Federal authorities accuse a N.Y. man of involvement in a stock fraud scam that netted millions of dollars. – Federal authorities unsealed an indictment Feb. 1 in Detroit
accusing stock broker Gregg M. Berger of New York
of running a multimillion-dollar quot;pump-and-dump quot; scam for more than
two years.
The superseding indictment accuses Berger, 47, of conspiring with Alan
Ralsky, Francis Tribble,…
Posts Tagged ‘scheme’
N.Y. Broker Indicted in Pump-and-Dump Spam Scheme
New York Sues Accounting Giant Ernst & Young for Fraud in Connection with Lehman’s Repo 105, But the ENTIRE American Economy is a Ponzi Scheme
New York attorney general Andrew Cuomo is about to charge Lehman’s accountants, Ernst & Young, with fraud for allowing Lehman to cook its books using the infamous “Repo 105″ shell game. This comes only weeks after a Lehman retirement fund sued Leh…
Bill Gross: Bernanke Running a Bigger Ponzi Scheme than Charles Ponzi
Bill Gross writes today:Check writing in the trillions is not a bondholder’s friend; it is in fact inflationary, and, if truth be told, somewhat of a Ponzi scheme. Public debt, actually, has always had a Ponzi-like characteristic. Granted, the U.S…
Man Pleads Guilty in Pump and Dump Scheme
A man pleaded guilty Oct. 20 to being involved in a plot to inflate stock prices using spam, an army of computer hackers and other methods. – An Arizona man described by
the FBI as a computer specialist pleaded guilty Oct. 20 to participating
in a scheme to artificially inflate stock in a pump and dump scam.
James Bragg of Chandler, Ariz.,
pleaded guilty to a count of conspiracy to commit securities fraud and fraud
in connection wit…
Ukraine Police Arrest 5 over $70M Zeus Trojan Bank Scheme
The arrests keep coming in connection with a cyber-crime ring that used the Zeus Trojan to steal millions from bank accounts. – Ukraine police arrested five individuals accused of being part of a cyber-crime ring that used the Zeus Trojan to steal $70 million from U.S. bank accounts, the FBI said Oct. 1.
The arrests were made Sept. 30, and targeted people the FBI described as quot;key suspects responsible for this overarch…
Advance SCT says creditors ‘unanimous endorsement’ debt-restructuring scheme
Creditors of Mainboard-listed Advance SCT voted unanimously in favour of the company’s proposed debt-restructuring scheme at a creditors meeting held on 30 September 2010.
Advance SCT’s main business is in metal trading and resource recycling as well as wastes management. Advance SCT’s financial difficulties arose when commodity prices fell drastically in 2008. These financial difficulties were exacerbated in 2009 during the global financial crises, with debts increasing in excess of $80 million.
Apple Kickback Scheme Not Yet Singapore Investigation
Apple is still investigating an alleged kickback scheme by a midlevel manager, who is due in court today for a bail hearing, but Singapore’s anti-corruption department seems to be leaving the case so far to U.S. authorities. – Apple may have launched an investigation into an internal manager’s alleged
kickback scheme with Asian suppliers, but Singapore’s
Corrupt Practices Investigation Bureau (CPIB) is declining to say whether it
will investigate the matter on its own.
The Apple manager accused of accepting bribes and…
Apple Manager Charged in $1 Million Kickback Scheme Due in Court
Apple claims it has zero tolerance for dishonest practices, as an Apple global supply manager is due in court for an alleged kickback scheme involving six of the companys Asian component suppliers. – An Apple manager is due in federal
court Aug. 16, after his arrest last week for allegedly accepting $1 million in
kickbacks from some of the companys Asian suppliers.
Paul Shin Devine, a global supply manager for Apple, was
arrested Aug. 13 and charged with more than 23 counts related to…
Reasons to opt for a fleet fuel card scheme Posted By : Rutland
The benefits of introducing a fleet fuel card are plentiful and are even more obvious should a firm have high fuel spend. Primary reasons for businesses opting for fuel cards is the security offered coupled with ease of managing and monitoring fleets and fuel budgets.
Mayawati’s birthday with a difference – gifting monthly dole
A monthly dole for Uttar Pradesh’s poorest of the poor — that is the ambitious scheme to be launched on Chief Minister Mayawati’s 54th birthday, a day that has become notorious for her Bahujan Samaj Party (BSP) celebrating it as a fund raising event.
But this Jan 15, Friday, will be different. Instead of getting flak [...]
Centre revamps Swarna Jayanti Shahari Rozgar Yojana
The Union Housing and Urban Poverty Alleviation Ministry on Thursday comprehensively revamped the Swarna Jayanti Shahari Rozgar Yojana (SJSRY) with a view to providing gainful employment to the urban unemployed and underemployed.
The new scheme will commence with financial year 2009-2010.
