US Attorney’s Office - NY
email: usanys.crcomp@usdoj.gov
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Useful contact numbers at the SEC:
http://www.sec.gov/contact/phones.htm
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Michael Garcia has had several successful terrorism prosecutions:
In 2001, he was involved in prosecuting four defendants accused of conspiring with Osama bin Laden and 17 others in the bombings of the United States Embassies in Kenya and Tanzania in 1998. The four defendants were convicted in May 2001.
In 1993, Mr. Garcia also took part in the successful prosecution of four defendants accused of involvement in the first terrorist attack on the World Trade Center.
http://www.nytimes.com/2005/04/11/nyregion/11senator.html
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LET THEM HEAR FROM US!
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Lots of info here to mine:
REPORT TO THE PRESIDENT
CORPORATE FRAUD TASK FORCE
2008
http://www.usdoj.gov/dag/cftf/corporate-fraud2008.pdf
Quite a few things on sub-prime stuff:
Here is one report:
Federal Home Loan Mortgage Corporation (Freddie Mac)
On September 27, 2007, the Commission filed a settled enforcement action charging Freddie Mac with securities fraud in connection with improper earnings management. The Commission’s action also charged former Freddie Mac executives David W. Glenn, its former president, COO, and vice-chairman of the board; Vaughn A. Clarke, its former CFO; Robert C. Dean, a former senior vice president; and Nazir
G. Dossani, a former senior vice president. The Commission alleged that Freddie Mac engaged in a scheme that deceived investors about its performance, profitability, and growth trends and that the company misreported its net income in 2000, 2001, and 2002. In its settlement with the Commission, Freddie Mac agreed to pay a $50 million penalty. Glenn, Clarke, Dossani, and Dean agreed to pay penalties of $250,000, $125,000, $75,000, and $65,000, respectively, in addition to disgorgement.
Another one Here:
Securities and Exchange Commission
American International Group, Inc.
On February 9, 2006, the Commission filed settled charges against American International Group, Inc. (AIG) for securities fraud, alleging that AIG misled investors about its financial results by entering into sham reinsurance transactions. The settlement required AIG to pay a penalty of $100 million and disgorge ill-gotten gains of $700 million.
Another one here:
MCA Financial Corp.
MCA Financial Corp., based in Southfield, Michigan, was a privately held mortgage company that made conventional and subprime loans to individual homebuyers in Michigan and several other states. MCA was also a mortgage and land contract broker and servicer. MCA defrauded both its investors, who purchased MCA’s bonds and mortgage-backed securities, and institutional lenders by misrepresenting its true financial condition in financial statements that were regularly filed with the SEC. As the result of paper transactions involving low-income housing in the City of Detroit between MCA and numerous off-book partnerships controlled by MCA’s top two executives, tens of millions of dollars in sham assets and revenues were booked. Seven former MCA executives, including its chairman and CEO, president and COO, CFO, and controller, were convicted in the Eastern District of Michigan of conspiracy, wire fraud, mail fraud, bank fraud, and filing false statements with the SEC. Their sentences, the last of which were imposed in 2006, ranged from 10 years’ imprisonment, for the former chairman, to 12 months of alternative confinement, for a senior vice president who cooperated. The defendants were also ordered to pay restitution, jointly and severally, to investors and lenders in the amount of $256 million.
BIG SECTION ON MORTGAGE FRAUD TOO.