Skip to: Content
Skip to: Site Navigation
Skip to: Search
MONDAY, NOVEMBER 23, 2009
| Subscribe to Newser's RSS feeds RSS | Follow Newser on Twitter Twitter

NEWS ABOUT: wire fraud

wire fraud stories: 7 news summaries

 NY Lawyer 
 Pleads Guilty 
 to $400M Fraud 

Dreier bilked clients, spent cash on yacht and beach houses

May 12, 09 8:34 AM CDT
(Newser) - New York lawyer Marc Dreier pleaded guilty yesterday to selling hundreds of millions in bogus promissory notes to hedge funds and other clients, reports the Times. Dreier, 59, used the $400 million to fund a Manhattan apartment, beachfront houses, and an $18 million yacht. “He has disgraced the honorable... More »

MORE ABOUT:
fraud • hedge fund • conspiracy • money laundering • wire fraud • securities fraud • hedge funds • Marc Dreier • Jay-ZTV

(AP) - Bernard Madoff's lawyer told a judge today his client will plead guilty later this week to 11 counts including money laundering, perjury and securities, mail and wire fraud. Prosecutors say the disgraced money manager will face up to 150 years in prison on the charges. More »

MORE ABOUT:
Federal Court • money laundering • perjury • guilty plea • wire fraud • Ponzi scheme • attorney • securities fraud • conflict of interest • Bernard Madoff • mail fraud • Bill Maher Grid

Polaroid Files
for Bankruptcy
a Second Time

Photography icon blames fraud at
parent company

Dec 19, 08 12:08 PM CST
(Newser) - Polaroid is blaming fraud at its parent company for its second bankruptcy filing in 7 years, Bloomberg reports. The instant photography pioneer says it has “ample cash reserves” and doesn’t expect to seek additional financing under Chapter 11 reorganization. But the Petters Group, which acquired the 71-year-old firm... More »

MORE ABOUT:
bankruptcy • digital photography • money laundering • wire fraud • Polaroid

Email May Toast Arrested Bear Fund Managers

Pair faces charges
of misleading investors in $1.6B collapse

Jun 19, 08 10:16 AM CDT
(Newser) - 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... More »

MORE ABOUT:
Bear Stearns • hedge fund • indictment • wire fraud • securities fraud • financial crisis

Renzi Should Step Down, House GOP Leader Says

GOP doesn't want to weather another scandal

Feb 23, 08 8:04 AM CST
(Newser) - House Minority Leader John Boehner is pressuring Rep. Rick Renzi, indicted yesterday for extortion, money laundering, and fraud in connection with an Arizona land deal, to step down, urging his fellow Republican "to seriously consider whether he can continue to effectively represent his constituents under these circumstances.” Boehner... More »

MORE ABOUT:
Congress • FBI • Arizona • GOP • House of Representatives • extortion • money laundering • John Boehner • wire fraud • federal indictment • Rick Renzi • political scandal

Brit Enron
Bank Grafters
Plead Guilty

'Natwest Three' confess to fraud charge
in plea bargain

Nov 29, 07 3:12 AM CST
(Newser) - 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... More »

MORE ABOUT:
sentencing • extradition • wire fraud • Enron • Natwest Three

Pentagon Spent $1M on 2 Washers

Crafty twin sisters bilked government out of $20.5 million over 6 years

Aug 16, 07 2:34 PM CDT
(Newser) - 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'... More »

MORE ABOUT:
Pentagon • money laundering • C and D Contractors • washers • wire fraud

7 Stories


from our news partners