Daily Archives: February 18, 2009, 11:59 pm

Feb. 24 Webcast: Liability of Professionals in the Financial Crisis

On February 24, 2009, at 2:00 pm EST, Securities Docket will host a webcast entitled, “Liability of Professionals in the Financial Crisis” featuring two of the top lawyers in the securities litigation field.  Stuart Grant of Grant & Eisenhofer P.A. and Michael Young of Willkie Farr & Gallagher LLP will addresses critical questions now arising as to the potential liability…

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Israel: Israel Securities Authority Arrests Investment Bank CEO on Insider Trading Charges

On Tuesday, the Israel Securities Authority arrested Nir Burnstein, CEO of Poalim Capital Markets, on “suspicions of a major insider trading scheme.”  Poalim Capital Markets is the investment branch of Israel’s Bank Hapoalim.  The Jerusalem Post reports that Burnstein allegedly warned stockbroker Ofer Izenberg, of expected losses to Bank Hapoalim due to the global economic crisis, and informed him of…

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Several Banks Offer Compensation to Madoff Investors

Several banks involved in the Madoff scandal have offered forms of compensation to investors.  As previously discussed here, Spanish bank Santander offered to repay victims in the alleged Madoff fraud to avoid lawsuits. Other banks, however, have also made offers.  FT reports that these banks include: Celfin Capital, a mid-sized investment bank in Chile, which announced a restitution plan for…

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Attorney for Stanford’s “Disaffirmation” of Prior Statements Was Red Flag for SEC

The SEC announced yesterday that it has charged Robert Allen Stanford and three of his companies for orchestrating a fraudulent, multi-billion dollar investment scheme centering on an $8 billion CD program. News reports today indicate that the actions of a Stanford attorney who disaffirmed prior statements to the SEC about Stanford played a part in the SEC’s investigation. According to…

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