February 5, 2014 |
FBI agents arrested the owners of a now-closed Southern California real estate investment firm for allegedly using the business to run a Ponzi scheme in which victims lost more than $110 million. John Packard, 63, of Long Beach and Michael Stewart, 66, of Phoenix were indicted in January by a federal grand jury on 11 counts of mail fraud, three counts of bank fraud and two counts of bankruptcy fraud. They are accused of using new investor money to make payments to early investors, while pulling out millions of dollars for themselves, as their company, Pacific Property Assets, headed to bankruptcy.
CALIFORNIA | LOCAL
August 16, 2013
Bert Lance Budget director under President Carter Bert Lance, 82, a Georgia banker and ally of former President Carter who served as his first budget director before departing amid a high-profile investigation of his banking activities, died Thursday at his home in northwest Georgia, Gordon County deputy coroner Heath Derryberry said. Lance had struggled recently with unspecified health problems, though authorities were unsure of his cause of death. Lance, a bear of a man with thick black hair, a rubbery neck and a distinctive drawl, was a self-described "country banker" who had served as state highway commissioner from 1971 to 1973, when Carter was Georgia governor, and also headed the National Bank of Georgia.
July 16, 2013 |
LAS VEGAS - Shabazz Muhammad rivaled any attraction along the Strip here two years ago. Fans and college coaches followed him en masse from one gym to another during a summer club tournament, fawning over every shot and slick move made by the player who was then the nation's top high school recruit. Back in his hometown this week, Muhammad has been indistinguishable from many other rookies and longshot hopefuls trying to prove they belong in the NBA. The Minnesota Timberwolves swingman had another nondescript showing Tuesday during his team's 80-71 victory over the Miami Heat at Cox Pavilion in the Las Vegas Summer League, scoring seven points with one assist and three turnovers.
June 2, 2013 |
Shabazz Muhammad 's stock in the NBA draft has tumbled. His father was charged with bank fraud and conspiracy to commit fraud. Oh, and he's still 20 years old. Time to take to the air. Appearing Friday on Jim Rome's radio show , Muhammad discussed ... His dad: “I wasn't really familiar with what happened. I haven't talked to him. I mean, I'm always there for my dad.” His season at UCLA: “There was some stuff that I wasn't really comfortable with. It wasn't a really up-tempo style of play, but I really enjoyed playing there.
June 1, 2013 |
Ron Holmes, father of former UCLA basketball standout Shabazz Muhammad, was put under house arrest by a federal magistrate Friday. Holmes pleaded not guilty to bank fraud and conspiracy charges. He is alleged to have used phony information and straw buyers to obtain and sell homes in the Las Vegas area. The indictment alleged that he took in more than $2.5 million. Holmes will be required to wear a GPS monitor, though he will be allowed to leave the house to coach Asia Muhammad, his daughter who is a professional tennis player, and athletes at a Las Vegas high school.
CALIFORNIA | LOCAL
May 30, 2013 |
Ronald Holmes, father of former UCLA basketball star Shabazz Muhammad and himself a former hoops standout, has been indicted on federal fraud charges. Holmes, 51, was detained Thursday in Las Vegas. He has pleaded not guilty to bank fraud, as well as counts for conspiracy to commit mail fraud, wire fraud and bank fraud. According to the indictment, which was unsealed Thursday, Holmes and several unnamed associates used fraudulent information and straw buyers to obtain home mortgages and buy and sell houses, keeping the proceeds for themselves.