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
11/24/2008
Blogging Stocks Runs Down List o Finanical Felons
Menachem Lifshitz Comes Clean on Tax Bill
Corporate Liability Questions Face Appeals Court
Essential Reading - From Kurdistan to K Street
Muckety.com For Relationship Mapping
Joe Nocera Ruminates on What Enforcement Looks Like at the SEC These Days
A SocGen Showdown 11/19/2008
Google Opens Searchable Database of Life Magazine Photos 11/18/2008
You Need to Know About the Matrix
11/17/2008
SEC Enforcement Agreements on The Rise
Texas Pretexters Shut Down
Broadcom Aid Cooperating
Natwest Three Homecoming
Hausfeld Expelled at Cohen Milsten, Speaks to WSJ Law Blog
Patrick Harrington Sentenced
Speaking of UBS...
UBS Coughing Up Names to U.S. Authorities
SEC Claims No Foul Play in Pequot Action
Businessmen Turn To Crime to Maintain High Standard of Living During Economic Downturn?
AOL Exec Gets a Pass From the SEC
Insider Trading Charges Face Deloitte
Dismal Numbers for Kroll Parent Company
Spitzer Skates on Sex Solicitation Charges
Bayou Hedge Fund Swindler Gets Note From Doctor, Goes to Medical Prison
Former UBS Exec Gets Six and a Half Years on Insider Trading Conviction
Please Forgive the Continued Political Blogging
This was too good to pass up...
Siemens Sends Notice of Coming Settlement
All About the SEC's New Enforcement Manual
Bear Stearns Risk Guru Joins NY Fed, Irony Not Lost on Some
Some Fresh meat for You Independents
In Case You Were Wondering When the World Changed
And it All Comes Down to This...
11/03/2008
Former National Century CEO Gets Convicted
11/02/2008
Google Enables OCR for Indexed PDFs
Blogging Stocks Runs Down List o Finanical Felons
0 Comments.
Post a Comment
Menachem Lifshitz Comes Clean on Tax Bill
The prominent plaintiff attorney (Bernstein, Liebhard & Lifshitz), is seeing some dirty laundry aired thanks to his guilty plea on charges that he falsified his 2005 tax return. Along with resigning from BLL, he'll pay a cool $4.8 million to make it right.
--MDT
11/23/2008
--MDT
Labels: Bernstein, Liebhard and Lifshitz, Menachem Lifshitz, tax evasion
Corporate Liability Questions Face Appeals Court
Should corporations be held liable for the actions taken by employees that violate company regulations? That is the question at the heart of a case currently before U.S. Court of Appeals in New York. In the middle is Greek shipping company, Ionia Management, which was recently convicted in Connecticut for illegal dumping.
In an interesting twist, Ionia is being represented by former Federal prosecutor, Andrew Weissmann, who's name may be familiar to you for his former role as the Director of the Justice Department's Enron task force. All the talk is that the Ionia case is headed straight for the Supreme court, but that would first require a ruling for the government at the appeals level.
For a learned opinion on th arguments in the case and what a ruling in Ionia's favor could mean for coporate prospections, check out Mark Godsey's post over at the always interesting CrimProf Blog. See also this post from Ellen Podgor over at the White Collar Crime Prof Blog, which was written back in June of this year as Ionia approached it's current appeal.
-- MDT
11/20/2008
In an interesting twist, Ionia is being represented by former Federal prosecutor, Andrew Weissmann, who's name may be familiar to you for his former role as the Director of the Justice Department's Enron task force. All the talk is that the Ionia case is headed straight for the Supreme court, but that would first require a ruling for the government at the appeals level.
For a learned opinion on th arguments in the case and what a ruling in Ionia's favor could mean for coporate prospections, check out Mark Godsey's post over at the always interesting CrimProf Blog. See also this post from Ellen Podgor over at the White Collar Crime Prof Blog, which was written back in June of this year as Ionia approached it's current appeal.
