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Kobi Alexander Found in Namibia
According to the Wall Street Jrl here, Kobi Alexander, former Comverse Energy’s CEO has been found in Namibia and now awaits extradition or return to the United States. Although there is no extradition treaty with the US, this does not always mean that the individual cannot be sent to the United States. The Wall St.Jrl…
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Apparently You Can’t Trust Your Summer House Manager, Either
The SEC filed a civil insider trading case against Graham Lefford for using confidential information he gleaned from faxes about a pending deal to buy a company. The faxes were sent to the summer house he managed that was owned by Robert Sillerman, the creator of American Idol, who bought a shell company, Sports Entertainment…
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House Subcommittee Subpoenas Two Former H-P Executives
The hearing on September 28 before the House Energy & Commerce Subcommittee looking into the Hewlett-Packard internal investigation’s use of "pretexting" to obtain private records has become a bit more threatening for two former H-P executives. The Subcommittee issued subpoenas, rather than invitations, to its former ethics officer, Kevin Hunsaker, and a former security chief,…
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Ebbers & Fastow Finally Report to Prison, Campbell Went Immediately
Yesterday Andrew Fastow, who received a sentence of six years despite a plea agreement allowing him to receive ten years, was sent to prison. Also yesterday, Bernie Ebbers, who went to trial and received a 25 year sentence, reported to prison to begin serving his sentence. Both men were given the luxury of waiting a…
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More on Fastow
Some more thoughts on the Fastow sentence: 1. Some may argue that this sentence is another example of why we need strict sentencing guidelines that do not allow for judicial discretion. This is inaccurate. Even with strict guidelines in a pre-Booker world, the court would have had the discretion to give this sentence to Fastow. …
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What the Lay/Skilling Jury Heard From Fastow
Tom Kirkendall’s Houston ClearThinkers has a tremendous post here that includes portions of Fastow’s testimony during the Lay/Skilling trial. One of the pieces of testimony he presents is a part of the re-direct examination by Hueston on March 13th, when Fastow testified as follows: "Q. And as a result of your pledge to cooperate, did…
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Fastow Receives A Six Year Sentence
Cooperation proves very valuable to Andrew Fastow, who received a 6 year sentence today for his activities related to Enron. (See Houston Chronicle here) Although the judge had a 10 year limit, it is perhaps surprising to see the reduction here for such a major player in the Enron case. The Wall Street Jrl here…
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HIPAA Enforcement & Identity Theft
A recent indictment in Florida presents a novel prosecution theory – state identity theft becomes a HIPAA violation. The Indictment charges conspiracy and computer fraud, but also adds a count of wrongful disclosure of identifiable health information. Information is allegedly compromised by a medical clinic’s employee who steals patient information and then allegedly sells this…
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Technology & The Scrushy Jury
Jury deliberations are supposed to be secret. And in most cases what happens in the jury room will stay in that room during the deliberations. But with new technologies, it is not surprising to see new issues developing. According to the Wall Street Jrl here and Guardian Unlimited (AP) here, the court in the Scrushy/Siegelman…
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Fastow to Be Sentenced This Week
Both Andrew and Lea Fastow were indicted. Lea Fastow, the wife of the Enron CFO, plead guilty and served a one year term of imprisonment on a tax charge. (see here). Andy Fastow stayed free during this time, taking care of the children and testifying for the government in the Lay/Skilling trial. (see here). Now…
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