Legal / Fraud

November Sentencing Scheduled for EFI Fraud Defendant Tomberlin

According to court documents, sentencing of John S. Tomberlin, a defendant in the Equipment Finance Inc. loan fraud case, has been scheduled for November 22, 2011. Co-defendants Joseph M. Braas, Michael J. Schlager and Mary C. Stankiewicz will also be sentenced in November. read more

HL Leasing Officers Liable in Fraud; Victims Awarded $46MM

According to an article in The Fresno Bee, a jury found HL Leasing's president Dan Ramirez and CFO Andy Fernandez liable for their role in a leasing company Ponzi scheme. However, the 1,200 victims will likely only collect a fraction of the $46.5 million award. read more

QSGI Files Antitrust Suit Against IBM Global Financing

QSGI, a provider of information technology products and services, announced that it filed an antitrust suit against IBM Global Financing and parent IBM claiming that an IBM policy eliminated QSGI's ability to compete in the used mainframe market with IBM Global Financing. read more

EFI Fraud Prosecutor Requests Removal of Defense Attorney

According to the Intelligencer Journal/Lancaster New Era, federal prosecutor Nancy E. Potts is asking a federal judge to remove attorney Donald R. Jones Jr., counsel for defendant Harold W. Young in the Equipment Finance Inc. fraud case, due to conflict of interest. read more

EFI Loan Fraud Defendant Spann Pleads Guilty

John Wiley Spann, a defendant in the EFI fraud case, pleaded guilty in a change of plea hearing on July 25, 2011 to conspiracy, mail fraud affecting a financial institution and money laundering, according to documents filed in Philadelphia federal court. He will be sentenced on December 15. read more

Jury Selection Begins In Case of Former Le-Nature's President

Jury selection has begun in the fraud trial of former Le-Nature's president Robert B. Lynn, the only one of five defendants in the criminal case against the bankrupt beverage maker to maintain a plea of innocence. read more

Fifth EFI Fraud Defendant Tomberlin To Plead Guilty

John S. Tomberlin, a defendant in the EFI fraud case, will plead guilty on August 15, 2011, according to court documents. He was a partner in South Central Agency, a purported insurer of equipment that secured numerous EFI loans. read more

C&J Leasing Owner Guilty in $8MM Fraud Against Frontier Leasing

Clarence Allen Rice, owner of C&J Leasing, was found guilty of wire fraud in connection with an $8 million scheme against Frontier Leasing, according to U.S. Attorney Nicholas A. Klinefeldt. read more

U.S. Attorney Charges Former Central Leasing CFO With Fraud

Federal prosecutors charged a former equipment leasing company CFO with wire fraud in connection to a $1.2 million embezzlement scheme, according to U.S. Attorney Joyce White Vance. read more

Homeowners Try To Prevent BofA Leasing From Removing Ski Lifts

Tamarack Municipal Association homeowners are fighting to prevent Banc of America Leasing from removing two ski lifts from the Tamarack Resort after receiving the OK from a bankruptcy court judge to repossess the lifts that were leased to the resort. read more

CIT Group Sues to Halt Tyco's Bankruptcy Claim Assertion

CIT Group has asked a bankruptcy judge to block a tax-related claim asserted by Tyco International that relates to an agreement that was entered into when Tyco sold its stake in CIT through an IPO in 2002, Bloomberg reports. read more

Equipment Finance Loan Fraud Defendant Guilty Plea Scheduled

The Intelligencer Journal-Lancaster New Era reports that John Wiley Spann, a defendant in the Equipment Finance loan fraud case, is scheduled to plead guilty on July 25 in Philadelphia federal court. read more

Oil Field Equipment Lessor Files $1MM Breach of Contract Suit

According to documents filed recently in Harris County District Court in Houston, TX, Compass Directional Guidance is suing Oncourse for more than $1 million owed to Compass for leased oil field equipment. read more

Sentencing of Three Defendants in EFI Loan Fraud Case Postponed

According to recently filed documents in the U.S. District Court for the Eastern District of Pennsylvania, district judge Paul S. Diamond, Jr. again has granted a postponement of sentencing for three defendants in the Equipment Finance Inc. loan fraud case. read more

Le-Nature's Podlucky Pleads Guilty to Fraud

The Pittsburgh Post-Gazette reported that former chief operating officer, Jonathan E. Podlucky of failed bottler Le-Nature's, has pleaded guilty to fraud and has agreed to serve a five-year sentence. read more

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Terry Mulreany
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