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Subpoenas to DOJ in U.S. Attorney Firing Investigation
The U.S. Attorneys firing fracas will take another turn with the Senate Judiciary Committee authorizing the issuance of subpoenas to five current or former senior-level Department of Justice attorneys to testify at a hearing: Michael Elston, chief of staff for Deputy Attorney General Paul McNulty. Kyle Sampson, recently resigned chief of staff for Attorney General…
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Ten Defendants Convicted in Mortgage Fraud Scheme
A jury in the Northern District of Georgia returned guilty verdicts against ten defendants accused of a mortgage fraud scheme that involved 50 houses and 250 condominiums in the Atlanta area. The lead defendant, Phillip Hill, operated through his company, Pinnacle Development Property, in a series of transactions involving inflated appraisals and straw borrowers that…
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Charges From H-P Pretexting Dropped
The prosecutions brought by California against four defendants for pretexting as part of an internal investigation by Hewlett-Packard have been dropped. Former chairwoman Patricia Dunn had the charges dismissed completely, while the three other defendants, former H-P ethics officer Kevin Hunsaker and private investigators Ronald DeLia and Matthew DePante, will have their charges dismissed after…
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Former CFO Settles SEC Insider Trading Case
The SEC is unleashing its insider trading cases with near abandon, filing and settling a case against the former CFO of a company who was working there as a consultant when he got wind of an impending takeover. Melvyn C. Goldstein was CFO of Del Laboratories, Inc. until he retired in 1997, and he returned…
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Former Peregrine CEO Pleads Guilty
Former Peregrine Systems CEO Stephen Gardner and two other former executives entered guilty pleas to securities fraud charges related to manipulating revenue to make it appear the company was hitting its targets. Gardner was set to go to trial in April on the charges, along with other Peregrine officers, for their role in the accounting…
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That “Overblown Personnel Matter”
It is funny how dismissive phrases have a way of coming back to bite the speaker. Watergate was first described as a "two-bit burglary," and the termination of seven (or eight, depending on the count) United States Attorneys was denigrated as an "overblown personnel matter" by Attorney General Alberto Gonzales. That little bump in the…
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Au Revoir, New Century Financial?
The shake-out in the subprime lending market may well take down mortgage lender New Century Financial, which disclosed that its banks have cut off most of its access to credit, the lifeblood of any financial institution. While executives scramble to prevent a complete meltdown, with the company’s shares having lost most of their value and…
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Just Bad Timing & The Emails
The departure of the US Attorney for Tampa appears to just be coincidental to have occurred in the midst of the recent uproar about US Attorneys leaving different offices (see here, here, here, here, and here). TBO.Com reports on the lucrative offer received by US Attorney Paul Perez. Don’t count on getting more information from…
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Tampa US Attorney Resigns
TBO News reports here that the US Attorney in Tampa has announced his resignation. (esp)
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J & J Having to Contend with Three US Attorneys Offices
Discussed here was Johnson & Johnson’s disclosure regarding improper payments that might be under the purview of the FCPA. But this may be only one issue the company is facing from government action. According to the Wall Street Jrl here, Johnson & Johnson is having to contend with subpoenas from three different U.S. Attorneys Office. …
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