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SUNDAY, NOVEMBER 22, 2009
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NEWS ABOUT: white collar crime

white collar crime stories: 14 news summaries

Supreme Court to Hear Enron CEO's Appeal

Jeff Skilling challenges 'honest services' law, says trial was unfair

Oct 13, 09 9:56 AM CDT
(Newser) - The Supreme Court has agreed to hear former Enron CEO Jeffrey Skilling’s appeal of his fraud conviction in connection with the company's collapse. The appeal argues that the federal “honest services” statute, a favorite for prosecutors tackling white collar criminals, is flawed because the government needn’t prove... More »

MORE ABOUT:
Conrad Black • Enron • white collar crime • US Supreme Court • Jeffrey Skilling

(Newser) - Bernie Madoff has reached his destination for the next 150 years or so. Clad in a blue jumpsuit, the fraudulent financier arrived at Butner Federal Correctional Complex in North Carolina just before noon today, ABC News reports. But the 71-year-old can take heart, because he “hit the inmate lottery,... More »

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fraud • North Carolina • federal prison • Ponzi scheme • white collar crime • inmates • Bernard Madoff

Madoff Kin Seek Advice on Life Behind Bars

Bernie's relatives look into former inmate's 'Fedtime 101' course

Apr 13, 09 11:36 AM CDT
(Newser) - Two of Bernie Madoff’s family members have contacted a consultant who teaches a class on life in the slammer, the New York Post reports. Madoff’s niece, a compliance officer at his firm, is “concerned about her safety,” a source told the Post. Shana called a former... More »

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family • federal prison • white collar crime • Bernard Madoff

Illegal Immigrant Cases
Hog Justice's  Resources

Once-federal cases get bounced to state, local officials

Jan 12, 09 11:35 AM CST
(Newser) - A federal focus on prosecuting immigration crimes is killing resources to deal with a wide variety of other cases—meaning those cases go to state and local authorities, often overwhelming them, the New York Times reports. Immigration cases have soared in the past 5 years, while federal prosecution of drugs... More »

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Department of Justice • crime • prosecutor • illegal immigration • white collar crime • federal prosecution

Madoff Shakes NY Real Estate Industry

Scandal jeopardizes dozens of projects; loans may be called in

Dec 18, 08 7:19 AM CST
(Newser) - New York's once booming real estate industry has already been struggling with the recession, but the revelation of Bernie Madoff's $50 billion Ponzi scheme has hit commercial brokers and developers particularly hard. Deals across the city have been put in jeopardy, buyers have withdrawn pledges to purchase, and Madoff investments... More »

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real estate • New York real estate • Ponzi scheme • white collar crime • Bernard Madoff

Web Unravels Around Lawyer Held in Fraud

Allegedly duped victims of millions in tale of deception, bravado

Dec 9, 08 12:11 PM CST
(Newser) - A bizarre case is unfolding around Marc Dreier, the Yale- and Harvard-educated Manhattan attorney arrested Sunday for his alleged involvement in a fraudulent scheme to sell hundreds of millions in forged, phony debt. Investigators contend his scams were nothing more than brazen confidence games in which he leveraged his position,... More »

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fraud • Harvard Law School • white collar crime • forgery • hedge funds

High-Profile Arts Patron Guilty of 12 Fraud Counts

Alberto Vilar cheated investors to pay debts, fund opera companies

Nov 20, 08 8:41 AM CST
(Newser) - Alberto Vilar, the investment banker and one of the world's most generous opera patrons, was convicted yesterday on 12 counts of fraud, Bloomberg reports. Vilar told investors that he was putting their money in safe, government-backed assets; in fact, he bought risky tech stocks on margin, which quickly tanked. Vilar... More »

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philanthropy • fraud • investment bankers • Metropolitan Opera • white collar crime • investment fund • Alberto Vilar

 Feds Charge Brokers 
 in $1B Subprime Fraud 

Credit Suisse pair told clients debt backed by student loans, not risky mortgages: SEC

