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What You Need For a Booker Remand in the First Circuit
The First Circuit issued an opinion today in United States v. Cacho-Bonilla (here) in which it grappled with determining whether the district judge felt sufficiently constrained by the then-mandatory nature of the Guidelines to require a remand for resentencing under the (newly-threatened) discretionary system after Booker. The defendants were convicted of mail fraud, conspiracy, money…
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More Oil-for-Food Program Indictments
The United States Attorney’s Office for the Southern District of New York announced today the unsealing of an indictment of three as-yet unnamed individuals, one from Texas and the others are Bulgarian and UK citizens, along with two companies controlled by the Texan, for paying kickbacks related to the U.N.’s Iraq Oil-for-Food program. This is…
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GW Professor Pleads Guilty to Embezzling Nearly $1 Million From Grants
Former George Washington University engineering professor Nabih E. Bedewi entered a guilty plea on April 13 to embezzling $991,909 provided by federal grants to the National Crash Analysis Center that he founded. Bedewi submitted inflated invoices and had the money funneled through two companies that he owned and one which he controlled, and also paid…
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Lay Opposes Early Bank Fraud Trial and Seeks to Try the Case to the Court
In response to the government’s request for a trial within the next two months on the severed bank fraud/false statement to a financial institution charges (see previous post here), Ken Lay has asked the court to try the bank fraud case together with the larger conspiracy/securities fraud charges next year, but have the judge rather…
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The Delphi Investigation Snares GM
The SEC’s investigation of Delphi has led to its former parent, General Motors, being subpoenaed for records relating to its accounting in two transactions between the company. A Wall Street Journal article (here) describes the subpoenas as relating to a previously disclosed $237 million payment by Delphi to GM related to product recalls, and an…
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UFCW Files Complaint Against Wal-Mart
The United Food and Commercial Workers Union has filed a complaint against Wal-Mart asking the NLRB to investigate allegations that former executive Thomas Coughlin submitted false invoices to finance an anti-union campaign that included secret payments to union officials for information. Coughlin was removed from the Wal-Mart Board of Directors in late March, having retired…
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Mother of Jackson Accuser Asserts Fifth Amendment
For the first — and most likely the last — time, this blog has an item related to the Michael Jackson trial. The mother of the teenager who accused Jackson of molesting him asserted her Fifth Amendment privilege and refused to answer questions about an alleged welfare fraud. Judge Melville permitted her to testify anyway,…
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The Long Journey Against Charles Zandford Ends
Charles Zandford’s battle with the SEC has finally ended with a permanent bar from the securities industry, more than 15 years after he was caught stealing money from the account of a client at the brokerage firm Dominic and Dominic in Annapolis, MD. Zandford was convicted of wire fraud in 1995 for taking money from…
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The Government Indicts Government Agent
No one is above the law? That sounds like what the government is trying to say in its latest indictment, an indictment against "a Special Agent and Chief Division Counsel for the Charlotte Division of the Federal Bureau of Investigation (FBI)." "[A] federal grand jury sitting in the Western District of North Carolina in Charlotte,…
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More on Yesterday’s Indictments of Fifteen Specialists
Yesterday fifteen specialists were indicted. (here) The SEC also "instituted administrative and cease-and-desist proceedings against 20 former New York Stock Exchange specialists for fraudulent and other improper trading practices." (here) Interestingly the alleged improper trades were to enrich their firms. And also of interest is that most are no longer with the firms. Many of…
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