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May 29, 2015

Creator of Silk Road website faces sentencing for drug scheme

NEW YORK (Reuters) – The accused mastermind behind the underground website Silk Road will be sentenced on Friday for orchestrating a scheme that enabled more than $200 million of anonymous online drug sales using the digital currency bitcoin.

Ross Ulbricht, 31, faces up to life in prison after a federal jury in Manhattan found him guilty in February of charges including conspiracy to commit drug trafficking, money laundering and computer hacking.

May 28, 2015

Ex-Wells Fargo analyst settles U.S. SEC insider trading case for $75,000

NEW YORK, May 28 (Reuters) – A former Wells Fargo & Co
analyst has agreed to pay $75,000 to resolve charges by
U.S. regulators that he engaged in insider trading with an
employee at the bank.

The U.S. Securities and Exchange Commission revealed the
settlement with Gregory Bolan, the trader, in an order made
public Thursday. The agency previously confirmed reaching a deal
in March ahead of a trial but did not at the time provide terms.

May 28, 2015

Ex-Madoff auditor, employee avoid prison after cooperating

NEW YORK, May 28 (Reuters) – A former outside auditor and a
former human resources employee of Bernard Madoff’s firm avoided
prison on Thursday, after cooperating with authorities
investigating the now-imprisoned swindler’s multibillion-dollar
Ponzi scheme.

The auditor, David Friehling, was sentenced by U.S. District
Judge Laura Taylor Swain in New York to a year of home
confinement, and to pay his share of a symbolic $130 billion
joint forfeiture with other defendants.

May 28, 2015

Ex-Madoff auditor sentenced to home confinement

NEW YORK (Reuters) – The former outside auditor for Bernard Madoff’s firm was sentenced on Thursday to a year of home confinement, avoiding prison after cooperating with U.S. authorities investigating Madoff’s multibillion-dollar Ponzi scheme.

U.S. District Judge Laura Taylor Swain in New York also ordered David Friehling to pay his share of a $130 billion joint penalty assessed symbolically to him and other defendants convicted for roles in the fraud.

May 28, 2015

Apple fails to disqualify antitrust monitor in e-books case

NEW YORK (Reuters) – A federal appeals court on Thursday rejected Apple Inc’s bid to disqualify an antitrust compliance monitor appointed after the technology company was found liable for conspiring with five publishers to raise e-book prices.

While saying some allegations against the monitor Michael Bromwich “give pause,” the 2nd U.S. Circuit Court of Appeals in New York said a lower court judge did not abuse her discretion in rejecting Apple’s bid to end his two-year appointment early.

May 28, 2015

Apple loses bid to disqualify antitrust monitor -US court

NEW YORK (Reuters) – A federal appeals court on Thursday
rejected Apple Inc’s bid to disqualify an antitrust
compliance monitor who was appointed after the company was found
liable for conspiring with publishers to raise the prices of
e-books.

The 2nd U.S. Circuit Court of Appeals in New York said a
lower court judge did not abuse her discretion in rejecting
Apple’s bid to disqualify Michael Bromwich as monitor.

May 26, 2015

Silk Road drug site staff member avoids further U.S. prison time

NEW YORK (Reuters) – An Australian man who moderated the
discussion forums on the underground drug website Silk Road was
sentenced to time served on Tuesday after already being in
custody for 17 months.

Peter Nash, 42, dropped his head into his hands as U.S.
District Judge Thomas Griesa in Manhattan announced the
sentence, which came after he provided prosecutors information
about his conduct and pleaded guilty.

May 26, 2015

Yemen man pleads guilty to al Qaeda scheme to kill U.S. military

NEW YORK (Reuters) – A Yemeni man who prosecutors said was a member of al Qaeda and engaged in attacks against U.S. military forces stationed in Iraq and Afghanistan pleaded guilty on Tuesday to conspiring to kill Americans overseas.

    Saddiq al-Abbadi, 40, pleaded guilty in federal court in Brooklyn, New York, to four counts including conspiracy to murder U.S. nationals abroad and conspiracy to provide material support to a foreign terrorist organization.

May 26, 2015

Connecticut exec flees U.S. after insider trading, fraud claims -SEC

By Nate Raymond

(Reuters) – A Connecticut venture capital executive accused
of insider trading and of cheating his clients out of tens of
millions of dollars has fled the country, the U.S. Securities
and Exchange Commission said.

Iftikar Ahmed, a former general partner at Oak Investment
Partners, left the United States some time before May 18 in
violation of a judge’s order in the criminal insider trading
case restricting his travel to three U.S. states, the SEC said
in a court filing last week.

May 20, 2015

Wall St regulatory panel clears ex-bond trader of insider trading

NEW YORK (Reuters) – A former bond trader at Angelo, Gordon
& Co has been cleared of charges brought by Wall Street’s
self-regulator that he had given a friend inside information
about a company that was majority-controlled by his investment
firm.

A panel ruled on Monday that the Financial Industry
Regulatory Authority failed to prove that Matthew Sheerin had
disclosed material non-public information to a friend at G-2
Trading LLC about C&D Technologies Inc, an
electrical power storage systems manufacturer.