-- MDT
Labels: Andrew Weissmann
Essential Reading - From Kurdistan to K Street
Laura Rosen over at Mother Jones showing how we make the sausage, post 9/11.
-- MDT
-- MDT
Labels: Shlomi Michaels
Muckety.com For Relationship Mapping
I do love this stuff - dynamic visualization of the web of relationships between notable folks. Check it out here.
--MDT
--MDT
Joe Nocera Ruminates on What Enforcement Looks Like at the SEC These Days
The name Mark Cuban comes up as a case in point.
-- MDT
-- MDT
Labels: Cristopher Cox, enforcement, Mark Cuban, SEC
A SocGen Showdown 11/19/2008
Google Opens Searchable Database of Life Magazine Photos 11/18/2008
You Need to Know About the Matrix
A decent work in progress - naming names and mapping connections - from the Marc Cuban-funded Wall Street investigation blog (irony alert...).
-- MDT
Funny... I originally scheduled this post a few days back, right before the Mark Cuban insider trading story hit.
Cuban responds to the SEC here....
-- MDT
Labels: Sharesleuth
1 Comments.
Did they take down the information you mentioned? I dont see it. I think it is hilarious and ironic that Cuban is the majority partner of a site out to find frauds....what a great guy, thanks Mark.
Post a Comment
SEC Enforcement Agreements on The Rise
Pushing towards a three-year high. Get a breakdown of those numbers right here.
-- MDT
-- MDT
Labels: enforcement, SEC
Texas Pretexters Shut Down
Broadcom Aid Cooperating
The cooperation of former personal aid Craig Gunther doesn't bode well for Brodacom's founder, Henry T. Nicholas, who's trial on financial and drug charges is pending.
Nicholas is quite the colorful fellow - one of the original dot com billionaires and the kind of guy that would build a "sex cave" under his mansion.
The information possessed by Gunther, given his years as major domo of the Nicholas household, could no doubt be quite damaging to his former boss.
As per his plea agreement, Gunther plead guilty to two misdemeanors and he is expected get as little as probation in exchange for his cooperation with prosecutors.
-- MDT
11/16/2008
Nicholas is quite the colorful fellow - one of the original dot com billionaires and the kind of guy that would build a "sex cave" under his mansion.
The information possessed by Gunther, given his years as major domo of the Nicholas household, could no doubt be quite damaging to his former boss.
As per his plea agreement, Gunther plead guilty to two misdemeanors and he is expected get as little as probation in exchange for his cooperation with prosecutors.
-- MDT
Labels: Craig Steven Gunther, Henry Nicholas
Natwest Three Homecoming
And a long strange trip it has been...
And too long since Ive spent some time reading Tom Kirkendall's blog, at that.
-- MDT
11/15/2008
And too long since Ive spent some time reading Tom Kirkendall's blog, at that.
-- MDT
Labels: Enron, NatWest Three
Hausfeld Expelled at Cohen Milsten, Speaks to WSJ Law Blog
As was revealed early in the week, name partner Michael Hausfeld of Cohen Milstein sent notice to clients and colleaues that he had been abruptly expelled from the firm, via a note left on his office chair. No one is one the record with a specific reason why Hausfeld got the boot after almost fourty years of service (although various message boards are awash with speculation). Hausfeld has already retained representation and office space from Venable and is talking retribution against his former colleagues. He also passed a few words with the WSJ Law Blog about the road ahead. Needless to say, there has got to be a a rather large and thorny issue hiding behind all the bluster and BS.
-- MDT
11/13/2008
-- MDT
Labels: Cohen Milstein, Michael Hausfeld
Patrick Harrington Sentenced
BLX baddie and Daily Caveat fave, Patrick Harrington has been sentenced to 10 years in prison for his role in perpetrating the largest loan fraud in the history of the Small Business Administration - more than $30 million.
Thanks to the tipster who pointed me to the Chicago Tribune article.
