(Bloomberg) — Florida money manager Arthur Nadel pleaded guilty to 15 fraud counts, 13 months after he disappeared for two weeks in January 2009 as state authorities started investigating investor complaints about missing money.U.S. District Court Judge John Koeltl in Manhattan accepted the guilty pleas today. Nadel, 77, founder of Scoop Management Inc.
Posts Tagged ‘Count Indictment’
Florida Money Manager Nadel Pleads Guilty to Fraud
February 24th, 2010 
Before You Invest 
Posted in Finance Fraud 
Tags: Asset Values, Count Indictment, District Court Judge, Federal Defenders, Guilty Pleas, Investor Complaints, Judge John Koeltl, Mail Fraud, Mark B, Maximum Prison, Missing Money, Money Manager, Nadel, New Money, Plea Agreement, Ponzi Scheme, Sarasota Florida, Securities Fraud, State Authorities, Wire Fraud 
Comments OffJulian Tzolov apprehended by Department of Justice
July 15th, 2009 Before You Invest (Bloomberg) — Julian Tzolov, the fugitive former Credit Suisse Group AG broker who was charged with bail jumping, has been arrested, Assistant Brooklyn U.S. Attorney Daniel Spector said in a letter to court filed today. Authorities in Marbella, Spain have taken Tzolov into custody following an international manhunt after he disappeared in New York in May.Tzolov, who’s accused of fraudulently selling clients subprime mortgages linked to auction-rate securities, was declared a fugitive in June.
Posted in Finance Fraud Tags: Apartment, Authorities, Bloomberg, Brooklyn, Bulgaria, Count Indictment, Credit Suisse, Credit Suisse Group, Daniel Spector, Department Of Justice, Electronic Monitoring, Eric Butler, Group Ag, Illegal Scheme, Julian, Kennedy Airport, Manhunt, Marbella Spain, Mortgages, Prosecutors, Wire Fraud No Comments »18 charged over alleged bank fraud ring
May 30th, 2009 Before You Invest Manhattan’s district attorney has announced the indictment of 18 people including former employees of JPMorgan Chase Bank, TD Bank and HSBC over an alleged identity theft and check fraud scheme believed to have affected hundreds of victims. The 227-count indictment contests that between October 1st 2007 and February 10th 2009, the defendants conspired to steal bank account and personal information, which they then used to manufacture thousands of counterfeit checks. Jasper Grayson and James Malloy are said to have bought the data necessary to forge the checks by recruiting a number of bank employees with access to account records. Once they had obtained the details, Mr Grayson and Mr Malloy are alleged to have made the checks using specialist computer software, scanners, printers, magnetic ink and company logos found on the internet. Conspirators are also said to have enlisted “soldiers” to cash and deposit the checks. The individuals recruiting these “soldiers” obtained their personal details so the counterfeit checks could be made out to them. District attorney Robert Morgenthau said victims of the alleged conspiracy included private individuals, companies, religious institutions and both city and state agencies. Mr Morgenthau has served has Manhattan’s district attorney since 1975.
Posted in Finance Fraud Tags: Bank Fraud, Check Fraud, Company Logos, Conspirators, Count Indictment, Counterfeit Checks, District Attorney, Enlisted Soldiers, Fraud Ring, Fraud Scheme, Grayson, Jpmorgan Chase Bank, Magnetic Ink, Malloy, Private Individuals, Religious Institutions, Robert Morgenthau, Software Scanners, Specialist Computer Software, Td Bank No Comments »Nadel pleads not guilty to $360m investment fraud
May 2nd, 2009 Before You Invest Hedge fund manager Arthur Nadel has pleaded not guilty to a 15-count indictment accusing him of orchestrating a $360 million investment fraud.Federal prosecutors contest that Mr Nadel engaged in securities fraud, wire fraud and mail fraud to dupe 350 investors into handing over their money.According to the government’s complaint, the hedge fund manager collected millions of dollars in fees by misrepresenting the historical returns and assets of the funds under his control.Investors are said to have been misled by the alleged fraud for the last ten years.Mr Nadel is currently in custody as he cannot meet the conditions of his $5 million bail.
