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Keyword: whitecollarcrime

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  • FBI's Clinton Foundation investigation now 'a very high priority,' sources say

    11/02/2016 6:07:05 PM PDT · by Mariner · 109 replies
    Fox News ^ | October 2nd, 2016 | Bret Baier
    The FBI's investigation into the Clinton Foundation that has been going on for more than a year has now taken a "very high priority," separate sources with intimate knowledge of the probe tell Fox News. FBI agents have interviewed and re-interviewed multiple people on the foundation case, which is looking into possible pay for play interaction between then-Secretary of State Hillary Clinton and the Clinton Foundation. The FBI's White Collar Crime Division is handling the investigation. Even before the WikiLeaks dumps of alleged emails linked to the Clinton campaign, FBI agents had collected a great deal of evidence, law enforcement...
  • Justice Dept. encourages prosecutions of corporate execs

    09/09/2015 7:27:13 PM PDT · by Olog-hai · 16 replies
    Associated Press ^ | Sep 9, 2015 9:34 PM EDT | Eric Tucker
    The Justice Department issued new guidance to its prosecutors on Wednesday, aimed at encouraging more white-collar criminal cases against corporate executives. The new policies come amid persistent criticism that the Justice Department, even while negotiating multi-billion-dollar settlements with large banks, has not been aggressive in prosecuting individuals for financial misconduct—including after the mortgage crisis that devastated the U.S. economy. The policy changes were outlined in a memo issued to Justice Department attorneys and to the FBI, and Deputy Attorney General Sally Yates was expected to discuss the issue in a speech Thursday at New York University’s law school. Though it’s...
  • Former HUD-OIG Special Agent In Charge Indicted on Mortgage Fraud Charges

    03/05/2014 7:16:00 PM PST · by DogByte6RER · 5 replies
    Mortgage Fraud Blog ^ | March 3, 2014 | Mortgage Fraud Blog (Rachel Dollar)
    Former HUD-OIG Special Agent In Charge Indicted on Mortgage Fraud Charges Herschell Harvell, Jr., 53, Conyers, Georgia, made his initial appearance in federal court on charges of making false statements to a bank to obtain a mortgage loan and conspiring to obstruct an investigation into his real estate transactions by the U.S. Department of Housing and Urban Development, Office of Inspector General (HUD-OIG). Until he was terminated in 2013, Harvell was the Special Agent in Charge of HUD-OIG’s Atlanta office, which encompasses several southeastern states. Harvell’s co-defendant and nephew, Tavus A. Wright, 32, Milledgeville, Georgia, also made his initial appearance...
  • Man Charged With Obstruction Of Police Officer During Operation Thunder Stop

    05/01/2013 9:18:08 AM PDT · by Altariel · 56 replies ^ | April 29, 2013 | Mike Miller
    ames Eades of Augusta is charged with obstruction of a police officer, stemming from an incident during Operation Thunder, but he says there is much more to the story than that. Eades says that he and a friend were driving down Alexander Drive early Friday morning when they came to an Operation Thunder Checkpoint on River Watch Parkway. What happened during that stop lead to Eades getting arrested... and he says it's all because he didn't roll down his window all the way "We saw what appeared to be an accident scene. A couple of police cars with blue lights,...
  • CNBC's Bartiromo Takes (Barney) Frank to Task Over Lack of ’08 Financial Crisis Prosecutions

    02/16/2013 8:27:39 AM PST · by DogByte6RER · 21 replies
    Washington Free Beacon ^ | February 15, 2013 | Washington Free Beacon Staff
    Bartiromo Takes Frank to Task Over Lack of ’08 Financial Crisis Prosecutions • Frank: 'Individuals' should be prosecuted on Wall Street, will not say who Former Massachusetts Congressman Barney Frank (D., Mass.) advocated criminal prosecutions against “individuals” involved in the 2008 financial crisis and the subsequent collapse on Wall Street Friday on CNBC. Maria Bartiromo reacted incredulously to Frank’s refusal to name specific individuals who may have perpetrated criminal wrongdoing, accusing the former Congressman of playing populist politics by making specious allegations against the financial industry. Frank attempted to deflect the criticism by stating as Chair of House Financial Services...
  • Radio Talk Show Host Charged with Mortgage Fraud (Chicago Raised Community Activist, BHO Sychophant)

