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Zealous Legal Advocacy or Criminal Conspiracy?
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January 29, 2012 @ 3:08 pm |
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by Brian Mahany
A recent Reuters article sheds light on how Sir Allen Stanford was able to avoid detection and arrest for well over a decade. When finally arrested in 2009, Stanford was believed to have presided over one of the largest Ponzi schemes ever - $7 billion in misappropriated funds. Unlike the Madoff case where much of the money will be recovered and distributed to victims, Stanford’s victims are likely to see very little. Now, published reports say lawyers and law enforcement officers may have helped him hide his criminal empire.
According to the Reu...
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RRBDlaw.com : Closing the calendar on FINRA's 2011 Cases of Note
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January 29, 2012 @ 7:15 am |
Updated FINRA Cases of Note Now Online With Bill Singer's AnalysisFINRA cites a growing number of Annual Compliance Certification violations in 2011, and December saw an unusually large sample.2011 saw numerous Promissory Note cases -- both those involving loans to stockbroker from their firms, and those involving the sale of such instruments by stockbrokers to their clients.If you don't have sufficient funds to cover that check you wrote, it's going to come bouncing back as "NSF". Bet you didn't realize that this could become a FINRA regualtory matter. If you were involved in selling ......
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Different takes on risk assessment
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January 29, 2012 @ 4:01 am |
When I boarded the Costa Concordia for a Mediterranean cruise in October 2009, I never considered the possibility of being on a sinking ship — much the way many investors never considered that a bear market could decimate their retirement nest egg....
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Conspirator In Conn. Ponzi Scheme Gets 14 Months
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January 27, 2012 @ 3:34 pm |
A federal judge on Friday sentenced a Venezuelan man to 14 months in prison after he admitted to hindering a U.S. Securities and Exchange Commission investigation of a Ponzi scheme by Connecticut hedge fund adviser Francisco Illarramendi....
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SEC Deputy Inspector General to Serve as Agency’s Interim Inspector General
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January 27, 2012 @ 3:25 pm |
FOR IMMEDIATE RELEASE
2012-20
Washington, D.C., Jan. 27, 2012 — The Securities and Exchange Commission announced today that Noelle Maloney will serve as interim Inspector General for the agency following the departure of Inspector General H. David Kotz to join a private investigative services firm. Mr. Kotz’s last day at the Commission was Friday, Jan. 27.
Ms. Maloney will head the SEC’s Office of Inspector General (OIG) while the Commission searches for a permanent head. The 2010 Dodd-Frank Act requires the Inspector General to report t...
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SEC Can Pursue Late Billionaire Wyly's Heirs For $50M
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January 27, 2012 @ 3:05 pm |
A New York federal judge on Friday allowed the U.S. Securities and Exchange Commission to pursue the family of late billionaire Charles Wyly to recover approximately $50 million in alleged fraudulent earnings, saying they should not benefit from his insider trading....
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In-House Accounts May Stop Insider Trading, 9th Circ. Hears
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January 27, 2012 @ 2:11 pm |
A financial industry group urged the Ninth Circuit on Thursday to uphold a ruling for Morgan Stanley Smith Barney LLC letting brokerage firms require employees to keep personal trading accounts in-house, saying the policy is needed to help detect violations like insider trading....
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Ex-McKesson Chair Asks High Court To Toss Guilty Verdict
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January 27, 2012 @ 1:58 pm |
Convicted securities fraudster Charles McCall, the former chairman of health care company McKesson Corp., this month asked the U.S. Supreme Court to overturn his 2009 jury verdict, claiming a lower court judge improperly instructed the jury to consider whether McCall "recklessly disregarded" warnings about accounting improprieties at the company....
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