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General Electric Agrees to Pay $1.5 Billion Penalty for Alleged Misrepresentations Concerning Subprime Loans Included in Residential Mortgage-Backed Securities

Department of Justice Office of Public Affairs FOR IMMEDIATE RELEASE Friday, April 12, 2019 The Department of Justice today announced that General Electric (GE) will pay a civil penalty of $1.5 billion under the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA) to resolve claims involving subprime residential mortgage loans originated by WMC […]

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Investment Fraud New York Our Daily News Securities Fraud US Department of Justice (DOJ)

Former Precious Metals Trader Pleads Guilty to Attempted Commodities Price Manipulation

Department of Justice Office of Public Affairs FOR IMMEDIATE RELEASE Thursday, July 25, 2019 A former precious metals trader at the New York offices of a U.S. bank and a Canadian bank pleaded guilty today to attempted price manipulation of precious metals futures contracts, announced Assistant Attorney General Brian A. Benczkowski of the Justice Department’s […]

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Quad/Graphics and LSC Communications Abandon Merger After Antitrust Division’s Suit to Block

Department of Justice Office of Public Affairs FOR IMMEDIATE RELEASE Tuesday, July 23, 2019 Decision to Terminate Deal Preserves Competition in Magazine, Catalog, and Book Printing Markets The Department of Justice announced today that Quad/Graphics Inc. and LSC Communications Inc. have abandoned their planned merger.  The Department filed suit on June 20, 2019, to block […]

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President of Insulation Contracting Firm Pleads Guilty to Antitrust and Fraud Charges

Department of Justice Office of Public Affairs FOR IMMEDIATE RELEASE Wednesday, July 17, 2019 Paul M. Camara Jr., president and co-owner of an insulation contractor, pleaded guilty today in Bridgeport, Connecticut, for his role in schemes to rig bids in violation of the antitrust laws and engage in criminal fraud on insulation contracts, marking the […]

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Antitrust Division Announces New Policy to Incentivize Corporate Compliance

Department of Justice Office of Public Affairs FOR IMMEDIATE RELEASE Thursday, July 11, 2019 During remarks today, Assistant Attorney General Makan Delrahim announced the Antitrust Division’s new policy for incentivizing antitrust compliance. For the first time, the Division will consider compliance at the charging stage in criminal antitrust investigations, a change which is reflected in […]

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Heir Location Services Company and Co-Owner Plead Guilty To Antitrust Charge for Long-Running Agreement Not to Compete

Department of Justice Office of Public Affairs FOR IMMEDIATE RELEASE Wednesday, July 10, 2019 Pleas Follow Court’s Ruling That the Per Se Rule Applies to Alleged Customer Allocation Conspiracy Kemp & Associates Inc., a Salt Lake City-based heir location services provider, and its co-owner, Daniel J. Mannix, pleaded guilty to allocating customers with another heir […]

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Home Wrecker – Progressive.org

The Great Recession may be over, but abusive mortgage servicers are still at work, and they’re transforming neighborhoods into rental markets. — Read on progressive.org/magazine/home-wrecker-abusive-mortgage-servicer-transforms-neighborhoods/

Banking & Securities Fraud Federal Bureau of Investigation (FBI) Investment Fraud Our Daily News Securities Fraud US Department of Justice (DOJ) US Securities and Exchange Commission (SEC)

Former Financial Services Executive Pleads Guilty To Rigging Bids for Financial Instruments in Violation of Antitrust Law

Department of Justice Office of Public Affairs FOR IMMEDIATE RELEASE Thursday, June 27, 2019 First Individual Defendant Pleads Guilty in Ongoing Pre-Release ADRs Investigation Larry D. Meyers, the former head of the securities lending desk at Banca IMI Securities Corp., pleaded guilty to a criminal antitrust charge for his involvement in a bid-rigging conspiracy for […]

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Justice Department Sues to Block Quad’s Acquisition of LSC

Department of Justice Office of Public Affairs FOR IMMEDIATE RELEASE Thursday, June 20, 2019 Acquisition Would Eliminate Quad’s Principal Competitor in Magazine, Catalog, and Book Printing The Department of Justice filed a civil antitrust lawsuit today seeking to block Quad/Graphics Inc.’s proposed acquisition of LSC Communications Inc. in order to preserve competition in the markets […]

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Former District of Columbia Attorney Previously Found Guilty of $2 Million Investment Fraud Scheme Pleads Guilty to Not Filing Tax Return

Department of Justice Office of Public Affairs FOR IMMEDIATE RELEASE Thursday, June 20, 2019 A former attorney recently convicted of securities fraud by a jury in the District of Columbia, pleaded guilty today to failure to file an income tax return and pay taxes, announced Principal Deputy Assistant Attorney General Richard E. Zuckerman of the […]

