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Dec 19, 2014

Man allegedly used Ponzi scheme proceeds to freeze deceased wife

NEW YORK (Reuters) – A man U.S. prosecutors say bilked investors out of $5 million by telling them he would invest it in commodities and currencies allegedly used some of the money to have his wife cryogenically frozen after she died, according to a court filing on Friday.

A federal grand jury in Manhattan indicted Whileon Chay, 38, with three counts of fraud for soliciting investor funds he said he would manage through a number of businesses, including New York-based 4X Solutions, according to the filing.

Dec 10, 2014

Insider trading cases face uphill path after convictions tossed

NEW YORK, Dec 10 (Reuters) – Insider trading cases may get
much tougher to prosecute after a U.S. appeals court overturned
the convictions of two former hedge fund managers, rocking the
foundations of Manhattan U.S. Attorney Preet Bharara’s Wall
Street crackdown.

The 2nd U.S. Circuit Court of Appeals in New York said
prosecutors presented insufficient evidence to convict Todd
Newman, a former portfolio manager at Diamondback Capital
Management, and Anthony Chiasson, co-founder of Level Global
Investors.

Dec 10, 2014

U.S. court reverses fund managers’ insider trading convictions

NEW YORK (Reuters) – A U.S. appeals court dealt federal
prosecutors a blow in their crackdown on insider trading on Wall
Street on Wednesday, overturning the convictions of two former
hedge fund managers charged with making illegal trades in
technology stocks.

The 2nd U.S. Circuit Court of Appeals in New York said
prosecutors presented insufficient evidence to convict Todd
Newman, a former portfolio manager at Diamondback Capital
Management, and Anthony Chiasson, co-founder of Level Global
Investors.

Dec 3, 2014

Exclusive: Lead prosecutor in ‘London Whale’ cases leaves U.S. government

NEW YORK (Reuters) – The lead prosecutor on pending criminal cases against two former JPMorgan Chase & Co traders involved in the “London Whale” scandal is leaving Manhattan U.S. Attorney Preet Bharara’s office to join a prominent defense firm, according to a statement from the firm viewed by Reuters in advance of its public release.

Eugene Ingoglia will become a partner at Morvillo Law on Thursday. His fraud cases against Javier Martin-Artajo and Julien Grout, two former London-based JPMorgan employees who allegedly tried to cover up trading positions that eventually cost the bank $6.2 billion, have both been slowed by extradition proceedings against Martin-Artajo, who is in Spain. Grout, who is living in France, is not subject to extradition and has so far not come to New York voluntarily.

Dec 3, 2014

Lead prosecutor in ‘London Whale’ cases leaves U.S. government

NEW YORK, Dec 3 (Reuters) – The lead prosecutor on pending
criminal cases against two former JPMorgan Chase & Co
traders involved in the “London Whale” scandal is leaving
Manhattan U.S. Attorney Preet Bharara’s office to join a
prominent defense firm, according to a statement from the firm
viewed by Reuters in advance of its public release.

Eugene Ingoglia will become a partner at Morvillo Law on
Thursday. His fraud cases against Javier Martin-Artajo and
Julien Grout, two former London-based JPMorgan employees who
allegedly tried to cover up trading positions that eventually
cost the bank $6.2 billion, have both been slowed by extradition
proceedings against Martin-Artajo, who is in Spain. Grout, who
is living in France, is not subject to extradition and has so
far not come to New York voluntarily.

Dec 2, 2014

Some Ferguson residents accuse police of aggressive arrest tactics

By Emily Flitter

FERGUSON, MO. (Reuters) – Some Ferguson-area residents arrested during racially charged protests in the Missouri town last week told Reuters they were unlawfully arrested by police and were just trying to get home when they were picked up and taken to jail.

    Reuters was not able to independently verify the allegations from the six individuals interviewed. Their accusations come amid an investigation by U.S. Attorney General Eric Holder into potential civil rights abuses by police in Ferguson during protests that first erupted over the summer following the police shooting of an unarmed black teenager.

Dec 1, 2014

Ferguson protesters lawyer up after scores of arrests

By Emily Flitter

FERGUSON, MO. (Reuters) – The young man and woman waiting in the dark outside the St. Louis county jail were bundled up in scarves and hats to ward off a light freezing rain, but still they were shivering. Every time someone emerged from the jail they would scurry with the person to a nearby car, which had the engine running and the heat blasting.

The pair were one of several teams working in shifts to help some of the more than 100 people who were arrested during last week’s sometimes violent protests in Ferguson, Missouri. Their job was to help the newly released individuals get legal aid for upcoming court appearances.

Nov 27, 2014

Protests and fundraising party rub shoulders in Ferguson, Missouri

By Daniel Wallis and Emily Flitter

FERGUSON, Mo. (Reuters) – After days dealing with racially charged unrest roiling his community, the mayor of Ferguson, Missouri, turned to a more relaxing challenge: a “rock ‘em, sock ‘em” table boxing tournament for charity.

Just three blocks from where a dozen protesters stood in the snow outside a police station, demanding the arrest of a white officer who fatally shot an unarmed black teen in August, the scene at Marley’s bar on Wednesday night could hardly have been more different.

Nov 26, 2014

In Ferguson, black residents stand guard at white-owned store

By Emily Flitter

FERGUSON, MO. (Reuters) – Since looting first erupted following the August police shooting of black teenager Michael Brown, nearly all the businesses in a 2 square mile area of this St Louis suburb have had to board up. All except one – a Conoco gas station and convenience store.

At least a dozen stores have been set ablaze and others looted in Ferguson in racially charged riots since a grand jury on Monday cleared white policeman Darren Wilson in the shooting, which has torn apart this predominantly black Missouri city.

Nov 18, 2014

U.S. says debt collector cheated 6,000 people in scheme

NEW YORK, Nov 18 (Reuters) – U.S. authorities arrested seven
people on Tuesday for what they said was a multimillion-dollar
scam by a debt collection company that victimized more than
6,000 people, and a prosecutor said a wider crackdown was
underway.

Williams Scott & Associates LLC wrongly threatened people
with arrest, used aliases such as “Investigator Ace Rogers” and
tried other tricks to collect at least $4.1 million from
consumers whose debt it bought for pennies on the dollar,
prosecutors said.

    • About Emily

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