Santa Ana Federal Judge Seeks August 2015 Trial on $5 Bil Suit Against Standard & Poor's

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Photo by flickr user Brook Ward
Watch for falling assets.

Hey, remember that worldwide economic collapse of 2008? My, how time flies when you're watching your 401k vaporize. Well, the litigating over those blamed for helping cause the free-fall is not over, as evidenced by a case in U.S. District Court Judge David O. Carter's courtroom, where the U.S. Justice Department is suing the Standard & Poor's credit rating system for $5 billion.

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Donald Keith Goff Cops to Scams That Cost SBA and Financiers of Gas Station Loans Millions

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Photo by flickr user Thomas Hawk
Welcome to you know where.

A Laguna Niguel businessman who took a bank, the Small Business Administration and the financier of a Fountain Valley gas station for millions and millions of dollars recently copped to multiple fraud counts in federal court and now faces up to 70 years in prison.

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Daniel Gilbert Becerril II Gets 15 Years for Defrauding 2 Clients and Slaying One of Them

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AP Financial
Daniel Gilbert Becerril II defrauded two of his AP Financial clients and slayed one of them.

An Orange County financial consultant--who had been held for the murder of an artist/Russian immigrant/Los Angeles school teacher as part of a complex theft and money laundering scheme--pleaded no contest to voluntary manslaughter and other counts last week and was sentenced Wednesday to 15 years in state prison.

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David Rose Cops to Stinging Doctors for $2.3 Million in Phony Medical Tech Investments

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Courtesy of the FBI
This Sea Ray boat worth $80,000 was among David Rose's luxuries seized by the feds.

An investment professional who stung physicians, dentists and orthodontists for more than $2 million--and spent the money he received on a Cota de Caza home, college tuition, luxury cars, shares in the Green Bay Packers and the $80,000 boat shown above, cut a plea deal with federal prosecutors this week.

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Igor Olenicoff Ordered to Pay Artist $450k for Chinese Knock-offs of His Original Sculptures

Categories: Cha-Ching!, Court

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Untitled by Don Wakefield and
Joseph "Chick" Glickman
Is it the original or a Chinese rip-off? (Answer: original.)
The fifth richest man in Orange County (yes, the top five are all men) and 184th richest person in the country (per Forbes in 2013) has been ordered to pay a sculptor $450,000 because instead of paying the full price for an original piece of artwork, the billionaire had a Chinese artist make a copy.

Igor Olenicoff, who previously found himself in the headlines for shielding $200 million of his fortune from the IRS, had placed the ripped-off version of Monrovia artist Don Wakefield's piece, in front of the Laguna Beach developer's Olen Properties office in Newport Beach. Wakefield happened to be outside the Olen offices at Seven Corporate Plaza in 2011 when he stumbled upon what he thought was the granite, 6x4-foot sculpture Untitled that he and artist friend Joseph "Chick" Glickman designed and created together in 1992. Having solicited California developers as potential buyers of his work, Wakefield assumed it was an original that the Newport Beach company had purchased from a dealer.


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Hidden Cash-Grab Fever Comes to Orange County

Categories: Cha-Ching!

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Taylor Hamby/OC Weekly
Dig in

The worldwide phenomenon known as Hidden Cash brought a frenzied hunt for free money in the ground unseen in California since the 1850's (or, you know, since last night's money drop in Whitter) to Orange County Friday. Hundreds of modern-day prospectors flocked to the sands of Huntington Beach in search of 30 magical Pez candy dispensers filled with $50 bills, and two Pez box sets with $100. Hidden Cash tweeted out clues to the location of the said dispensers starting at 9 a.m.

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Real Costs of College and University Are Costing California Students Now and Later: Reports

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Universal Pictures
"Christ. Seven years of college down the drain."

It not only takes longer for California students to attain community college degrees in the traditional two years and state university degrees in the normal four years, the system has created "a raft of expensive consequences for students and the state," according to two recent reports.

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Terry Boyd Has Federal Overtime Case Against Bank of America Certified as a Class Action

Categories: Cha-Ching!, Court

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flickr user tjblackwell
You can punch in anytime you like, but you can never leave...

A former Ladera Ranch Bank of America appraiser's lawsuit over overtime pay has been certified as a class-action case by U.S. District Court Judge David O. Carter in Santa Ana, according to an attorney representing the plaintiffs.

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Yorba Linda (x 3), La Habra, Seal Beach, Westminster Make Lists Ranking LA Suburbs

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Photo by Vercillo/Wikipedia Commons
It's now the Land of Gracious Healthy Wealthy Getting Crowded Living!

A financial website ranked Los Angeles suburbs by which perform the best across various economic, social and quality-of-life categories, and Yorba Linda pops up on lists for highest-earning, fastest growth and highest healthcare coverage. Not that Yorba Linda (or any Orange County city) would like to be known as a suburb of LA, but can you guess which of those three lists had The Land of Gracious Living at No. 1?

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Melinda Campano Blames The Economy For Her Stealing $4 Million From Investors

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Melinda Campano rose in the 1980s to become one of the most successful female bankers in her native Philippines and halfway through Ronald Reagan's second term in the White House the businesswoman immigrated to Southern California, where she continued a financial career that earned her as much as $245,000 annually.

But for at least eight years until 2011, Campano secretly used her banking jobs and ethnicity as criminal tools to entice unsuspecting individuals to give her their life savings for secure and profitable investments.

According to the U.S. Department of Justice, Campano tricked people out of $4 million, provided victims documentation falsifying interest, and diverted the money to her real estate development companies as well as to cushion her own life, including shopping sprees for vintage furniture.

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