CARE TO CONTRIBUTE?
TIPS, COMMENTS and QUESTIONS are always welcome (and strictly confidential).
Contact The Daily Caveat via:
Or just
read the feed...
Previous Posts
- New Digs for The Daily Caveat
- Rudolph Elmer on Trial
- Sex By Surprise - Julian Assange Surrenders, Charg...
- Taken Aback By the Government's Insider Trading Pr...
- Corporate Crime Comics
- The Daily Caveat has moved...
- Goldman Sachs (Criminally) Probed
- Goldman Sachs Faces Fraud Charges from the SEC
- German Pensioners Jailed for Kidnapping and Tortur...
- Interfluidity - A Blog You Should KNow
- February 2005
- March 2005
- April 2005
- May 2005
- June 2005
- July 2005
- August 2005
- September 2005
- October 2005
- November 2005
- December 2005
- January 2006
- February 2006
- March 2006
- April 2006
- May 2006
- June 2006
- July 2006
- August 2006
- September 2006
- October 2006
- November 2006
- December 2006
- January 2007
- February 2007
- March 2007
- April 2007
- May 2007
- June 2007
- July 2007
- August 2007
- September 2007
- October 2007
- November 2007
- December 2007
- January 2008
- February 2008
- March 2008
- April 2008
- May 2008
- June 2008
- July 2008
- August 2008
- September 2008
- October 2008
- November 2008
- December 2008
- January 2009
- February 2009
- March 2009
- April 2009
- May 2009
- June 2009
- July 2009
- August 2009
- September 2009
- October 2009
- November 2009
- March 2010
- April 2010
- May 2010
- August 2010
- December 2010
- January 2011
- February 2011
- Current Posts
11/30/2007
Sex, Bribery and Secret Payments at V-Dub
Milber Weiss Faces Investor Lawsuit
NatWest 3 Plead Guilty
U.S. Govt. Obtains Swiss Papers in BAE Arms Dealing Probe
The Banana War
NYT Digs Deep on BAE and Corporate Bribery
FIN 46-R Compliance - Fortune Looks at Pending Troubles on Big Bank Debt Disclosures
Portos Chief Takes Surprise Plea
Cornerstone Hedge Fund Faces Permanent Injunction
Investigators Arrested in Israel - Authorities Suspect Ties to Oleg Deripaska
Sentencing Delayed on Bayou Hedge Fund Co-Founder
Man Group, PAAM Hedge Fund Fraud
Man Group, USB Feud over Hedge Fund Fraud As Charges Against PAAM Manager Loom
Man Prosecuted for Baywatch Fraud
Regulators Rebuffed in Investigation of Cayman-Based bear Sterns Funds
Recap of the NVA Investigators Association Meeting
Details on Boeings Internal "Enterprise" Investigators
Munich Ruling Details Siemens Bribes
Jeff Novitzky - Eliot Ness of the steroids age
A Concise Summation of the Writers' Guild Strike
Siemens Braces for U.S. Penalties
Bill to Protect Attorney Client Privilege in Corporate Investigations Passes the House
Tom Perkins Does 60 Minutes to Flog Autobiography
Things Looking Up for Brocade CEO, Reyes
The Golden Touch of Goldman Sachs
Bear Sterns Faces Conflict of Interest Charges from Massachusetts Regulator
Federal Reserve to Open Up and Get Personal
The King is Dead, Long Live the King
Lerach Writes Op-Ed on Executive Compensation
Investors: FINRA Loves You!
Bad Time to Be Corporate Lawyer
SOX Turns Five
Is is Really Possible for the Siemens Bribery Probe to Get Bigger?
Kerik Goes Down in NY
SEC Plans a Close Look at Merrill Lynch
SEC and Siemens to Get Some Facetime 11/07/2007
Congress to Examine Televangelists' Finances
Apologies...
