Annual gross fees earned by the company last year amounted to $24 million.
Second, BKB agreed to forfeit $29.7 million to the United States, which represents gross fees (not profits) that the bank earned on its undeclared accounts between 2002 and 2012.
The legal aid dispute has become more polarised as the MoJ attempts to portray criminal lawyers as overpaid fat cats, and criminal barristers retaliate by pointing out that figures based on gross fees are wildly misleading.
With a combined 2,588 clients generating $2.6 million in gross fees last year, he is one of the firm's biggest producers.
For its efforts, E&Y received gross fees of about $123 million---the amount it's now forking over to the government.
They charge a flat 20% of gross fees generated if you choose to charge for listings, otherwise the product is free.
Like Ether, which launched last year (and charges just 15% or the gross fees generated), this will be a very useful service for certain types of consultants.
DOJ's complaint against Four Oaks states that the bank received "more than $850,000 in gross fees" from processing "more than 9.8 million" transactions with third-party payment processors, who work with payday lenders and others.
Some firms probably feel as though the largest part of their performance presentations are the GIPS required disclosures, as firms have to disclose many items, including a definition of the firm, whether performance is net of fees or gross of fees, and what additional information must be disclosed upon request.
The fact that the funds were reporting their returns with the fees included shouldn't fill the city's public pension holders with confidence that the tendering and monitoring process was very sharp, either — $2.063 billion, gross of fees, is an inflated way of presenting the actual gains of forty million dollars, net of fees.
