Disgraced billionaire industrialist Ira Rennert, found liable earlier this year for looting his failed magnesium company to the tune of $117 million, was back in Manhattan federal court on Monday to defend allegations he perpetrated a $70 million fraud related to the pension fund of a second family-controlled company.
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Secret Service agent gets 71 months in prison for stealing from Silk Road dealers
Secret Service agent Shaun Bridges has been sentenced to 71 months in prison, after pleading guilty to charges of money laundering and obstruction of justice earlier this year,as first reported by Ars Technica. Bridges was part of the team investigating the Silk Road, ultimately resulting in the conviction of Silk Road mastermind Ross Ulbricht. But as Bridges was working to investigate the marketplace, he was also stealing from many of the site’s customers, using administrator credentials pilfered from a confidential informant. Through a string of such thefts, Bridges was able to amass as much as 20,000 bitcoin. Bridges also paid $500,000 in restitution as part of his sentence.
Santa Fe man indicted on federal tax fraud charges
A Santa Fe man has been arraigned on an 11-count indictment alleging nearly $300,000 in federal income tax fraud charges, the IRS and the New Mexico U.S. Attorney’s Office announced late last week.
U.S. Attorney Damon P. Martinez and Ismael Nevarez Jr., special agent in charge of the Phoenix Field Office of the IRS Criminal Investigation Division, said in a news release Friday that Darryl J. Gutierrez, 60, was arrested Wednesday on an indictment filed on Nov. 5. Gutierrez made his initial appearance in federal court in Albuquerque on Thursday and pleaded not guilty, the news release said.
Law Offices of Howard G. Smith Investigates Alleged Securities Fraud by Foresight Energy, LP
BENSALEM, Pa.–(BUSINESS WIRE)–Law Offices of Howard G. Smith announces an investigation on behalf of investors of Foresight Energy, LP (“Foresight Energy” or the “Company”) (NYSE: FELP) concerning the Company’s and its officers’ possible violations of federal securities laws. The investigation focuses on the Company’s allegedly misleading statements leading up to the October 29, 2015, Foresight Energy disclosure that its Senior Vice President and Chief Financial Officer, Oscar Martinez, would be stepping down on November 13, 2015. The Company also reported less-than-expected Q3 2015 financial results, failing to meet revenue estimates by nearly $20 million. Upon this news, Foresight Energy shares dropped 25% to a close of $5.16 per share.
Union County, New Jersey, Man Admits Role In $6 Million Mortgage Fraud Scheme
NEWARK N.J. – An Elizabeth, New Jersey, man today admitted recruiting straw buyers and submitting bogus loan applications as part of large-scale mortgage fraud scheme involving properties in northern New Jersey, U.S. Attorney Paul J. Fishman announced.
Miguel LaRosa, 48, pleaded guilty before U.S. District Judge Susan D. Wigenton in Newark federal court of an information charging him with one count of conspiracy to commit wire fraud.
According to documents filed in this case and statements made in court:
LaRosa admitted that, from March 2011 through November 2012, he conspired with others to fraudulently obtain mortgages using falsified loan applications, supporting documents and closing documents. In addition to recruiting straw buyers to purchase properties, LaRosa and others created misleading certifications that bank accounts contained a specific amount of money when they actually contained less, prepared false appraisal reports, back-dated deeds and used unlicensed title agents to close transactions and disburse the mortgage proceeds.
Troy priest sentenced to 27 months in fraud
Detroit — A priest who pleaded guilty to mail fraud in connection with stealing $573,000 from St. Thomas More Parish in Troy was sentenced Tuesday to 27 months in prison.
The sentence for Rev. Ed Belczak, handed down by U.S. District Judge Arthur J. Tarnow, was below sentencing guidelines and federal prosecutors’ request.
Before the sentencing, Belczak, 70, said he accepted full responsibility for his actions at St. Thomas More Parish where he was pastor for nearly 30 years.
Two sentenced in massive $200M credit card fraud case
A federal judge sentenced two Staten Island men Tuesday in what authorities said was one of the largest credit card fraud schemes ever prosecuted by the federal government.
U.S. District Judge Anne E. Thompson sentenced Khawaja Ikram, 43, and Mohammad Khan, 51, to 24 and 12 months in prison, respectively, according to the U.S. Attorney’s Office in Trenton.
Ikram previously pleaded guilty to an information charging him with one count of conspiracy to commit bank fraud and Khan had pleaded guilty to an information charging him with conspiracy to defraud the United States.
Former N.Y. Assembly Speaker Sheldon Silver Found Guilty in Corruption Trial
Sheldon Silver, for decades one of the most powerful politicians in New York state, was convicted Monday of honest-services fraud, extortion and money laundering in a trial that is likely to reshape the business of Albany and embolden prosecutors with an appetite for public-corruption cases aimed at the Capitol.
The Democratic speaker of the New York state Assembly for more than 20 years, Mr. Silver was found guilty by a 12-person federal jury in Manhattan of four counts of honest-services fraud, two counts of extortion, and one count of money laundering.
