Topic: Corporate Crime
U.S. seeks 335 years for ill Petters in ponzi case
Reuters US Online Report Business News
NEW YORK (Reuters) - Federal prosecutors said Tom Petters should be sentenced to 335 years in prison for running a $3.65 billion Ponzi scheme, while defense lawyers pleaded for mercy, saying their client has a tumor on his pituitary gland. The 52-year-old founder of Petters Group Worldwide Inc was convicted ...
Madoff victims may appeal directly to 2nd Circuit
Reuters US Online Report Domestic News
NEW YORK (Reuters) - The judge overseeing the liquidation of Ponzi schemer Bernard Madoff's investment firm has allowed victims unhappy with his ruling on how to calculate their losses to appeal directly to a federal appeals court. Monday's ruling by Bankruptcy Judge Burton Lifland means shorter waits for victims ...
SEC: Miami couple defrauded Cuban-American elderly
AP News
SEC: Miami couple defrauded elderly Cuban-Americans in $135M real estate investment scamThe Securities and Exchange Commission charged a prominent Miami couple Wednesday with operating a $135 million Ponzi scheme through a real estate investment scam that defrauded hundreds of people, mostly elderly Cuban-Americans. The SEC complaint filed in Miami federal ...
10th guilty plea in Galleon insider trading case
AP News
Largest hedge fund insider trading case ever produces 10th guilty plea in New YorkA former vice president of California chipmaker Atheros Communications has pleaded guilty to insider trading charges. Ali Hariri becomes the 10th person to plead out of the largest hedge fund insider trading case in U.S. history ...
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