{"id":1928376,"date":"2023-05-10T22:12:23","date_gmt":"2023-05-11T02:12:23","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-judicial-pick-ignored-serious-criminal-allegations-relating-to-largest-ponzi-scheme-in-new-hampshire-history\/"},"modified":"2023-05-10T22:16:31","modified_gmt":"2023-05-11T02:16:31","slug":"biden-judicial-pick-ignored-serious-criminal-allegations-relating-to-largest-ponzi-scheme-in-new-hampshire-history","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-judicial-pick-ignored-serious-criminal-allegations-relating-to-largest-ponzi-scheme-in-new-hampshire-history\/","title":{"rendered":"Biden&#8217;s judicial nominee overlooked major criminal accusations in NH&#8217;s biggest Ponzi scheme."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">24<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fbiden-judicial-pick-ignored-serious-criminal-allegations-relating-to-largest-ponzi-scheme-in-new-hampshire-history%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1928376&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><h2>Michael Delaney&#8217;s Nomination to First Circuit Court of Appeals Under Scrutiny<\/h2>\n<h3>Delaney&#8217;s Failure to Prosecute Perpetrators of Ponzi Scheme<\/h3>\n<p>Michael Delaney, President Joe Biden&#8217;s nominee to the First Circuit Court of Appeals, is facing criticism for his failure to prosecute the perpetrators of the largest Ponzi scheme in New Hampshire&#8217;s history. As attorney general of New Hampshire, Delaney&#8217;s office sat on their hands as the company once known as Financial Resources Mortgage swindled as much as $80 million and <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-judicial-pick-ignored-serious-criminal-allegations-relating-to-largest-ponzi-scheme-in-new-hampshire-history\/\" title=\"Biden's judicial nominee overlooked major criminal accusations in NH's biggest Ponzi scheme.\">left unsuspecting investors broke<\/a>. Critics charge that Delaney\u2019s office failed to heed warnings, something he himself conceded in a 2010 report that describes his office\u2019s &#8220;failure to detect and protect against the fraud inflicted on its citizens.&#8221;<\/p>\n<h3>Accusations of Prosecutorial Negligence Could Derail Confirmation<\/h3>\n<p>Delaney&#8217;s failure to disclose his role in the Ponzi scheme could add another roadblock to his already-bumpy confirmation journey. Senate Democrats have already raised concerns about Delaney\u2019s handling of a <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/virginia-dems-lax-school-crime-bill-under-fire-amid-rape-scandal\/\" title=\"Virginia Dems\u2019 Lax School Crime Bill Under Fire Amid Rape Scandal\">high-profile sexual assault case<\/a>, in which he publicly identified an underage victim. And earlier this month, left-wing activists groups attacked Delaney for serving on the board of a Boston-based free-market advocacy group. A vote on Delaney\u2019s nomination is scheduled for Thursday, and Sen. Dianne Feinstein (D., Calif.), who returned to Washington, D.C., on Tuesday evening after a months-long leave of absence due to shingles, could give Delaney the vote he needs to clear the Judiciary Committee and make it to a full Senate vote.<\/p>\n<h3>Financial Resources Mortgage&#8217;s Illegal Practices<\/h3>\n<p>Financial Resources Mortgage was ostensibly a mortgage broker that matched borrowers with poor credit to private lenders. In reality, the firm was shuffling money between its clients. At the time of its collapse, it had $670,000 in checks prepared to go out but &#8220;zero in the bank account,&#8221; according to the federal bankruptcy trustee appointed to dig through the firm\u2019s wreckage. The firm was helmed by Scott Farah, who was ultimately prosecuted by the Justice Department and pled guilty in 2010 to <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/atlanta-mayoral-candidate-who-voted-to-defund-the-police-has-car-stolen-in-broad-daylight-by-children-reports\/\" title=\"Atlanta Mayoral Candidate Who Voted To Defund The Police Has Car Stolen In Broad Daylight \u2014 By Children: Reports\">federal fraud charges<\/a>. He was sentenced to 15 years in prison.<\/p>\n<h3>Delaney&#8217;s Motivations for Failure to Prosecute Unclear<\/h3>\n<p>A book by former New Hampshire state securities regulator Mark Connolly, Cover Up, catalogs Delaney\u2019s negligence and that of other <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/andrew-cuomo-must-return-5-1-million-book-profits-ny-ethics-body-rules\/\" title=\"Andrew Cuomo Must Return .1 Million Book Profits, NY Ethics Body Rules\">senior state officials<\/a>. The book received wide acclaim at the time of its publication in 2011, including from Harry Markopolos, one of the whistleblowers who helped land notorious fraudster Bernie Madoff in prison, who said Connolly &#8220;stood up for victims while others didn\u2019t.&#8221; Connolly alleges that Delaney ignored warning signs about Financial Resources Mortgage&#8217;s illegal practices and declined to prosecute the firm in order to spare state Democrats further embarrassment.<\/p>\n<h3>Victims Still Struggling<\/h3>\n<p>A $10 million state-run Financial Resource Mortgage victims&#8217; fund paid out money as recently as January. Among those who received a check was a man working as a line cook and a Republican state representative who says he lost $2 million in the scheme. &#8220;We\u2019ll get about $190,000,&#8221; the lawmaker, Harry Bean, told a local New Hampshire publication in January. &#8220;That\u2019s about 10 cents on the dollar. I\u2019m too tired to fight. This has taken my whole life away since 2008.&#8221;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>President Joe Biden&#8217;s nominee to the First Circuit Court of Appeals, Michael Delaney, says on his Senate disclosure that, as attorney general of New Hampshire, he fought in 2012 to secure a $25 billion settlement for victims of &#8220;mortgage loan servicing and foreclosure abuses.&#8221; But he makes no mention of his decision three years earlier<\/p>\n","protected":false},"author":197,"featured_media":1928377,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[544],"tags":[8710,8460,3706,3977,15650,3752,26395,4904,15151,9073,8020],"class_list":["post-1928376","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-free-beacon","tag-biggest","tag-accusations","tag-bidens","tag-criminal","tag-judicial","tag-major","tag-nhs","tag-nominee","tag-overlooked","tag-ponzi","tag-scheme"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1928376","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/197"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1928376"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1928376\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1928377"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1928376"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1928376"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1928376"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}