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You are browsing the archive for August 2009.
SEC Files Case Against Madoff CFO Frank DiPascali with New Details of Scam
The SEC today charged Bernard Madoff’s CFO, Frank DiPascali, with securities fraud. The SEC alleges that DiPascali oversaw the mechanics of Madoff’s entirely fictitious investment strategy and created “millions of phony documents and trading records to conceal the fraud from regulators and investors.” Full details of what SEC Enforcement Director Robert Khuzami called “an extraordinary [...]
DiPascali Agrees to “Tell All and Name Names” in Madoff Matter
Frank DiPascali, said to be Bernard Madoff’s right hand man in his Ponzi scheme, will “tell all and name names” pursuant to a plea agreement announced today in federal court. ABC News reports that DiPascali pleaded guilty to nine counts, and was then released after posting a $2.5 million dollar bond. His sentencing is scheduled [...]
On SEC Funding, Congress Must Put Up or Shut Up (or Give Up and Allow Self-Funding)
When it comes to funding the SEC, it is time for Congress to put up, shut up, or perhaps just give up and allow the SEC to self-fund.
U.S. Attorney Thomas O’Brien to Join Paul, Hastings in Los Angeles
Thomas O’Brien, the U.S. Attorney for the Central District of California, will be joining law firm Paul, Hastings, Janofsky & Walker LLP as a partner in its Los Angeles office. The firm announced today that O’Brien will join its Litigation Department and will focus primarily on white collar matters. O’Brien was nominated to be U.S. [...]
CNBC Video: Will DiPascali Give Up Others in Madoff Scheme?
In this CNBC video, Erin Arvedlund, author of the new book, “Too Good to Be True: The Rise and Fall of Bernie Madoff” discusses today’s hearing involving Madoff’s right-hand man, Frank Di Pascali. Arvedlund beieves DiPascali will provide investigators with a huge amount of information on others involved in the fraud.
Securities Docket A.M. News Wire for August 11, 2009
DOJ Looks for ‘Rock Star’ to Lead Its Fraud Section; Judge Attacks Merrill Pre-Merger Bonuses, Demands More Information Before Approving SEC Settlement; State Street Discloses Receipt of Wells Notice from SEC; State Street Says Subprime Reserve May Be Insufficient; NERA: SEC Settlements Values Remain High; Enron… The Play; BofA, SEC to Defend Merrill Settlement Today; and more.
State Street Discloses Receipt of Wells Notice from SEC
In its Form 10-Q filed August 7, 2009, State Street Corp. disclosed that on June 25, 2009, SEC staff sent it a Wells notice related to the SEC’s ongoing investigation into disclosures and management by SSgA of its active fixed-income strategies during 2007 and prior periods. The company stated that The SEC Staff has informed [...]
CNBC Video: Hearing Today on SEC’s Proposed Settlement with BofA
In this video, CNBC’s Mary Thompson discusses the refusal of U.S. District Judge Jed S. Rakoff to sign off on the settlement between Bank of America and the SEC, setting up a hearing today on the matter.
After Insider Trading Settlement, Aufhauser Rejoins Williams & Connolly
The American Lawyer reports that sometime, very quietly, in the last year, David Aufhauser rejoined powerhouse law firm Williams & Connolly. Aufhauser was previously the former general counsel and managing director of UBS. Aufhauser was most recently mentioned in Securities Docket, however, in October 2008, when we noted here that Aufhauser had agreed to forfeit [...]