May 3, 2013 |
Things are starting to get personal in the battle between hedge fund manager Bill Ackman and Herbalife Ltd., the Los Angeles nutritional products company he's accused of operating a long-running pyramid scheme. Herbalife spokeswoman Barbara Henderson said today that Ackman is making false allegations about the company because he's “increasingly desperate to distract the market from focusing on his J.C. Penney disaster.” Ackman's Pershing Square Capital Management owns nearly 18% of struggling J.C. Penney, which has seen its stock drop 12% this year.
July 8, 1989
Mike Downey writes about kid's games for an adult readership. Now that is something truly meaningful and courageous to do with one's life. Writing about sports in the scheme of things ranks somewhere between flagpole sitting and cherry-pit spitting. It sure doesn't rank with cheerleading. WILLIAM ASH Santa Monica
April 12, 1985 |
Former Deputy Auditor General John Kerr Thursday was sentenced to two to five years in prison and fined $6,900 for selling jobs in the auditor general's office. Kerr, 33, allegedly netted $200,000 from the scheme.
January 12, 1989 |
The Chicago Board of Trade has fined and suspended six men linked to a scheme in which a trader donned a wig and used fake identification to gain access to privileged information, CBOT officials said today. The six CBOT members were fined between $5,000 and $50,000 each and suspended for periods ranging from 15 days to 10 years. The traders were linked through federal court testimony last summer to the wig scheme masterminded by veteran trader Thompson B. Sanders, 45.
CALIFORNIA | LOCAL
April 10, 1985 |
A 68-year-old retired Los Angeles insurance agent Tuesday admitted his role in a $1.1-million scheme using phony death certificates to defraud the company that employed him for 30 years. As part of a plea bargain, William Ekaireb pleaded guilty in federal court to five of the 15 felony counts filed against him and agreed to cooperate with the ongoing investigation of the scheme. U.S. District Judge James M.
April 28, 2009 |
More than 1,000 people, some in California, were defrauded out of about $70 million by a group advertising the dream of homeownership in what turned out to be a nightmare Ponzi scheme, federal and state officials said. Five officers for Metro Dream Homes of Laurel, Md., are accused of tricking homeowners into pouring money into the business with the promise that the revenue would be used to pay off their mortgages. The scheme ran from 2005 until October 2007, authorities said. An investor had to put up a minimum of $50,000 for each home.
May 18, 1985 |
A federal appeals court Friday blocked the execution of a man scheduled to die early today for killing a woman who police said was involved with him in an embezzling scheme. The U.S. 5th Circuit Court of Appeals issued the stay about 13 hours before Sterling Rault Jr., 34, was to die in the electric chair. The three-judge panel asked attorneys to submit additional briefs. Rault had been sentenced to die for the 1982 slaying of Jane Ellen Francioni of Slidell.
CALIFORNIA | LOCAL
January 23, 1990
A former administrator of an Inglewood hospital and two of his sons were sentenced to prison Monday for their roles in a false billing and kickback scheme that defrauded local hospitals and businesses out of millions of dollars. Donald A. Wright Sr., 57, former director of engineering at Daniel Freeman Memorial Hospital, was sentenced to three years in prison, fined $100,000 and ordered to pay $23,799 in restitution to the hospital. Wright's oldest son, Donald Wright Jr.