Microsoft CIO Given the Boot for Bad Behavior
"Valley Boy" Tom Perkins Dishes on HP Spying Scandal in New Autobiography
Philippe Jabre Plans Launch of Second Hedge Fund
The FSA Cracks Down on Boiler Room Operators
Apple's Former General Counsel Comes Back Swinging
Justice Department Sleeping on Corporate Fraud?
Sadly I Won't Make it to This...
Happy Halloween!
Siemens Hearts Whistleblowers
Sex, Bribery and Secret Payments at V-Dub
Lest you think that Siemens is having all the fun on the German business scene... Things at Volkswagen have been similarly interesting (and illicit) of late. BusinessWeek has the skinny on the sex and bribery scandal at V-Dub, including a recent 48 count indictment against one of the car-maker's former supervisory board members.
-- MDT
-- MDT
Labels: bribery, Ferdinand Piech, Germany, Klaus Volkert, sex, Volkswagen
0 Comments.
Post a Comment
Milber Weiss Faces Investor Lawsuit
Texas billionaire Sam Wyly is concerned that the cozy relationship between Milberg founder Melvyn Weiss and Computer Associates board of director member (and former highly embarrassing U.S. Senator, Alfonse D'Amato), might have undercut the compensation obtained for aggrieved investors in CA.
Wyly has filed suit against Milberg, and a host of other firms who participated in the case (Stull, Stull & Brody; Schiffrin, Barroway Topaz & Kessler; and Coughlin Stoia Geller Rudman & Robbins). A key allegation in the case involves a summer 2003 meeting between Weiss, D'Amato and another CA board member in which a reasonable settlement was discussed.
The reasonable deal that followed included an end to all pending actions against CA, immunity for past and present CA executives and board members as well as less that a penny to the dollar reimbursment of lost funds - a result which the Wyly team has labeled "one of the most egregious cases of [legal] malpractice I've seen in 23 years.".
Get the full-on details of the Wyly / Milberg suit at Newsday.
And for a little more background on Mr. Wyly, including proxy fights at CA and a particularly spectacular hedge fund flame-out, see this BusinessWeek article.
-- MDT
11/29/2007
Wyly has filed suit against Milberg, and a host of other firms who participated in the case (Stull, Stull & Brody; Schiffrin, Barroway Topaz & Kessler; and Coughlin Stoia Geller Rudman & Robbins). A key allegation in the case involves a summer 2003 meeting between Weiss, D'Amato and another CA board member in which a reasonable settlement was discussed.
The reasonable deal that followed included an end to all pending actions against CA, immunity for past and present CA executives and board members as well as less that a penny to the dollar reimbursment of lost funds - a result which the Wyly team has labeled "one of the most egregious cases of [legal] malpractice I've seen in 23 years.".
Get the full-on details of the Wyly / Milberg suit at Newsday.
And for a little more background on Mr. Wyly, including proxy fights at CA and a particularly spectacular hedge fund flame-out, see this BusinessWeek article.
-- MDT
Labels: Alfonse D'Amato, CA, Melvyn Weiss, Milberg Weiss, Sam Wyly
NatWest 3 Plead Guilty
If you need a little background on how these three gents fit into the massive Enron fraud puzzle, click on to the tags below to find our past coverage. If all you want is the latest news on the NatWest Three, just click on through to this AFP article. I tell you what, being stuck for 17 months in Texas would make me want to plead guilty to almost anything just get get out of there. *
-- MDT
* We Louisianians are honor-bound to take shots at Texas. Relax, Sam Houston.
11/28/2007
-- MDT
* We Louisianians are honor-bound to take shots at Texas. Relax, Sam Houston.
Labels: Enron, NatWest Three, Texas
U.S. Govt. Obtains Swiss Papers in BAE Arms Dealing Probe
The Guardian is reporting that Swiss prosecutors have agreed to hand over to U.S. authorities financial records linking the Saudi royal family to the BAE arms trading scandal. The U.S. government is seeking a million plus pages of documents relating from multiple sources touched by the probe. Thusfar Britain's Serious Fraud Office has denied U.S. requests for documents, something that goes back six months. This makes the Swiss disclosures all the more interesting.