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Walmart Inc. and Brazil-Based Subsidiary Agree to Pay $137 Million to Resolve Foreign Corrupt Practices Act Case

Department of Justice Office of Public Affairs FOR IMMEDIATE RELEASE Thursday, June 20, 2019 Walmart Inc. (Walmart), a U.S.-based multinational retailer and its wholly owned Brazilian subsidiary, WMT Brasilia S.a.r.l. (WMT Brasilia), have agreed to pay a combined criminal penalty of $137 million to resolve the government’s investigation into violations of the Foreign Corrupt Practices […]

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Alleged Cryptocurrency Fraudster Arrested in Thailand, Charged in Multi-Million Dollar Investment Scheme

Department of Justice Office of Public Affairs FOR IMMEDIATE RELEASE Wednesday, June 19, 2019 In a criminal complaint unsealed today, a citizen of Sweden and his company were charged with securities fraud, wire fraud and money laundering in a scheme to defraud potential investors. Assistant Attorney General Brian A. Benczkowski of the Justice Department’s Criminal […]

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House Deal Would Keep ExIm Bank Functioning Through 2026 – WSJ

A House agreement would give new life and political stability to an embattled agency that smooths export deals between U.S. manufacturers and overseas buyers. — Read on www.wsj.com/articles/house-deal-would-keep-exim-bank-functioning-through-2026-11560900814

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Statement of the Department of Justice Antitrust Division on the Closing of Its Investigation of the Louisiana Health Service & Indemnity Co.–Vantage Holdings Inc. Merger

Department of Justice Office of Public Affairs FOR IMMEDIATE RELEASE Tuesday, June 18, 2019 Assistant Attorney General Makan Delrahim of the Antitrust Division of the U.S. Department of Justice issued the following statement today in connection with the closing of the Division’s investigation into the proposed acquisition of Vantage Holdings, Inc. (Vantage) by Louisiana Health […]

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Second New York Broker-Dealer Pleads Guilty To Rigging Bids for Financial Instruments in Violation of Antitrust Law

Department of Justice Office of Public Affairs FOR IMMEDIATE RELEASE Friday, June 14, 2019 Sentenced to Criminal Fine in Excess of $3 Million Industrial and Commercial Bank of China Financial Services LLC (ICBCFS) pleaded guilty to an antitrust charge and was sentenced to pay a criminal fine in excess of $3 million for its involvement […]

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Canon Inc., Toshiba Corporation Agree to Pay $5 Million for Violating Federal Antitrust Laws

Department of Justice Office of Public Affairs FOR IMMEDIATE RELEASE Monday, June 10, 2019 Canon and Toshiba failed to observe the required waiting period in Canon’s $6.1 billion acquisition of Toshiba’s Toshiba Medical Systems Corporation Canon Inc. and Toshiba Corporation have agreed to settle federal charges that the companies violated the premerger notification and waiting […]

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Department of Justice Opens Review of ASCAP and BMI Consent Decrees

Department of Justice Office of Public Affairs FOR IMMEDIATE RELEASE Wednesday, June 5, 2019 As part of The Department of Justice’s ongoing review of legacy antitrust judgments, the Antitrust Division today announced that it has opened a review of its consent decrees with The American Society of Composers, Authors and Publishers (ASCAP) and Broadcast Music, […]

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Cost of exec’s retirement flagged in Q1 $9.4m loss by CV Sciences

POSTED BY: HEMPTODAY™  MAY 9, 2019 U.S.-based CBD maker CV Sciences lost $9.4 million in the first quarter of 2019, the company said in a report issued May 8, 2019. The losses were “primarily related to additional stock-based compensation and payroll expense associated with the retirement of the company’s founder and former President and Chief Executive Officer,” Michael Mona, Jr., […]

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Loan Broker Sentenced To Nine Years In Federal Prison For Bank Fraud Conspiracy To Fraudulently Obtain More Than $100 Million In Sba-Backed Business Loans

Department of JusticeU.S. Attorney’s Office District of Maryland FOR IMMEDIATE RELEASE Friday, May 24, 2019 A Fugitive Since 2011, Defendant was Extradited from South Korea in 2019 to Face the Federal Charges Baltimore, Maryland – U.S. District Judge Catherine C. Blake today sentenced Loren Young Park, age 52, formerly of Falls Church, Virginia, to nine years […]

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Former, current Dayton officials face federal fraud, bribery charges

By: Paul Rodzinka  Posted: Apr 30, 2019 09:53 AM EDT Updated: Apr 30, 2019 06:45 PM EDT 1.6K Related Coverage Dayton City Manager taking action amid federal investigation Investigators committed to rooting out ‘culture of corruption’ in Dayton Accused City of Dayton employee placed on unpaid leave amid fraud investigation Former City Commissioner, State Rep. appear in […]