SEC had probed Stanford’s dealings for more than 3 years before Madoff scandal, watchdog saysWASHINGTON — The Securities and Exchange Commission had been actively investigating the banking business of billionaire R. Allen Stanford for more than three years before Bernard Madoff’s Ponzi scheme came to light last December and has fulfilled its duty to pursue alleged wrongdoing by the financier, the agency’s inspector general has found. SEC accuses Phoenix-based company of orchestrating large mortgage lending scamLOS ANGELES — The Securities and Exchange Commission has charged four people and a Phoenix-based company with securities fraud for orchestrating a mortgage lending scam that raised nearly $200 million from investors. Attorney: ‘Ghosts of Mississippi’ judge Bobby DeLaughter to plead guilty to lying to FBI agentJACKSON, Miss. — A Mississippi judge known for successfully prosecuting a white supremacist decades after a civil rights-era killing will plead guilty to lying to an FBI agent investigating judicial corruption, the judge’s attorney said Tuesday. US willing to drop fraud charge against man at center of 2003 botched Detroit terror trialDETROIT — A North African immigrant once put on trial in Detroit for terror-related charges made a deal Tuesday to close a case of alleged insurance fraud. Feds charge 41 in Fla. mortgage fraud schemes involving $40 million in 6 different casesMIAMI — Federal prosecutors say 41 people have been charged in the latest round of South Florida mortgage fraud schemes. Iran’s industry minister found guilty of fraud in embarrasment to AhmadinejadTEHRAN, Iran — An appeals court found Iran’s industry minister guilty of fraud, newspapers reported Monday, in a new embarrassment for President Mahmoud Ahmadinejad even as he faces new disputes with his own hard-line camp over his government. Kuwait security official: Businessman charged with fraud in the United States commits suicideKUWAIT CITY — A Kuwaiti businessman linked to Citigroup and charged in the United States with fraud committed suicide Sunday, a security official said. Iranian opposition request memorial ceremony for victims of post-election unrestTEHRAN, Iran — The top aide to Iran’s opposition leader says his boss has requested permission from authorities to hold a memorial service for victims of post-election unrest. Kyrgyzstan’s opposition claims widespread election fraud and promises to protestBISHKEK, Kyrgyzstan — Kyrgyzstan’s opposition presented video recordings Saturday that it claims show widespread fraud in the recent presidential election and announced plans for anti-goverment demonstrations. Judge chides former NJ senator for giving up his impartiality, sentences him to 4 yearsTRENTON, N.J. — A former New Jersey state senator convicted of bribery and pension fraud has been sentenced to four years in federal prison. NJ governor calls scale of corruption ‘outrageous’ as 3 mayors among those arrested in sweepNEWARK, N.J. — Officials are decrying political corruption in New Jersey after more than 40 people, among them rabbis and elected officeholders, were arrested in an investigation in which some were accused of laundering tens of millions of dollars and of black-market trafficking of kidneys and fake Gucci handbags. Taking credit card companies to court: Regulations would ban arbitration clausesNEW YORK — When handling consumer disputes, credit card companies have a critical tool for keeping down legal costs: The option to avoid court and go to arbitration. Guilty plea entered by former compliance officer at Connecticut firmNEW YORK — The former chief compliance officer at a Greenwich, Conn.-based securities company has pleaded guilty to conspiracy to commit securities fraud and wire fraud. New York AG sues 35 law firms over debt collection mess, wants 100,000 legal judgments tossedNEW YORK — New York’s attorney general is suing 35 law firms over what he says were botched attempts to collect debts from thousands of people. Ex-compliance boss at Conn. securities firm pleads guilty to conspiracy to commit $131M fraudNEW YORK — The former chief compliance officer at a Connecticut securities company has pleaded guilty to conspiracy to commit securities fraud and wire fraud. Richard Scrushy bank accounts seized in effort to collect money owed HealthSouth stockholdersBIRMINGHAM, Ala. — Richard Scrushy’s bank accounts have been seized in a bid to collect some of the $2.8 billion he was