-
The Second Time is Even Better
The Securities Litigation Watch blog noticed (here–including the dialog from a great scene with Nicholas Cage in Raising Arizona, an all-time underrated movie) an SEC settlement on March 3 involving Richard DeBoe and one Peter N. Brant, who the SEC Litigation Release noted was a recidivist. Showing great recall, the author, Bruce Carton, remembered the
-
Do People Think E-Mail Doesn’t Exist?
The firing of Harry Stonecipher yesterday as CEO of Boeing for his affair with a company executive was triggered by an anonymous tip that included a "very graphic" e-mail Stonecipher sent to the woman. Somehow, the e-mail made it out to a broader audience — is anyone surprised about that? — and reached the company’s
-
Scrushy Trial Resumes
The prosecution of Richard Scrushy enters its seventh week with the continuing cross-examination of Michael Martin, the third of five former CFOs who will testify for the government that Scrushy knew about and directed the accounting fraud at the company. Martin is known for having a rather strong temper, including punching another HealthSouth employee in
-
After-the-Fact Mailings for Mail Fraud Prosecution
An area fraught with contradictory opinions in mail fraud prosecutions concerns whether mailings that occur after the defendant gains the benefits of the fraudulent scheme are sufficiently "in furtherance" to bring the case within Section 1341. A recent Fourth Circuit decision, United States v. Pierce (here), involves a 2-1 decision in which the majority found
-
Look What Sarbanes-Oxley Has Wrought
The Sarbanes-Oxley Act requires corporate counsel and directors to investigate all reports of potential wrongdoing at a corporation, and an anonymous tip appears to have led to the removal of Boeing CEO Harry Stonecipher because he was having an affair with another Boeing executive. A press release issued by the company (here) discusses an investigation
-
More Settlements by WorldCom Bond Underwriters
At the end of last week, more investment banks agreed to settle claims by purchasers of WorldCom bonds underwritten by the firms before the company’s collapse in 2002. On Thursday, March 3, Bank of America agreed to pay $460 million to the claimants, and on Friday, March 4, four more investment banks paid up: Lehman
-
Did Prison Change Martha?
Along the lines of a previous post (here) about Charles Colson’s thoughts on the effect of prison on Martha Stewart, an AP story (here) quotes co-editor Ellen Podgor along with a few former white collar crime miscreants on the effect the term of imprisonment had on Stewart — not that Ellen is a miscreant. (ph)
-
What Charles Ponzi Did
For the historical-minded readers, here is a link to a short article on what Charles Ponzi, whose name is routinely invoked to describe a wide variety of scheme’s to fleece investors out of money, actually did to gain such lasting fame. His fraud involved promises of a 40% return in 90 days for investors, a
-
Chuck Colson on Martha Stewart
Chuck Colson, who spent seven months in prison as part of the Watergate prosecutions, writes a thoughtful op ed piece in the New York Times here. He describes his experiences in prison, and what he has done to improve our prison system since being released. He speaks about Martha Stewart. But one passage in his
-
ChoicePoint
The ChoicePoint website states: "ChoicePoint (NYSE: CPS) Chairman and Chief Executive Officer Derek V. Smith on Friday announced that the company will discontinue the sale of information products that contain sensitive consumer data, including Social Security and driver’s license numbers, except where there is a specific consumer-driven transaction or benefit, or where the products support
-
Subscribe
Subscribed
Already have a WordPress.com account? Log in now.
MattBray.net 