Fraud
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Three Men Arrested in NJ on Facebook Share Fraud (Forbes) - Federal law enforcement officers with the FBI and IRS-Criminal Investigation arrested three men at their homes this morning on charges they stole approximately $6.7 million from an investor, in part by claiming special access to shares iof Facebook Inc., prior to the company’s initial public offering, New Jersey U.S. Attorney Paul J. Fishman announced.
Fmr BP Engineer Kurt Mix...
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A few things to look for today: Anthony Chiasson (Level Global Investors) is to be sentenced today for insider trading today .... Odds are that he gets close to 10 years. That's a hit! Former Jendens & Gilchrist lawyer Donna Guerin reports to federal prison today to begin serving an 8-year sentence for her role in a large tax frad scheme.
Clarksburg, WV Bank Heist From the Inside (TOPIX) - Deborah D. Radcliff, age 41, of Weston, West Virginia, was named in an eight-count Indictment charging her with one count of embezzlement by a bank employee and...
Three keys logo by Warja Honegger-Lavater. (Photo credit: Wikipedia)
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After 43 Years On Run, Arkansas Asks For Fugitive To Be Returned (WSJ) - For most of his life, Lester Stiggers has lived in Michigan as a fugitive from justice. A native of Little Rock, Arkansas, Mr. Stiggers was 15 years old when he murdered his father with a 12-gauge shotgun. He claimed he “took as much as he could” from his father, whom he described as a closeted gay man who beat and threatened to kill him if he told anyone about his secret. A jury convicted him of first-degree...
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Jeff Skilling May Get Sentenced Reduced to 14 Years (Bloomberg) - Skilling and the US government have come to an agreement that may give the former CEO of Enron a new chance at life on the outside ... in 2017. After years of appeals, Skilling is in a Colorado prison and has never stopped fighting for his freedom. Now the government seems to have backed off a bit ... Skilling is set to be resentenced on June 21.
Bernie Madoff's Boat is For Sale (PonziTracker) - Madoff had purchased the yacht in...
Seal of the U.S. Securities and Exchange Commission. (Photo credit: Wikipedia)
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Insider Trader Sentence of Chiasson Could End in 10 year Sentenced (Reuters) - Federal prosecutors want the co-founder of hedge fund firm Level Global Investors LP to spend as much as 10 years in prison for insider trading in shares of two technology companies. The government said in a Manhattan federal court filing that Anthony Chiasson, who was convicted in December of securities fraud and conspiracy, should spend 97 to 121 months behind bars.
The City of Harrisburg, PA...
The logo of KPMG. (Photo credit: Wikipedia)
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Friend of Ex-KPMG Partner to Plead Guilty (Bloomberg) - The friend of the former KPMG LLP partner in Los Angeles who allegedly provided him with insider information about the auditor’s clients agreed to plead guilty and to pay about $1.3 million in illegal profits. Bryan Shaw, 52, the owner of a San Fernando Valley jewelry store, agreed to admit to one count of conspiracy, according to a statement today from U.S. Attorney Andre Birotte Jr. in Los Angeles. The former KPMG partner, Scott London, 50, was charged last...
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Ross Mandell, Sky Capital, Appeal (Forbes) - I attended the 2nd Circuit appeal hearing of Ross Mandell and Adam Harrington. It was hard to get a feel on how the ruling will go down but my thinking is that part or all of Mandell's conviction will be overturned.
Another Insider Trader Gets Pirson Time (Forbes) - A few floors down from Ross Mandell's appeal (see above) was the sentencing of convicted insider trader Todd Newman (Diamondback Capital). Newman got 54 months, and he's still trying to stay free pending appeal. Probably not going to happen.
Is Steve...
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Heads Up - On May 2 the sentencing of convicted insider trader Todd Newman will take place in Manhattan ... .he's looking at over 6 years. Also in Manhattan, Sky Capital's Ross Mandell is having his appeal heard by the 2nd Circuit. Mandell is out of prison awaiting the outcome of this decision...
English: Concertina razor wire at a prison (Photo credit: Wikipedia)
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Dick Scruggs Heads Back to Prison (DJ Journal) - Former High Profile lawyer Dick Scruggs has been out of prison since December 2012 when he was released pending a ruling on his appeal tht would spring him for good .... except he lost. Today he heads back to federal prison for his "gun lap". He talks prison and lessons learned so far.
Kentucky Banks on Promise of Jobs From Prison (Kentucky.com) - Kentucky is hoping that yet another federal prison will be built in an impoverished part of the...
English: Jon Corzine (Photo credit: Wikipedia)
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Lance Armstrong Accused of Defrauding US in Complaint (Bloomberg) - Lance Armstrong, the former champion cyclist, defrauded the U.S. by using banned substances, the government said in a complaint filed under the False Claims Act that joins a lawsuit brought by his ex-teammate Floyd Landis.
US Alleges Novartis Kickbacks to Pharmacies (WSJ) - Federal prosecutors accused Novartis Pharmaceuticals Corp. of paying kickbacks to get pharmacies to switch kidney-transplant patients from generic drugs to the company's...