Earlier this week Trevor G. Cook, a onetime money manager charged with operating a foreign currency trading scheme, was jailed for being in contempt of court. A federal judge in Minnesota had been trying to enforce an order granted to the Securities and Exchange Commission (SEC) forcing Cook to hand over more than $35 million in assets when Cook’s unwillingness to comply landed him in jail.
Posts Tagged ‘Federal Judge’
Fraud Defendant Lands in Jail for Failure to Comply with Court Order
January 27th, 2010 
Before You Invest 
Posted in Finance Fraud 
Tags: Assets, Chicago Regional Office, Contempt Of Court, Defendant, Faberge Eggs, Federal Judge, Foreign Currency Trading, Fraud, Gillete, Investor, Luxury Cars, Money Manager, Offshore Accounts, Radio Host, Securities And Exchange, Securities And Exchange Commission, Securities Products, Selling Unregistered Securities, Shell Companies, Submarine 
Comments OffChicago lawyer gets 7 years for role in Refco fraud
January 15th, 2010 Before You Invest
(AP) — A Chicago lawyer was sentenced to seven years in prison Thursday by a federal judge who said his excessive loyalty to Refco Inc.
Posted in Finance Fraud Tags: Charitable Acts, Chicago Lawyer, Chicago Schools, Commodities Broker, Commodities Brokerage, Critical Player, Defendant, District Judge, Federal Authorities, Federal Judge, Federal Sentencing Guidelines, Fraud Lawyer, Frauds, Greed, Judge Robert, Mid 1990s, Prison Term, Refco Inc, University Of Notre Dame, Winnetka No Comments »This Day in Wall Street History 1987: Boesky is sentenced
December 18th, 2009 Before You Invest The hammer finally came down on Ivan Boesky on this day in 1987, as Federal Judge Morris E. Lasker sentenced the once-mighty arbitrageur to a three-year prison term.
Boesky, who had been one of the wealthiest and most-powerful players on Wall Street, was found guilty of insider trading, as well as a series of sizable but shady transactions — crimes that constituted what The Wall Street Journal deemed the “largest scandal in Wall Street’s history.”
While Lasker chided Boesky for committing offenses “of the highest seriousness,” the arbitrageur cushioned his fall by agreeing to implicate other firms and figures suspected of securities crimes.
Posted in Finance Fraud Tags: 100 Million, Arbitrageur, Crime Fighter, District Attorney, E Lasker, Eyebrows, Federal Judge, High Profile, Insider Trading, Ivan Boesky, Mayor Of New York, Mayor Of New York City, Political Ambitions, Profile Wall, Rudolph Giuliani, Scandals, Seriousness, Source History, Wall Street History, Wall Street Journal No Comments »Madoff Auditors Consent to Partial Judgment According to Securities and Exchange Commission
November 4th, 2009 Before You Invest The Securities and Exchange Commission today announced that Bernard Madoff’s auditors have agreed not to contest the SEC’s charges that they enabled Madoff’s fraud by falsely stating they audited the convicted fraudster’s financial statements in accordance with the relevant accounting and auditing standards.
On November 3, 2009, the SEC submitted to the Honorable Judge Louis L.
Posted in Finance Fraud Tags: Accounting Principles, Audit Reports, Auditing Standards, Bernard Madoff, Consents, David Horowitz, Disgorgement, Federal Judge, Federal Securities Laws, Financial Statements, Fraudster, Gaap, Honorable Judge, Injunctions, Investment Securities, Permanent Injunction, Ponzi Scheme, Securities And Exchange Commission, Southern District Of New York, Today Announced That No Comments »Feds pursue fund manager they say stole $1M
October 31st, 2009 Before You Invest
A federal judge froze the assets of an $8.3-million Chicago-based hedge fund after a federal regulator sued the fund’s manager for misappropriating $1 million from his investors. Richmond H.
Posted in Finance Fraud Tags: 1m, Affidavit, Airplane, Capital Management Inc, Cftc, Commodity Futures Trading Commission, Federal Judge, Federal Regulator, Feds, Futures Trading Commission, Hamilton Jr, Hedge Fund, Investor Complaint, Mr Hamilton, National Futures, Personal Expenses, Real Estate Sales, Regulators, Sham, Withdrawals No Comments »Bank of America’s $2bn lawsuit against Bear Stearns set for court
October 2nd, 2009 Before You Invest A Bank of America lawsuit against Bear Stearns and two of its hedge-fund managers will go ahead after a federal judge refused to dismiss contract and fraud claims.