-- MDT
Thanks to the tipster who pointed me to the Chicago Tribune article.
-- MDT
Labels: BLX, Patrick Harrington, sentencing
Speaking of UBS...
This is quite the significant indictment. Raoul Weil, come on down. Weil oversaw cross-border private banking for UBS from 2002 to 2007, overseeing a division that allegedly helped hide $20 billion from U.S. tax authorities.
-- MDT
11/12/2008
-- MDT
Labels: Raoul Weil, tax evasion, UBS
UBS Coughing Up Names to U.S. Authorities
SEC Claims No Foul Play in Pequot Action
The SEC has given itself a clean bill of health in the handling of the Pequot Capital hedge fund investigation. The SEC's inspector general and Senate investigators reached the opposite conclusion in their independent probe of the matter.
SEC inspector general pointedly recommended disciplinary action against SEC enforcement chief Linda Thomsen as well as Mark Kreitman assistant enforcement director and Robert Hanson the supervisor of whistleblowing SEC lawyer, Gary Aguirre.
Given the contradictory conclusion, inspector Kotz and the SenatorCharles Grassley who had orignially requested the Senate investigation of the matter both balked at the outcome of the SEC's administrative proceeding.
So what was Gary Aguirre blowing the whistle on in the first place? In a nutshell:
Aguirre was the lead attorney in an investigation of suspicious trades at hedge fund Pequot Capital. In pursuit of the investigation Aguirre sought to interview John Mack, chief executive of Morgan Stanley and longtime friend of Arthur Samberg, founder of Pequot.
According to Aguirre, his SEC higher-ups declared hands-off on Mack. When Aguirre pushed the point, he claims he was fired. His subsequent whistleblowing resulting in congressional hearings, which have in turn produced several reports highly critical of the SEC's conduct in the matter.
For a full recap of our Pequot coverage click here.
-- MDT
11/11/2008
SEC inspector general pointedly recommended disciplinary action against SEC enforcement chief Linda Thomsen as well as Mark Kreitman assistant enforcement director and Robert Hanson the supervisor of whistleblowing SEC lawyer, Gary Aguirre.
Given the contradictory conclusion, inspector Kotz and the Senator
So what was Gary Aguirre blowing the whistle on in the first place? In a nutshell:
According to Aguirre, his SEC higher-ups declared hands-off on Mack. When Aguirre pushed the point, he claims he was fired. His subsequent whistleblowing resulting in congressional hearings, which have in turn produced several reports highly critical of the SEC's conduct in the matter.
For a full recap of our Pequot coverage click here.
-- MDT
Labels: Gary Aguirre, John Mack, Pequot Capital
Businessmen Turn To Crime to Maintain High Standard of Living During Economic Downturn?
AOL Exec Gets a Pass From the SEC
John Tuli can breath a sigh of relief these days, as the SEC has dropped all charges against him in connection with their long running probe into revenue inflation that took place during the AOL Time Warner merger. Several of Mr. Tuli's former colleagues at AOL have not been so fortunate. More at the WSJ.
-- MDT
11/10/2008
-- MDT
Labels: AOL, John Tuli, revenue inflation, SEC
Insider Trading Charges Face Deloitte
All eyes are on Thomas Flanagan, a former Deloitte VP who resigned a few weeks back, rather abruptly. On October 29th Delottie filed suit against Flanagan for allegedly buying stock in an unnamed company (Option Care, Inc.) just a week before a Deloitte client (Walgreens) announced their acquisition of the firm.
Deloitte had been the auditing firm contracted to review the deal. Falanaga had been the Deloitte client contact on the matter. In their lawsuit Deloitte claims ignorance of this an other questionable conduct on Flanagan's part - at least until regulators began asking them questions.
For more on the Flanagan case, check out The Chicago Tribune.
