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.
March 8, 2002 |
A computer specialist was charged Thursday with operating a sex show Web site on a high-speed line that he got the Army to pay for by telling them it was used for communicating with forces in Bosnia. A 68-count indictment charged Gilbert Benjamin, 49, of Neptune, N.J., with mail and wire fraud and submitting false claims with the intention of defrauding the government, said Assistant U.S. Atty. Michael Guadagno.
November 16, 1987 |
The Supreme Court, in a case with important but uncertain impact on press freedom and insider trading enforcement on Wall Street, upheld the criminal convictions today of a former newspaper reporter and two others who profited from stocks he was writing about. By an 8-0 vote, the court upheld federal mail and wire fraud convictions against former Wall Street Journal reporter R. Foster Winans and two co-defendants.