Nate's Feed
Jun 30, 2015

Financier Lynn Tilton fails to block SEC fraud case

NEW YORK (Reuters) – A U.S. judge on Tuesday rejected New York financier Lynn Tilton’s bid to block the U.S. Securities and Exchange Commission from trying her before an administrative law judge for defrauding investors.

U.S. District Judge Ronnie Abrams in Manhattan dismissed Tilton’s lawsuit against the SEC, saying the head of Patriarch Partners lacked power to stop the agency from pursuing its case against her and her private equity firm in its in-house court.

Jun 30, 2015

U.S. seeks up to $3.35 billion in Novartis kickback lawsuit

NEW YORK (Reuters) – The United States says Novartis AG
should pay as much as $3.35 billion in damages and
civil fines because the Swiss drugmaker used kickbacks to boost
sales of two drugs covered by Medicare and Medicaid.

In papers filed Monday night in Manhattan federal court, the
government said it deserves that sum under the federal False
Claims Act over alleged improper reimbursements for Exjade, used
by patients who receive blood transfusions, and Myfortic, for
patients with kidney transplants.

Jun 30, 2015

Apple conspired to fix e-book prices: U.S. appeals court

NEW YORK (Reuters) – A divided federal appeals court on Tuesday said Apple Inc (AAPL.O: Quote, Profile, Research, Stock Buzz) orchestrated a conspiracy with five publishers to increase e-book prices, in a victory for the U.S. Justice Department.

By a 2-1 vote, the 2nd U.S. Circuit Court of Appeals agreed with a lower court judge that the conspiracy violated federal antitrust law, and that the judge acted properly in imposing an injunction to prevent a recurrence.

Jun 24, 2015

Accused Turkish mastermind of $55 million cyber spree extradited to U.S.

NEW YORK (Reuters) – A Turkish man has been extradited to the United States to face charges that he organized three cyberattacks that resulted in $55 million in losses to the global financial system, U.S. authorities announced on Wednesday.

Prosecutors called Ercan Findikoglu, 33, the mastermind behind an organization whose hacks resulted in stolen debit card data being distributed worldwide and being used to make fraudulent ATM withdrawals.

Jun 23, 2015

Ex-UBS trader asks U.S. judge to dismiss Libor scheme case

NEW YORK (Reuters) – A Manhattan federal judge on Tuesday
questioned why a former UBS AG trader’s bid to dismiss
a criminal case accusing him of scheming to manipulate the Libor
rate should even be considered when the U.S. government calls
him a fugitive.

Lawyers for Roger Darin, a Swiss citizen, had asked U.S.
District Judge Paul Crotty to overturn a federal magistrate’s
decision in March that rejected an earlier bid to dismiss the
Justice Department’s complaint.

Jun 23, 2015

Swede gets 4-3/4 years in U.S. prison over BlackShades software

NEW YORK (Reuters) – The leader of an organization called
BlackShades was sentenced to 4-3/4 years in a U.S. prison on
Tuesday for distributing software that authorities say was used
to hack into half a million computers worldwide.

Alex Yucel, a 25-year-old Swede, was sentenced by U.S.
District Judge Kevin Castel in Manhattan after pleading guilty
in February to distribution of malicious software.

Jun 23, 2015

Ex-Dominican anti-drug official gets U.S. prison time for drug scheme

NEW YORK (Reuters) – A former top official of the Dominican Republic’s main counter-drug agency was sentenced on Tuesday to four years in a U.S. prison after pleading guilty to conspiring with drug traffickers to transport cocaine into the United States.

Francisco Hiraldo-Guerrero, who was once chief of operations for the Dominican National Directorate for Drug Control, was also ordered by U.S. District Judge John Keenan in Manhattan to forfeit more than $1 million.

Jun 23, 2015

Former U.S. agent to plead guilty to bitcoin theft in Silk Road probe

By Nate Raymond

(Reuters) – A former federal agent has agreed to plead guilty to stealing bitcoins during the government’s investigation of Silk Road and secretly soliciting payment from the operator of the online black market for information on its probe.

Carl Force, a former U.S. Drug Enforcement Administration agent, has agreed to plead guilty on July 1 to charges of extortion, money laundering and obstruction of justice, according to papers filed on Monday in federal court in San Francisco.

Jun 23, 2015

New York City, U.S. agree to reforms for Rikers jail complex

NEW YORK (Reuters) – New York City has agreed to carry out
reforms at its Rikers Island jail complex to resolve U.S.
Justice Department claims that guards regularly used unnecessary
force against inmates, U.S. officials said on Monday.

In a letter filed in federal court in New York, Manhattan
U.S. Attorney Preet Bharara’s office said the deal included
appointing a federal monitor to oversee the reforms at Rikers,
one of the largest jail complexes in the country.

Jun 22, 2015

U.S., NYC reach deal over reforms for Rikers jail complex

NEW YORK (Reuters) – New York City has agreed to carry out a series of reforms at its Rikers Island jail complex to resolve U.S. Justice Department claims that guards regularly used unnecessary force against inmates, U.S. officials said on Monday.

In a letter filed in federal court in New York, Manhattan U.S. Attorney Preet Bharara’s office said the deal included appointing a federal monitor to oversee the reforms at Rikers, one of the largest jail complexes in the country.