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July 25, 2008 8:41:17 AM CDT

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Stories related to: wire fraud

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4 Stories

  • June 2008

    • Email May Toast Arrested Bear Fund Managers

      newser  |  Wall Street Journal  |  Jun 19, 08 10:16 AM CDT

      Email May Toast Arrested Bear Fund Managers

      A pair of former Bear Stearns hedge-fund managers arrested today on federal fraud charges could be done in by an email in which one described their market position as "toast"—days before telling investors it was "quite comfortable." Matthew Tannin and Ralph Cioffi will be indicted later today in a collapse that cost investors $1.6 billion, the Wall Street Journal reports. More »

      Tags

      Bear Stearns  • hedge fund  • indictment  • securities fraud  • wire fraud

  • February 2008
  • November 2007

    • Brit Enron Bank Grafters Plead Guilty

      newser  |  Guardian (UK)  |  Nov 29, 07 3:12 AM CST

      Brit Enron Bank Grafters Plead Guilty

      Three British bankers confessed to an Enron scam in Texas yesterday, admitting to a single charge of transatlantic wire fraud as part of a plea bargain. They'll now have to pay back the $7.3 million the scam netted. The "Natwest Three" said in a statement they hoped this would be the first step in ending their "ordeal." More »

      Tags

      sentencing  • extradition  • Enron  • wire fraud

  • August 2007

    • Pentagon Spent $1M on 2 Washers

      newser  |  Bloomberg  |  Aug 16, 07 2:34 PM CDT

      Pentagon Spent $1M on 2 Washers

      Twin sisters at a parts supplier scammed the Pentagon out of $20.5 million in fraudulent  shipping costs, including $998,798 they charged to ship two 19-cent washers and half a mil to ship three machine screws to Iraq. The Pentagon took six years to catch on to the sisters' tricks: Apparently bills marked "priority" were paid automatically. More »

      Tags

      Pentagon  • money laundering  • wire fraud

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