-
Pushing Back Against Regulators
With the re-election of President Bush and the fading memory of the collapse of Enron et al., it appears that the business lobby is increasing the pressure on the SEC and prosecutors to back off from the tough stance that had been taken in the past few years towards corporate crime and accounting/regulatory violations. Last
-
TOEFL Mail Fraud Convictions Affirmed
On Dec. 16, the Third Circuit affirmed the mail fraud convictions of two men who participated in a scheme to buy scores for the Test of English as a Foreign Language (TOEFL) Exam, which is administered by the Educational Testing Service (ETS). United States v. Al Hedaithy. A passing score (usually 550) on the TOEFL
-
Hacker Sentenced to Six-Month Prison Term
Gregory Aaron Herns, who hacked into the computer system at NASA’s Goddard Space Flight Center when he was 17 years old to store movies he had downloaded has been sentenced to a six-month term of imprisonment for his violation of the computer crime act (18 U.S.C. 1030). He pled guilty a violating the act and
-
Lawyer Misconduct
A decision issued on Dec. 17 by the D.C. Circuit, SEC v. Loving Spirit Foundation Inc. (No. 03-5234), involves inter alia the referral of two attorneys to the disciplinary authorities for misstatements to the court. The case involves an action by a receiver for a disgorgement fund created out of the SEC’s litigation against Paul
-
Former Cutter & Buck President Settles SEC Charges
Martin Marks, the former President and COO of Cutter & Buck Inc., a Seattle sportswear company, settled charges filed by the SEC that he inflated revenue at the end of the April 2000 quarter by shipping goods to three "distributors" who in fact could not pay for the items. According to the SEC Litigation Release
-
He’s Back
Michael Milken was the face of 1980s greed and hubris after his guilty plea on six felony counts related to his work at the famed junk bond machine Drexel Burnham Lambert. Of course, that is now ancient history–it was almost 15 years ago–and the S&L crises and the Enron/Worldcom corporate debacles since then have taken
-
Not a Sure Thing
A system of effectively compensating employees used by the New York Racing Association (NYRA) resulted in extensive tax evasion charges for the NYRA and a number of its employees. A press release from the U.S. Attorney for the Eastern District of New York describes the deferred prosecution agreement the NYRA entered into related to a
-
It’s Not the Season for Receiving Gifts
Fidelity Investments announced that it has disciplined 16 stock traders for accepting gifts and entertainment from brokers seeking business from the large mutual fund company. Two traders, Thomas Bruderman and Robert Lewis Burns, have left the company, apparently because of their ties with Kevin Quinn, a broker with Jefferies & Co. who has been terminated
-
The Confidentiality Fetish
Professor William H. Simon (Columbia) has an article in the December issue of The Atlantic, "The Confidentiality Fetish," that challenges what he sees as the overuse by lawyers of the protections afforded by the attorney-client privilege. Professor Simon is one of the leading academics in the field of professional responsibility. He argues that lawyers are
-
Charter Communications Guilty Plea
The U.S. Attorney for the Eastern District of Missouri announced today that David G. Barford, the former Chief Operating Officer of Charter Communications Inc., a large cable company controlled by Paul Allen, has pled guilty to a single count of conspiracy to commit wire fraud and will cooperate in the government’s investigation. Barford admitted to
-
Subscribe
Subscribed
Already have a WordPress.com account? Log in now.
MattBray.net 