May 31, 2013 |
Thursday night's revelation that Ronald Holmes, father of former UCLA hoops star Shabazz Muhammad, had been indicted in Las Vegas on mortgage fraud charges raises a number of questions. The indictment, a copy of which can be found here , lays out a rough sketch of Holmes' alleged scheme, which involved obtaining mortgages to buy and sell houses using fraudulent information and straw bidders from 2006 to 2009. To pull off the fraud, Holmes, 51 years old and a former USC shooting guard, allegedly worked with several associates.
January 30, 2013 |
WASHINGTON - Assistant Atty. Gen. Lanny A. Breuer, who boosted white-collar prosecutions and oversaw the investigation into the 2010 Gulf Coast oil spill, announced that he would resign as one of the longest-serving chiefs of the Justice Department's Criminal Division. Breuer, whose resignation is effective March 1, had been expected to leave after President Obama's first term. Rep. Darrell Issa (R-Vista), chairman of the House Oversight and Government Reform Committee, noted that Breuer was the third top Justice Department official to depart after the department's inspector general reviewed Fast and Furious, the program that allowed illegal gun sales along the Arizona-Mexico border in an effort to trace them to drug cartels.
January 30, 2013 |
WASHINGTON - Assistant U.S. Atty. Gen. Lanny A. Breuer, who made his mark ramping up the prosecution of white-collar crime and overseeing the government's Gulf of Mexico oil spill investigation, announced he is soon leaving his post as one of the longest serving heads of the Justice Department's Criminal Division. While Breuer, 54, had been expected to depart after serving four years in President Obama's first term, Rep. Darrell Issa (R-Vista), chairman of the House Oversight and Government Reform Committee, noted that Breuer, who was formally admonished in the Fast and Furious scandal, has now become the third top Justice official to step down after the department's blistering inspector general's report into the flawed gun-tracking operation.
January 11, 2013 |
Wells Fargo & Co.'s 25% gain in fourth-quarter earnings provides welcome news for the economy, with the U.S.'s fourth-largest bank showing solid increases in overall consumer and commercial lending and setting aside less cash for potential defaults. Wells Fargo said Friday it earned $4.9 billion , or 91 cents a share, on revenue of $21.9 billion, up from a year-earlier profit of $3.9 billion, or 73 cents a share, on revenue of $20.6 billion. Both profit and revenue beat Wall Street expectations.
November 4, 2012 |
Here is a roundup of alleged cons, frauds and schemes to watch out for. Hurricane Sandy -- The Justice Department and FBI are warning consumers to be careful when making donations intended to help victims of Sandy. Here are some other tips: --Do not respond to spam emails or click on any links in the emails and instead seek out reputable organizations on their websites. Most reputable charities have websites that end with “.org” instead of “.com.” --Do not respond to high-pressure solicitations; reputable organizations do not use coercive tactics.
October 12, 2012 |
JPMorgan Chase & Co., bracing for higher legal costs, set aside an additional $684 million in the third quarter for litigation expenses. Jamie Dimon, the bank's chairman and chief executive, declined to specify what led the bank to up its litigation reserves. "Obviously we're in a litigious society," Dimon said in a conference call with reporters Friday morning. “We've got a lot of mortgage suits coming, and others. " "We expect some litigation expenses going forward but hopefully it'll come down over time," he added.