-
SEC Sends Notice to Fidelity Trader of Possible Securities Fraud Suit
The former head of stock trading at Fidelity Investments, Scott DeSano, has joined the firm in receiving a notice from the SEC’s Enforcement Division that it intends to recommend to the full Commission that a civil securities fraud suit be filed related to his acceptance of gifts from brokerage firms. DeSano was highly regarded for…
-
No Time for Other Former WorldCom Accounting Manager
Troy Norman, who also plead guilty and cooperated with the government, received no jail time. The Wall Street Jrl reports here that although Betty Vinson received five months in jail and five months of house arrest, Judge Barbara Jones did not give Troy Norman a like sentence. The Assistant United States Attorney apparently argued for…
-
Employees Carry This Decision With You
Every employee should carry a copy of a newspaper article telling the sentence of Betty Vinson a former WorldCom worker. (see BBC article here) She entered the numbers on the books, albeit at the direction of her superiors. It was wrong, but when you work for someone you assume that you have to do as…
-
Prelude to Sullivan Sentence
Today Betty Vinson and Troy Normand are being sentenced. These two individuals worked in the accounting department for Buford Yates (set for sentencing on August 9th) at WorldCom. (see post here) The Wall Street Journal reports here on the sentence of Vinson. The low sentence is not surprising in light of the role this individual…
-
Enron Broadband Trial – Retry?
The government has to make a decision of what to do with regard to the Enron Broadband trial, a trial that ended in not guilty and hung jury verdicts (see post here). Should they retry the case or dismiss? The public is speaking on the Houston Chronicle website poll here (although clearly not a scientific…
-
Lobbyists Charged
On May 4, 2005, Lawrence Franklin, a defense department analyst, was arrested. (see here for background on this case) The indictment against him, unsealed on June 13, 2005, charged him with "communicat[ing] national defense information to persons not entitled to receive it," and conspiracy. Two individuals, who were lobbyists, have now been added to this…
-
SEALS Conference
The blog reports here on the "Corporate and Securities Fraud Update" panel discussion held at the Southeastern Association of Law Schools Conference (SEALS). There was also a Sentencing Panel that examined the afternath of Booker/Blakely. The panel examined new developments in sentencing post- Blakely and how these developments affect federal and state sentencing procedure for…
-
Driving DaimlerChrysler
The Wall Street Journal has an article here titled, "U.S. Probes Allegations Of Bribery at DaimlerChrysler." The issue appears to be whether the Mercedes unit engaged in activities that might be prohibited by the Foreign Corrupt Practices Act FCPA). According to the company web page, sales in the Mercedes division are up (see here). Business…
-
Busted for Yoga
CNN reports here that Martha Stewart has agreed to extend her house arrest for an extra three weeks. The CNN story states that, "[t]he New York Post reported over the weekend that Stewart, …may have violated the rules of her probation by riding around her suburban New York estate on a Kawasaki Mule four-wheel drive…
-
NY Stockbroker pleads
Big spending, a lavish home, and defrauding high profile victims is a sure recipe for being indicted. And when the evidence is the kind that will not play well to a jury, especially in New York, it is not surprising to see a plea being entered. AP reports here of a plea being entered by…
-
Subscribe
Subscribed
Already have a WordPress.com account? Log in now.
MattBray.net 