    02/13/2013 6:58:14 PM PST · by DogByte6RER · 9 replies
    Mortgage Fraud Blog ^ | Thursday, 07 February 2013 | Rachel Dollar
    Radio Talk Show Host Charged with Mortgage Fraud Warren Ballentine, 41, Durham, North Carolina, and formerly of Country Club Hills, Illinois, a lawyer who hosts a national radio talk show, was indicted on federal charges for allegedly engaging in two mortgage fraud schemes that defrauded lenders of a total of approximately $9.7 million. The defendant allegedly schemed with others to obtain more than two dozen fraudulent mortgage loans and represented buyers at multiple closings, knowing that they were fraudulently qualified for loans to purchase homes in Chicago, Illinois, and various southern suburbs. Ballentine owns the Law Office of Warren Ballentine,...
  • Top Economists: Iceland Did It Right … And Everyone Else Is Doing It Wrong

    08/25/2012 4:47:27 PM PDT · by Kartographer · 11 replies
    ZeroHedge ^ | 8/25/12 | George Washington
    A funny thing happened on the way to economic Armageddon: Iceland’s very desperation made conventional behavior impossible, freeing the nation to break the rules. Where everyone else bailed out the bankers and made the public pay the price, Iceland let the banks go bust and actually expanded its social safety net. Where everyone else was fixated on trying to placate international investors, Iceland imposed temporary controls on the movement of capital to give itself room to maneuver.
  • Undermining the Attorney-Client Privilege

    10/05/2011 9:06:34 PM PDT · by ARCLights · 3 replies
    Business Rights Watch ^ | Oct. 4, 2011 | Alexander R. Cohen
    Should a lawyer be able to represent both a corporation and its employees? If a corporation’s executives and other employees can’t trust the company’s lawyer not to cooperate in their prosecution, how can anyone speak openly to that lawyer on behalf of the corporation? These, the National Association of Criminal Defense Lawyers argued, were among the questions raised by the Third Circuit’s decision in United States v. Norris, which the Supreme Court this week declined to review. Morgan Crucible Co. had waived its attorney-client privilege as part of its cooperation with an antitrust investigation by the Department of Justice, and...
  • Exclusive: No Criminal Charges Likely in AIG Collapse

    04/19/2010 12:43:17 PM PDT · by Lorianne · 26 replies · 424+ views
    CBS News ^ | 02 April 2010 | Armen Keteyian
    CBS NEWS has learned that former AIG executive Joseph Cassano - the prime focus of the investigation into its collapse - will meet with Department of Justice attorneys next week in what will likely be an end to the two year criminal investigation into the company. Sources tell CBS News that the criminal case against Cassano - once called "the Man who Crashed the World" - has "hit a brick wall" - meaning that it is likely no one will be held criminally liable for the downfall of the company that triggered a $182 billion dollar federal bailout. Sources tell...
  • Inland Swindler Awaiting Sentencing Commits Suicide (Calfornia Mortgage Fraud/Ponzi Scheme)

    02/25/2010 6:33:58 PM PST · by DogByte6RER · 13 replies · 671+ views
    The Press-Enterprise ^ | Tuesday, February 23, 2010 | RICHARD BROOKS and LESLIE BERKMAN
    Inland swindler awaiting sentencing commits suicide By RICHARD BROOKS and LESLIE BERKMAN The Press-Enterprise An admitted swindler has hanged himself in Palm Desert where he was awaiting sentencing to as much as 32 years in federal prison for filing false tax returns and for his role in a mortgage and security scheme that prosecutors say cost investors $142 million. Christopher J. Oetting was found dead at 7:50 p.m. Feb. 16 at his home along the 40000 block of Sagewood Drive. He was free on $225,000 bond. Oetting pleaded guilty Dec. 21 in federal court in Los Angeles to money-laundering, conspiracy...
  • Hedge Fund Manager Sentenced in Insider Trading Case

