Bradley Birkenfeld, the former UBS banker credited with helping break open Uncle Sam’s investigation into secret untaxed Swiss accounts, is about to be $104 million richer.

The Internal Revenue Service has recommended that Birkenfeld receive that impressive amount after he has now served around two and a half years in federal prison for a fraud conspiracy conviction related to the case.

It’s the largest whistleblower amount ever awarded by the IRS.

Birkenfeld’s insider info helped the IRS collect more than $5 billion in unpaid taxes from foreign banks and nearly 15,000 individuals who used their services to avoid paying U.S. taxes, as well as was a motivator in the Swiss government decision to change its tax treaty with the United States and turn over the names of more than 4,900 U.S. taxpayers who held illegal offshore accounts.

In addition, since the UBS investigation began, more than 35,000 taxpayers have…

Orlando couple wins $3M award from Citigroup, one of largest in recent years

A federal regulatory panel has awarded more than $3 million to an Orlando couple in a case that accused banking giant Citigroup Global Markets Inc. and a former local broker of negligence in getting the couple to invest in ill-fated land deals.

The panel found the Citigroup unit liable for its broker’s actions and said the company must pay $3.1 million in compensatory and punitive damages and other costs, according documents released this week by the Financial Industry Regulatory Authority.

CFTC not part of settlement – pursues own probe of JPM

• Not a part of JPMorgan’s (JPM -0.3%) reportedly nearing settlement with regulators on both sides of the pond over the London Whale incident, the CFTC is pursuing its own probe, reports the WSJ. Feeling its oats thanks to new powers granted to it by Dodd-Frank, the CFTC is zeroing in on aggressive derivatives bets made in early 2012 as traders tried to contend with growing losses in the bank’s credit portfolio.

PHOENIX LIGHT SF LIMITED vs CREDIT SUISSE AG | NYSC – investors are only now becoming aware that, while they thought they were purchasing “mortgaged-backed” securities, in fact they were purchasing non-mortgagedbacked securities

Trusts are unable to foreclose on loans because they cannot prove they own the mortgages, due to the fact that defendants never properly transferred title to the mortgages at the closing of the offerings. Moreover, investors are only now becoming aware that, while they thought they were purchasing “mortgaged-backed” securities, in fact they were purchasing non-mortgagedbacked securities.

Here is the court document:

http://stopforeclosurefraud.com/wp-content/uploads/2013/09/PHOENIX-LIGHT-SF-LIMITED-vs-CREDIT-SUISSE-AG.pdf

No balloons and cake for Wall Street: Larry Summers pulls out of running to be Federal Reserve chairman

WASHINGTON — Former Treasury Secretary Lawrence H. Summers has withdrawn his name from consideration to be the next chairman of the Federal Reserve chairman, President Obama said Sunday.

Merritt v. Mozilo | The … judgments in favor of Bank of America and Lewis are REVERSED… In sum, the Merritts stated a cause of action for conspiracy to commit fraud against Bank of America and Lewis

We conclude that this court lacks jurisdiction to consider the appeal as to Countrywide defendants and that the trial court did not err when it sustained the demurrers of First American and MERS. We also conclude that the trial court erred in sustaining the demurrers of Bank of America and Lewis. Accordingly, the judgments in favor of First American and MERS are affirmed and the judgments in favor of Bank of America and Lewis are reversed.

Here is the court document: http://stopforeclosurefraud.com/wp-content/uploads/2013/09/Merritt-v.-Mozilo-CA6-H037414-Cal.-2013.pdf