.jpg)
Ravi Persaud, a real estate attorney, and George Esso, a former loan officer, have been found guilty of participating in a multi-million-dollar mortgage fraud scheme through GuyAmerican Funding Corp., a mortgage brokerage located in Queens, New York..jpg)
It looks like Kent Joseph Gockel got what was coming to him: 30 months in federal prison. .jpg)
On Tuesday Aug 31, the Federal Deposit Insurance Corporation will be holding its first roundtable discussion on the implementation of the Dodd Frank Wall Street Reform and Consumer Protection Act. It will focus on the new resolution authority provided in Dodd-Frank for the largest financial firms. .png)
A credit repair operation has agreed to stop making false claims and stop charging up-front fees under a settlement with the Federal Trade Commission. The settlement agreement requires that Clean Credit Report Services, Inc., Ricardo A. Miranda, Ruthy Villabona, and their son, Daniel R. Miranda, give up two cars, three houses, and six commercial properties in Broward and Miami-Dade counties in Florida, and in Bogota, Colombia..jpg)
This year’s Cambridge International Symposium on Economic Crime – the 28th – begins on September 5 in o.jpg)
The Securities and Exchange Commission today charged two former senior accounting professionals at a Milwaukee-based headphone manufacturer with accounting fraud, books-and-records violations, and related misconduct arising from the alleged embezzlement of more than $30 million from the company. .jpg)
Pharmaceutical manufacturer Allergan Inc. has agreed to plead guilty and pay $600 million to resolve criminal and civil liability arising from the company’s unlawful promotion of its product Botox for uses not approved as safe and effective by the Food and Drug Administration (“FDA”)..png)
The Securities and Exchange Commission today issued a report cautioning credit rating agencies about deceptive ratings conduct and the importance of sufficient internal controls over the policies, procedures, and methodologies the firms use to determine credit ratings. .jpg)
An SEC suspension of trading in a stock is a “red flag,” often indicating that the SEC has concerns about the information that the company has been providing to the public. By law, an SEC suspension usually ends after 10 business days, even if the company has not provided current, accurate information about itself. However, when a company does not provide current, reliable information about itself and its finances, trading its shares can.jpg)
An anti-money laundering (“AML”) rule requires broker-dealers to identify and verify the identities of its customers and document its procedures for doing so. Today, the SEC charged Pinnacle Capital Markets LLC with failing to comply with that rule – and it also charged Pinnacle's managing director, Michael A. Paciorek, with causing Pinnacle's violations. .png)
Ronald R. Bassak and his construction company, Meccon, Inc., have admitted in federal district court that he and his company paid a U.S. Postal Service contracting officer approximately $100,000 in bribes to secure contracts for his company. During the investigation, the contracting officer committed suicide. .jpg)
There has been a development in the case that has been called "the largest criminal tax case in American history," Stein v. KPMG, LLP, 486 F.3d 753, 756 (2d Cir. 2007). 
Christopher R. Conte, an Associate Director in the SEC’s Division of Enforcement, will leave the SEC next month after nearly 18 years at the agency to become a partner in the Washington, D.C., office of Steptoe & Johnson LLP. 
Brian V. Breheny, the Deputy Director for Legal and Regulatory Policy in the SEC' Division of Corporation Finance, will depart the agency after more than seven years to become a partner in the Washington, D.C., office of Skadden, Arps, Slate, Meagher & Flom LLP. .png)
U.S. Senator Charles E. Schumer (D-NY) says credit card issuers may be using a "new tactic" to evade the new credit card law..jpg)
Commercial banks and savings institutions insured by the Federal Deposit Insurance Corporation reported an aggregate profit of $21.6 billion in the second quarter of 2010, a $26 billion improvement from the $4.4 billion net loss the industry posted in the second quarter of 2009, the FDIC reported today. This is the highest quarterly earnings total since the third quarter of 2007..jpg)
A federal grand jury has indicted Maryland State Senator Ulysses S. Currie and former Shoppers Food Warehouse Corp. (“SFW”) executives (former president William J. White and former vice president for real estate development R.
age of 89, I find myself and my wife (86) devoid of future hope. I find it hard to believe what he did to us and in addition [to] [sic] all the charities affected by this Bastard.”3 On the day of sentencing, a man who lost all of the funds earmarked for the care of his mentally disabled brother told the court, “I hope his sentence is long enough so his jail cell will become his coffin.”4 .jpg)
Corey N. Johnston has pleaded guilty to operating a Ponzi scheme that defrauded at least 17 lenders in Minnesota and several other states. According to the government’s investigation, the lenders suffered losses in excess of $79 million. 
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