English: The Seal of the United States Federal Bureau of Investigation. For more information, see here. EspaÃ±ol: El escudo del BurÃ³ Federal de Investigaciones (FBI). Para obtener mÃ¡s informaciÃ³n, vÃ©ase aquÃ (InglÃ©s). (Photo credit: Wikipedia)
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Wire-Tapping Becomes Popular Tool For Feds in White-Collar Crime (Fobres) - Where once reserved for violent and narco-related crime, the use of wiretaps has evolved to become a potent tool in the fledgling battle against white-collar crime. This article examines the history of wiretaps, their foray into white-collar crime prosecutions, and a potentially cloudy future. You may wonder if the Feds are listening .... from the people I know who were prosecuted for insider trading insist that the FBI had listened to far more than hot stock tips.
Bust of Ben Franklin Found In House Keepers Home (The Times Herald) - A former housekeeper who stole a rare 18th Century bust sculpture of Benjamin Franklin from a Main Line client was sentenced to 6 years in federal prison for taking the stolen property out of state.
Pair of 60+ year old Brothers Sentenced In Ponzi Scheme (NBC Southern Cal) - Between 2001 and 2005, a trio of senior citizens defrauded 790 investors out of cash, telling them they would use the funds to purchase and place Ad Toppers, advertisement-displaying video screens mounted on top of ATMs, vending machines and the like, according to federal prosecutors.
Death Sentenced for Chinese Woman in China Ponzi Scheme (PonziTracker) - A Chinese woman who masterminded a $70 million Ponzi scheme has been sentenced to death by a Chinese court - possibly by firing squad. Haiyan Lin, 39, from the Wenzhou province, received the sentence as part of a broader push by Chinese authorities to crack down on the underground lending industry that has found itself awash with cash as part of Chinese stimulus efforts. Haiyan is the latest of several women who have received a death sentence for their role in investment frauds.
Rajat Gupta Has Insider Conviction Case Heard by 2nd Circuit (DealBook) - On Tuesday, a lawyer for Mr. Gupta argued that a federal appeals court should overturn his client’s conviction and grant a new trial because the verdict was tainted by the erroneous admission of that statement and other wiretapped conversations.
Herbalife Hires New Accounting Firm (DealBook) - As a result of KPMG's exit as Herbalife's auditor, the company hired PricewaterhouseCoopers to fill the vacancy. KPMG was forced out as a result of having their lead audit partner being caught in an insider trading scandal. That partner, Scott London, is expected to plead guilty in the upcoming weeks.
Fmr SAC Trader, Mathew Martoma, Says Government Withholding Evidence (WSJ) - In court papers filed late Monday, Richard Strassberg, a lawyer for Mathew Martoma, said prosecutors have only provided specifics about a limited time period of alleged insider trading by his client and others—before the drug trial results were announced in July 2008—but was alleging he was part of a conspiracy stretching back to late 2006.
Pilot CEO Pleads With Customers "Please Don't Sue Sue Us" (WSJ) - Embattled Pilot Flying J Chief Executive Jimmy Haslam III made a personal plea to his trucker customers, urging them on Thursday to work with the truck-stop operator instead of taking it to court.
Law Firms Making Millions From FCPA Fees (Reuters) - The bribery law bogeyman is scaring up a fresh batch of clients. To hear some law firms tell it, the U.S. Foreign Corrupt Practices Act presents a Freddy Krueger-like nightmare for multinational companies. Despite costly probes of Wal-Mart Stores, Avon and others, however, cases are relatively rare and often dubious. In a tight legal market, warnings to the contrary sound more like benign campfire ghost tales.
Will Prosecutors Use Laws Aimed At Organized Crime to Go After Cohen's SAC Capital (WSJ) - Federal prosecutors are considering charging hedge fund SAC Capital Advisors LP as a criminal enterprise through a powerful legal tool used against the Mafia and drug gangs, people familiar with the probe said.