News from Banks Law Office | Blog

If you’ve discovered that your “guaranteed” investment was actually a Ponzi scheme or that your financial advisor lied about where your money was going, the feeling of betrayal is overwhelming. But in Oregon, you have a powerful ally that many other states don’t offer: ORS 59.115. Oregon’s securities laws (often called “Blue Sky Laws”) are…

If you invested in the Prestige Funds and are now facing collection efforts from your bank, you may be more than just a victim of a Ponzi scheme—you may have a legal claim against the financial institutions that financed it. Our firm is currently investigating the role of banks in the Prestige Funds Ponzi scheme.…

For thousands of investors across the United States—many of them retirees seeking stable income—the recent news surrounding Inspired Healthcare Capital (IHC) has been devastating. On February 2, 2026, the Scottsdale-based private equity firm specializing in senior housing filed for Chapter 11 bankruptcy protection in the Northern District of Texas, alongside over 160 affiliated entities. The…

Banks Law Office, along with co-counsel, filed a proposed class action lawsuit regarding a Ponzi scheme perpetrated by Prestige Funds and Paramount Management Group. Prestige Funds raised money from investors purportedly to purchase ATM machines that would be managed and operated by Prestige’s affiliate, Paramount Management Group. Investors were promised handsome profits in exchange. Unfortunately,…

Thomas Paul Madden and Jeremy Tyler Grabow were indicted in January of 2025. The indictment alleges that those individuals perpetrated a Ponzi scheme through the entities Cascade IR and Savitar Systems LLC. Specifically, Madden and Grabow allegedly took more than $23 million from more than 200 investors. Madden and Grabow allegedly told investors that Savitar…

Understanding the Risks of Investing in KBS REIT III For years, non-traded real estate investment trusts (REITs) like KBS REIT III have been marketed as attractive investment opportunities. With promises of steady income and access to high-quality commercial real estate, these vehicles have drawn significant interest from investors seeking diversification and reliable returns. However, many…

Banks Law Office is investigating Brighton Jones, a registered investment advisor based in Washington, for its asset-management fee practices. We believe that Brighton Jones charged its clients excessive asset-management fees by inflating the clients’ assets under management. In particular, when calculating the asset-management fees, Brighton Jones may have included in the “assets under management” assets…

A bank is likely liable to victims of a fraudulent scheme if an employee at the bank provided ordinary banking services (such as opening a bank account) when the employee knew that those services would be used to help a fraudulent scheme. This blog post discusses some cases alleging that banks are liable for aiding…

It Is Virtually Impossible That GWG L-Bond Investors Will Get What They Were Owed As most L-Bond holders know, GWG entered “Chapter 11 bankruptcy” in 2021. That means GWG admitted that it would probably not be able to pay its debts. The bankruptcy allowed GWG to “restructure” its debts to L-Bond holders. As a result,…

Banks Law Office is investigating claims that may potentially be brought on behalf of people who invested in SimTradePro. The Commodity Futures Trading Commission announced a civil enforcement action alleging that SimTradePro Inc. defrauded more than 100 U.S. customers out of at least $2.3 million. SimTrade Pro Inc. allegedly acted as an unregistered commodity trading…