Get further details on the BAE probe at The Guardian (including info about a witness flown to the U.S. to provide details to American authorities).
-- MDT
11/27/2007
Get further details on the BAE probe at The Guardian (including info about a witness flown to the U.S. to provide details to American authorities).
-- MDT
Labels: arms dealing, BAE, Bandar Bush, bribery
The Banana War
Really interesting piece from Portfolio magazine on Chiquita Banana's apparent association with Columbian death squads. Congress is looking in to the company's conduct and may charge some Chiquita executives as individuals when it comes down to who approved payments to these, essentially terrorist, RBDs (really bad dudes). Read on right here. See also this Chiquita company timeline. for a window into the company's somewhat shady history.
-- MDT
11/26/2007
-- MDT
NYT Digs Deep on BAE and Corporate Bribery
Good stuff here on both the BAE bribery investigation, but also on the current state of FCPA investigations and prosecutions. Check it out.
-- MDT
-- MDT
Labels: BAE, Bandar Bush, bribery, FCPA
FIN 46-R Compliance - Fortune Looks at Pending Troubles on Big Bank Debt Disclosures
This Fortune article gets a bit technical for the corporate balance sheet novice, but it provides an interesting look at what the big banks are sharing (and not sharing) with their investors.
-- MDT
11/21/2007
-- MDT
Labels: Banking, colateralized debt obligations, FIN 46-R
Portos Chief Takes Surprise Plea
Michael Mendelson entered an unexpected guilty plea at what was supposed to be a preliminary hearing relating to allegations of fraud at his now collapsed Toronto-based hedge fund, Portus Alternative Asset Management.
Apparently he is, as the judge in the case believes, a changed man and accepted a two year sentence as well as responsibility for his actions.
Mendelson will also be testifying against his former (and quite literal) partner in crime, Boaz Mason. But Mason, perhaps a less transformed individual, won't be showing up any time soon. He fled Canada for Israel to avoid prosecution.
The disintegration of Portus left about 26,000 wondering what had become of the $750 million they had placed in the care of Mendelson and Mason.
The good news is, in this case, investors expect to get back more than 90% of the funds. We'll see how that goes. More on Portus, Mendelson and Mason right here, via the National Post.
-- MDT
Apparently he is, as the judge in the case believes, a changed man and accepted a two year sentence as well as responsibility for his actions.
Mendelson will also be testifying against his former (and quite literal) partner in crime, Boaz Mason. But Mason, perhaps a less transformed individual, won't be showing up any time soon. He fled Canada for Israel to avoid prosecution.
The disintegration of Portus left about 26,000 wondering what had become of the $750 million they had placed in the care of Mendelson and Mason.
The good news is, in this case, investors expect to get back more than 90% of the funds. We'll see how that goes. More on Portus, Mendelson and Mason right here, via the National Post.
-- MDT
Labels: Boaz Mason, Fraud, hedge fund, Michael Mendelson, Portus
Cornerstone Hedge Fund Faces Permanent Injunction
You can find background on the Cornerstone case right here. As for what's happening in the new and now, former Cornerstone Capital Management executive, Joseph Profit the second (and how could you go wrong with a hedge fund manager of that name?) was in the news, having received a permanent injunction preventing he and his firm from profiting further from their fraudulent activities. They'll also face civil penalties and be forced to pa restitution to wronged parties - amounts as yet uncertain.
-- MDT
11/20/2007
-- MDT
Labels: CFTC, Cornerstone Capital Management, Joseph Profit
Investigators Arrested in Israel - Authorities Suspect Ties to Oleg Deripaska
Earlier this month Israeli authorities arrested two private investigators, Rafi Pridan and Aviv Mor, who they claim has been using illegal wiretaps to gain information about Israel Strategic Affairs Minister Avigdor Lieberman and businessman Michael Chernoy. Another individual, Avigdor Eskin was also arrested. Eskin is belived to have served as the intermediary between the investigators and their employer.
