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(Alleged) Frauds, Fakes and Ponzis – By Adam Hirsch

A Financial Poise column dedicated to exploring the who, what, where, when, why and how of fraud litigation.

It's never RICO!

It’s Never RICO! What this Column Presupposes is, Maybe Sometimes it is

If you type the phrase “It’s never RICO” into Google, you’ll get a bunch of hits, including this clever and interesting discussion. The Google image search returns “House, M.D.” memes. I would beg you, dear reader, not to Google “RICO Trump”. It’s a rabbit hole where you will see all sorts of nonsense about alleged forthcoming sealed indictments […]


Theranos

Theranos Revisited

Theranos made headlines for the alleged failure of its signature blood test – and for civil and criminal suits from its stockholders.


Fraud claim, discovery rule legal

Bringing a Fraud Claim: Is Time on Your Side?

The statute of limitations on your fraud claim may depend on when you knew (or learned) about the fraud. When did you know? If you are an (alleged) victim of fraud, you are going to be asked this question. If your lawyer is smart, she’ll ask this question very early on.


The Real Story of an NFL Lawsuit

UPON FURTHER REVIEW: Real Story of an NFL Lawsuit

It was 4:00 AM when the police convoy rolled up on Country Crossing, a new electronic bingo house in Alabama. No fewer than 135 state police cars cascaded into the rural compound. In the aftermath, a group of NFL players—including big names like Ray Lewis and Fred Taylor—lost tens of millions of dollars.


Can You Agree to Be Defrauded?

Can you agree to be defrauded? This may sound like an odd question. But, in this space showed before, the law of business fraud can lead us into some odd places. It is no spoiler to say that the answer is “yes.” You can actually agree to be defrauded. Many courts, including Illinois (where I practice), […]


Affinity Fraud: When Scammers Prey on Victims’ Identities

Affinity fraud presents a different dynamic from consumer fraud or business fraud. Affinity fraudsters prey on their victims’ religious, cultural and ethnic identities. Their breach of trust is more severe, more personal.


When Victims of Fraud Are in Denial

How would you react to being defrauded? Can you picture your hypothetical home movie in your head? Does it involve slamming papers on a table and storming out of a room? Are you pointing your finger and yelling “You’ll be hearing from my lawyer?” We’d like to think we’d be outraged, that the morality would be clear, and that the path to justice would be straight and obvious.


Reasonable Reliance: From a Punchline to a Legal Defense

The reasonable reliance defense involves the defendant arguing that everything he said to the plaintiff was worthless, and that the plaintiff was out of his mind if he took any of the defendants’ representations seriously.


Massive Failure Equals Massive Litigation? Maybe, Maybe Not

Plaintiffs’ lawyers are, by reputation, aggressive. They have sued over things as small as mis-charged non-residential delivery fees and over things as large as Volkswagen’s use of “defeat device” software to (allegedly) cheat emissions standards. Whether small or large, class-action cases against corporations tend to get filed fast.


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