Tag: FBI
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FBI Arrests 14, Including 2 Lawyers, In Major Insider-Trading Probe; SEC Says Attorneys Provided Tips For Kickbacks In Latest Scandal That Rocks Wall Street
As the FBI and IRS executed search warrants at the Florida office of attorney Scott Rothstein this morning amid allegations he ran a covert Ponzi scheme that could have drained as much as $500 million from investors, prosecutors up north were concentrating on arresting lawyers in a separate case involving insider trading on Wall Street.…
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‘PRINTER’ PONZI: FBI Says Man Ran $28 Million Scheme Based On Bogus Sales Of High-Speed Commercial Printers
UPDATED 8:28 P.M. EDT (U.S.A.) Minneapolis/St. Paul has Tom Petters, accused of operating a $3.65 billion Ponzi scheme by deceiving investors into thinking they were financing his company’s purchase of electronics that later would be sold to Wal-Mart and other huge retailers. And now Chicago has Matthew Scott, whom investigators described as a sort of…
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OBSTRUCTION: Howard Richman Gets 3 Years In Prison For Lying To Federal Judge, SEC; Charge Resulted From False Cancer Claim In Bid To Derail Civil Case
UPDATED 12:45 A.M. EDT (U.S.A. OCT 6) A former executive at Biopure Corp. has been sentenced to three years in prison for lying to a federal judge and obstructing an SEC investigation by claiming falsely that he was suffering from colon cancer. Howard Richman, 57, also was sentenced to three years’ supervised probation after his…
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BREAKING NEWS: Arrests Made In Westridge Capital Management Case; FBI Alleges Massive Fraud
UPDATED 7:18 P.M. EST (U.S.A.) The FBI has made arrests in the Westridge Capital Management case. Paul Greenwood and Stephen Walsh, principals in WCM and an arm known as WG Trading of Greenwich, Conn., both were arrested. WCM is headquartered in Santa Barbara, Calif. Greenwood and Walsh were arraigned this afternoon in New York. Bail…