(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 began investigating investor complaints about missing money. U.S.
Posts Tagged ‘Wire Fraud’
19 indicted in ‘massive cybercrime conspiracy’ – dallasnews.com – 9 Jan 2010
January 13th, 2010
Before You Invest U.S. prosecutors indicted 19 people Friday – most in Dallas and Fort Worth – on charges related to a “massive cybercrime conspiracy” that they said defrauded local telecommunications companies and other merchants of $15 million worth of services and goods.
The indictments follow raids by the FBI last year on two data hosting companies where computer servers were taken on suspicion of fraudulent activity.
Lawyer Scott Rothstein Pleads Not Guilty To Ponzi Scheme Allegations
December 1st, 2009
Before You Invest A once high-flying attorney who courted politicians and celebrities was arrested Tuesday on federal racketeering and fraud charges alleging he operated a $1 billion investment scheme involving phony legal settlements.
Lawyer Scott Rothstein was led into the Miami FBI office in handcuffs following his early morning arrest on five charges, including a violation of the Racketeer Influenced and Corrupt Organizations, or RICO law, often used against the Mafia and other criminal organizations.
Rothstein was also charged with wire fraud, money laundering, and mail and wire fraud conspiracy. The combined maximum prison term for convictions on all counts is 100 years, according to court documents.
A few hours after his arrest, Rothstein pleaded not guilty in federal court even though the information charging document — rather than an indictment — used by prosecutors typically means a defendant has agreed to eventually plead guilty.
Former Stratton Oakmont Executive Charged in Securities Fraud Case
November 25th, 2009
Before You Invest Irving Stitsky, a former executive at Stratton Oakmont, along with Mark Alan Shapiro and William B. Foster, have been found guilty of committing securities fraud. The crime involved more than 150 investors who together entrusted Stitsky with $18 million.
The three convicted perpetrated their illegal activity under an umbrella corporation known as, “Cobalt.” The company claimed to acquire and develop real-estate properties, some of which were never under its ownership.
Prosecution begins Opening Statements in Case Against Former Bear Sterns Hedge Fund Managers
October 15th, 2009
Before You Invest Opening statements by the prosecution began today in the trial of one time Bear Stern employees Ralph Cioffi and Matthew Tannin. The former hedge fund managers are the first to be tried in connection with a federal probe into the subprime market collapse.
The men are charged with misleading clients who invested into two separate hedge funds that collapsed.
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