Nate's Feed
Apr 1, 2015

Strippers at N.Y. club get $15 mln settlement for unpaid wages

NEW YORK (Reuters) – Exotic dancers at a Midtown Manhattan strip club will receive up to $15 million in a settlement announced on Wednesday resolving a lawsuit claiming they were employees unfairly classified as independent contractors.

The settlement, disclosed in court papers, came after a Manhattan federal judge in November awarded dancers at its Rick’s Cabaret club $10.9 million and ahead of a April 27 trial over further amounts they sought.

Apr 1, 2015

KBR to pay SEC penalty in whistleblower protection case

By Nate Raymond

(Reuters) – KBR Inc has agreed to pay $130,000 to
settle what the U.S. Securities and Exchange Commission on
Wednesday called its first whistleblower protection case over
improperly restrictive language in confidentiality agreements.

The SEC said that the Houston-based oil services company
violated a federal regulation by requiring witnesses in internal
investigations to sign confidentiality agreements that warned of
possible discipline if they discussed the matters with outside
parties.

Apr 1, 2015

N.Y. lawyer charged for alleged role in scheme over Maxim magazine

NEW YORK (Reuters) – A New York lawyer was arrested on Wednesday for his alleged role in a scheme by the son of a former United Parcel Service Inc executive to fraudulently obtain millions of dollars to finance the purchase of Maxim magazine, the lawyer’s counsel said.

Harvey Newkirk, a former lawyer at the law firm Bryan Cave LLP, was charged in a criminal complaint filed in Manhattan federal court with conspiracy, wire fraud and aggravated identity theft.

Apr 1, 2015

KBR to pay SEC penalty over whistleblower protection violation

April 1 (Reuters) – KBR Inc has agreed to pay
$130,000 to settle what the U.S. Securities and Exchange
Commission on Wednesday called its first whistleblower
protection case over improperly restrictive language in
confidentiality agreements.

The SEC said that the Houston-based oil services company
violated a federal regulation by requiring witnesses in internal
investigations to sign confidentiality agreements that warned of
possible discipline if they discussed the matters with outside
parties.

Mar 31, 2015

Ex-Fannie Mae CEO testifies in $1 bln mortgage trial of Nomura, RBS

NEW YORK (Reuters) – Former Fannie Mae CEO Daniel
Mudd testified on Tuesday in a $1 billion civil trial over
losses the company suffered on mortgage-backed securities and
said it did not predict the severe decline in U.S. housing
prices during the financial crisis.

Mudd appeared in Manhattan federal court after being
subpoenaed by Nomura Holdings Inc and Royal Bank of
Scotland Group Plc to testify in a trial pursued by
Fannie’s conservator, the Federal Housing Finance Agency.

Mar 31, 2015

Swiss asset manager pleads guilty in U.S. over tax dodge scheme

NEW YORK (Reuters) – A Swiss asset manager pleaded guilty on
Tuesday to participating in a scheme to help U.S. citizens hide
millions of dollars in Swiss bank accounts and evade paying
taxes.

Peter Amrein, 53, entered his plea in Manhattan federal
court to conspiring to defraud the United States and Internal
Revenue Service. The case is one of a number spilling out of a
broad crackdown by the United States on offshore tax evasion by
Americans.

Mar 31, 2015

Former U.S. agents charged for bitcoin theft during Silk Road probe

By Nate Raymond and Lisa Lambert

(Reuters) – The U.S. Justice Department announced charges on Monday against two former federal agents accused of stealing the digital currency bitcoin during the investigation of the underground drug marketplace Silk Road.

Carl Force, a former Drug Enforcement Administration agent, and Shaun Bridges, a special agent with the Secret Service, were charged in a criminal complaint filed in San Francisco federal court with offenses including wire fraud and money laundering.

Mar 30, 2015

J&J, Glaxo settle U.S. lawsuit over allergy ads

NEW YORK, March 30 (Reuters) – GlaxoSmithKline Plc
has agreed to settle a lawsuit by Johnson & Johnson
accusing it of using false advertising at the start of the U.S.
allergy season to grab market share.

The settlement was disclosed during a hearing in Manhattan
federal court on Monday in which two Johnson & Johnson units
were expected to ask a judge to block Glaxo from making various
claims about its allergy nasal spray Flonase, records show.

Mar 30, 2015

Ex-Bank of Montreal trader to pay $14.2 million for trading scam

NEW YORK (Reuters) – Bank of Montreal’s former top natural gas trader was ordered to pay $14.2 million in restitution on Monday after pleading guilty to charges that he inflated the value of his portfolio and conspired with others to deceive the bank.

David Lee, 43, was spared prison time by U.S. District Judge Loretta Preska in Manhattan in light of his years of cooperating with authorities investigating a trading scheme that contributed to a C$853 million loss in Bank of Montreal’s commodities trading business for 2007.

Mar 30, 2015

Former U.S. agents charged for bitcoin theft during black market probe

By Nate Raymond and Lisa Lambert

(Reuters) – The U.S. Justice Department announced charges on Monday against two former federal agents accused of stealing the digital currency bitcoin during the investigation of the underground drug marketplace Silk Road.

Carl Force, a former Drug Enforcement Administration agent, and Shaun Bridges, a special agent with the Secret Service, were charged in a criminal complaint filed in San Francisco federal court with offenses including wire fraud and money laundering.