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Oct 31, 2014

Exclusive: American Realty Capital facing criminal probe over accounting – sources

NEW YORK (Reuters) – U.S. authorities have opened a criminal probe of American Realty Capital Properties in the wake of the real estate investment trust’s disclosure that it had uncovered accounting errors, two sources familiar with the matter said on Friday.

The Federal Bureau of Investigation is conducting the investigation along with prosecutors from U.S. Attorney Preet Bharara’s office in New York, the sources said. Further details of the probe could not be learned.

Oct 31, 2014

American Realty Capital facing criminal probe over accounting-sources

NEW YORK, Oct 31 (Reuters) – U.S. authorities have opened a
criminal probe of American Realty Capital Properties in
the wake of the real estate investment trust’s disclosure that
it had uncovered accounting errors, two sources familiar with
the matter said on Friday.

The Federal Bureau of Investigation is conducting the
investigation along with prosecutors from U.S. Attorney Preet
Bharara’s office in New York, the sources said. Further details
of the probe could not be learned.

Oct 15, 2014

Wife of convicted ex-SAC employee petitions to keep cash, home

NEW YORK, Oct 15 (Reuters) – A federal judge in Manhattan
will soon have to weigh in on how the family of a convicted
insider trader should live while the man spends nearly a decade
in federal prison.

The wife of Mathew Martoma, who was caught using secret tips
to trade two stocks while working for SAC Capital Advisors,
asked a court on Wednesday to let her keep the couple’s $2.2
million Florida home and roughly $4.5 million in cash, according
to a filing.

Oct 14, 2014

Ex-Merck analyst faces insider trading charges on merger tips

NEW YORK (Reuters) – Federal criminal prosecutors in New York charged a former Merck & Co Inc employee with conspiracy to commit fraud for tipping a contact about potential mergers, including Merck’s takeover of Idenix Pharmaceuticals ahead of a public announcement in June, according to a court filing on Tuesday.

In charging Zachary Zwerko, the filing referred only to “the pharmaceutical company where he was employed at the time.” But his profile on the business networking site LinkedIn describes him as a former senior analyst for Merck and his lawyer confirmed that Zwerko worked at Merck during the relevant period. The lawyer declined to comment on the case.

Oct 9, 2014

U.S. SEC delays decision on fate of $602 mln SAC settlement

NEW YORK, Oct 9 (Reuters) – The U.S. Securities and Exchange
Commission on Thursday asked a judge for more time to decide
whether money from a $602 million settlement with SAC Capital
Advisors should go to investors claiming they are victims of
SAC’s insider trading scheme.

The decision is being closely watched because of the size of
the settlement, as well as the significance of a ruling by the
SEC on whether victims can indeed be identified in insider
trading cases.

Oct 8, 2014

U.S. judge to decide state secrets procedure in Iran case

NEW YORK, Oct 8 (Reuters) – The U.S. government on Wednesday
asked a federal judge in Manhattan to dismiss a private civil
lawsuit against an Iran sanctions group on national security
grounds without any public explanation for the reason.

If the judge agrees, it would mark the first time the
government had invoked the state secrets privilege without
publicly explaining its motivation for doing so.

Oct 3, 2014

U.S. SEC to decide if investors share in $600 mln SAC settlement

NEW YORK, Oct 3 (Reuters) – The U.S. Securities and Exchange
Commission will decide next week whether investors in two drug
stocks at the center of the largest-ever insider trading case
are entitled to compensation.

If the SEC rules in their favor, the investors could seek a
portion of the $602 million the SEC collected in a settlement
from a division of SAC Capital Advisers after former portfolio
manager Mathew Martoma was caught trading on secret tips. It
would be the SEC’s largest payout ever to insider trading
victims. The settlement money would otherwise go to the U.S.
Treasury.

Sep 29, 2014

Watchdog won’t force brokers to insure against U.S. legl action

NEW YORK, Sept 29 (Reuters) – The industry group that
regulates securities brokerages has decided it cannot force
firms to carry insurance for payment of awards granted by
arbitration panels or courts to customers who have lost money, a
spokeswoman said on Monday.

After agreeing a year ago to consider an insurance
requirement, officials from the Financial Industry Regulatory
Authority decided they could not impose one.

Sep 22, 2014

Leader of Iran sanctions group launches non-profit to fight terror financing

NEW YORK (Reuters) – The leader of a Manhattan-based non-profit that tries to put pressure on Iran by publicly criticizing people and firms who do business there announced on Monday he is launching a new non-profit devoted to tracking terrorist financing.

The announcement comes less than two weeks after an unusual move by the U.S. government to intervene in a private lawsuit against the group, United Against Nuclear Iran.

Sep 12, 2014

U.S. uses state secrets law to intervene in Iran-related lawsuit

NEW YORK, Sept 12 (Reuters) – The U.S. government has moved
to invoke a powerful national security law to dismiss a private
lawsuit against a non-profit group, United Against A Nuclear
Iran, on grounds that the case could reveal state secrets,
according to a court filing on Friday.

Lawyers for the government argued that proceedings in the
private dispute between a Greek businessman and U.S.-based UANI
could “cause harm to national security” if they are allowed to
continue. The document in federal court in New York said the
secrets were “properly classified national security information”
which would be described in another filing that would not be
made public.

    • About Emily

      "Based in New York covering financial crimes, including insider trading, investment scams, accounting fraud and financial firm misconduct."
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