Sep 3, 08 12:33 PM CDT
(AP) - Federal regulators today charged two Wall Street brokers with defrauding their customers by making more than $1 billion in unauthorized purchases of securities tied to subprime mortgages. The Securities and Exchange Commission alleges the Credit Suisse Securities employees led corporate customers to believe that securities being purchased in their accounts... More »

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fraud • Credit Suisse • white collar crime • subprime crisis

UPDATED

Israel to Proceed Directly to Jail

Fugitive banker loses $500K bail, could get 10 years tacked on 20-year sentence

Jul 3, 08 1:50 PM CDT
(Newser) - A federal judge in New York ordered white-collar fugitive Samuel Israel to start serving his 20-year fraud sentence immediately, the Wall Street Journal reports, and ruled that his $500,000 bail be forfeited. "My hope is it will be applied to the resources taxpayers incurred to find Mr. Israel,... More »

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fraud • New York City • prison • fugitive • bail • white collar crime • federal judges • Samuel Israel

Hedge Fund Fraud Missing; Suicide Possible

Car on NY bridge belonged to exec due yesterday in prison

Jun 10, 08 2:23 PM CDT
(Newser) - Police aren't ruling out suicide as a New York hedge-fund manager due to begin serving a 20-year prison term yesterday remains missing, the Wall Street Journal reports. Police found Samuel Israel's car parked near a bridge over the Hudson, with “Suicide is painless” written in dust on the hood. More »

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suicide • fraud • hedge fund • white collar crime • Samuel Israel • Bayou Group • defrauding investors

 Hedge Fund Fraud 
 Gets 20 Years 

Samuel Israel denied leniency in $400M investor 'ponzi scheme'

Apr 14, 08 4:45 PM CDT
(Newser) - The founder of defunct hedge fund Bayou Group was given a 20-year prison term today for bilking investors out of more than $400 million, Bloomberg reports. Samuel Israel must also pay $300 million in restitution for masterminding a “ponzi scheme” in which investment returns were paid with new investors’... More »

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fraud • prison • hedge fund • Ponzi scheme • white collar crime • Samuel Israel • Bayou Group • defrauding investors

Spitzer Hires Hotshot Lawyer

Beleaguered gov
turns to former
top deputy,
corruption hunter

Mar 11, 08 2:20 PM CDT
(Newser) - Eliot Spitzer needs a lawyer, and luckily, the ex-AG knows a few. Client 9 has put his fate in the hands of Michele Hirshman, his top deputy from his days as New York State's top lawyer. Now a partner at a top-tier New York firm, Hirshman also spent 11 years... More »

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impeachment • Eliot Spitzer • lawyer • white collar crime • Michele Hirshman • Mark Pomerantz • Paul, Weiss, Rifkind, Wharton & Garrison • Public Corruption Unit

SEC Looks Into Countrywide Stock Sales

CEO of nation's largest mortgage lender dumped $130M in stock before crisis hit

Oct 17, 07 10:06 PM CDT
(Newser) - The CEO of troubled mortgage lender Countrywide is under investigation over stock sales, the Wall Street Journal reports. Angelo Mozilo sold at least $130 million this year of stock in a company deeply affected by the subprime mortgage mess; the Securities and Exchange Commission is looking into several aspects of... More »

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insider trading • Countrywide • white collar crime • Angelo Mozilo

Justice Switched Focus to Sex, Terror & Immigrants

Feds back off from mob and white collar crime

Oct 17, 07 5:09 AM CDT
(Newser) - As the Senate Judiciary Committee today considers the nomination of Michael Mukasey as attorney general, data shows a profound shift in focus by the Justice Department over the 7 years of the Bush administration. The prosecution of mobsters, white collar criminals, environmental crimes and civil rights violations have taken a... More »

MORE ABOUT:
immigration • Department of Justice • terrorism • FBI • Senate Judiciary Committee • Robert Mueller • money laundering • Michael Mukasey • environmental offenses • white collar crime • bankruptcy fraud • Transactional Records Access Clearinghouse • Alliance for Justice

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