-
SEC Gives Notice of Plans to Sue General Re Executive
Berekshire Hathaway’s quarterly earnings release discloses that the SEC has given a "Wells" notice to a current vice president at its General Re subsidiary that it plans to file civil charges alleging violations of the federal securities laws. The earnings release (here) states: "On May 2, 2005, a Senior Vice President of General Reinsurance received…
-
A Blast From the Past
For aficionados of "classic rock" stations — "old people music" according to one of my teenagers who mistakenly thinks I’m old — it’s always nice to hear an old favorite tune and turn up the volume even higher (the Volokh Conspiracy had a fun listing of "Top Ten Songs By Relatively Obscure Artists" here). Well,…
-
SE White Collar Crime Program
The ABA Criminal Justice Section, White Collar Crime Committee, Southeast Region, sponsored a superb program this morning in Atlanta, Georgia. Co-chairs Marc Garber, Paul Murphy, and Wilmer "Buddy" Parker started the event with a video presentation titled "Lessons from the Front Lines: White Collar Crime Cases After Enron." (My next email will be to…
-
Greenberg in the Crosshairs
The New York Times reports (here) that federal prosecutors are looking at whether former American International Group CEO Maurice Greenberg engaged in market manipulation in AIG shares in February. According to the report, there is a tape of a telephone conversation between Greenberg and a trader at the company in which Greenberg orders the trader…
-
Three Strikes You’re Out! -Update in Scrushy Case
In this blog’s April 6th post here, we talked about the judge’s admonishment to the jury to disregard the prosecutor’s comments regarding WorldCom and Enron. After all, it is pretty obvious that these companies have nothing to do with this case — other than to perhaps get the jury thinking that there is some comparison…
-
Georgia Preacher Receives 17 1/2 Year Sentence
Abraham Kennard, a former preacher who was convicted in February (see earlier post here) for defrauding over 1,600 churches, most of them with small, of over $9 million with promises of high investment returns, received a long term of imprisonment: 17 1/2 years. According to an AP story (here), U.S. District Judge Harold Murphy stated…
-
Military Recruitment Tactics – Are We Dealing With Corporate Criminal Liability?
The tactics of military recruiters have been making the news lately. (e.g. here) CBS, New York Times, and other media are recently reporting about tactics that may reach the level of falsification of documents. The question here is whether this needs to be investigated — the way white collar investigations are usually conducted. Are higher…
-
Defense Department Analyst Charged
The Department of Justice charged a defense department analyst with disclosing classified information. The DOJ, Criminal Division, Press Release states that: "The criminal complaint and an accompanying FBI affidavit, filed at U.S. District Court in the Eastern District of Virginia, alleges that on June 26, 2003, Franklin had lunch at a restaurant in Arlington, Virginia…
-
Greenberg Fires Shot Across AIG’s Bow
Former American International Group CEO Maurice Greenberg fired back with a letter to the board of directors disputing the company’s assertion that former management skirted internal controls and was not forthcoming about certain transactions (see earlier post here with link to AIG’s statement). Greenberg challenges the conclusions drawn from the internal investigation that accounting rules…
-
You’ve Got the Wrong Number!
Would you use a stock tip left on your answering machine by someone who you didn’t know? Would you think it a wrong number and jump at the opportunity? If you would – – think twice. It seems that SEC just filed a suit against telemarketers who they believe were leaving "wrong number" stock tips. …
-
Subscribe
Subscribed
Already have a WordPress.com account? Log in now.
MattBray.net 