Posted in Finance Fraud Tags: 5 Million, Arthur, Assets, Contention, Count Indictment, Defense Attorney, Dupe, Federal Prosecutors, Flight Risk, Hedge Fund Manager, Historical Returns, Investment Fraud, Investors, Judge John, Last Ten Years, Mail Fraud, Securities And Exchange, Securities And Exchange Commission, Securities Fraud, Wire Fraud No Comments »Blagojevich Charged With 16 Corruption Felonies
April 3rd, 2009 Before You Invest The New York Times has an update on the Blago the Clown tale:By MONICA DAVEY and SUSAN SAULNY. Published: April 2, 2009CHICAGO — Rod R. Blagojevich, the ousted governor of Illinois, used his chance to fill the Senate seat vacated by Barack Obama as one more money-making plot in a vast racketeering scheme, federal prosecutors said Thursday, an operation they described as the “Blagojevich Enterprise.” In a 19-count indictment, prosecutors said the “primary purpose of the Blagojevich Enterprise was to exercise and preserve power over the government of the State of Illinois for the financial and political benefit of” Mr.
Posted in Finance Fraud Tags: Barack Obama, Blago, Chiefs Of Staff, Clown Story, Count Indictment, Disney World In Florida, False Statements, Federal Agents, Federal Prosecutors, Felonies, Financial Gain, Government Work, Governor Of Illinois, Monica Davey, New York Times, Senate Seat, State Commissions, Term Democrat, Walt Disney World, Wire Fraud No Comments »CBOT traders indicted for fraud
April 2nd, 2009 Before You Invest (Crain’s) — Two veteran Chicago Board of Trade floor traders were indicted for allegedly cheating customers out of $2 million.Edward Sarvey of Lemont and David Sklena of Skokie, both longtime traders in the CBOT’s five-year Treasury note futures pit, allegedly carried out the fraud on the morning of March 1, 2004, just as the U.S.
Posted in Finance Fraud Tags: Bets, Cbot, Chicago Board Of Trade, Commodities, Commodity Exchange Act, Count Indictment, Debt Markets, Employment Report, Floor Traders, Forfeiture, Futures Contracts, Futures Trading, Labor Department, Lemont, March 1, Skokie, Swings, Veteran, Wire Fraud, Year Treasury Note No Comments »Former Morgan Stanley Broker Prosecuted for Theft
February 19th, 2009 Before You Invest A former Morgan Stanley vice president was arraigned on a 43-count indictment for stealing $2.5 million from the company over a seven-year period.Richard Garaventa Jr., an ex-vice president in operations, wrote 50 company checks between Sept. 5, 2001, and Dec. 24, 2008, ranging from $8,670 to $74,812, made out to a firm he made, according to the indictment obtained by Manhattan District Attorney Robert Morgenthau and filed Feb.
Posted in Finance Fraud Tags: 5 Million, Admission, Airfare, Cash Withdrawals, Chase Co, Checking Account, Company Checks, Count Indictment, Dec 24, Dozens, Garaventa, Jpmorgan Chase, Manalapan New Jersey, Manhattan District Attorney, Morgan Stanley, Morgan Stanley Representative, New York In August, Prosecutors, Robert Morgenthau, Thousands Of Dollars No Comments »Agriprocessors CEO Sholom Rubashkin was granted a new hearing over whether he should remained jail
January 20th, 2009 Before You Invest former chief executive officer of the nation’s largest kosher meatpacking plant was granted a new hearing over whether he should remained jail as he awaits a trial on charges stemming from a large immigration raid.Chief U.S. District Court judge Linda Reade said in an order last week she will hear testimony and consider written evidence at the new bail hearing Thursday for former Agriprocessors CEO Sholom Rubashkin.He originally faced 12 counts of bank fraud, harboring illegal immigrants, document fraud and identity theft.
Posted in Finance Fraud Tags: Agriculture Secretary, Agriprocessors, Bank Fraud, Bankruptcy Protection, Chief Executive Officer, Count Indictment, District Court Judge, Document Fraud, Dubuque County, E Mail, Federal Charges, Flight Risk, Fraud Allegations, Guy Cook, Illegal Immigrants, Immigration Officials, Law Of Return, Meatpacking Plant, Office Spokesman, Rubashkin No Comments »
