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Government Gets $130 Million in Civil Case
The U.S. Attorneys Office in the Southern District of New York announced in a press release here, that it reached a civil settlement with Mario Gabelli for $130 million. This civil case emanates from a whistleblower. According to the government press release: "the complaint alleges various friends and relatives of Mr. Gabelli were recruited to…
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Former Merrill Lynch Analyst Pleads Guilty
According to the Wall Street Journal here, a former Merrill Lynch analyst has plead guilty to insider trading. Prosecutors have been investigating this insider trading ring (see prior post here), an investigation concerning the alleged passing of information to two Goldman Sachs employees. Like so many cases these days, the investigation has international aspects. (esp)
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Pleas for Two Former Kodak Employees
Two former employees of Kodak have now plead guilty in a kickback scheme. According to a Press Release here of the U.S. Attorneys Office of the Western District of New York, this is the culmination of a joint postal and FBI investigation. The press release states: "During the years 1997 through 2000, the inflated contracts…
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Plame Files Civil Action
According to Smoking Gun here, Valerie Plame Wilson and Joesph C. Wilson IV have filed a civil action against Karl Rove, Lewis "Scooter" Libby, Richard Cheney and John Does 1-10. The action is for alleged First and Fifth Amendment Violations, Civil Rights Conspiracy, Failure to Prevent Civil Rights Violations, Public Disclosure of Private Facts, and…
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Two Upcoming White Collar Crime Conference Calls
National Association of Criminal Defense Lawyers (NACDL) – Conference Call Topic: Fighting Back Against the Thompson Memo: Can It Be Done? — The Implications of U.S. v. Stein (KPMG). Includes a Q & A Session. Date & Time: Friday, July 21, 2006 — 12:30 p.m. EST Speakers: Gerald B. Lefcourt & John "Rusty" Wing Details: See…
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KPMG Draws a Line in the Sand
Well-known white collar defense attorney Bob Bennett, lead counsel for KPMG, asserted in response to a request by sixteen of the defendants in the U.S. v. Stein prosecution who are former partners and employees of the firm that his client will not pay their attorney’s fees, resisting the "suggestion" of U.S. District Judge Lewis Kaplan…
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Bonds Is on Indictment Watch
The personal attorney for San Francisco Giants slugger Barry Bonds, Laura Enos, expects her client will be indicted in the next week on perjury and tax evasion charges. An AP story (here) quotes Enos as stating, "We are very prepared . . . We have excellent tax records and we are very comfortable that he…
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Hospice Care Provider Settles Medicare Fraud Case
Hospice care provider Odyssey HealthCare agreed to pay $12.9 million to settle civil fraud claims that it overbilled Medicare. The company was accused of billing for services for non-terminally ill patients who were not eligible for payments under Medicare rules. Odyssey agreed to enter into a Corporate Intergity Agreement with the Department of Health and…
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SEC Investigating Suspicious Trades in Western Gas and Kerr-McGee Call Options
The "free money" that can be made when trading in the options of a company about to be acquired is just too darn tough to resist, at least for some. On the heals of last month’s SEC filing alleging insider trading by purchasers of call options in Maverick Tube right before it announced it would…
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More Swag Goes On the Block
An earlier post (here) discussed the July 15 auction of the property of former Patterson-UTI CFO Jody Nelson to recover some of the $77 million he embezzled from the company. Some of the property of Kirk Wright, founder and former CEO of hedge fund firm Investment Management Associates (IMA), will go on the block on…
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