The SJSRY which was launched in 1997 has five major components of Urban Self Employment Programme [...]
Man Indicted in Cable Modem Hacking Scheme
The FBI unsealed charges recently against Ryan Harris, 26, who they say developed hardware and software tools to enable people to configure their cable modems to give them free Internet access.
– Federal authorities unsealed charges in Boston
Nov. 2 against a man they allege developed tools to help people steal free
Internet access by modifying cable modems.
Charges against 26-year-old Ryan Harris, who has residences
in Redmond,
Ore., and San
Diego, were unveiled Nov. 2. According…
Symantec Uncovers Trojan Scheme Using Facebook
Researchers at Symantec find a Trojan that uses Facebook to communicate with a command and control server.
– Researchers at Symantec have uncovered a Trojan using Facebook as a
coordinator for its command and control server.
The Trojan malware, known to Symantec
as Whitewell, is being spread via e-mail through quot;documents (PDF, or
MS Office formats) containing exploits for known vulnerabilities, qu…
We are working to fulfill pro-poor schemes of YSR: Rosaiah
Andhra Pradesh Chief Minister K Rosaiah on Sunday said the government will strive to fulfill the ideals and pro-poor schemes of his predecessor late Y S Rajasekhara Reddy.
“Old age pension, Arogya Sri Health Insurance Scheme, loans at three per cent interest, Rs 2 a kg rice scheme, the large number of irrigation projects are [...]
Head of IBM Hardware Unit Charged in Insider Trading Scheme
Robert Moffat, senior vice president in charge of IBM’s hardware business, is one of seven people named by the SEC as part of an insider trading scheme that illegally netted $25 million. Moffat and Intel Treasury executive Rajiv Goel are among those accused of giving insider information on such companies as Google, AMD and Sun Microsystems to two managers at New York-based hedge funds, who allegedly used the information in their trades.
– Robert Moffat, a 31-year IBM veteran who
currently is in charge of the tech vendor’s hardware business, is one of seven
people charged in an insider trading scheme that federal investigators say
generated $25 million in illegal gains.
Moffat was named in a complaint Oct. 16 filed by the Securiti…
Federal Investigation Nets 100 in Phishing Scheme
The FBI partnered with Egyptian law enforcement to shut down a phishing ring authorities say was targeting American banks. The investigation, which began in 2007, represents the biggest cyber-crime roundup thus far in the United States.
– Authorities in the United States and Egypt have charged 100 people with
participating in a sophisticated phishing ring authorities say
defrauded two banks in the
United States.
Early today, police in cities across the United States arrested 33 of the 53 suspects named in a federal indictmen…
UK scrappage scheme
It is clear that Britain’s scrappage scheme has helped to stimulate the market and that’s a good thing. But there is a danger of people perhaps overdoing its importance to British manufacturing. It obviously is helping the retail sector, but the boost to British manufacturing is perhaps not as big as some people are implying. Some commentators – Professor Garel Rhys among them – have even argued that the money spent on subsiding car purchase would be better spent by being targeted specifically at manufacturers.
I wouldn’t quite go that far. I think the scheme has played an important role in kick-starting activity and we perhaps need to keep a pan-European perspective on this.
Booming sales in Germany, for example, will have also helped manufacturers with UK facilities – such as Nissan, Honda and Toyota. And there are many British suppliers to OEM plants in mainland Europe etc. National distinctions in terms of economic activity are a little blurred in Europe – UK vehicle producing plants export a big proportion of what is made here to mainland Europe.
But the UK sales figures for September issued by the SMMT are particularly interesting as they illustrate where the market boost from scrappage might be going. How many of these top ten models are made in Britain? Astra and Mini is about it. I’m not against the scrappage scheme – it has most definitely been needed given the scale of the market plunge this year – but let’s keep the talk of how it’s helping UK manufacturers in perspective, not least because government ministers need to appreciate that other support measures better targeted at manufacturers are important, too.
1 Fiesta 22,635
2 Corsa 16,379
3 Focus 13,622
4 Astra 13,190
5 Golf 11,787
6 207 9,161
7 MINI 8,634
8 3 Series 7,465
9 Yaris 6,896
10 1 Series 6,671
Mini-farms sprout in Mexican megalopolis
A low-budget scheme has transformed a rubbish dump in an impoverished part of Mexico City into an urban garden, raising hopes for a new shade of green revolution. Iztapalapa, a bustling borough of two million people within the greater sprawl of Mexico City’s 20 million people, is an unlikely
Expert on Structured Finance and Derivatives: Rampant Fraud and Ponzi Scheme Caused Crisis
Janet Tavakoli is one of the foremost experts on structured finance and derivatives.Tavakoli made an outstanding presentation to the IMF last week on the fraud which led to the financial crisis.Tavakoli was kind enough to send me a summary of the IMF p…



