White Collar

  • June 22, 2006

    Scientific-Atlanta Settles Claims Over Adelphia Scandal

    Scientific-Atlanta Inc. will cough up $20 million to resolve charges brought by the U.S. Securities and Exchange Commission that it assisted cable operator Adelphia Communications Corp. in overstating its earnings by about $43 million.

  • June 21, 2006

    Short Seller Gets Eleven Years

    Short seller Anthony Elgindy was slapped with 11 years and three months in prison and a $1.6 million fine by a federal judge yesterday for his role in manipulating stock using confidential government information gained from an agent with the Federal Bureau of Investigation.

  • June 21, 2006

    Former Buca CEO Cops Guilty Plea

    The former chief executive of Italian restaurant chain Buca Inc. has plead guilty to criminal fraud charges, agreeing to pay a $250,000 criminal fine and $65,000 plus interest back to the company he stands accused of looting.

  • June 20, 2006

    Three Gas Traders Admit To Price Manipulation

    A federal investigation into price manipulation in the natural gas markets continues to net guilty pleas, with three more traders admitting to organizing a conspiracy to skew the price of natural gas.

  • June 19, 2006

    Judge Delays Sentencing Of Enron Duo

    A federal judge has pushed off the sentencing for former Enron Corp. chief executives Kenneth Lay and Jeffrey Skilling, who were found guilty by a jury last month for the fraud and conspiracy that led to Enron’s nosedive into bankruptcy.

  • June 16, 2006

    Skilling Defense Team Awaits Millions In Fees

    In what may add up to the most expensive defense in history, O’Melveny & Myers LLP, the Los Angeles-based law firm which has defended former Enron chief executive Jeffrey Skilling on civil and criminal charges since 2001, is reportedly waiting to collect tens of millions of dollars in legal fees.

  • June 15, 2006

    Jury Deliberates Scrushy's Fate

    A jury began deliberating Thursday afternoon over whether Richard M. Scrushy will serve jail time for charges stemming from a $500,000 payoff federal prosecutors argued secured him a seat on a state regulatory board. If convicted, Scrushy faces the possibility of decades in jail and hundreds of thousands of dollars in fines.

  • June 12, 2006

    Ex-Williams Energy Manager Admits To Gas Price Scheme

    Following a two-year investigation by the Federal Bureau of Investigation and the Commodity Futures Trading Commission, a third Williams Energy employee has pled guilty to engaging in a scheme to manipulate natural gas prices.

  • June 8, 2006

    Merrill Execs Convicted In Nigerian Barge Case Released

    Two former Merrill Lynch & Co. Inc. executives convicted for their roles in the Enron-related Nigerian Barge scheme have been released from prison by a judge in the U.S. Court of Appeals for the Fifth Circuit due to their pending appeals.

  • June 5, 2006

    Parmalat Criminal Case Moves Forward

    A court in Parma, Italy kicked off the main criminal proceedings Monday in Parmalat’s $18 billion collapse, with 64 former executives, financial advisers and bankers on the hook for fraud allegations that contributed to one of Europe’s largest corporate debacles.

  • May 31, 2006

    Court Orders Review Of Milberg Weiss Indictment

    In the latest development in the case against plaintiffs’ firm Milberg Weiss Bershad & Schulman, a Delaware court has asked the state's attorney disciplinary authorities to review the federal criminal indictment of former partner Steven Schulman.

  • May 30, 2006

    Daewoo Founder To Pay $22B In Fraud Case

    The founder of now-bankrupt auto maker Daewoo Group will pay $22 billion and spend 10 years in jail in Seoul, as punishment for a slew of financial crimes including accounting fraud, embezzlement and breach of fiduciary duty.

  • May 26, 2006

    Hedge Fund Manager Indicted, Millions Still Missing

    Atlanta hedge fund manager Kirk Wright has been formally indicted on charges of mail fraud stemming from the loss of over $100 million in investments, the bulk of which has yet to be recovered.

  • May 26, 2006

    Founder Of Now-Bankrupt Hedge Fund Indicted

    The founder of now-insolvent hedge fund International Management Associates has been formally indicted on charges for mail fraud after over $100 million disappeared from the fund, prompting its Chapter 11 filing.

  • May 25, 2006

    Ostrich Defense Backfires For Lay, Skilling

    The guilty verdict in the trial of former Enron executives Ken Lay and Jeffery Skilling may be the final nail in the coffin of the “ostrich” defense, experts say.

  • May 25, 2006

    Lay, Skilling Convicted In Enron Trial

    Former Enron executives Ken Lay and Jeff Skilling have been found guilty of conspiracy for their roles in the accounting fraud at the now-defunct energy giant.

  • May 25, 2006

    The Enron Era: Is It Over?

    The conviction of former Enron executives Ken Lay and Jeff Skilling signals the end of an era, many legal experts believe. But some point to subtle signs that the government’s crackdown on corporate crime is only gathering steam.

  • May 25, 2006

    Thorny Road Ahead For Convicted Enron Duo

    Ken Lay's and Jeffery Skilling's legal odyssey is is far from over, as the former executives face sentencing and what is sure to be a lengthy appeals process.

  • May 23, 2006

    Second Plea Bargain In Milberg Weiss Kickback Probe

    Federal prosecutors continue to build their case against plaintiffs firm Milberg Weiss Bershad & Schulman, aided by yet another plea bargain in the ongoing probe into allegations that the firm and its partners paid kickbacks to lead plaintiffs.

  • May 22, 2006

    Seven Indicted In $3B Fraud

    Seven former executives of financial services company National Century Financial Enterprises have been indicted by an Ohio grand jury for allegedly scamming investors out of $3 billion.