Due Diligence by Gary M. Lawrence

tag:blogger.com,1999:blog-44282735760158580552012-01-21T15:41:20.818-08:00Due Diligence by Gary M. LawrenceNews and commentary from the author of "Due Diligence in Business Transactions" and co-author of "Representing High Tech Companies"garymlawrencehttp://www.blogger.com/profile/11458495702065769073noreply@blogger.comBlogger111100tag:blogger.com,1999:blog-4428273576015858055.post-29881326009923961062010-12-06T06:12:00.000-08:002010-12-06T06:34:15.838-08:00

HSBC Sued for $9 Billion Over Due Diligence Failure to Heed Red Flag Warnings of Fraud "Dec. 6 (Bloomberg) -- HSBC Holdings Plc, Europe’s biggest lender, was sued for $9 billion over claims it aided Bernard Madoff’s fraud through a network of feeder funds in Europe, the Caribbean and Central America.Irving H. Picard, trustee for the liquidation of Bernard L. Madoff Investment Securities LLC, sued

garymlawrencehttp://www.blogger.com/profile/11458495702065769073noreply@blogger.com1tag:blogger.com,1999:blog-4428273576015858055.post-78617272645562018152010-12-04T13:03:00.001-08:002010-12-04T13:03:58.235-08:00

JPMorgan Sued for $6.4 Billion in Due Diligence Related ClaimsThe trustee in charge of recovering the Madoff funds is suing JPMorgan for $6.4 billion, charging that the bank played along with the Ponzi scheme that cost victims billions, reports the Guardian. Irving Picard filed suit in New York yesterday, hoping to claw back some of the vast sums lost via financier Bernard Madoff's machinations.

garymlawrencehttp://www.blogger.com/profile/11458495702065769073noreply@blogger.com0tag:blogger.com,1999:blog-4428273576015858055.post-6415301029535471832010-06-30T10:16:00.000-07:002010-06-30T10:18:26.533-07:00Hedge Fund Accused Of Due Diligence Failure

"New York-based asset management firm ThinkStrategy Capital Management has been sued by one investor family for failing to do proper due diligence.The firm’s TS Multi-Strategy Class A LP fund lost money in alleged Florida hedge fund fraudster Arthur Nadel’s Ponzi scheme. Investors Benjamin, Christina and Daniel Schwarz—who placed $2.7 million with the TS fund—filed a lawsuit in November in New

garymlawrencehttp://www.blogger.com/profile/11458495702065769073noreply@blogger.com1tag:blogger.com,1999:blog-4428273576015858055.post-12540812372880116512010-02-02T13:24:00.000-08:002010-02-02T13:31:22.200-08:00

In Latest Investment Due Diligence Case, Attorney Scott Rothstein Pleads Guilty to Ponzi Scheme ChargesIn a case involving numerous allegations including failed or inadequate investment due diligence by investors and advisors, disbarred Florida attorney Scott Rothstein has pled guilty. Rothstein, 47, faces up to 100 years in prison on charges of racketeering, fraud and money laundering.Rothstein

garymlawrencehttp://www.blogger.com/profile/11458495702065769073noreply@blogger.com0tag:blogger.com,1999:blog-4428273576015858055.post-46753768518534101942010-01-20T05:57:00.000-08:002010-01-20T06:01:39.571-08:00Refco Legal Counsel Sentenced

NEW YORK -(Dow Jones)- A longtime lawyer for Refco Inc. was convicted of conspiracy and fraud charges Friday in a scheme to help owners and executives at the defunct commodities broker steal more than $2 billion by concealing its financial troubles.After days of deliberations, a jury of seven women and five men delivered a partial verdict, finding Joseph P. Collins, a one-time Mayer Brown LLP

garymlawrencehttp://www.blogger.com/profile/11458495702065769073noreply@blogger.com0tag:blogger.com,1999:blog-4428273576015858055.post-60049015689676053612009-11-19T08:47:00.000-08:002009-11-19T08:49:32.929-08:00Preparing for Financial Due Diligence

Small Business Financingby Christine Comaford, author of the best-selling book Rules for Renegades.Follow this checklist to get ready for and get through the final and most tedious step in a successful financing dealThere are three areas of financial due diligence. The first is an explanation of how you plan to use the funds. The second is an explanation of your business model/budgets. The third

garymlawrencehttp://www.blogger.com/profile/11458495702065769073noreply@blogger.com0tag:blogger.com,1999:blog-4428273576015858055.post-46381354915882050462009-11-14T10:56:00.000-08:002009-11-14T11:06:45.127-08:00Due Diligence Failure in Alleged Rothstein Ponzi Scheme

A few years back when researching a story on one of the largest frauds in South Florida history, we found ourselves driving around Fort Lauderdale. The strip malls, chain stores, and endless expanse of freeways reminded us of New Jersey with palm trees.Given New Jersey's own dubious history of corruption, it's little surprise that we heard some FBI agents refer to the city just north of Miami as

garymlawrencehttp://www.blogger.com/profile/11458495702065769073noreply@blogger.com0tag:blogger.com,1999:blog-4428273576015858055.post-87440922322587284682009-11-11T14:10:00.000-08:002009-11-11T14:13:03.166-08:00

The Lost Art of Due DiligenceThe recent arrests of several major investment managers such as R. Allen Stanford, Arthur Nadel, partners Paul Greenwood and Stephen Walsh, and the conviction and sentencing of Bernard Madoff have proved unsettling. In the Bernie Madoff scandal, even presumably astute and wealthy investors can be victims of fraud on a massive scale. One is left with the impression

garymlawrencehttp://www.blogger.com/profile/11458495702065769073noreply@blogger.com0tag:blogger.com,1999:blog-4428273576015858055.post-43354991024450563962009-11-03T09:24:00.000-08:002009-11-03T09:28:00.284-08:00Defining the Role and Liability of Due Dililgence Advisors

Before you let your team of due diligence advisers loose in the data room, it’s crucial to reach an agreement about each adviser’s role and responsibilities. Accountants, banks, and other M&A advisers recognize their success depends on their ability to deliver reliable, incisive analysis of a target’s business operations and future prospects. On the other hand, advisers also have an interest in

garymlawrencehttp://www.blogger.com/profile/11458495702065769073noreply@blogger.com0tag:blogger.com,1999:blog-4428273576015858055.post-2293567331489281512009-10-26T10:29:00.000-07:002009-10-26T10:34:20.043-07:00

DUE DILIGENCEIN BUSINESS TRANSACTIONSReviewed by Robert W. Wood • San FranciscoI doubt that most lawyers, accountants orbusinesspeople regard “due diligence” asan enthralling topic. I know I don’t. Yet,the recent two-volume book by Gary M.Lawrence, DUE DILIGENCE IN BUSINESSTRANSACTIONS, published by Law JournalPress, is an impressive piece of work that Ididn’t find boring at all. Part of the

garymlawrencehttp://www.blogger.com/profile/11458495702065769073noreply@blogger.com0tag:blogger.com,1999:blog-4428273576015858055.post-27893057072388207502009-10-06T08:32:00.000-07:002009-10-06T08:35:18.999-07:00

SEC ALLEGES FAILURE OF DUE DILIGENCE BY INVESTMENT ADVISOR Litigation Release No. 21223 / September 28, 2009SEC v. Frank Bluestein, Civil Action No. 2:09-CV-13809 (E.D. Mich.) (Friedman, J.)The Securities and Exchange Commission today charged Detroit-area stock broker Frank Bluestein with fraud, alleging that he lured elderly investors into refinancing the mortgages on their homes in order to

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