Bank of America is claiming more than $2 billion in damages, alleging that Bear Stearns’s hedge fund losses were hidden from it, causing it significant losses as the value of the assets and the securities fell dramatically.
Hedge-fund managers Ralph Cioffi and Matthew Tannin are set to go on trial on October 13th 2009 in New York for their part in the alleged fraud.
The collapse of Bear Stearns’s hedge funds in 2007 led to the investment bank’s dramatic downfall that saw it sold to JPMorgan Chase & Co in May 2008 for just $10 a share.
Staff at the company, who owned almost 40 per cent of the shares between them, lost billions of dollars on their holdings, which had been trading at more than $150 a share in early 2007.
Medical Capital Moves Towards Bankruptcy Filing
August 19th, 2009 Before You Invest The officers of Tustin lender Medical Capital Holdings asked a federal judge Monday to let the company file a Chapter 11 bankruptcy reorganization.
U.S. District Judge David O. Carter said he probably would refuse. But he gave the company and the Securities and Exchange Commission a week to make their cases.
Posted in Finance Fraud Tags: Accelerator, Bankruptcy Reorganization, Capital Assets, Capital Moves, Chapter 11 Bankruptcy, Court Session, Courtroom, District Judge David, Federal Judge, Investor Funds, Life Sciences, Linear Accelerator, Medical Capital, Medical Receivables, Nuclear Power Plant, Reluctance, Seaman, Securities And Exchange Commission, Wells Fargo, Wells Fargo Bank No Comments »Medical Capital Investors Suffer Losses
August 18th, 2009 Before You Invest A Santa Ana federal judge barred Medical Capital Holdings Inc. from selling additional securities in an offering that has raised at least $76.9 million, in response to a complaint alleging fraud against the Tustin company filed by the Securities and Exchange Commission.
In addition to prohibiting the financial services company from taking in more investor money, U.S.
Posted in Finance Fraud Tags: 5 Million, Accounting Services, Accounts Receivable, Backers, Bookkeeping, Capital Investors, Court Documents, District Judge David, Federal Judge, Healthcare Providers, Investor Dollars, Investor Money, Medical Capital Corp, Medical Provider, Principal And Interest, Santa Ana, Secured Loans, Securities And Exchange, Securities And Exchange Commission, Special Purpose No Comments »SEC Halts $50 Million Ponzi Scheme
July 29th, 2009 Before You Invest The U.S. Securities and Exchange Commission said it halted a $50 million Ponzi scheme near Detroit that raised money for a real-estate investment fund and targeted the elderly.
A federal judge in Michigan agreed to freeze assets after the SEC sued John Bravata, 41, and Richard Trabulsy, 26, claiming they lured more than 400 investors by promising 8 percent to 12 percent annual returns, the agency said today in a statement.
Posted in Finance Fraud Tags: 1 Million, 50 Million, Assets, Bravata, Exotic Vacations, Federal Judge, Ferrari, Gambling Debts, Gillette, Jewelry, Luxury Homes, Maserati, Merri, Mortgage, Prospective Investors, Real Estate Investment, Real Estate Investment Fund, Regional Office, Securities And Exchange, Securities And Exchange Commission No Comments »Indiana Money Manager Mentally Fit For Trial
April 24th, 2009 Before You Invest A troubled Indiana money manager accused of trying to fake his death and escape financial ruin by parachuting before crashing his plane is competent for a June trial, a federal judge ruled Thursday.
U.S. District Judge Roger Vinson ruled Marcus Schrenker, 38, should face trial on charges of intentionally crashing the single-engine Piper Malibu on Jan.
Posted in Finance Fraud Tags: Ala, Apparent Suicide Attempt, Authorities, Autopilot, Business Dealings, Consciousness, Daredevil, District Judge, Federal Judge, Financial Ruin, Gulf Of Mexico, Judgments, Marshy Area, Money Manager, Motorcycle, Neighborhood, Panhandle Campground, Piper Malibu, Prosecutors, Storage Unit No Comments »
