Investors who successfully withdrew money before the collapse of Bernard Madoff's mammoth Ponzi scheme should pay back $150 million to offset the losses of other investors, according to a lawsuit filed by Madoff Investment Securities trustee Irving Picard.
A group of banks agreed to a $586 million settlement with a group of investors after nearly a decade of negotiations. The investors sued over bank requirements that allegedly served to artificially inflate stock prices during the IPOs of tech companies.
The American Medical Association, a leading advocacy association for doctors and patients, is suing WellPoint, the nation's largest health insurance provider. The suit is the latest in a series against insurance providers alleging price-fixing to maximize profits.
Maurice Greenberg, former CEO of foundering insurance giant AIG, is suing the company for securities fraud. He claims the company's misrepresentations led him to acquire its stock at an artificially inflated price as part of his executive compensation plan.
Bernard L. Madoff, a prominent stock trader and fixture on Wall Street for more than four decades, was arrested at his Manhattan home on Thursday, December 11 by federal agents and charged with defrauding investors of billions of dollars.
New York Stock Exchange regulators today banned stockbroker Charles Winitch from working for member firms for a period of five years after he pocketed over $100,000 making unauthorized trades using the accounts of injured children.
Judge Kenneth Karas has ordered convicted swindler Samuel Israel to undergo a thorough evaluation in order to determine whether or not Israel is competent to plead guilty to bail-jumping charges.
Nakami Chi Group Ministries International co-owner Gregg Wolfe has admitted the business took millions in investment funds from church groups and used new investors’ money to make interest payments and cover their tracks.
A former pastor from Colorado Springs has been ordered to pay $1.4 million and serve 15 years' probation for his role in a scam that defrauded investors of more than $12 million.
©2008 Einstein Law All Rights Reserved