And here's where it gets interesting... The Israeli police believe the man running the show is Russian billionaire, Oleg Deripaska. Deripaska, who has a history of engaging in corporate espionage as well as a few other concurrent legal entanglements is apparently dead-set on beating out former Russian President Vladimir Putin as the person most likely to be mistaken for a James Bond villain. Lots more on the investigation, included Derpiaska's potential motives, right here.
And here's where it gets interesting... The Israeli police believe the man running the show is Russian billionaire, Oleg Deripaska. Deripaska, who has a history of engaging in corporate espionage as well as a few other concurrent legal entanglements is apparently dead-set on beating out former Russian President Vladimir Putin as the person most likely to be mistaken for a James Bond villain. Lots more on the investigation, included Derpiaska's potential motives, right here.
Labels: Aviv Mor, Oleg Deripaska, Rafi Pridan
Sentencing Delayed on Bayou Hedge Fund Co-Founder
Bayou Hedge Fund co-founder, James Marquez saw his sentencing hearing was moved to today, November 20th due to "disputed issues of fact." As of this evening nothing notable has come across the wire. But we'll keep an eye out.
If you'd like to recap, here's Marquez's guilty plea from late last year. Bayou, of course, was one of the more notable hedge fund flameouts of the past few years and the one that started putting these stories on the front page, not just the front page of the business section.
-- MDT
If you'd like to recap, here's Marquez's guilty plea from late last year. Bayou, of course, was one of the more notable hedge fund flameouts of the past few years and the one that started putting these stories on the front page, not just the front page of the business section.
-- MDT
Labels: Bayou Group, Fraud, hedge fund, James Marquez
Man Group, PAAM Hedge Fund Fraud
Entangled sounds like the right way to put it.
-- MDT
-- MDT
Labels: Man Group, MF Global, PAAM, Paul Eustace
Man Group, USB Feud over Hedge Fund Fraud As Charges Against PAAM Manager Loom
Paul Eustace is headed to court. A two count indictment has been filed relating to his conduct at PAAM. UBS and The Man Group have also been implicated. You know what they say - all's fair in love and The Caymans.
-- MDT
-- MDT
Labels: Man Group, MF Global, PAAM, Paul Eustace
Man Prosecuted for Baywatch Fraud
Even fraudsters should have some pride, right?
This is lame, even by criminal standards.
-- MDT
This is lame, even by criminal standards.
-- MDT
Labels: Baywatch, David William Port, Fraud
Regulators Rebuffed in Investigation of Cayman-Based bear Sterns Funds
Regulators lack jurisdiction in the Caymans?
Exactly.
-- MDT
11/18/2007
Exactly.
-- MDT
Labels: Bear Stearns, colateralized debt obligations, hedge fund, mortgage backed securities
Recap of the NVA Investigators Association Meeting
Details on Boeings Internal "Enterprise" Investigators
Corporate email and computer surveillance is one thing, but tailing employees around town and accessing personal email accounts? Given the recent HP fiasco, it sounds like PR, if not legal, nightmare waiting to happen. Very interesting piece on Boeing's tactics from the Seattle Post Intelligencer. Highly recommended.
-- MDT
-- MDT
Labels: Boeing, enterprise investigation, privacy, surveillance, whistleblower
Munich Ruling Details Siemens Bribes
Jeff Novitzky - Eliot Ness of the steroids age
Or so sobriquets the New York Times. Novitzky is the I.R.S. agent that brought down Barry Bonds, a bust five years in the making, along with a host of others. Not without his critics though. Some (defense counsel leading the charge) say that Novitsky is just as much of a cheater as the athletes and doctors he has helped prosecute.
