White Collar

  • July 27, 2011

    Citibank Tries To Sink $430M Madoff Clawback Suit

    Citibank NA on Tuesday in New York denounced a $430 million lawsuit against it from the trustee liquidating Bernard L. Madoff’s firm, saying it had no reason to suspect Madoff was running a massive Ponzi scheme.

  • July 26, 2011

    Calif. City Doesn't Have To Cover Ex-Official's Fees

    A California state judge nixed a motion Tuesday to have the city of Bell pay its former city manager's legal costs related to civil and criminal allegations that he funneled millions of taxpayer dollars to pay himself and others exorbitant salaries.

  • July 26, 2011

    US Airs Disgraced Pol's Calls In Hospital Bribe Trial

    Prosecutors in the New York federal trial of ex-MediSys Health Network CEO David P. Rosen on Tuesday played tapes of former legislator Anthony Seminerio trying to coax a state health official into facilitating a MediSys merger while he was allegedly taking bribes from Rosen.

  • July 26, 2011

    Blagojevich Seeks 3rd Trial After 17-Count Conviction

    Former Ill. Gov. Rod Blagojevich's attorneys told a federal judge Monday that their client needed another retrial following his convictions on corruption charges last month, alleging the most recent trial was riddled with errors and stacked in the government's favor.

  • July 26, 2011

    Feds Seek Long Sentence For Trustee in Fraud Case

    Federal prosecutors urged a court Monday to send longtime Florida bankruptcy trustee Marika Tolz to prison for more than 15 years for misappropriating more than $16 million from cases she oversaw and losing — or possibly pocketing — at least $2.4 million.

  • July 26, 2011

    5th Circ. Affirms Conviction Of Ex-First Fidelity CEO

    The Fifth Circuit on Monday affirmed a judgment against the former CEO of now-bankrupt First Fidelity Acceptance Corp., who was sentenced to 10 years in prison and $15.2 million in restitution for allegedly bilking investors in an automobile loan scheme.

  • July 26, 2011

    Rothstein Trustee Sues TD Bank Over Ponzi Losses

    The Chapter 11 trustee overseeing Rothstein Rosenfeldt Adler PA's liquidation hit TD Bank NA with an adversary suit in Florida bankruptcy court Monday, accusing it of helping Scott Rothstein carry out his $1.2 billion Ponzi scheme at the law firm.

  • July 26, 2011

    JFTC Raids Bearings Cos. Over Antitrust Worries

    Japan's antitrust watchdog raided four companies that make industrial bearings Tuesday amid suspicions that the manufacturers may have violated the country's anti-monopoly law.

  • July 26, 2011

    Ex-Capitol Staffer Asks For No Jail In Lobbying Scandal

    A former congressional staffer ensnared in the Jack Abramoff fraud scandal urged a Washington federal judge on Monday to spare him a jail sentence for accepting a World Series ticket from a lobbyist.

  • July 26, 2011

    Sky Capital Defendants Convicted In $140M Fraud Case

    A New York jury on Tuesday convicted the founder of Sky Capital LLC and a former Sky broker of four fraud-related counts for their role in what prosecutors say was a $140 million scheme to swindle investors.

  • July 26, 2011

    UniCredit Fights Madoff Trustee's Racketeering Claims

    Racketeering claims against UniCredit SpA — part of the Bernard L. Madoff fraud recovery trustee's $59 billion suit against financier Sonja Kohn — are barred by U.S. Supreme Court precedent in Morrison, the Milan-based bank argued Monday in New York.

  • July 26, 2011

    Lawmakers Vow To Redraft Anti-Corruption Bill

    Federal lawmakers conceded Tuesday that they needed to tighten up proposed anti-corruption legislation that would ban secret self-dealing by public officials after the U.S. Supreme Court struck down part of the existing law last year.

  • July 26, 2011

    GAO Suggests Whistleblower Protection For Antitrust Law

    The U.S. Government Accountability Office recommended Monday that Congress consider adding whistleblower protections to its Antitrust Criminal Penalties Enforcement and Reform Act, which provides leniency to guilty parties who report criminal cartels and cooperate with civil claimants.

  • July 26, 2011

    Ex-Wachovia Broker Gets 6 1/2 Years For $8.4M Scam

    A federal judge in North Carolina sentenced a former Wachovia Securities LLC financial adviser on Friday to more than six years in prison and ordered him to repay parent company Wells Fargo Bank NA $8.4 million he stole from customers.

  • July 25, 2011

    Ex-Credit Suisse Broker's $1B Fraud Case Sent To Brooklyn

    Former Credit Suisse Group AG broker on Monday won the transfer of a wire fraud case from Manhattan to Brooklyn, where he will face the same judge who sentenced him to prison for allegedly swindling $1.1 billion from investors in a separate case in 2009.

  • July 25, 2011

    Ex-La. Lawmaker Found Guilty Of Racketeering

    A federal jury on Monday reportedly found a former Louisiana lawmaker guilty of one count of racketeering in connection with political operative Mose Jefferson's alleged misuse of more than $1 million in federal and state grant money.

  • July 25, 2011

    Fugitive REIT Founder Gets 17 Years For $2M Fraud

    A Texas federal judge on Friday sentenced the fugitive founder of Golden Gate Real Estate Investment Trust to more than 17 years in prison for using $2 million of fraudulently raised investor money for himself.

  • July 25, 2011

    Ala. Sen. Blocks Damaging Testimony In Gambling Case

    An Alabama state senator accused of taking bribes in connection with pro-gambling legislation succeeded Friday in excluding the potentially damaging trial testimony of former Gov. Bob Riley’s chief of staff.

  • July 25, 2011

    Defendants Deserve Effective Counsel: ABA To High Court

    The American Bar Association on Friday told the U.S. Supreme Court that defendants should have the right to effective counsel, siding with two men who were convicted and received greater sentences than were initially offered in plea agreements.

  • July 25, 2011

    Obama Lays Out New Offensive Against Overseas Cartels

    The White House on Monday unveiled a far-reaching strategy to target increasingly complex international crime rings, some of which are allegedly behind major recent cases of securities fraud, health care fraud, intellectual property theft, computer hacking and foreign corruption.