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6/30/2009
Choice Madoff Victim Quote
6/29/2009
Madoff Gets 150 Years
Kroll, R. Allen Stanford and Beating Back the Regulators
TD International Partner Lawsuit Continues
NHL Hires Kroll to Investigate Would-Be Team Owner, Jim Balsillie
When Your Financial Advisor is Charged With Fraud
Former Siemens Manager, Two Others Face Charges in Munich
Nick Popovich, Lear Jet Repo Man
Quellos Indictment Unsealed...
Cali PONZI Scheme Brokwn Up, Trio Face Charges
Former Credit Suisse Banker is Fully a Fugitive
Madoff Scandal Cuts Short Father-Son Chats
So Wait, the DOJ Issues a "Stand Down" Order on Stanford Investigation 6/02/2009
Enron Telecom Exec Pleads Guilty, Faces Home Confinement
SEC Investigates Itself, Details in August
SEC Returns to Pequot Capital Investigation 6/01/2009
Kroll Investigations
Choice Madoff Victim Quote
"I urged the judge to sentence him for the rest of his life, so that when he leaves prison, which means after his death, virtually unmourned by anyone on this earth, that he will then go down to the depths of hell where he will join those other people who are in the 'mouth of satan.'"
-- Burt Ross, the former mayor of Fort Lee, New Jersey
-- Burt Ross, the former mayor of Fort Lee, New Jersey
Labels: Bernie Madoff, convicted
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Madoff Gets 150 Years
Madoff said he "will live with this pain, this torment, for the rest of my life." 150 years was the maximum sentence on the 11 counts on which Madoff was convicted back in March.
Meanwhile the search for Madoff's missing $65 billion continues.
-- MDT
6/22/2009
Meanwhile the search for Madoff's missing $65 billion continues.
-- MDT
Labels: Bernie Madoff, convicted
Kroll, R. Allen Stanford and Beating Back the Regulators
A nice clip from Felix Salmon, citing this Bryan Burroughs article from the new issue of Vanity Fair (and I must say, that while I don't often read VF, their recent piece of Bernard Madoff was also quite excellent). The Key graph from the Burrough's piece, as it comes to Stanford and Kroll:
-- MDT
...says the former F.B.I. agent Burrough spoke with. "Kroll was essentially running a propaganda campaign in defense of Stanford's good name. They beat on me many times: 'Hey, you got this guy all wrong, he’s not a money launderer, he's a great guy, leave him alone.'According to Burroughs, the Stanford account was worth millions to Kroll over the years. Allen Stanford was arrested and indicted earlier this month after a lengthy public preamble as well as several close calls from regulators over the years. He is currently in Federal custody.
-- MDT
Labels: Kroll, R. Allen Stanford
TD International Partner Lawsuit Continues
Get Steven Fleischmann's side of the story in his Motion to Dismiss... If you need a bit of background as to why TD International might be suing one of their partners, try here and here.
-- MDT
6/15/2009
-- MDT
NHL Hires Kroll to Investigate Would-Be Team Owner, Jim Balsillie
Got to hate it when former associates of your target start speaking on the record (negatively) about your interview calls:
-- MDT
...when recently retired Research In Motion vice-president Peter Broughall received a call from one of Kroll's investigators this week, he felt that the line of questioning didn't jibe with what he considered normal corporate protocol.More here...
'If this is due diligence, I found it surprising that the line of questioning was not in line with trying to seek accurate positive information as well as negative,' Broughall says....
'If this is due diligence, I found it surprising that the line of questioning was not in line with trying to seek accurate positive information as well as negative,' Broughall says.
The investigator, who told Broughall that he represented the NHL, said he had been given his name by another former RIM employee. 'I was suspicious going in that this was not something sanctioned by Jim..."
-- MDT
Labels: Kroll
When Your Financial Advisor is Charged With Fraud
A few survival tips from Ron Lieber at the New York Times, speaking from personal experience.
Former Siemens Manager, Two Others Face Charges in Munich
Michael Kutschenreuter, Siemens former head of finance for Siemens communications is the latest to face repercussions from the Siemens bribery scandal that continues to dog the global engineering firm. Two others have been charged alongside Kutschenreuter, but their names as of this writing have not been made public.
What is interesting about Kutschenreuter is that he had previously provided information to prosecutors regarding his superiors at Siemens, specifically former Siemens CFO, Heinz- Joachin Neuburger.
-- MDT
6/10/2009
What is interesting about Kutschenreuter is that he had previously provided information to prosecutors regarding his superiors at Siemens, specifically former Siemens CFO, Heinz- Joachin Neuburger.
-- MDT
Labels: Michael Kutschenreuter
Nick Popovich, Lear Jet Repo Man
Very, very colorful story from Salon. Worth your time.
Should you need a super-repo, you can find Popovich right here.
