams, highlights just how vulnerable professional investors and corporations continue to be to fraud from purportedly respected members of the business community. And how important it is to conduct thorough due diligence prior to every deal.

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