-- MDT
11/09/2008
Deloitte had been the auditing firm contracted to review the deal. Falanaga had been the Deloitte client contact on the matter. In their lawsuit Deloitte claims ignorance of this an other questionable conduct on Flanagan's part - at least until regulators began asking them questions.
For more on the Flanagan case, check out The Chicago Tribune.
-- MDT
Labels: Deloitte, insider trading, Thomas Flanagan
Dismal Numbers for Kroll Parent Company
Profits for Marsh & McClellan fell 78% in the 3rd quarter of 2008. Earnings in Kroll's division were down 3.4%. Interested Kroll buyers, Marsh is apparently still interested in selling...
--MDT
11/07/2008
--MDT
Spitzer Skates on Sex Solicitation Charges
But that's not really news. The clients of high-end sex rings seldom face prosecution.
What is bigger news for the former New York Governor and moral crusader, is that investigators have found no misuse of civic or campaign funds.
The specter of such troubles has dogged Spitzer since the story of his frequent interstate sexcapades hit the newspapers.
Spitzer was only one of nine clients involved in the Emperor's Club bust from earlier in the year. At this point, the rest of the names, we'll probably never know.
-- MDT
11/06/2008
What is bigger news for the former New York Governor and moral crusader, is that investigators have found no misuse of civic or campaign funds.
The specter of such troubles has dogged Spitzer since the story of his frequent interstate sexcapades hit the newspapers.
Spitzer was only one of nine clients involved in the Emperor's Club bust from earlier in the year. At this point, the rest of the names, we'll probably never know.
-- MDT
Bayou Hedge Fund Swindler Gets Note From Doctor, Goes to Medical Prison
I know I am a little late posting this, but the past week has been all election all the time, so I apologize for my tardiness. If you have yet to read about the latest turn in the twisted tale of fraudster (and former dead guy), Sam Israel you can do so right here.
-- MDT
-- MDT
Labels: Bayou Group, hedge fund, Sam Israel
Former UBS Exec Gets Six and a Half Years on Insider Trading Conviction
Not the best week for Mitchel Guttenberg, who plead guilty back in February and is now facing a stout sentence of 6 and a half years for his role in a massive insider trading ring.
-- MDT
-- MDT
Labels: insider trading, Mitchel Guttenberg, UBS
Please Forgive the Continued Political Blogging
This was too good to pass up...
Siemens Sends Notice of Coming Settlement
They've set aside a$1.3 billion to help resolve the ongoing corruption probes in Europe and the U.S. While some had suggested that closing out the various investigations could prove much more costly, market analysts have referred to the probes as "essentially over" at this point. More on this at CFO.com, along with some additional detail fits into the bigger picture of the current state of European business ethics.
-- MDT
-- MDT
Labels: settlement, Siemens
All About the SEC's New Enforcement Manual
Via the Harvard Law School Corporate Governance Blog. Perhaps a bit dry reading for some, but worth a scan...
-- MDT
-- MDT
Labels: enforcement, SEC
Bear Stearns Risk Guru Joins NY Fed, Irony Not Lost on Some
The recent appointment of Michael Alix to a key post has ruffled more than a few feathers in the investor community. Alix was formerly the chief risk officer from 2006 to 2008 and global head of credit risk management from 1996 to 2006 for the now defunct house, Bear Stearns.
-- MDT
11/05/2008
-- MDT
Labels: Bear Stearns, Michael Alix
Some Fresh meat for You Independents
In Case You Were Wondering When the World Changed
It was on the chilly night of January 3rd in Iowa, with this speech from Barack Obama- one that made people believe:
And when the state of Ohio was called for Obama last night, you knew that the race was over. The rest was academic. At 11PM California, Washington and Oregon would tell the tale. It just so happened that Virginia and Florida were called then too, with many more states to follow - a wave of validation, an outpouring of support, a course correction for a nation that had come loose from its bearings.
