Legal Eagle Review
Fund Manager and Real Estate Developer Arrested and Charged in $96 Million Securities Fraud Scheme
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- Written by LER
A 24-count indictment was unsealed this morning in federal court in Central Islip, New York, charging Brian R. Callahan, an investment fund manager, and Adam J. Manson, a real estate developer, with conspiracy to commit securities and wire fraud for their roles in operating a $96 million Ponzi scheme. Both defendants are in custody and will be arraigned before United States Magistrate Judge A. Kathleen Tomlinson at the United States Courthouse in Central Islip.
Investor Pleads Guilty for Role in Bid-Rigging Scheme at Municipal Tax Lien Auctions
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- Written by LER
Newark, New Jersey - A financial investor who purchased municipal tax liens pleaded guilty today for his role in a conspiracy to rig bids for the sale of tax liens auctioned by municipalities in New Jersey, the Department of Justice announced.
SEC Seeks to Halt Scheme Raising Investor Funds Under Guise of JOBS Act
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Spokane, Washington The Securities and Exchange Commission today announced fraud charges against a Spokane Valley, Wash., company and its owner for misleading investors with claims to raise billions of investment capital under the Jumpstart Our Business Startups (JOBS) Act and invest it exclusively in American businesses.
SEC Charges Capital One with Understating Auto Loan Losses
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- Written by LER
Washington, DC - The Securities and Exchange Commission today charged Capital One Financial Corporation and two senior executives for understating millions of dollars in auto loan losses incurred during the months leading into the financial crisis.
Investors to Receive Their Entire Investments Back After SEC Halted Scheme Exploiting Immigration Program
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- Written by Legal Eagle Review
Washington, DC - The Securities and Exchange Commission today announced that investors in a fraudulent investment scheme that offered foreign investors a path to citizenship will get their money back promptly thanks to the SEC’s recent court action. A federal district court judge has ordered the return of all investors’ principal investment in the fraudulent securities offering.
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