-- MDT
6/08/2009
"Popovich is a super repo man, one of a handful of specialists who get the call when a bank wants back its Gulfstream II jet from, say, a small army of neo-Nazi freaks. For the past three decades, Popovich has been one of a secret tribe of big game hunters who specialize in stealing jets from the jungle hideouts of corrupt landowners in Colombia, Mexico and Brazil and swiping go-fast boats from Wall Street titans in Miami and East Hampton... For a cut of the overall value, they'll repossess anything. But Popovich is the most renowned of them all -- the Ernest Hemingway of super repo men."Like I said, colorful. And wacth for that Bernie Madoff cameo...
Should you need a super-repo, you can find Popovich right here.
-- MDT
Quellos Indictment Unsealed...
...And what two prominent lawfirms are implicated in signing off for the dodgy tax shelters that got Quellos in hot water in the first place? Here's a hint. The go by CSM and BC in the indictment. See the AMLaw Daily for more.
--MDT
--MDT
Labels: Quellos, tax shelters
Cali PONZI Scheme Brokwn Up, Trio Face Charges
I know it seems quaint, a mere $23 million ponzi scheme. Nonetheless, the Feds have cracked it. If you had cash with Financial Solutions of Inland Empire, I'd make a call.
-- MDT
6/07/2009
-- MDT
Labels: Catherine Lipscomb, Chirstiano Kawika Hashimoto Jr., David Lincoln Johnson, Financial Solutions, ponzi scheme
Former Credit Suisse Banker is Fully a Fugitive
Julian Tzolov slipped house arrest one month past, as has officially ended up as a Fugitive, according to a recent announcement from Federal Prosecutors. Tzolov had been out on bail since April and had reportedly been working on a plea deal.
Guess it fell through.
--MDT
Guess it fell through.
--MDT
Labels: Credit Suisse, Julian Tzolov
Madoff Scandal Cuts Short Father-Son Chats
While suspicion continues to swirl around Bernard Madoff's family and close associates ($65 billion kicks up a heck of a lot of dust) their father's arrest apparently shut down communications completely between Madoff and his two sons, Andrew and Mark. And yet, their parting was not without a certain sentimentality, according to The Telegraph:
One parting gift that the younger Madoffs will amost certainly have to accept is continuted prosecutorial scrutiny. Both are expected to face charges in relation to the investigation of their dad. Bernard Madoff is scheduled to be sentenced later this month on fraud charges. Meanwhile, hope dwindles that the billions Madoff swindled will ever be recovered.
-- MDT
A few days after confessing to his fraud to them, Madoff sent each of his sons a package containing expensive watches and jewelry. One of the packages alone contained a vintage "Paul Newman" Rolex Daytona, a Piaget and a Cartier tank among a dozen watches. In an enclosed note, Madoff wrote: "Dear Mark + Andy, If you can keep these watches, they are given with my love. If not, give them to someone who might. Love Dad."Andrew and Mark reportedly informed the authorities about the gifts, which violated their father's asset freeze. The brothers have also cut ties with their mother, Ruth as well although they both claim that she had nothing to do with their father's misdeeds.
One parting gift that the younger Madoffs will amost certainly have to accept is continuted prosecutorial scrutiny. Both are expected to face charges in relation to the investigation of their dad. Bernard Madoff is scheduled to be sentenced later this month on fraud charges. Meanwhile, hope dwindles that the billions Madoff swindled will ever be recovered.
-- MDT
Labels: Andrew Madoff, Bernie Madoff, Mark Madoff
So Wait, the DOJ Issues a "Stand Down" Order on Stanford Investigation 6/02/2009
Enron Telecom Exec Pleads Guilty, Faces Home Confinement
Didn't we finish with these guys a long time ago? Enron Broadband CFO Kevin Howard is finally getting his day in court, where he entered a guilty plea on one charge of falsifying a financial filing. Howard could be sentenced to a year of home confinement. This is cake compared to his former boss, Enron Broadband CEO Kenneth Rice who is currently serving out a 27 month sentence in a Louisiana Federal prison.
-- MDT
-- MDT
Labels: Enron, Kenneth Rice, Kevin Howard
SEC Investigates Itself, Details in August
The commission's inspector general, H. David Kotz, is conducting a review of more than a million emails from 27 SEC employees. The goal? To get to the bottom of how the securities regulator missed out on the Bernard Madoff fraud despite several close looks in recent years. The review was ordered by outgoing SEC chairman Chris Cox.
Kotz's office has also conducted interviews of several dozen witness and contracted with an outside forensic accounting firm to review previous reports from the SEC's Office of Compliance Inspections and Examinations, which inspected Madoff's firm as many as seven times in the last decade. The Inspector General's findings are expected in August. Stay tuned.
-- MDT
Kotz's office has also conducted interviews of several dozen witness and contracted with an outside forensic accounting firm to review previous reports from the SEC's Office of Compliance Inspections and Examinations, which inspected Madoff's firm as many as seven times in the last decade. The Inspector General's findings are expected in August. Stay tuned.
-- MDT
Labels: Bernie Madoff, Christopher Cox, David Kotz
SEC Returns to Pequot Capital Investigation 6/01/2009
Kroll Investigations