    07/17/2009 5:45:16 PM PDT · by Larry381 · 2 replies · 224+ views
    Department of Justice ^ | July 17, 2009 | United States Attorney's Office District of Massachusetts
    BOSTON, MA—A hedge fund manager was sentenced late yesterday to a year and a day in federal prison for his role in an insider trading scheme. The sentencing came nearly three years after the man’s original sentencing hearing and followed a series of appeals that ultimately reached the United States Supreme Court. Acting United States Attorney Michael K. Loucks and Warren T. Bamford, Special Agent in Charge of the Federal Bureau of Investigation - Boston Field Division, announced today MICHAEL K.C. TOM, age 40, of Winchester, Massachusetts, was sentenced by the Honorable Nathaniel M. Gorton to 12 months and one...
  • Catholics targeted by NY man in $17M Ponzi scheme

    01/08/2009 11:07:14 PM PST · by 2ndDivisionVet · 4 replies · 496+ views
    The London Guardian / The Associated Press ^ | January 9, 2009 | Carolyn Thompson
    An 82-year-old businessman was charged Thursday with running a Ponzi scheme that took in at least $17 million from a clientele gleaned largely through ads in Catholic newspapers. Richard Piccoli of suburban Buffalo declined to comment after appearing in federal court on a criminal complaint charging him with mail fraud. He was ordered to return Tuesday for arraignment. He could face up to 20 years in prison and a $250,000 fine if convicted. The U.S. Securities and Exchange Commission, meanwhile, moved to freeze the assets of Piccoli and his 33-year-old company, Gen-See Capital Corp. Investigators said Piccoli guaranteed annual returns...
  • Top Broker Accused of Fraud

    12/11/2008 4:00:15 PM PST · by joinedafterattack · 66 replies · 5,168+ views
    Wall Street Journal ^ | December 11, 2008 | By AMIR EFRATI, TOM LAURICELLA and DIONNE SEARCEY
    Bernard L. Madoff, the founder of Bernard L. Madoff Investment Securities and a fixture of the Wall Street trading world for decades, was arrested Thursday morning by Federal Bureau of Investigation agents and charged with criminal securities fraud by federal prosecutors in Manhattan. Press Release of Bernard Madoff's ArrestThe criminal complaint filed against Mr. Madoff alleges that he told senior employees Wednesday that his business was "a giant Ponzi scheme," according to a person familiar with the matter. The alleged scheme involved tens of billions of dollars, but the extent of investor losses wasn't immediately clear. The disclosure came after...
  • Union Claims Bank Of America Cut Off Financing For Republic Windows And Doors

    12/06/2008 8:58:37 PM PST · by antonia · 8 replies · 1,101+ views ^ | Dec 5, 2008 2:08 pm US/Central |
    "Organizers of the action said the company can't pay employees because its creditor, Charlotte, N.C.-based Bank of America, won't let them. Crain's Chicago Business reported that Republic Windows' monthly sales had fallen to $2.9 million from $4 million during the past month. In a memo to the union, obtained by the business journal, Republic CEO Rich Gillman said the company had "no choice but to shut our doors. Bank of America received $25 billion from the government's financial bailout package. "Across cultures, religions, union and nonunion, we all say this bailout was a shame," said Richard Berg, president of Teamsters...
  • FBI resources limited for economic probes: report

