White Collar

  • March 4, 2011

    South Florida Trustee Charged With $16M Fraud

    A longtime bankruptcy trustee was charged Thursday in a Florida federal court with misappropriating more than $16 million in cases she was overseeing, and losing — or possibly pocketing — at least $2.4 million in the process.

  • March 3, 2011

    CFTC Fines Fraudster $47M For Investment Scam

    The U.S. Commodity Futures and Trading Commission on Thursday imposed $46.9 million in restitution and penalties on an imprisoned California commodity pool investment manager for misappropriation of funds, wire fraud and providing false statements to customers.

  • March 3, 2011

    Senator, Congressman Probe SEC Counsel's Madoff Ties

    Two federal legislators requested more information Thursday from the U.S. Securities and Exchange Commission about a former SEC attorney facing a clawback suit from the Bernard L. Madoff bankruptcy trustee.

  • March 3, 2011

    We Did Our Jobs, Ex-Jenkens Attys Argue In Tax Case

    Lawyers for former Jenkens & Gilchrist LLP attorneys accused of helping to perpetrate an illegal tax shelter scheme delivered opening arguments in a criminal trial Thursday in New York, painting the defendants as hard-working, honest professionals just doing their jobs.

  • March 3, 2011

    Jury Pool Tainted By SEC Action, Rajaratnam Claims

    Raj Rajaratnam argued Thursday that publicity from recent fraud accusations against a former Goldman Sachs Group Inc. director has “seriously jeopardized” his right to a fair trial in New York district court on insider trading charges related to an investment deal.

  • March 3, 2011

    Miss. HR Manager Avoids Prison Over Immigration Raid

    The former human resources manager of industrial manufacturer Howard Industries Inc. was sentenced Thursday in Mississippi to six months' home confinement for hiring hundreds of undocumented workers detained in the largest workplace immigration raid in U.S. history.

  • March 3, 2011

    Irked Customers Battle Madoff Trustee In 2nd Circ.

    Scores of Bernard Madoff customers, including the New York Mets' owners, squared off Thursday against a bankruptcy trustee in the Second Circuit over a claims calculation method that has cut them out of recoveries for victims of the Ponzi scheme.

  • March 3, 2011

    Judge Convicts Former Merritt Oil Exec Of Check Kiting

    A former executive at Merritt Oil Co. was found guilty in Alabama on Wednesday of conspiring to float $200 million in bad electronic fund transfers and bad checks in order to keep the company from defaulting in its daily payments to suppliers.

  • March 3, 2011

    Beazer CEO To Repay $6.5M Bonus In SEC Deal

    Beazer Homes USA Inc.'s CEO struck a deal with the U.S. Securities and Exchange Commission on Thursday to nix a lawsuit in Georgia, agreeing to pay back $6.5 million in compensation he received while the company was allegedly engaged in accounting fraud.

  • March 3, 2011

    Judge Denies Severance In Ala. Corruption Case

    A federal judge on Wednesday denied motions for severance by six of 11 defendants indicted in connection with an alleged multimillion-dollar vote-buying scheme to swing the Alabama Legislature in favor of pro-gambling measures.

  • March 3, 2011

    Ex-WellCare CEO, Others Charged With Medicaid Fraud

    The former CEO of WellCare Health Plans Inc. and four other former executives were struck with Medicaid fraud and other charges in a federal court in Florida on Wednesday.

  • March 3, 2011

    Obama Names New US Atty For Northern Miss.

    President Barack Obama on Wednesday announced the nomination of long-serving assistant U.S. attorney Felicia C. Adams for U.S. attorney for the Northern District of Mississippi.

  • March 3, 2011

    Ex-Taylor Bean Exec Drops Deutsche Bank Subpoena

    A former Taylor Bean & Whitaker Mortgage Corp. executive charged in Virginia federal court with orchestrating a $2 billion fraud withdrew a subpoena Tuesday seeking documents from Deutsche Bank Securities, though he is still pursuing records from Troutman Sanders LLP.

  • March 3, 2011

    Feds Seek Discovery Stay In Massey Securities Action

    The federal government asked a West Virginia court on Thursday to stay all discovery in a proposed securities class action against Massey Energy Co. until the completion of related criminal proceedings.

  • March 3, 2011

    UBS Adviser Stole $3M For Cars, Hookers, Feds Claim

    Former UBS Financial Services Inc. financial adviser Steven Kobayashi was charged Thursday in Calfornia with stealing $3.3 million from investment clients and spending the money on cars, gambling debts and prostitutes.

  • March 3, 2011

    UBS Tries To Quash Convicted Tax Evader's $9M Claim

    UBS AG filed suit Tuesday in New York against a man recently sentenced to prison for tax evasion, in an effort to prevent him from pursuing an arbitration action that seeks more than $9 million from the Swiss bank.

  • March 2, 2011

    Judge Scraps Bail For Insider Trading Suspect Jiau

    A New York federal judge on Wednesday revoked bail for former Primary Global Research LLP consultant Winifred Jiau, who is accused of dishing insider tips about technology companies to hedge funds, over concerns she could flee to her native Taiwan.

  • March 2, 2011

    NM Real Estate Co. Faces SEC Fines For Alleged Fraud

    The U.S. Securities and Exchange Commission on Tuesday won a judgment for disgorgement against the bankrupt company of prominent New Mexico real estate agent Douglas F. Vaughan, who is accused of running an $80 million Ponzi scheme.

  • March 2, 2011

    Ponzi Schemer Seeks To Cut $24M Restitution Proposal

    A Danish woman who pled guilty to her role in a $250 million international Ponzi scheme urged a Virginia federal court Tuesday to reduce the $24 million restitution prosecutors have demanded, saying she is broke and "surely will remain so."

  • March 2, 2011

    Madoff Trustee Hits Jewish Group With Clawback Suit

    Irving Picard, the trustee for Bernard L. Madoff's defunct investment firm, sued the American Jewish Congress on Tuesday in New York to recover more than $9.4 million in phony profits the advocacy group and two related entities allegedly took from Madoff's Ponzi scheme.