-- MDT
11/16/2007
-- MDT
Labels: BALCO, Barry Bonds, Jeff Novitsky, steroids
A Concise Summation of the Writers' Guild Strike
A little off our beat, but worth your time. From the writers of The Daily Show:
-- MDT
-- MDT
Labels: hypocrisy, Viacom, WGA Strike
Siemens Braces for U.S. Penalties
The Siemens black accounts / bribery scandal would be the biggest FCPA case of all time and the U.S. has a history of showing up foreign governments when it comes to penalties. Conventinal wisdom says that the fines imposed here will be the biggest yet. More on the U.S. Siemens investigation from BusinessWeek.
-- MDT
-- MDT
Bill to Protect Attorney Client Privilege in Corporate Investigations Passes the House
The passage of H.R. 3013, The Attorney Client Privilege Act of 2007, means we're one step further in the ongoing trench warfare between corporate entities and regulation. For background on the bill, check out this post from October 9, 2007. Strange bedfellows on this particular issue, to say the least.
-- MDT
11/15/2007
-- MDT
Labels: attorney client privilege, corporate investigation, pre-trial agreements
Tom Perkins Does 60 Minutes to Flog Autobiography
Can Barbara Walters make him cry? You'll have to tune in to find out.
-- MDT
-- MDT
Labels: 60 Minutes, HP, Tom Perkins
Things Looking Up for Brocade CEO, Reyes
Gregory Reyes just had a good day.
The former Brocade CEO was recently convicted on charges relating to stock option backdating and since then his future had been looking, lets face it, on the bleak side. But that was before he got some reasonably good news from federal Judge Charles R. Breyer.
Breyer elected to delay Reyes' sentencing until after the conclusion of the trial Stephanie Jensen, the former Brocade head of human resources and an alleged co-conspirator. Several charges against Jensen were also dropped. All this is seen as an indication that Reyes expected 10-year plus prison terms might be shrinking.
More on the Reyes sentencing from Workforce Management.
-- MDT
The former Brocade CEO was recently convicted on charges relating to stock option backdating and since then his future had been looking, lets face it, on the bleak side. But that was before he got some reasonably good news from federal Judge Charles R. Breyer.
Breyer elected to delay Reyes' sentencing until after the conclusion of the trial Stephanie Jensen, the former Brocade head of human resources and an alleged co-conspirator. Several charges against Jensen were also dropped. All this is seen as an indication that Reyes expected 10-year plus prison terms might be shrinking.
More on the Reyes sentencing from Workforce Management.
-- MDT
Labels: backdating, Brocade, Gregory Reyes, Stephanie Jensen, stock options
The Golden Touch of Goldman Sachs
Bear Sterns Faces Conflict of Interest Charges from Massachusetts Regulator
The already reeling-from-writedowns Bear Stearns is facing charges that it violated the Massachusetts Uniform Securities Act. As you might expect, given the current business climate, this all finds its way back to hedge funds, colateralized debt obligations and the Cayman Islands.
-- MDT
-- MDT
Labels: Bear Stearns, colateralized debt obligations, hedge fund, mortgage backed securities
Federal Reserve to Open Up and Get Personal
Well, as much as a semi-autonomous central bank can get personal:
-- MDT
11/14/2007
Starting this month, the Fed will publish its economic forecasts four times a year rather than just twice. More important, the forecasts will look three years into the future, instead of the current two, and will include considerable detail about the range of views among policy makers.More on the Fed's new forcasting from the NYT.
-- MDT
Labels: Federal Reserve, forcasting
The King is Dead, Long Live the King
Bloomberg anoints Sean Coffey of Bernstein Litowitz as the new class action king. BusinessWeek made a similar proclamation two years ago. Suffice to say these guys (the folks who took down Worldcom, so respect) are probably seeing a few new opportunities come their way given the spectacular Milberg/Lerach indict-o-rama flameout.
