Legal / Fraud

Baker Hughes Sued For Faulty Equipment

According to Bloomberg, a German natural-gas storage company is suing Baker Hughes, accusing the oil field service company of supplying defective safety valves. read more

Blank Rome Represents J.F. Lehman In Ravn Air Group Acquisition

Blank Rome acted as legal counsel to J.F. Lehman in its acquisition of the Ravn Air Group, the largest regional air transportation provider in Alaska. read more

DLL, Investor Victimized by $3.5MM Fraud Scheme

De Lage Landen and other investors were allegedly defrauded $3.5 million by Michael Conway, the president of Choice Office Solutions. read more


Reuters: GE Capital Ponzi Scheme Lawsuit Dismissed

Reuters reported that a federal judge dismissed a lawsuit brought by Ritchie Capital Management against GE Capital alleging of aid in a Ponzi scheme. read more

California Judge Denies Northern Leasing’s Motion to Dismiss

A California federal judge denied a motion to dismiss a RICO lawsuit from Northern Leasing and affiliate businesses brought on by business owners who claim that they were falsely persuaded into leasing credit card machines under undisclosed and onerous terms. read more


Former Citi Trader Gets 14 Years for Libor Rigging

The Irish Times reported that former Citi trader Tom Hayes was sentenced to 14 years in jail after he became the first person to be convicted by a jury of rigging Libor. read more

JPMorgan, Simpson Sued Over GM Loan Mistake

Bloomberg reported that one of the participants in a $1.5 billion term loan that JPMorgan Chase made to GM before its bankruptcy is now suing the bank and its lawyers at Simpson Thacher & Bartlett. read more


Proposed Warren Capital Settlement Could Close Case

According to the North Bay Business Journal, court appointed receiver Michael Kasolas proposed a $2.2 million dollar settlement to be disbursed among nearly 70 investors. read more

Suit Claims 22 Banks Manipulated Treasury Securities

In a complaint filed in the U.S. District Court in New York on Thursday, 22 banks were accused of manipulating the market for Treasury securities. read more

Former Gulfstream Executive Sentenced for Embezzlement

Former Gulfstream executive Marvin Jay Caukin was sentenced to more than 11 years in prison for embezzling more than $10 million. read more

SEC Charges Phony Hedge Fund Manager with Defrauding Small Companies

The Securities and Exchange Commission announced fraud charges against a New Jersey man accused of posing as a hedge fund manager and defrauding small companies out of more than $4 million. read more

SEC Charges CSC and Former Executives with Accounting Fraud

The SEC charged Computer Sciences and former executives with manipulating financial results and concealing significant problems about the company’s largest and most high-profile contract. read more

May Commercial Chapter 11 Bankruptcies Increase 16%

Commercial chapter 11 filings increased 16% to 498 filings in May 2015 from the 431 commercial Chapter 11 filings registered in May 2014, according to data provided by Epiq Systems. read more

Ex-Dewey LeBoeuf Execs to Be Tried on Basis of Emails

The Wall Street Journal reported that emails will play a starring role in the criminal trial over the collapse of the Dewey & LeBoeuf law firm. read more

Banks Plead Guilty to FX Fraud, Agree to Pay $5.8B+

Global claimant firm Hausfeld said five defendants, including Barclays, Citicorp, JPMorgan, RBS and UBS, have agreed with the U.S. Department of Justice to plead guilty to violating U.S. law through their conduct in the FX market. read more

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Terry Mulreany
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