Law Blog
Stay informed of the latest announcements relating to financial fraud law.
Thu, 06/24/2010 - 11:17am
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Thu, 06/24/2010 - 11:11am
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Thu, 06/24/2010 - 10:51am
Thu, 06/24/2010 - 8:41am
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The federal government has filed two complaints seeking the civil forfeiture of approximately $5 million in assets controlled by Annette Bongiorno and Joann Crupi. Don’t know who they are? Well, as alleged in the complaints, they both spent more than 25 years working for Bernard L. Madoff Investment Securities LLC (“BLMIS”), the fraudulent investment advisory business owned and operated by Madoff.
Thu, 06/24/2010 - 6:54am
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David S. Krakoff, former co-leader of Mayer Brown’s White Collar Litigation Practice, and partner Christopher F. Regan of Mayer Brown have joined BuckleySandler as partners. These are the second and third recent major additions to the BuckleySandler criminal and civil enforcement practice – Samuel J. Buffone, former co-head of the Government Enforcement Practice Group at Ropes & Gray, moved here the other month.
Wed, 06/23/2010 - 4:50pm
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The New York State Attorney General’s office (yes, with Andrew Cuomo still in charge – until he becomes the state’s governor) has sent more than 180 cease-and-desist letters to mortgage rescue companies with customers in New York, warning them to immediately end all misleading and illegal conduct.
Wed, 06/23/2010 - 1:16pm
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Although there is plenty of blame for the BP Gulf disaster to go around, a lot of it has focused on the Minerals Management Service, which was responsible for overseeing oil and gas development on the Outer Continental Shelf. Secretary of the Interior Ken Salazar has renamed the MMS the “Bureau of Ocean Energy Management, Regulation and Enforcement.” More importantly, though, Salazar has just named former Justice Department Inspector General Michae
Wed, 06/23/2010 - 12:35pm
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The Financial Crimes Enforcement Network (“FinCEN”) today released its 14th edition of the “SAR Activity Review – By The Numbers,” which covers suspicious activity reports (“SARs”) filed in 2009. The report shows that the total number of all SARs filed by financial institutions declined from 1.29 million in 2008 to 1.28 million in 2009.
Wed, 06/23/2010 - 7:38am
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We are officially in Summer now, and the weather forecast is hot. Perfect for a long beach weekend. Which is just what East Hampton, the playground of the rich and well connected, offers to residents and visitors alike. However, according to the local district attorney, Thomas J.
Tue, 06/22/2010 - 2:47pm
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An investment adviser in Palm Beach Gardens, Florida, and two of its managing members, have been charged with fraud for running a Ponzi scheme and stealing client funds. The SEC alleges that Trade-LLC and its managing members, Philip W.
Tue, 06/22/2010 - 12:13pm
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Conviction on financial fraud charges is going to put Sholom Rubashkin in prison for 27 years, a federal judge in Iowa has indicated. The case has attracted the attention of a number of former Attorneys General and federal prosecutors, who, as we reported in April, cautioned about an excessive sentence for the defendant. His lawyers have suggested that a 27 year term is excessive for the 51 year old defendant.
Tue, 06/22/2010 - 10:11am
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An intermediate appellate court in New York has upheld arbitration awards against a stock trader and Lehman Brothers in favor of three investors in the principal sums of $600,000, $600,000 and $1.3 million, respectively. The investors essentially claimed the stock trader had engaged in fraudulent "churning" activities, in which Lehman Brothers was complicit.
Mon, 06/21/2010 - 5:10pm
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The Commodity Futures Trading Commission (“CFTC”) has filed an action in federal court in Austin, Texas, charging Richard D. Theye and his company, Micind Capital Management, Inc., with fraud in connection with running a multi-million dollar Ponzi scheme. The CFTC also filed a motion for a statutory restraining order (“SRO”) to freeze the defendants’ assets and prohibit the destruction of books and records.