    10/18/2008 7:42:07 PM PDT · by NormsRevenge · 18 replies · 549+ views
    Reuters on Yahoo ^ | 10/18/08 | Chris Michaud
    NEW YORK (Reuters) – The FBI, after years spent focusing on national security, is struggling to find agents and resources to investigate wrongdoing tied to the country's economic crisis, The New York Times reported in Sunday editions. Citing current and former FBI officials, the Times said cutbacks in its criminal investigative workforce following the September 11 attacks left the FBI weaker in areas like white collar crime. The cutbacks were the result of a shift in focus to terrorism and intelligence matters. More than 1,800 agents, or nearly one-third of all those in criminal programs, moved into those areas, the...
  • The Real Costs of the Bailouts

    09/28/2008 7:16:57 AM PDT · by Zakeet · 30 replies · 817+ views
    Wall Street Journal ^ | September 28, 2008 | Sudeep Reddy
    Last week, as federal regulators seized Washington Mutual in the largest U.S. banking failure, Congress was grappling with whether to spend $700 billion of public money to fix the financial industry's troubles. Lawmakers' initial reaction to the Treasury Department's staggering request: shock. That sum amounts to about a quarter of the U.S. government's annual spending. It's more than the Pentagon's annual budget, more than the nation pays out each year in Social Security benefits and more than the federal government's cost for Medicare and Medicaid. Members of Congress then asked the questions that continue to be on many Americans' minds:...
  • ACORN funding remains in bail-out bill

    09/28/2008 7:53:12 AM PDT · by pabianice · 51 replies · 2,625+ views
    Reuters ^ | 9/29/08
    As posted, bill includes what appears to be funding for ACORN. Link
  • (California Mortgage Fraud) FBI Searched Murrieta Businessmen's Homes In Investment Probe

    03/08/2008 8:45:49 AM PST · by DogByte6RER · 8 replies · 1,154+ views
    The Press-Enterprise ^ | Friday, March 7, 2008 | LESLIE BERKMAN
    FBI searched Murrieta businessmen's homes in investment probe Friday, March 7, 2008 By LESLIE BERKMAN The Press-Enterprise The FBI confirmed Friday that it searched the Murrieta homes of James Duncan and Hendrix Montecastro for documents and computer data as part of a criminal investigation. Contents of the search warrant indicate that the FBI is looking into the investment schemes that already have made the two Murrieta businessmen and their colleagues the targets of lawsuits by the U.S. Securities and Exchange Commission and irate investors. The U.S. attorney's office, acting on behalf of the FBI, obtained the search warrant from U.S....
  • "From Dreams To Debt" (Massive Mortgage/Real Estate Fraud Exposed In Southern California)

    11/18/2007 6:22:45 AM PST · by DogByte6RER · 62 replies · 146+ views
    The Press-Enterprise ^ | Saturday, November 17, 2007 | LESLIE BERKMAN
    From dreams to debt Investors say they expected to cash in on the hot real estate market when they entrusted money to a company in Murrieta. Instead, many are losing their homes and facing bankruptcy. 03:08 PM PST on Saturday, November 17, 2007 By LESLIE BERKMAN The Press-Enterprise Video: Anna Richter talks about losing money in the investment scheme Residents of Copper Canyon in Murrieta watched in astonishment as a group of investors snapped up homes in their middle-income community last year, paying $50,000 to $100,000 more than the sellers wanted. Today, the front yards are browning, overgrown with weeds....
  • Suit alleges massive mortgage scam

    01/07/2007 3:17:58 PM PST · by DogByte6RER · 20 replies · 3,134+ views
    North County Times/The Californian ^ | Friday, January 5, 2007 | CHRIS BAGLEY
    Suit alleges massive mortgage scam By: CHRIS BAGLEY - Staff Writer A network of scam artists convinced unwitting investors to buy houses using questionable loans and then backed out, leaving the investors on the hook for as much as $5 million apiece, according to a lawsuit filed Friday in Riverside County Superior Court. Temecula attorney Richard Ackerman filed the suit against Jovane Investments on behalf of an anonymous client, who he said was duped into buying five houses in and around Murrieta in early 2005. The purchases allegedly relied on mortgage loans brokered by Stonewood Consulting Inc., Ackerman said. Stonewood...