NEW YORK, July 28 (Reuters) – The former chief operating
officer of Philip Falcone’s hedge fund Harbinger Capital
Partners has agreed to pay $200,000 to resolve charges he aided
a scheme to misappropriate fund assets, the U.S. Securities and
Exchange Commission said Monday.
The SEC said Peter Jenson also agreed to admit wrongdoing as
part of the accord, which would resolve a lawsuit the SEC
launched in 2012 against him, Falcone and Harbinger.
NEW YORK, July 26 (Reuters) – Texas tycoon Sam Wyly and the
estate of his late brother Charles should pay damages totalling
$1.41 billion for their role in a scheme that hid trades in
companies they controlled using offshore trusts, the U.S.
Securities and Exchange Commission said.
In a court filing late on Friday, the SEC said the amount
was justified by the finding of a New York federal court jury
that the Wylys had engaged in a fraud that over 13 years earned
them $553 million in profits that were not disclosed to
investors in the companies.
NEW YORK (Reuters) – A former Bank of America Corp derivatives trader who pleaded guilty to conspiring to falsify documents was spared prison on Friday after spending years helping the government probe bid-rigging in the $3.7 trillion municipal bond market.
Brian Zwerner, a former manager of Bank of America’s municipal derivatives desk, was sentenced to spend three years on probation and pay a $10,000 fine by U.S. District Judge Victor Marrero in New York.
NEW YORK (Reuters) – An investment adviser in his 70s was found guilty on Thursday on charges he defrauded clients by funneling money to a New York horse racing firm and small, thinly traded companies in exchange for secret kickbacks.
A federal jury in New York found James Tagliaferri, who managed TAG Virgin Islands, Inc in St. Thomas, guilty on 12 of 14 counts including investment adviser fraud, securities fraud, and wire fraud.
NEW YORK, July 24 (Reuters) – A U.S. judge on Thursday
expressed concern over a proposed $450 million settlement of
claims Apple Inc conspired with five publishers to fix
e-book prices, saying its provisions could drastically reduce
money paid to consumers depending on appeals.
U.S. District Judge Denise Cote in Manhattan said she found
“most troubling” a clause requiring Apple to pay only $70
million if an appeals court reversed her finding that the
company is liable for antitrust violations and sent it back to
her for further proceedings.
NEW YORK, July 24 (Reuters) – An Indonesian man once
considered one of the world’s top wine collectors was ordered
Thursday to forfeit $20 million for selling millions of dollars
of counterfeit bottles of wine to unsuspecting buyers.
Rudy Kurniawan, whose fall from grace made international
headlines, was ordered to forfeit the sum by U.S. District Judge
Richard Berman. The order came at a hearing that was originally
scheduled for his sentencing, which was delayed until Aug. 4.
NEW YORK (Reuters) – Bernard Madoff’s massive Ponzi scheme relied on reams of fake trading documents to fool regulators for decades.
Now he may be the victim of a forgery himself, after a U.S. judge on Wednesday denied a bizarre motion supposedly filed by Madoff that claimed the U.S. intelligence agencies used “bio-electric sensors” to influence the case against him.
NEW YORK (Reuters) – A federal judge on Wednesday said banks faced an uphill battle in convincing her to dismiss a U.S. regulator’s claims that they misled Fannie Mae and Freddie Mac into buying mortgage-backed securities that later went sour.
At a hearing in New York, U.S. District Judge Denise Cote cast doubt on whether she would revisit her ruling finding the Federal Housing Finance Agency (FHFA) did not wait too long in suing the banks.
NEW YORK (Reuters) – A court-appointed mediator in the Argentina debt dispute said he had to push back by a day the start of the latest round of settlement talks on Wednesday because the Argentine delegation “could not get here in time.”
Daniel Pollack, a New York lawyer appointed to oversee the settlement discussions, had scheduled a meeting for 10 a.m. EDT (1400 GMT) after a U.S. judge on Tuesday ordered the parties to meet “continuously” until a deal is reached.
NEW YORK, July 22 (Reuters) – A U.S. judge ordered Argentina
and investors who did not participate in the country’s past debt
restructurings to meet “continuously” with a court-appointed
mediator until a settlement is reached, warning of the threat of
a new default.
U.S. District Judge Thomas Griesa in New York told Argentina
and lawyers for investors who declined to restructure their
bonds after the country defaulted on about $100 billion in 2002
that time was running out to reach a deal and avert a fresh