Crime & Punishment
Is Walter White working out of North Korea? Read More
Up & Down the Street
Federal prosecutors are suing to seize the assets associated with a Russian crime syndicate that allegedly funneled dirty money into high-end real estate as part of a $230 million scheme.
Investigators claim that corrupt officials stole the identity of New York corporations, obtaining fraudulent tax refunds in their name, according to published reports.
“A Russian Read More
Up & Down the Street
Last Thursday, when the government charged SAC Capital with perpetrating an insider-trading scheme from 1999 through 2010, the move answered a lot of questions people had been asking of late. The main one: given the fact that the Feds had yet to charge SAC’s founder, Steven Cohen, with any crimes, was he going to get off scot-free while an ever-growing number of his henchmen were charged with—and convicted for—crimes committed under his watch? Was it the same old story, in which another of Wall Street’s powerful avoids punishment for something he quite likely encouraged and most definitely profited from? The refreshing answer: not this time. The U.S. attorney for the Southern District, Preet Bharara, plays hardball, and he just threw a fastball right at Mr. Cohen’s chin.
If you’re a fan of magic, one of the most enjoyable evenings available in New York City is a wonderful little show put on by one Steve Cohen out of a suite at the Waldorf Astoria several evenings a week. Mr. Cohen, known as “the millionaires’ magician,” thrills with sleight of hand and a witty banter that evokes the old-school parlor magicians of yore. But the highlight of his show is a segment in which he tells members of the audience things about themselves that he really shouldn’t know. Go see for yourself; it’s mind-boggling. Mr. Cohen has made quite a career out of his talent—he even had a special on the History Channel last week—but he may be in the wrong line of work.
See, there’s another man named Steve Cohen who has also made quite a career out of seemingly knowing things he shouldn’t know. Call him “the billionnaire magician.”
The U.S. economy added 171,000 jobs last month, more jobs than economists expected last month, in a report that may benefit President Barack Obama’s hopes for re-election.
The numbers, which have been closely followed in political circles, showed unemployment rising to 7.9 percent from 7.8 percent last month, hitting the average estimate of Read More
Manhattan U.S. Attorney Preet Bharara announced the Halloween-worthy arrest of 28-year-old NYPD officer Gilberto Valle III today. Mr. Valle, who was stationed at the 26th Precinct, has been charged with kidnapping, conspiracy and illegal use of a federal law enforcement database.
Those charges aren’t strange at all, considering the crimes were allegedly committed as part of a plot with co-conspirators to kidnap and cannibalize as many as 100 women.
Politico got its hands on a copy of Greg Smith’s Why I Left Goldman Sachs, and published some excerpts yesterday. There’s an allegation that the bank advised clients to buy and sell stock options on European banks amid the region’s ongoing debt crisis, so that the firm could profit by taking the other Read More
Prosecutors filed new charges against five employees of Bernard L. Madoff Investment Securities in documents filed today, alleging that the conspiracy to defraud investors in the firm dated to at least the early 1970s, and adding charges relating to corporate and personal loans and new tax offenses.
The superseding indictment adds new charges against Daniel Bonventre, who worked for Mr. Madoff for 40 years, eventually rising to the position of director of operations, as well as Annette Bongiorno and Joann Crupi, and brings charges against BLMIS computer programmers Jerome O’Hara and George Perez for the first time.
A former Credit Suisse banker was arrested in London today, according to The Wall Street Journal nearly six months after being indicted by U.S. prosecutors for allegedly faking data to boost end-of-year bonuses.
In February, U.S. Attorney Preet Bharara charged Kareem Serageldin, a former global head of the Swiss bank’s collateralized debt obligation business, with masterminding a scheme to mismark positions in asset-backed securities, helping Mr. Serageldin and his traders meet targets linked to annual bonuses.
Raj Rajaratnam didn’t, nor did Rajat Gupta, nor did any of the other seven defendants to stand trial during the government’s ongoing crackdown on insider trading testify in their own defense. Whitman Capital founder Doug Whitman, accused of earning about $1 million by trading on privileged information, did, testifying to his innocence over the course Read More