-- MDT
11/13/2007
-- MDT
Labels: Bernstein Litowitz and Berger, class action, Sean Coffey, securities
Lerach Writes Op-Ed on Executive Compensation
This Lerach piece on executive compensation ran in the Sunday Washington Post. I missed it, but Prof. Picker over at the Legal Infrastructure of Business blog, which I've mentioned to you folks before, did not.
The notable idea put forth by Lerach - golden parachute as hush money.
Discuss!
-- MDT
11/12/2007
The notable idea put forth by Lerach - golden parachute as hush money.
Discuss!
-- MDT
Labels: Bill Lerach, executive compensation, Legal Infrastructure of Business
Investors: FINRA Loves You!
And the folks formerly known as the NASD are launching a multi-million dollar ad campaign to prove it!
-- MDT
-- MDT
Bad Time to Be Corporate Lawyer
Nearly two thirds of the largest U.S. firms dumped one of their outside counsel in the last year and a half. Only a third would even recommend their outside counsel to a colleague. And over half have fired a firm in the last year.
Portfolio magazine has the interesting details from recent surveys by BTI Consulting Group and the Association of Corporate Counsel that detail rising levels if dissatisfaction with corporate counselors.
-- MDT
Portfolio magazine has the interesting details from recent surveys by BTI Consulting Group and the Association of Corporate Counsel that detail rising levels if dissatisfaction with corporate counselors.
-- MDT
Labels: corporate counsel, no one loves a lawyer
SOX Turns Five
Is is Really Possible for the Siemens Bribery Probe to Get Bigger?
Apparently. The talk is now that the company's off the books payments total almost $2 billion. Already 140 Siemens employees have been fired in the probe and 330 more have received some form of reprimand while keeping their jobs. More from the IHT.
-- MDT
-- MDT
Kerik Goes Down in NY
He says he plans to fight the charges. We wish him luck.
He'll need it.
-- MDT
11/09/2007
He'll need it.
-- MDT
Labels: Bernard Kerik, bribery, tax evasion
SEC Plans a Close Look at Merrill Lynch
The goal being to determine how much of that $2.3 billion dollar loss Merrill saw coming and how honest they were about the gathering storm.
-- MDT
-- MDT
Labels: Merrill Lynch, SEC, sub-prime mortgage
SEC and Siemens to Get Some Facetime 11/07/2007
Congress to Examine Televangelists' Finances
Six inexplicably popular TV ministers will be getting a close look from Iowa Senator Chuck Grassley. Combed-over faith healer Benny Hinn, the impeccably groomed, ironically named Creflo Dollar and rare bird female minister, Joyce Meyer are all on Grassley's list.
Also receiving letters from the Senator were: Kenneth and Gloria Copeland of Kenneth Copeland Ministries, Bishop Eddie Long of New Birth Missionary Baptist Church and Randy and Paula White of the Without Walls International Church.
Of the inquiry, Grassley stated, "I don't want to conclude that there's a problem, but I have an obligation to donors and the taxpayers to find out more. People who donated should have their money spent as intended and in adherence with the tax code."
I must confess I am a semi-compulsive addict of these programs and will sit for hours just soaking up their manipulative broadcasts. My personal favorite TV charlatan is Robert Tilton of Success-N-Life, who despite having been repeatedly, public discredited still find followers out there amongst the weak and the vulnerable.
Further details on these purveyors of the prosperity gospel via The Guardian.
UPDATE: More as of this morning from the AP. Details on exactly where this investigation should go, disclosure requirements for these types of non-denominational mega-churches and comments from some who are critical of the Grassley probe.
-- MDT
Also receiving letters from the Senator were: Kenneth and Gloria Copeland of Kenneth Copeland Ministries, Bishop Eddie Long of New Birth Missionary Baptist Church and Randy and Paula White of the Without Walls International Church.
Of the inquiry, Grassley stated, "I don't want to conclude that there's a problem, but I have an obligation to donors and the taxpayers to find out more. People who donated should have their money spent as intended and in adherence with the tax code."
