Bloomberg reported that three former executives at Olympus, including its former chairman, and four others were arrested for suspected violation of the Financial Instruments and Exchange Act. read more

FEB 16, 2012 - 8:30 am

In a recent newsletter, law firm Jones Day said aircraft lessors would be well advised in today's economic climate to remain attuned to litigation outcomes that may affect the traditional rules for aircraft financing. read more

FEB 10, 2012 - 8:35 am

German-based packaging machinery maker Krones AG said it is in mediation talks with a number of U.S.-based finance companies seeking compensation over the firm's alleged participation in a large-scale fraud by U.S.-based Le-Nature's. read more

FEB 2, 2012 - 8:35 am

Ahern Rentals announced that the U.S. Bankruptcy Court for the District of Nevada approved the final DIP financing with $66 million of availability, led by Bank of America, as administrative agent and decision agent, Wells Fargo, as collateral agent and decision agent and Merrill Lynch as lead arranger. read more

FEB 1, 2012 - 8:00 am

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

JAN 11, 2012 - 8:20 am

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

JAN 9, 2012 - 8:35 am

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

JAN 4, 2012 - 8:15 am

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

JAN 3, 2012 - 8:35 am

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

DEC 30, 2011 - 8:25 am

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

DEC 30, 2011 - 8:20 am

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

DEC 27, 2011 - 8:25 am

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

DEC 23, 2011 - 8:47 am

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

DEC 22, 2011 - 4:33 pm

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

DEC 19, 2011 - 8:35 am

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

NOV 30, 2011 - 8:35 am