Legal / Fraud

Two More Le-Nature's Defendants Get Jail Time

The Pittsburgh Post-Gazette reported that Jonathan E. Podlucky, former COO of Le-Nature's, and Donald K. Pollinger, a businessman who aided in the juice company's financial fraud, were each sentenced to five years in prison. read more

U.S. Files $150MM Suit Against Medical Imaging Company

The complaint alleges that Universal Imaging was required to be organized as a non-profit, but it continued to operate as a for-profit corporation by transferring its equipment to a for-profit entity, MRI Leasing, with the same owners. read more

Le-Nature's President Gets Fifteen-Year Sentence for Fraud

The Pittsburgh Post-Gazette reported that former Le-Nature's president Robert B. Lynn was sentenced to 15 years in prison for his role in the company's financial fraud. Tammy Andreycak, the accounting director whose cooperation with federal agents was key for the prosecution, was sentenced to five years in prison. read more

Former CEO of GDC Acquisitions Found Guilty of Fraud

A federal jury returned guilty verdicts against Courtney Dupree, the former CEO of GDC Acquisitions. Dupree was found guilty of bank fraud against Amalgamated Bank, GDC's asset-based lender, of $21 million in fraudulent loans. read more

2011 Recap: Healthcare, Medical/Telecom Bankruptcies Dominate

According to BankruptcyData, a total of 82 publicly traded companies filed for bankruptcy protection under Chapter 7 and Chapter 11, listing $104.2 billion in combined pre-petition assets. This figure compares to the year-end 2010 filing total of 106 bankruptcies and $89.1 billion in assets. read more

Olympus Plans to Reinforce Oversight of its Management

According to a report posted by Mainichi Daily News, scandal-mired Olympus is planning to increase the proportion of outside directors to half its board in a bid to reinforce oversight of its management. read more

Law Firms to Investigate Sale of RSC Holdings

The law firms of Levi & Korsinsky and Bull & Lifshitz announced separately that each is launching an investigation of the sale of RSC Holdings to United Rentals. read more

Bankruptcy Judge Rules Against CIT In Tyco Dispute

In an opinion issued on Dec. 22, U.S. Bankruptcy Judge Allan L. Gropper has ruled against CIT in a tax dispute with its former parent company Tyco International. read more

Chicago Area Businessman Pleads Guilty of Defrauding GE Capital

Chicago area businessman and political fundraiser Tony Rezko was spared from serving more time in prison after pleading guilty of defrauding GE Capital out of $10 million in loans to finance the sale of a pizza restaurants in Chicago and Milwaukee. read more

Three EFI Defendants Face Additional Charges

A federal grand jury indicted Equipment Finance Inc. loan fraud defendants Misty L. Kroesen, her husband Curtis A. Kroesen and Harold W. Young on multiple new counts, the Lancaster Intelligencer Journal reported. read more

Wife, Son of Le-Nature's CEO Guilty of Money Laundering

The Pittsburgh Post-Gazette reported that a federal jury found the wife and son of former Le-Nature's CEO Gregory J. Podlucky guilty of money laundering in connection with the company's fraudulent scheme using fake books to raise hundreds of millions of dollars from lenders. read more

Allied Health Care's Schwartz Gets 16 Years in Leasing Fraud

Bloomberg reported that Allied Health Care Services founder Charles K. Schwartz was sentenced to 16 years in prison for defrauding more than 50 financial institutions in a $135 million medical equipment leasing scheme. read more

C&J Leasing Owner Sentenced in Fraud Against Frontier Leasing

Clarence Allen Rice, owner of C&J Leasing, was sentenced to 70 months in prison for wire fraud in connection with a complex $8 million scheme against Frontier Leasing, according to documents from the U.S. District Court in the Southern District of Iowa. read more

Sentencing Delayed Until May for Five EFI Participants

The sentencing of five participants in the Equipment Finance loan fraud has been delayed until May 2012 at the request of a newly assigned assistant U.S. attorney in the case, according to recently filed court documents. read more

Le-Nature's CEO Appeals Sentence; Attorney Seeks to Withdraw

The Pittsburgh Post-Gazette reported that former Le-Nature's CEO Gregory J. Podlucky has appealed his 20-year sentence for mail fraud, tax evasion and money laundering, and his attorney petitioned the court to withdraw from the case. read more

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