I must confess I am a semi-compulsive addict of these programs and will sit for hours just soaking up their manipulative broadcasts. My personal favorite TV charlatan is Robert Tilton of Success-N-Life, who despite having been repeatedly, public discredited still find followers out there amongst the weak and the vulnerable.
Further details on these purveyors of the prosperity gospel via The Guardian.
UPDATE: More as of this morning from the AP. Details on exactly where this investigation should go, disclosure requirements for these types of non-denominational mega-churches and comments from some who are critical of the Grassley probe.
-- MDT
Labels: Chuck Grassley, Televangelists
Apologies...
For the intermittent postings. Blogger is having site-wide problems posting to a variety of FTP servers, mine included it seems. There are several posts and some format changes waiting to get out of purgatory. Including this one, so you may not even see the note until after things have been cleaned up.
--MDT
--MDT
Labels: Blogger sucks
Microsoft CIO Given the Boot for Bad Behavior
Corporate ethics policies violated?
Alright...who's got the skinny on this? What was Stuart Scott up to?
-- MDT
Alright...who's got the skinny on this? What was Stuart Scott up to?
-- MDT
Labels: CIO, corporate ethics, fired, Microsoft, Stuart Scott
"Valley Boy" Tom Perkins Dishes on HP Spying Scandal in New Autobiography
Venture capitalist and bon vivant Thomas Perkins is one of the long-time stars of Silicon Valley, but he gained a different kind of noteriety last year when he went to war with then Hewlett Packard Chairman of the Board, Patrica Dunn.
Perkins, an HP director, was fingered (incorrectly) by Dunn as the mole in what became known as the Kona II investigation of HP employees and the journalists with which they may have sharing company secrets. Dunn initiated the investigation, with famed Cali counsel Wilson Sonsini at her side, employing several independent private investigators - all in an attempt to shut down the leaks she felt were plaguing the company.
As has been widely reported, the investigation went well beyond what was advisable or legal and led to a major conflagration in the press as well as state and national legislatures over the issue of phone record privacy and the investigative tactic known as pretexting. Dunn herself, along with HP's general counsel, was a casualty of all this attention, losing her chairmanship and eventually resigning from the HP board.
The Times of London has run an excerpt from Tom Perkins autobiography, Valley Boy, which describes his first person reaction to the Dunn investigation and the thought process behind his subsequent resignation from the HP board. Really good stuff...
-- MDT
11/06/2007
Perkins, an HP director, was fingered (incorrectly) by Dunn as the mole in what became known as the Kona II investigation of HP employees and the journalists with which they may have sharing company secrets. Dunn initiated the investigation, with famed Cali counsel Wilson Sonsini at her side, employing several independent private investigators - all in an attempt to shut down the leaks she felt were plaguing the company.
As has been widely reported, the investigation went well beyond what was advisable or legal and led to a major conflagration in the press as well as state and national legislatures over the issue of phone record privacy and the investigative tactic known as pretexting. Dunn herself, along with HP's general counsel, was a casualty of all this attention, losing her chairmanship and eventually resigning from the HP board.
The Times of London has run an excerpt from Tom Perkins autobiography, Valley Boy, which describes his first person reaction to the Dunn investigation and the thought process behind his subsequent resignation from the HP board. Really good stuff...
-- MDT
Labels: HP, Kona II, Patricia Dunn, pretexing, Thomas Perkins
Philippe Jabre Plans Launch of Second Hedge Fund
Jabre Capital Partner's new JabCap Mangousta will be an "an open-ended long-short fund with a bias to mid-cap European companies" according to the Financial Times. The planned launch date is mid-December, with funds approaching three quarters of a billion dollars.
Managing the new Jabre venture will be the well pedigreed Renaud Saleur who Jabre recruited away from their mutual former firm, GLG Partners, one of Europe's largest hedge funds. At GLG Saleur Had managed a fund that shares the name Mangousta. Cheeky, no...?
