Equipment rental company Ahern Rentals announced it will need additional time to continue developing its restructuring plan, a Dow Jones Daily Bankruptcy Review article said. Bloomberg Businessweek reported that billionaire Tom Gores' Platinum Equity is contemplating a take over of Ahern. read more

MAR 28, 2012 - 8:25 am

The SEC has applied to a U.S. District Court for an order enforcing subpoenas issued during its investigation into possible fraud in the offer and sale of nearly $60 billion of residential mortgage-backed securities by Wells Fargo. read more

MAR 26, 2012 - 8:35 am

Reuters reported that CIT Group won preliminary court approval of a $75 million settlement to resolve allegations the commercial lender fraudulently misled shareholders about its exposures to risky mortgages and student loans. read more

MAR 26, 2012 - 8:30 am

Ocean shipping company Trailer Bridge has exited Chapter 11 protection, a Transport Topics article announced. With its emergence from bankruptcy, the company will now be majority owned by Seacor Holdings. read more

MAR 26, 2012 - 7:55 am

Bloomberg reported that Siemens First Capital Commercial Finance was sued for breach of contract over the cancellation of an initial public offering for a security-alarm service business. read more

MAR 23, 2012 - 8:20 am

A postal worker faces felony charges for submitting fraudulent invoices totaling more than $4 million from his truck leasing company to the U.S. Postal Service, according to documents filed in the U.S. District Court in Oakland, CA. read more

MAR 21, 2012 - 8:35 am

U.S. District Judge R. David Proctor sentenced a former equipment leasing company executive to two years in prison for wire fraud in connection to a $1.2 million embezzlement scheme, announced U.S. Attorney Joyce White Vance. read more

MAR 16, 2012 - 8:25 am

The chief executive of BCI Aircraft Leasing, Brian Hollnagel, was convicted of six counts of wire fraud and one count of obstruction of justice by a federal jury in a $50 million fraudulent financing scheme. read more

MAR 15, 2012 - 8:35 am

EFI defendant Harold W. Young is scheduled to change his plea on March 29, according to federal court documents. His trial in the loan fraud case had been scheduled for April 5. read more

MAR 15, 2012 - 8:30 am

Reuters reported that CIT asked a federal judge to approve a $75 million settlement proposal with former CIT shareholders in a class-action securities fraud lawsuit over actions preceding the large commercial lender's 2009 bankruptcy. read more

MAR 14, 2012 - 8:35 am

Bruce Donner, owner of Donner Medical Marketing, was sentenced to 18 months in prison for his role in a $135 million medical equipment leasing Ponzi scheme that defrauded lenders out of least $80 million. read more

MAR 9, 2012 - 8:15 am

The Mainichi Daily News reported that Tokyo prosecutors have indicted former Olympus chairman and president Tsuyoshi Kikukawa, and five other individuals, on charges of falsifying financial statements to cover up massive investment losses. read more

MAR 8, 2012 - 8:00 am

CIT notes in its recent 10-K filing it has raised its estimates for a range of potential losses as up to $360 million in excess of established reserves and insurance related to various legal matters including tax litigation with Tyco and lease agreements with defunct bottling company Le-Nature's. read more

MAR 1, 2012 - 8:30 am

Color-Web, a division of 1800Postcards.com, said it has sued People's Capital and Leasing, alleging fraud and breach of contract. The amount of the claim is $13.8 million. read more

FEB 23, 2012 - 8:20 am

Bloomberg reported that Wells Fargo's Wachovia Capital Markets settled investor claims that it failed to disclose signs of fraud at Le-Nature's as it arranged a $285 million loan before the drink maker's bankruptcy. read more

FEB 22, 2012 - 8:08 am