Seeing the folks dancing and cheering up on U Street in DC last night was a deeply emotional experience. These are the very same streets that burned to the ground not so very long ago, with people full of rage and despair. Today, it is a different story. I was so moved that I had to get my baby girl up to see it, and to see Barack Obama accept the honor of becoming America's 44th President.
My wife and I sat (and at times stood, and paced and cheered and hugged) holding Clara in our arms and watched together, as living history unfolded before us. Throughout the evening we spoke to distant friends and family, and connected with many more over the internet, sending out tense, nervous missives that later gave way to an outpouring of congratulations, warm well wishes and shared hopes for a better tomorrow.
Of course, not everyone is waking up happy today in America, but hopefully we can all agree that the last eight years have been a rough road and that a little change is a good thing. Despite the honest, sincere disagreements Americans may have about the issues we face, I hope that we can all support Barack Obama has he ascends to the Presidency.
-- MDT
11/04/2008
And when the state of Ohio was called for Obama last night, you knew that the race was over. The rest was academic. At 11PM California, Washington and Oregon would tell the tale. It just so happened that Virginia and Florida were called then too, with many more states to follow - a wave of validation, an outpouring of support, a course correction for a nation that had come loose from its bearings.
Seeing the folks dancing and cheering up on U Street in DC last night was a deeply emotional experience. These are the very same streets that burned to the ground not so very long ago, with people full of rage and despair. Today, it is a different story. I was so moved that I had to get my baby girl up to see it, and to see Barack Obama accept the honor of becoming America's 44th President.
My wife and I sat (and at times stood, and paced and cheered and hugged) holding Clara in our arms and watched together, as living history unfolded before us. Throughout the evening we spoke to distant friends and family, and connected with many more over the internet, sending out tense, nervous missives that later gave way to an outpouring of congratulations, warm well wishes and shared hopes for a better tomorrow.
Of course, not everyone is waking up happy today in America, but hopefully we can all agree that the last eight years have been a rough road and that a little change is a good thing. Despite the honest, sincere disagreements Americans may have about the issues we face, I hope that we can all support Barack Obama has he ascends to the Presidency.
-- MDT
And it All Comes Down to This...
Former National Century CEO Gets Convicted
Lance Poulsen... Come on Down!
For your role in defrauding your investors of $2.9 billion, you have been found guilty of fraud, conspiracy and money laundering.
Tell him what he's won Roddy!
Well, Bob, sentencing has yet to take place, but Lance is looking at up to thirty years behind bars. This is on top of the current ten year sentence he's serving after being caught trying to bribe a key witness.
-- MDT
For your role in defrauding your investors of $2.9 billion, you have been found guilty of fraud, conspiracy and money laundering.
Tell him what he's won Roddy!
Well, Bob, sentencing has yet to take place, but Lance is looking at up to thirty years behind bars. This is on top of the current ten year sentence he's serving after being caught trying to bribe a key witness.
-- MDT
Labels: guilty, Lance Poulsen, National Century
1 Comments.
Anything illegal gets punished, right? A proven anecdotal handed down from generation to generation: one good deed gets good karma and vice- versa.If there’s a crime, there’s imprisonment waiting or so there is. Lance Poulsen isn't going to need a cash advance loan ever again. He won't need one because Lance Poulsen is going to be in prison for the rest of his life, in all likelihood. The 65 year old was convicted of corporate fraud, and after being handed a ten year sentence several years ago, has had another 30 years tacked onto the time he already has. His associates Karl Demmler, convicted of bribery, and Rebecca Parrett have also been convicted and sentenced, although Parrett has been a fugitive for months. Parrett and Poulsen are both liable for about $3 billion in restitution. However, it will take Lance Poulsen a long time to make that in license plates.
Post a Comment
Google Enables OCR for Indexed PDFs
Quite the boon to you investigative types...
Get the full tech specs over at ArsTechnica.
-- MDT
Get the full tech specs over at ArsTechnica.
-- MDT
Labels: investigation, research tools
