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Posts Tagged ‘10 Million’

JPMorgan Chase chief gets $10m in shares

February 6th, 2010

Before You Invest

Jamie Dimon, JPMorgan Chase’s chief executive officer, has taken $10 million in shares after exercising stock options that have accrued over the course of ten years.

He has taken on an additional 250,000 shares – a move he had to make before the stock expired in March.

The windfall comes on top of his 2009 pay packet, which is set to be revealed in the next few days and is estimated to stand between $15 and $20 million, reports the Financial Times.

JPMorgan Chase shares have increased in value by around 60 per cent over the course of the past 12 months but company insiders indicated that Mr Dimon has no immediate intention of selling his stock.

It is believed that he is also likely to forgo a cash bonus for the second year in a row to help fend off potential criticism of JPMorgan Chase’s pay practices.

Last month, industry analysts predicted to the Telegraph that the firm’s bonus pot will stand at around $29 billion.

Posted in Finance Fraud

Tags: 10 Million, 12 Months, Cash Bonus, Chief Executive Officer, Company Insiders, Few Days, Financial Times, Industry Analysts, Intention, Jamie Dimon, Jpmorgan Chase, Pay Packet, Pot, Shares, Stock Options, Telegraph, Windfall

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FINRA Arbitrations Filed Seeking Damages of More Than $10 Million — Medical Capital

December 10th, 2009

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Aidikoff, Uhl & Bakhtiari (www.securitiesarbitration.com) announces the filing of additional FINRA arbitration claims against brokerage firms that sold Medical Capital and other securities to investors.

To date the firm has filed claims on behalf of more than 25 families seeking more than $10 million in damages against several brokerage firms.

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Posted in Finance Fraud

Tags: 10 Million, 15 Months, Arbitration Claims, Bakhtiari, Brokerage Firms, Class Actions, Class Case, Depositions, Finra, Hurdles, Important Facts, Individual Investors, Investor Claims, Medical Capital Corporation, Medical Provider, Motion Practice, Pennies On The Dollar, Pitfalls, Special Purpose Entity, Uhl

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Guardian jobs site hacked, 500,000 records stolen – information-age.com – 26 Oct 09

October 28th, 2009

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The details of over half a million jobseekers were stolen by hackers who are believed to have compromised the Guardian’s job listing website

The Guardian’s job website has notified nearly half a million of its users that their personal details are at risk following a “deliberate and sophisticated” criminal data breach, “of which the Guardian is a victim in addition to some of our users.”

The incident is currently being investigated by the Police Central e-crime unit and details are scarce.

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Posted in Finance Fraud

Tags: 10 Million, Board Software, Crime Unit, Cvs, Dates Of Birth, Education History, Fraudster, Goldmine, Guardian Jobs, Half A Million, Hijacking, Information Age, Jj, Job Listing, Jobseekers, Media Group, Monster Co Uk, Police Central, Usernames Passwords, Utmost Seriousness

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SEC and Stanford Victims Oppose Standford Request For Money

May 5th, 2009

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Stanford Group Co. investors and U.S. regulators are opposing Texas billionaire R. Allen Stanford’s request to unlock $10 million in frozen assets to defend against allegations he ran an $8 billion Ponzi scheme.

The U.S. Securities and Exchange Commission sued Stanford, two associates and three of his companies on Feb.

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Posted in Finance Fraud

Tags: 10 Million, Allegations, Certificates Of Deposit, Companies In Receivership, Corporate Assets, Financial Group, Frozen Assets, High Yield Certificates Of Deposit, Investors, Money, Personal, Preliminary Injunction, R Allen, Regulators, Sec, Securities And Exchange, Securities And Exchange Commission, Stanford Group, Texas Billionaire, Wrongdoing

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Marc Dreier placed under house arrest

February 18th, 2009

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A New York lawyer charged with running an elaborate $400 million investment fraud has been bailed and placed under house arrest at his Manhattan apartment, according to reports.

Marc Dreier is charged with creating bogus auditing statements and using a cast of associates impersonating legitimate advisers in order to sell fake promissory notes to hedge funds in the United States and Canada.

He had been awaiting trial in jail after a judge said he had engaged in “reckless, clever and improvising” behavior prior to his arrest that suggested he posed a flight risk. Mr Dreier had also been unable to find four people willing to guarantee his $10 million bail.

Under the new arrangement, Reuters reports, Mr Dreier has signed a $10 million personal recognizance bond, co-signed by his mother and son.

He will wear an electronic tag and must also pay for private armed guards and an alarm to be installed at his apartment.

The former lawyer has pleaded not guilty to the civil and criminal charges against him.

In December, the Securities and Exchange Commission’s complaint against Mr Dreier accused him of a “stunning, brazen fraud”.

Posted in Finance Fraud

Tags: 10 Million, Armed Guards, Auditing, Bond Co, Canada, Criminal Charges, Electronic Tag, Flight Risk, House Arrest, Investment Fraud, Manhattan Apartment, Mother And Son, New York Lawyer, Personal Recognizance Bond, Promissory Notes, Reuters Reports, Securities And Exchange, Securities And Exchange Commission

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Bernard Madoff’s wife withdrew some $15.5 million in the weeks before his arrest

February 12th, 2009

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Bernard Madoff’s wife withdrew some $15.5 million in the weeks before his arrest, Massachusetts regulators said yesterday. Massachusetts Secretary of the Commonwealth William Galvin is seeking to yank Cohmad Securities Corp.’s securities registration in the Bay State, accusing it of stonewalling his investigation of Madoff.

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Posted in Finance Fraud

Tags: 10 Million, 5 Million, Bernard Madoff, Brokerage Account, Feeder, Fraud, Investment Securities, Licensed Securities, Massachusetts Secretary Of The Commonwealth, Money Exchange, Prosecution, Prosecutors, Regulators, Secretary Of The Commonwealth, Securities And Exchange, Securities And Exchange Commission, Securities Dealers, Seizure, William Galvin, Withdrawals

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Marc Drier Likely To Remain In Jail

January 24th, 2009

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Marc Dreier, the New York lawyer jailed since his arrest for allegedly cheating hedge funds, won’t be able to post the $20 million bond that would free him, his lawyer told a federal judge.

U.S. Magistrate Judge Douglas Eaton in New York yesterday modified an earlier ruling that ordered Dreier held without bail until trial.

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