His conviction triggers his automatic expulsion from the Legislature, to which he was first elected in 1976.
American River College instructor quits after pleading guilty to fraud against tribe
American River College business instructor Gregory Scott Baker resigned last week after pleading guilty Nov. 5 to conspiring to commit mail and wire fraud, conspiring to commit money laundering and filing a false tax return.
The college accepted his resignation, which will be effective Dec. 18, said Ryan Cox, associate vice chancellor of human resources for the Los Rios Community College District.
Despite being under a federal indictment for fraud, Baker continued to teach classes at American River College until his plea agreement earlier this month, when he was put on paid administrative leave. Although Baker was initially removed from the classroom in 2012, he was allowed to return in 2013 with a reduced course load that eventually returned to full time, Cox said.
2015 Reflections
The unexamined life is not worth living. A thought stated by Socrates during his trial for corrupting the youth, in which he received a death sentence. For years I have taken this statement to heart, not just as a personal reflection, but also as a professional one. For some strange reason I perform this yearly ritualistic task on Thanksgiving Day. I guess the rationale behind that is Thanksgiving is a day to give thanks to God for the blessings one has received. Although it is nice to reflect on the good things, I find I gain more knowledge from understanding the reasoning behind why I failed at a certain task. No matter if you win or if you lose, you must grow from each experience.
Besides growing from your experiences, there are important questions one must ask oneself in order to gain an understanding of one’s value. That value is not measured by the size of your bank account, but the size of your heart. It’s not what you earned, but what you gave away. What have I done for the world and would what I do be missed if it was no longer offered? How many others offer the same service as you, or is my service unique? Lastly, you must ask yourself, why you do what you do. Is it to receive the praise of men? Then what you’ve earned here in the world is your only reward. Or, is it for the Glory of God, which means that your reward will come at a later time.
In reflecting on what we (John and Bruce) were able to accomplish with our non-profit, the Institute for Complexity Management (ICM), I was very pleased with the answers to the probing questions asked above. The Institute for Complexity Management is a 501 (c) (3) charity. ICM sponsors two programs under their banner. Those programs are The National School Safety Collaboratory (NSSC) (http://nationalschoolsafetycollaboratory.org/) and the John Galt Program for Investigative Studies (JGPIS) (https://jgpis.org/).
The mission of the National School Safety Collaboratory is “to provide a safe and conducive learning environment for our children.” Our service is to provided risk management software and information to prevent copycat crimes at schools and/or universities. We provide quality whitepapers as well as surveys so that we can understand the trends that are happening in our country. We try to provide all these services free of charge. The only way we can accomplish what we are trying to do is by the generosity of those who find value in the service we provide.
The mission at the John Galt Program for Investigative Studies is to help small business protect themselves against encroachment into their intellectual property. We provide pro-bono work to help small business create investigative reports concerning how the entity infringed on that company’s intellectual property. Again, we survive on the donations of others that allow us to perform this service.
Although businessmen would consider our ability to raise revenue a failure, I believe it was a success. We have raised $6,895 as of the writing of this story. But, last year we only raised $220. So it was a 97% increase in our revenue. That money was not used to pay any salaries, but to help protect our children at school and to help others fight the good fight. We did spend $1,000 on a consultant who performed far more than the money we could pay her. And we spent $1,000 on travel. The travel was to help prepare one of the companies we are helping at the John Galt Program for Investigative Studies to fight the government that stole that company’s intellectual property. We are very pleased with how that case is progressing in the courts.
Besides the case mentioned above, we wrote constructive notices for two other companies, The Wesleyan Company and FoodQuestTQ. We had to send out all correspondences in those two cases via certified mail. Additionally, we posted and boosted numerous articles (both on school safety and on government encroachment) on social media that cost us $1,415.65. So as of the writing of this article we have a total $813.59 left in our bank account.
The things we have accomplished, I believe, could not have been done by anyone else. Who else do you know would perform 5000 hours of quality legal work and receive $0 compensation? And, if we didn’t help others to fight against an over reaching government, then who would? We sponsored two surveys in the National School Safety Collaboratory and one in JGPIS. All research is performed by a staff of two, with outside help at times. All social media and web portals are also managed by the same staff of two. Although it would be nice to eventually pay our staff, no staff member has been paid since the inception of ICM 10 years ago. All work is done out of the generosity of their hearts. Their reward will definitely be in heaven.
So after reviewing the facts of what we have done at ICM, I must say it has not been for the money. That I hope is apparent. But, what we have done is enriched the souls of others. It allowed others to see that they are not alone in their fight against an over reaching government. In the military, we would say we got your six. And, if we saved one child’s life by the information we have shared at NSSC, it has been worth the many hours spent finding and sharing information. With all that was stated, I consider the last year a total and complete success.
Yes, others may look at our bank account and say we have failed. It is unfortunate for them not to be able to see the deposits we have made into the hearts and minds of those who have benefitted from our services. As for John and I, we consider ourselves the richest men in the world. For when we saw a brother or sister in need, we helped. What is more valuable than that?