White Collar

  • September 11, 2009

    Jury Indicts 3 More In NJ Superfund Kickback Scheme

    A New Jersey grand jury has indicted three men accused of taking part in fraud, bid-rigging and kickback conspiracies for contracts to work on the U.S. Environmental Protection Agency's cleanup operations at two Superfund sites in northern New Jersey.

  • September 11, 2009

    Stanford Security Exec Indicted For Shredding Docs

    A former security executive at Stanford Financial Group has been indicted by a grand jury in Florida on charges he destroyed documents to obstruct a federal probe into the Houston-based firm of Texas financier Robert Allen Stanford.

  • September 8, 2009

    NYC Fund Manager Charged With $45M Ponzi Plot

    New York money manager Philip Barry was arrested Tuesday at his home in Brooklyn, N.Y., for allegedly running a Ponzi scheme that lost more than $45 million of his clients' money.

  • September 8, 2009

    Maywood Ch. 11 Trustee Eyes Deal In NJ Fraud Suit

    The trustee in Maywood Capital Corp.'s Chapter 11 proceedings has proposed a settlement between the real estate company and the New Jersey Bureau of Securities in an effort to resolve claims related to an alleged multimillion-dollar mortgage loan Ponzi scheme.

  • September 8, 2009

    23-Year Sentence Upheld In $8M Credit Scheme Case

    A federal appeals court has upheld a guilty verdict and 23-year prison sentence for a Canadian man over his alleged role in defrauding 40,000 U.S. consumers of $8 million through a telemarketing company that operated a bogus credit recovery business out of Toronto.

  • September 3, 2009

    Former Monster Exec Gets 2 Years, $6.3M Fine

    The former president and chief operating officer of Monster Worldwide Inc. has been handed a two-year prison sentence and a $6.3 million fine following a securities fraud conviction over stock options backdating.

  • September 2, 2009

    US' Asbestos Evidence Barred In San Diego Gas Case

    A federal judge has barred prosecutors from submitting any of the 27 samples of asbestos-containing material they proposed to use to support a criminal Clean Air Act case against San Diego Gas & Electric Co.

  • September 2, 2009

    Pfizer Finalizes $2.3B Bextra Off-Label Marketing Deal

    Pfizer Inc. will pay $2.3 billion and one of its subsidiaries will plead guilty to a criminal charge to settle claims that the drug giant improperly marketed the discontinued anti-inflammatory drug Bextra and three other medicines, federal regulators announced Wednesday, marking the largest such settlement on record.

  • September 1, 2009

    SocGen Trader's Trial Delayed Pending Appeal

    The trial of Jerome Kerviel, the French former Societe Generale trader blamed for €4.9 billion ($7 billion) in losses at the bank, reportedly has been delayed pending a procedural appeal.

  • September 1, 2009

    2nd Circ. Affirms $25M Asbestos Verdict V. Contractor

    A federal appeals court has affirmed a $25 million verdict against a New York asbestos abatement contractor over an alleged decade-long conspiracy to illegally dispose of asbestos in violation of the Racketeer Influenced and Corrupt Organizations Act, the Clean Air Act and the Toxic Substances Control Act.

  • September 1, 2009

    Hsu Says He Isn't Liable For All Ponzi Losses

    Businessman and infamous political donor Norman Hsu has told a judge his sentencing should reflect the fact that he was not responsible for injury to all those who lost millions in an allegedly fraudulent investment scheme.

  • August 27, 2009

    Citigroup Shareholder Derivative Action Fails

    Citigroup Inc. executives have won the dismissal of derivative litigation stemming from the collapse of the subprime mortgage market, a victory that comes after they challenged the shareholder plaintiffs' failure to demand action by the board of directors.

  • August 27, 2009

    Stanford Rushed To Hospital As Ex-CFO Admits Plot

    Former Stanford International Bank Ltd. Chief Financial Officer James M. Davis copped a guilty plea Thursday to his role in an $8 billion Ponzi scheme, just hours after the plot's alleged mastermind, Texas billionaire Robert Allen Stanford, was rushed to an area hospital with a high pulse rate.

  • August 25, 2009

    SK Foods Ex-VP Pleads Guilty To Tomato Plot

    A former executive at tomato grower and processor SK Foods LP has pled guilty to conspiracy and agreed to cooperate in the U.S. government's ongoing investigation of an alleged bribery and price-fixing scheme involving the sales of processed tomatoes to major food vendors.

  • August 25, 2009

    Former Monster Exec Pleads For Lenient Sentence

    The former president and chief operating officer of Monster Worldwide Inc. could face nearly 34 years in prison as a result of his securities fraud conviction over stock options backdating, according to a memorandum filed by his lawyers decrying the “draconian” sentencing recommendation.

  • August 25, 2009

    Top Clinton Fundraiser Charged With Bank Fraud

    A major Democratic fundraiser who served as the finance chair for Hillary Clinton's failed presidential campaign and drew in significant campaign funds for President Barack Obama is facing charges that he falsified information in order to get $74 million in loans from Citibank NA.

  • August 25, 2009

    Epson To Plead Guilty, Pay $26M In TFT-LCD Case

    Epson Imaging Devices Corp. has agreed to plead guilty and pay a $26 million criminal fine for participating in a price-fixing conspiracy in the sale of thin film transistor liquid crystal display panels to Motorola Inc. for the Razr cell phone.

  • August 25, 2009

    Chinese Exec Cops Plea In Honey Duty-Dodging Case

    An executive with China-based Changge Jixiang Bee Products Ltd. is facing up to five years in a U.S. prison after pleading guilty to being part of a scheme to dodge more than $3.3 million in anti-dumping duties on $1.6 million worth of honey imported from China.

  • August 25, 2009

    Fund Manager Pleads Guilty To Ripping Off His Family

    A Beverly Hills, Calif.-based hedge fund manager has pled guilty to charges that he bilked members of his own family and other investors out of more than $25 million from 2003 through 2009.

  • August 25, 2009

    Stanford To Remain Behind Bars

    The U.S. Court of Appeals for the Fifth Circuit has rejected Robert Allen Stanford's request to be released from jail, concurring with the lower court that the Texas billionaire could escape from the country as he awaits trial.