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Stanford found guilty on charges of fraud and conspiracy
- Sedgwick LLP
- -
- USA
- -
- March 28 2012
On March 6, 2012, three years after R. Allen Stanford was indicted for fraud, a federal jury returned a verdict against Stanford with regard to a $7 billion Ponzi scheme involving nearly 30,000 investors worldwide
Ninth person indicted in Rothstein Ponzi scheme
- Sedgwick LLP
- -
- USA
- -
- April 30 2012
Attorney Steven Lippman was indicted earlier this month for his role in the Rothstein Ponzi scheme occurring within the former law firm of Rothstein, Rosenfeldt and Adler
Picard seeks recovery from Madoff wives
- Sedgwick LLP
- -
- USA
- -
- April 30 2012
Irving Picard, the trustee in charge of recovering approximately $20 billion from the Madoff Ponzi scheme, may now seek claims against the wives of Bernard Madoff's two sons according to a recent court order
Department of Justice signals uptick in financial crisis criminal actions
- Sedgwick LLP
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- USA
- -
- March 28 2012
On March 6, 2012, the DOJ announced that it intends to promptly bring criminal cases against both banks and individuals for their roles in selling risky mortgage-backed securities and for committing other crimes that deepened the financial crisis
Picard lawsuit against JPMorgan dismissed
- Sedgwick LLP
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- USA
- -
- November 30 2011
Irving Picard's lawsuit against JPMorgan Chase & Co. styled Picard v. JPMorgan Chase & Co., 11-cv-913, in the U.S. District Court, Southern District of New York, was dismissed on November 1, 2011
No firings in response to investigations of SEC employees' response to Madoff scheme
- Sedgwick LLP
- -
- USA
- -
- November 30 2011
On November 11, 2011, the SEC revealed that although it had disciplined eight employees for their handling of the Madoff Ponzi scheme, it did not fire any employees
Hundreds of former Madoff investors seek dismissal of Picard's actions to recoup profits
- Sedgwick LLP
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- USA
- -
- November 30 2011
On October 6, 2011, 313 former Madoff investors filed a motion to dismiss Irving Picard's "clawback" action brought against them in 108 separate actions. Since being appointed trustee of the assets seized by Madoff, Picard has filed more than 1,000 lawsuits in an attempt to recoup funds from investors who, Picard contends, withdrew investment funds in excess of the amount they invested
Former investors file class action complaint against JPMorgan seeking $19 million
- Sedgwick LLP
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- USA
- -
- November 30 2011
Less than a week after Judge McMahon dismissed Picard's lawsuit against JPMorgan, former Madoff clients filed a class action lawsuit against the bank seeking to recover $19 million
Washington Mutual executives agree to settle securities suit
- Sedgwick LLP
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- USA
- -
- October 31 2011
In a securities suit against former Washington Mutual (WaMu) directors and officers alleging misstatements surrounding the company's problems in its mortgage lending business, plaintiffs have asked a U.S. District Court in Seattle to approve a $41.5 million settlement
"Beverly Hills Madoff" sentenced to seven years in federal prison
- Sedgwick LLP
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- USA
- -
- October 31 2011
Ezri Namvar and Hamid Tabatabai, owners of California-based investment company Namco Capital Group (Namco), received a guilty verdict on four counts of wire fraud in the theft of $21 million
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- Firm Name - Sedgwick LLP
- Author - Matthew M. Ferguson
- Author - Eric C. Scheiner
- Author - Jennifer Hamilton
- Workarea - White Collar Crime