wire fraud

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State Department Spy for Cuba Sentenced to Life

Walter Kendall Myers, 73, confessed to espionage, wire fraud

(Newser) - A 73-year-old retired State Department employee who was also a spy for Cuba for almost 30 years was sentenced to life in prison today after pleading guilty to espionage and wire fraud. Walter Kendall Myers was also fined $1.7 million—including the money he was paid as a government...

Palin Hacker Found Guilty on 2 Counts

David Kernell convicted of obstruction of justice, unlawful email access

(Newser) - A federal jury has convicted a 22-year-old former University of Tennessee student of hacking Sarah Palin's Yahoo email account during the 2008 campaign. David Kernell was acquitted of wire fraud but convicted of a felony, obstruction of justice, and a misdemeanor, unlawful computer access. The jury failed to reach a...

NY Lawyer Pleads Guilty to $400M Fraud

Dreier bilked clients, spent cash on yacht and beach houses

(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...

Madoff to Plead Guilty on 11 Counts, Faces 150 Years

(Newser) - 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.

Polaroid Files for Bankruptcy a Second Time

Photography icon blames fraud at parent company

(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...

Email May Toast Arrested Bear Fund Managers

Pair faces charges of misleading investors in $1.6B collapse

(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...

Renzi Should Step Down, House GOP Leader Says

GOP doesn't want to weather another scandal

(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...

Brit Enron Bank Grafters Plead Guilty

'Natwest Three' confess to fraud charge in plea bargain

(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...

Pentagon Spent $1M on 2 Washers

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

(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'...

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