March 11, 2013 |
The Securities and Exchange Commission charged Illinois with securities fraud, accusing the state of misleading municipal investors over pension fund obligations, the regulatory agency said Monday. An investigation determined the state failed to inform investors about the impact of problems with its pension funding schedule, the agency said. Between 2005 and 2009, Illinois sold more than $2.2 billion in municipal bonds but neglected to tell investors that pension obligations were underfunded, the agency said.
February 27, 2013 |
Now that Ben Affleck has shaved his good-luck Oscar beard, we believe it's safe to officially close the book on the 2012-13 awards season so we can cast a small peek at the treasures that await. What will the coming best picture race look like? Here are 10 candidates: "The Great Gatsby" (May 10): Director, Baz Luhrmann; cast, Leonardo DiCaprio, Carey Mulligan, Tobey Maguire. Delayed from last year and, like all of Luhrmann's high-style, high-wire movies, guaranteed to be divisive, "Gatsby" could well be this year's "Les Miserables" (without the singing)
February 13, 2013 |
Sports Illustrated celebrated this year's swimsuit edition with a launch party Tuesday night in NYC. Models from the issue chatted about the differences in their kind of modeling and that of the runway models taking part in New York Fashion Week. For one thing, the girls in swimsuits tend to be shorter (several of them are around 5-9). For another, they are much, much curvier. "I don't really focus on other girls," cover girl Kate Upton said. "I think everyone has a different body type.
CALIFORNIA | LOCAL
December 14, 2012 |
A former Los Angeles police detective who lost millions of dollars given to her by fellow officers and other investors was charged with theft and fraud this week by the California attorney general's office. It is the second time Darcey Greenfield has faced allegations that she misled investors in a real estate investment scheme. Last year, prosecutors in San Bernardino County brought similar charges. Prosecutors in the attorney general's white collar crime unit began investigating Greenfield, 41, several months ago, after LAPD investigators presented them with the findings of their own inquiry, according to the attorney general's office.
November 20, 2012 |
WASHINGTON -- Federal prosecutors on Tuesday charged a former hedge fund portfolio manager with securities fraud in connection with what they said was the most lucrative insider-trading case ever prosecuted. In complaints filed in New York, authorities said investment advisors and hedge funds made more than $276 million in illegal profits or avoided losses by trading before the announcement in 2008 of negative results from clinical trials for an Alzheimer's disease drug being developed by Elan Corp.
October 24, 2012 |
NEW YORK -- Rajat Gupta, a former director of Goldman Sachs, will spend two years in jail and an additional year on supervised release for his role in a sprawling insider-trading scheme on Wall Street. U.S. District Judge Jed Rakoff ordered Gupta to report to prison Dec. 11 and pay $5 million in fines. A jury convicted Gupta of securities fraud and conspiracy in June. Federal prosecutors had sought a prison sentence of as long as 10 years. Gupta's lawyers asked Rakoff for a term of community service, helping homeless youth in New York or rural poor in Rwanda. Gupta is the highest-profile figure in the federal government's campaign against insider-trading, which Preet Bharara, the U.S. attorney in Manhattan, has called rampant on Wall Street.