Daily Archives: November 20, 2013, 5:59 pm

Trader Sentenced to 30 Months in Prison for ‘Brazen, Ill-Conceived’ Scheme – Compliance Week

One year after taking down his entire brokerage firm through a scheme that the SEC labeled as “deliberate, brazen, and ultimately ill-conceived,” former trader David Miller was sentenced to 2 1/2 years in prison. Miller pleaded guilty in April 2013 to charges of wire fraud and conspiracy to commit wire and securities fraud. via Trader Sentenced to 30 Months in Prison for…

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Shareholders Obtain $882 Million Default Judgment in Longtop Financial Securities Suit — The D & O Diary

On November 14, 2013, Southern District of New York Judge Shira Scheindlin entered a default judgment order including a damages award of $882.3 million against Longtop Financial Technologies Ltd. and its former CEO, Wai Chau Lin. A copy of the order can be found here. However, as impressive as the size of this award is, the plaintiffs now have to try…

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JPMorgan to pay NY $1Bn over mortgage crisis — New York Post

Thousands of underwater homeowners across New York may see some financial relief from the record-setting $13 billion mortgage- bond settlement Tuesday between JPMorgan Chase and federal and state regulators. More than $1 billion in relief will be heading to the Empire State, according to state Attorney General Eric Schneiderman. via JPMorgan to pay NY $1Bn over mortgage crisis — New…

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