Fraud & Financial Crimes. Legal news and articles for January 25 - 26, 2012

Details Emerge of New Financial Fraud UnitPA mom gets 8 years for $1M fraud that prompted carjacking hoax, calls crimes ...Why President Obama Loaded His State of the Union With Small InitiativesMore Caution and Skepticism About Federal Mortgage “Investigation”Derivatives Bills, Greenlight Capital, Baer: ComplianceHouse Derivatives Bills, Greenlight Capital, Baer: ComplianceStanford Invented Offshore Bank's UK Insurer, Prosecutor SaysGeithner reiterates and rebutsCharges laid against directors of failed Gisborne finance companySFO lays 92 charges against Rockforte Finance directorsObama Widens Jihad On LendersFinancial Crimes Unit Announced By Obama Reminds Some Of His Financial Fraud...Are Schneiderman and Liberal Groups Selling Out to Obama on Bank Fraud?Stanford Invented Insurance Company for Bank Depositors, Prosecutor SaysFinancial Crimes, Trade Enforcement Targeted in State of the Union

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Seniors: Beware of Scams
Patch.comJanuary 4, 2012

Financial scams targeting seniors have become so prevalent that they're now considered “the crime of the 21st century.” Why? Because seniors are thought to have a significant amount of money sitting in their accounts. Financial scams also often go ...more »

Lake County deputy sheriff died after suspected heart attack
Orlando SentinelJanuary 4, 2012

He worked in the patrol and special investigations divisions and the tactical unit before he moved in 2010 to the financial crimes unit to tackled fraud and scam cases. He recently was investigating a man who had ripped off an elderly Tavares couple in ...more »

Fraud & Financial Crimes. News and Stories

Details Emerge of New Financial Fraud Unit
Huffington PostJanuary 26, 2012

The new Financial Crimes Unit announced by President Barack Obama during Tuesday's State of the Union address will have the power to investigate mortgage fraud going back at least 10 years. The new unit could jeopardize the negotiations now taking ...more »

PA mom gets 8 years for $1M fraud that prompted carjacking hoax, calls crimes ...
Washington PostJanuary 26, 2012

Sweeten steered many of Carlitz's paychecks to her own bank account. Carlitz didn't miss them because her husband at the time was wealthy, she testified. Sweeten also stole settlement money owed to clients, then stole from her family when the clients ...more »

Why President Obama Loaded His State of the Union With Small Initiatives
Daily BeastJanuary 26, 2012

... at least three more in his State of the Union address: a Veterans Job Corps to help communities hire vets as cops and firefighters, a Trade Enforcement Unit to put more heat on China, and a Financial Crimes Unit to ferret out fraud on Wall Street.more »

More Caution and Skepticism About Federal Mortgage “Investigation”
Business InsiderJanuary 26, 2012

... Securities and Exchange Commission (SEC) Chairwoman Mary Schapiro today announced that President Barack Obama has established by Executive Order an interagency Financial Fraud Enforcement Task Force to strengthen efforts to combat financial crime.more »

Derivatives Bills, Greenlight Capital, Baer: Compliance
BusinessWeekJanuary 26, 2012

The latter two bills, which would amend the 2010 regulatory law, were approved in November by the Financial Services Committee, which shares jurisdiction over the $708 trillion global over-the-counter swaps market. The measures approved yesterday, ...more »

House Derivatives Bills, Greenlight Capital, Baer: Compliance
BusinessWeekJanuary 26, 2012

Tom Green, Syron's attorney at Sidley Austin LLP in Washington, said in December there was “no uniform definition” of subprime in 2007 and that Freddie Mac included in its disclosure tables information detailing credit risks. William Baer, whose law...more »

Stanford Invented Offshore Bank's UK Insurer, Prosecutor Says
BusinessWeekJanuary 26, 2012

She said she was surprised by the loans, as Stanford had promised investors and employees that the bank didn't make commercial loans and invested solely in high-grade liquid assets. The document said the financier personally borrowed $13.5 million ...more »

Geithner reiterates and rebuts
Charlotte ObserverJanuary 26, 2012

The night before, President Barack Obama dealt at length with the financial industry in his State of the Union address. Among numerous proposals, the president announced creation of a Financial Crimes Unit to deal with large-scale fraud and an abusive ...more »

Charges laid against directors of failed Gisborne finance company
National Business ReviewJanuary 26, 2012

The Serious Fraud Office has laid 92 criminal charges against the three directors of failed Gisborne finance company Rockforte Finance. Nigel Brent O'Leary and Colin Mark Simpson each face 34 charges, and John Patrick Gardner faces 24 charges under the ...more »

SFO lays 92 charges against Rockforte Finance directors
New Zealand HeraldJanuary 26, 2012

The Serious Fraud Office has laid a total of 92 criminal charges against the three directors of failed Gisborne finance company Rockforte Finance, which collapsed with deposits guaranteed by the Crown retail deposit guarantee scheme and whose ...more »

Obama Widens Jihad On Lenders
Investor's Business DailyJanuary 25, 2012

"We will establish a Financial Crimes Unit of highly trained investigators to crack down on large-scale fraud," Obama said. "I am asking my attorney general to create a special unit of federal prosecutors and leading state attorneys general to expand ...more »

Financial Crimes Unit Announced By Obama Reminds Some Of His Financial Fraud...
Huffington PostJanuary 25, 2012

In his State of the Union address on Tuesday night Obama announced the formation of the Financial Crimes Unit, which will include a "special unit of federal prosecutors and leading state attorneys general to expand our investigations into the abusive ...more »

Are Schneiderman and Liberal Groups Selling Out to Obama on Bank Fraud?
Huffington PostJanuary 25, 2012

"We already have a Financial Crimes Unit," I said about the speech. "It's called the Justice Department (and) it indicted more than 1000 people after the Savings & Loan crisis." The Administion's lack of prosecutions has been inexcusable.more »

Stanford Invented Insurance Company for Bank Depositors, Prosecutor Says
BloombergJanuary 25, 2012

R. Allen Stanford incorporated his own UK business and told a financial adviser it was insuring his first offshore bank, a federal prosecutor said at the financier's fraud trial. Assistant US Attorney William Stellmach made that claim today while ...more »

Financial Crimes, Trade Enforcement Targeted in State of the Union
The BLT: Blog of Legal Times (blog)January 25, 2012

Obama in his speech called on Attorney General Eric Holder Jr. to create a special unit of federal prosecutors and state attorneys general to expand investigations into "the abusive lending and packaging of risky mortgages that led to the housing ...more »

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