Philipe Jabre, who was a star trader for GLG Partners, is perhaps most famous for receiving (and challenging) a record fine from the FSA in connection with a questionable 2003 bank bond deal.
It is safe to say, I think, that Jabre has landed on his feet. More on his road back from scandal via the tags below.
-- MDT
Managing the new Jabre venture will be the well pedigreed Renaud Saleur who Jabre recruited away from their mutual former firm, GLG Partners, one of Europe's largest hedge funds. At GLG Saleur Had managed a fund that shares the name Mangousta. Cheeky, no...?
Philipe Jabre, who was a star trader for GLG Partners, is perhaps most famous for receiving (and challenging) a record fine from the FSA in connection with a questionable 2003 bank bond deal.
It is safe to say, I think, that Jabre has landed on his feet. More on his road back from scandal via the tags below.
-- MDT
Labels: GLG, JabCap, Jabre Capital Partners, Jabre Financial Service, Philippe Jabre, Renaud Saleur
The FSA Cracks Down on Boiler Room Operators
Two arrests so far and more than $5 million in assets frozen. Details at The Times.
-- MDT
-- MDT
Labels: arrests, boiler room, UK
Apple's Former General Counsel Comes Back Swinging
Ousted and indicted former Apple General Counsel, Nancy Heinen is readying her defense against stock option backdating charges from the SEC. Apple dismissed Heinen when the SEC came calling on the company regarding questionable grants practices.
While Apple patriarch, Steve Jobs seemed to be at least momentarily in the cross-hairs (and many predicted his sort, swift downfall), it was Heinen along with a few other high level company employees who have ultimately faced repercussions.
In her defense Heinen is seeking financial records from fellow former Apple in-house attorney, Wendy Howell. Howell, also canned in the options mess, was the individual who actually wrote the questionable options grant to Steve Jobs. Howell has indicated she falsified the options grant under pressure from Heinen.
Heinen wants access to the documents to show that Howell was under considerable financial distress at the time, hoping to discredit her testimony. Howell has thusfar resisted the overtures of the Heinen defense team citing privacy concerns.
Heinen recently filed suit against her former co-worker in an effort to produce the documents. MacWorld UK has the details on the case of Heinen v. Howell.
-- MDT
11/02/2007
While Apple patriarch, Steve Jobs seemed to be at least momentarily in the cross-hairs (and many predicted his sort, swift downfall), it was Heinen along with a few other high level company employees who have ultimately faced repercussions.
In her defense Heinen is seeking financial records from fellow former Apple in-house attorney, Wendy Howell. Howell, also canned in the options mess, was the individual who actually wrote the questionable options grant to Steve Jobs. Howell has indicated she falsified the options grant under pressure from Heinen.
Heinen wants access to the documents to show that Howell was under considerable financial distress at the time, hoping to discredit her testimony. Howell has thusfar resisted the overtures of the Heinen defense team citing privacy concerns.
Heinen recently filed suit against her former co-worker in an effort to produce the documents. MacWorld UK has the details on the case of Heinen v. Howell.
-- MDT
Labels: Apple, backdating, Nancy Heinen, SEC, stock options
Justice Department Sleeping on Corporate Fraud?
Interesting stuff from The American Lawyer. Their newly released study would seem to indicate that the Justice Department's Corporate Fraud Task Force (formed by the Bush Administration in July 2002) has slowed major prosecutions to the point that the group no longer even reports on its efforts. The DOJ calls this a mark of success. The folks at TAL take a slightly different view... Check out the full American Lawyer Report right here.
-- MDT
11/01/2007
-- MDT
Labels: Corporate Fraud Task Force, corporate scandal, DOJ
Sadly I Won't Make it to This...
Happy Halloween!
Siemens Hearts Whistleblowers
1 Comments.
Preoccupied with jammies or strawberry jam, perhaps? Very cute Halloween picture of Baby Thomas!
Post a Comment
