January 29, 1996 |
SEC Alleges Prison-Run Scheme: The Securities and Exchange Commission has asked a federal judge to close Citi Financial Services, a Los Angeles-based company that the agency alleges has fraudulently marketed "brokered" certificates of deposit nationwide. The SEC says that Citi has collected at least $400,000 from savers and that instead of using the money to buy CDs for its clients, Citi's principals have "instead used the money they fraudulently obtained for their own use and benefit."
October 17, 1986
Three former Orange County residents who operated a precious metals company that collected about $8.5 million from 2,000 U.S. and Canadian investors, have been arrested by FBI agents in Miami. The family owned company, First Trading Group Ltd., sold contracts for the future delivery of gold and silver. It had offices in El Toro, San Diego, Los Angeles and Oakland, before moving to Vancouver, Canada in January, 1984. First Trading's principals, Todd E. Fisch, 25, his mother, Joan D.
May 11, 1989
Princeton/Newport Partners: Five indicted former officials of the Princeton/Newport Limited Partners investment firm received encouraging news when a federal judge dismissed three mail and wire fraud counts in a criminal indictment pending against them in New York. The counts related to charges that the Princeton/Newport officials had illegally agreed to hide the ownership of blocks of Mattel stock. The judge threw out the counts, saying the government hadn't shown that the Mattel transactions had caused anyone to lose money or property.
May 23, 1985
Attorneys for R. Foster Winans, the former Wall Street Journal reporter charged with stock fraud, and his two co-defendants made their final oral arguments before U.S. District Judge Charles E. Stewart. Winans is charged with relaying advance information about the Journal's Heard on the Street columns in 1983 and 1984 to Peter Brant, then the top stockbroker at Kidder, Peabody. His co-defendants are Kenneth Felis, Brant's partner, and David Carpenter, Winans' roommate.
August 29, 2013 |
CASPER, Wyo. -- Robert Arthur Reed solicited investors nationwide for a wind farm here. But a federal judge ruled here this week that all the telephone huckster was really selling was a bunch of hot air. U.S. District Judge Scott Skavdahl ordered the 53-year-old Utah man to serve 12 years in prison for defrauding 83 investors nationwide of more than $4.4 million by promoting investment in nonexistent wind farms in Wyoming and South Dakota....
March 4, 2014 |
Two stars of the reality television show “Real Housewives of New Jersey” face the reality of prison after pleading guilty on Tuesday to federal charges of committing a long-running financial fraud. Teresa and Giuseppe “Joe” Giudice entered their guilty pleas before U.S. District Judge Esther Salas in Newark, according to the U.S. attorney's office. Joe Giudice faces 37 to 46 months in prison while Teresa faces 21 to 27 months, though the defense is asking for probation for the actress.