A judge has sentenced admitted Ponzi schemer and former hedge fund manager Arthur G. Nadel to 14 years in prison for crimes associated with his defrauding of hundreds of investors out of as much as $162 million.
A federal court has sentenced former DuPont Co. chemist Hong Meng to 14 months in prison for stealing trade secrets related to light-emitting diode technology in violation of an employment pact, a slightly shorter term than the 18 months demanded by prosecutors.
Federal prosecutors are investigating the contingency account expense reports of Illinois Cook County Commissioner William Beavers, who reportedly admitted that he has used the $1,200 monthly stipend to boost his income.
A former accounting manager at Wood Herron & Evans LLP has been indicted by a Cincinnati grand jury for taking more than $411,000 from the 140-year-old intellectual property boutique over a 26-month period.
The top federal prosecutor for the Southern District of New York has vowed to continue to aggressively pursue illegal insider trading cases, calling the practice a “rampant” problem that “may even be on the rise.”
The life sentence that would await former Taylor Bean & Whitaker Mortgage Corp. Chairman Lee Bentley Farkas if convicted in a nearly $2 billion fraud scheme is sufficient evidence that he’s a flight risk and should continue to be monitored by a GPS anklet, government prosecutors have said.
British drugmaker GlaxoSmithKline PLC disclosed Thursday that it was responding to federal subpoenas regarding its diabetes drug Avandia and three HIV products and that Foreign Corrupt Practices Act investigators had asked the company for information about its overseas activities.
Attorneys for convicted securities fraudster Laurence Isaacson have ripped a presentence report that recommends their client spend five years in prison for his role in operating a $500 million hedge fund scheme through several shell companies, calling the proposed prison term absurd and suggesting he serve a sentence of six to 12 months instead.
Shortfalls in state and local government revenue streams combined with underfunded government and private pensions will likely lead to an array of bond and pension defaults that seem destined to result in litigation and, possibly, investigations, says William K. Dodds, chairman of Dechert LLP's white collar and securities litigation group.
Investors alleging Refco Inc. artificially inflated its stock through false statements, nondisclosures and fraudulent conduct prior to a 2005 initial public offering have agreed to drop their claims against the failed brokerage's ex-chief financial officer, who already pled guilty to related criminal charges.
New York Attorney General Andrew Cuomo has asked for a $728 million restitution from hedge fund manager Ezra Merkin and his company Gabriel Capital Corp., alleging the defendants funneled money to Bernard Madoff’s Ponzi scheme without disclosing it and profited from investment fees.
The Organization for Economic Cooperation and Development praised the U.S. on Wednesday for its increasing efforts to crack down on foreign bribery, but it said regulators and prosecutors should be more transparent about the reasons they use particular kinds of agreements to resolve certain cases.
A former high-level American International Group Inc. and Deutsche Bank AG executive has been charged with funneling nearly $500,000 of her employers' money to a horse farm she ran with her husband.
A court ruling that effectively stripped alleged Ponzi schemer Robert Allen Stanford of insurance coverage for his mounting legal bills may well have been the product of unusual — if not bizarre — circumstances, but its oddities won't necessarily prevent it from being a lodestar for future cases, experts warn.
A New York man who used straw buyers from halfway houses to broker at least $10 million in subprime loans now in default has received a 10-year prison sentence.
The Manhattan District Attorney's office has restructured its Rackets Bureau creating a Public Integrity Unit that will proactively investigate government corruption at all levels — from bribery by public servants to election fraud and criminal violations of state and local ethics laws.
There was a lot of speculation about the waves of litigation that would materialize as a result of the financial crisis. Many of those waves did not materialize, and for those that did, they were not the tsunamis predicted. This may explain why most lawyers don’t surf in their free time, says Charles Wm. McIntyre, chairman of McGuireWoods LLP's government, regulatory and criminal investigations department.
Federal prosecutors have reiterated their push for a 20-year jail sentence for admitted Ponzi schemer Arthur Nadel, days after Nadel's attorneys, citing his failing health and unjailed co-conspirators, sought leniency for their client.
A former Greenberg Traurig LLP associate who specialized in bankruptcy and commercial foreclosure pled guilty Wednesday to federal charges related to a scheme to steal more than $500,000 from the firm.
With less than a week before a criminal supply fraud case against Western Titanium Inc. over fighter jet materials heads to trial, a former company executive charged in the case has asked a judge to strike more than a dozen allegations from the indictment.