January 20, 2012
GE Funding Capital Market Services, Inc. agreed to the payment of $70 Million to federal and state agencies to settle claims of arising from municipal bond investigations, according to a report in Law360. The investigation reportedly discovered that the bidding … Continue reading
November 1, 2011
The son of Libya’s former leader, Colonel Muammar Qaddafi, is reportedly in discussions with the International Criminal Court at The Hague. According to reports in the New York Times, Seif al-Islam el-Qaddafi is engaged in indirect discussions with the Court, … Continue reading
October 26, 2011
The Securities and Exchange Commission agreed to settle a civil complaint against Citigroup for $285 million dollars. The complaint arose from the SEC’s investigation into charges that Citigroup had defrauded investors. It was charged that Citigroup constructed a one billion … Continue reading
October 14, 2011
Raj Rajaratman was sentenced to eleven years in federal prison on October 13, 2011. Mr. Rajaratman, the former manager of the Galleon hedge fund, was convicted of fourteen counts of securities fraud and conspiracy earlier this year. Prosecutors argued for … Continue reading
October 11, 2011
The bond fraud case against Provident Capital Indemnity Ltd. intensified with the addition of new money laundering charges. Provident—together with its President (Minor Vargas Calvo) and outside auditor (Jorge Castillo)—were indicted in Virginia Federal Court earlier this year. The defendants … Continue reading
September 19, 2011
According to an article in the New York Times, U.S. Bankruptcy Judge Mary F. Walrath wrote that hedge funds may have received confidential information that was improperly used. Judge Walrath dismissed a proposed settlement in Federal Bankruptcy Court regarding the … Continue reading
August 15, 2011
Stanley Ng was arrested in California on charges arising from the Southern District of New York on August 10, 2011. Mr. Ng, a former manager of Marvell Technology Group, was charged with conspiracy to commit securities fraud and wire fraud … Continue reading
August 14, 2011
The sentencing of Kenneth Marsh, the former president of Gryphon Holdings, was postponed on August 11, 2011 by the U.S. District Court for the Eastern District of New York. Marsh had been arrested in April of 2010 on charges of … Continue reading
August 13, 2011
Joseph Skowron settled the $30 Million insider trading suit brought by the Securities and Exchange Commission, according to an announcement by the SEC on August 10, 2011. Skowron, a former trader for FrontPoint Partners, was alleged to have sold hedge … Continue reading
August 13, 2011
The U.S. Attorney for the Southern District of New York recommended on August 9, 2011 that Raj Rajaratnam be sentenced to as much as twenty four and a half years in prison, the maximum period established in the nonbinding sentencing … Continue reading
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