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Former NFL Kicker Indicted for Insurance Fraud
Former NFL placekicker Ray Wersching was indicted in the Northern District of California on insurance fraud charges for allegedly siphoning more than $8 million in premiums from Farmers Insurance Group through his insurance agency. He is also charged with evading taxes on $3.6 million of income in his agency. Wersching was a kicker for 15…
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Ryan Jury Bogging Down
The jury considering the RICO corruption charges against former Illinois Governor George Ryan and co-defendant Lawrence Warner has finished its eighth day of deliberations, and sent two notes to the judge about having "personal difficulties" in reaching a verdict. To make matters even more complicated, U.S. District Judge Rebecca Pallmeyer dismissed the jury early and…
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SEC Authorizes a Formal Investigation of Mills Corp. Accounting
The Mills Corporation, a real estate investment trust (REIT) specializing in shopping centers, disclosed that the SEC bumpted the Enforcement Division’s inquiry of the company’s accounting up to a formal investigation, which means the Commission staff has subpoena power to compel the production of records and the appearance of witnesses. Mills buried its announcement about…
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City Council Member Will Retain Seat Until Sentencing on Corruption Charges
Philadelphia city councilman Rick Mariano was convicted of 18 of the 22 counts related to accepting over $30,000 from businesses and helping them win city contracts and other favors — he was acquitted of two counts each of mail and wire fraud. The judge ordered Mariano taken into custody immediately for a mental health examination,…
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Cunningham’s Boodle Goes on the Block
Former Congressman Randy "Duke" Cunningham pled guilty to accepting approximately $2.4 million in bribes that included a wide array of antiques, rugs, and home furnishings from defense contractors. Those items will go on the auction block on March 23 in Los Angeles as the government seeks to recover some of the $1.8 million he was…
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Three Samsung Executives to Serve Prison Terms in DRAM Chip Antitrust Prosecution
The government’s wide-ranging investigation of price-fixing in the dynamic random access memory (DRAM)chip market has resulted in three more foreign defendants agreeing to serve prison terms in the United States. Three executives from Samsung, Sun Woo Lee, the senior manager of DRAM sales, Yeongho Kang, associate director of DRAM marketing for Samsung’s U.S. subsidiary, and…
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Philadelphia Charter School Principal Charged with Fraud
The former principal of a charter school in Southwest Philadelphia was indicted on six counts of wire fraud related to submitting inflated student enrollment figures to obtain additional funding. The school closed abruptly in June 2003, before the end of the school year, when its charter was not renewed, and a federal investigation had began…
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FCPA Guilty Plea for Bribery of Diplomats to Certify Liberian Diploma Mill
Saint Regis University graduates beware, your degree is from a diploma mill in Liberia (in case you didn’t know that already). Not to be confused with Regis College in Massachusetts or Regis University in Denver, Saint Regis University was a school purportedly accredited in Liberia, but it turns out that three Liberian diplomats accepted over…
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What Happens When the Compliance Officer Gets Indicted?
The Wall Street Journal here notes the latest indictments in the "squawk box" cases. The four new indictments concern the internal audio system used on Wall Street and alleged abuses by individuals who were to have "paid cash or padded commissions to brokers" for access to their squawk boxes. The four individuals, employed by A.B.…
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Former Mayor Bill Campbell Seeks Reversal
Despite being found not guilty of all but the tax counts, the Atlanta Journal Constitution reports here that the government seems to be trying to use something on a verdict form (not sure exacly what from the story) as a basis for increasing the sentence that former Atlanta Mayor Bill Campbell might receive at his…
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