ordered to pay for a fraud that nearly bankrupted Alabama-based HealthSouth Corp. Colorado health board nixes change to medical marijuana useDENVER — Colorado’s state health board has rejected a move to limit suppliers of medical marijuana to helping only five patients at a time. Stanford’s attorneys file appeal of judge’s decision to revoke Texas financier’s bondHOUSTON — Texas financier R. Allen Stanford is not a flight risk and a federal judge’s decision to keep him jailed while awaiting trial on fraud charges should be reversed, his lawyers said in an appeal filed Monday. Judge rules that CIA committed fraud, considers sanctions against ex-chief Tenet and othersWASHINGTON — A federal judge has ruled that CIA officials committed fraud to protect a former covert agent against an eavesdropping lawsuit and is considering sanctioning as many as six who have worked at the agency, including former CIA Director George Tenet. Judge rules CIA committed fraud to protect former covert officer, considers contempt chargesWASHINGTON — A federal judge has ruled that CIA officials committed fraud to protect a former covert agent against an eavesdropping lawsuit and is considering sanctioning as many as six who have worked at the agency, including former CIA Director George Tenet. Mauritania coup leader wins presidency, opposition claims fraudNOUAKCHOTT, Mauritania — Nearly a year after seizing power in a military putsch that ousted Mauritania’s first freely elected leader, Mohamed Ould Abdel Aziz won the presidency Sunday in a landslide vote his opponents decried as a fraudulent “electoral coup.” Mauritanian election results show ex-junta chief in lead, opposition claims fraudNOUAKCHOTT, Mauritania — The former head of the junta that toppled Mauritania’s first freely elected leader had a massive lead Sunday in this Islamic country’s presidential ballot. But his opponents said the poll was marred by fraud and called it an “electoral coup.” Prosecutors file 189 legal actions in nationwide sweep of loan modification consultantsLOS ANGELES — Prosecutors nationwide filed 189 legal actions Wednesday against loan modification consultants accused of bilking homeowners who are desperate to make their mortgage payments more affordable. Feds: Fugitive in NY securities fraud case capturedNEW YORK — Federal authorities say they have captured a former Wall Street broker who became a fugitive after being charged in a securities fraud case. NY trustee: Offshore hedge fund invested with Madoff should have known returns were fraudulentNEW YORK — The trustee overseeing the liquidation of Bernard Madoff’s assets has sued a hedge fund based in the Cayman Islands, claiming it should return $587 million it earned with Madoff to investors wiped out by the disgraced financier’s colossal fraud. Judge to allow victims of Stanford fraud to be heard before exec’s plea deal acceptedHOUSTON — Individuals who believe they are victims of an alleged $7 billion fraud that prosecutors say was perpetrated by Texas financier R. Allen Stanford’s business empire will have a chance to tell their stories at a court hearing next month, a judge ruled Tuesday. Madoff arrives at NC federal prison to begin 150-year sentenceBUTNER, N.C. — Bernard Madoff’s life of luxury is a thing of the past. The disgraced financier blamed for what is believed to be the largest Ponzi scheme in history arrived Tuesday at a federal prison in North Carolina to begin a 150-year sentence in a cell with two bunk beds, a toilet and a sink. Former defense contractor with ties to US Rep. Murtha pleads guilty to fraud, kickback plotPENSACOLA, Fla. — The former chief executive of a defense contractor with ties to Rep. John Murtha pleaded guilty in federal court Tuesday to a kickback scheme and defrauding the Air Force, and promised to cooperate in an ongoing criminal investigation. SEC accuses Lancelot Investment of investing more than $2 billion in alleged Ponzi schemeCHICAGO — Lancelot Investment Management and its owner have been accused by the U.S. Securities and Exchange Commission of aiding a multibillion dollar Ponzi scheme. Massachusetts man pleads guilty to lesser charges in slaying of Conn. millionaire developerSTAMFORD, Conn. — A Massachusetts man has pleaded guilty to manslaughter and conspiracy to commit murder in the 2006 stabbing death of a millionaire Connecticut developer accused of real estate fraud. |
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