Victims of George Theodore’s ponzi scheme to get money back
From Caribbean national Weekly Ponzi scheme victims face deadline to recover some losses Local victims of the George Theodule ponzi scheme can now get some relief, following the approval of a 5 million dollar fund. Court-ordered receiver Jonathan E. Perlman…
SEC accuses Biotech VC of siphoning funds
By Ross Todd, From The Recorder SAN FRANCISCO — Prominent biotech venture capitalist G. Steven Burrill has agreed to pay nearly $5.8 million to settle charges that he redirected money from one of his funds to prop up other flagging investments…
American Express Enters into Agreement to Sell Costco U.S. Cobrand Portfolio
February 29, 2016 08:30 AM Eastern Standard Time NEW YORK–(BUSINESS WIRE)–American Express (NYSE: AXP) today announced that it entered into an agreement to sell its Costco U.S. cobranded card portfolio to Citibank N.A. (Citi). The sale is expected to close…
Supply chain alert: The risk of human trafficking
By Eric N. Fidel From Corporate Counsel When the media talks about human trafficking, the first thing that comes to mind is the kidnapping and sale of women and children–of girls lured from their homes. But human trafficking is more…
Barclays and Credit Suisse are fined over US ‘dark pools’
From BBC Barclays and Credit Suisse have been fined a total of $154m (£108m) by US regulators for their US “dark pool” trading operations. “Dark pool” operations allow investors to trade large blocks of shares but keep the prices private….
Ex-Polycom CEO settles with SEC over lavish spending
By David Ruiz, The Recorder SAN FRANCISCO — The former chief executive officer of Polycom Inc. has agreed to pay $450,000 to settle charges that he illegally used company funds to pay for luxurious vacations and expensive personal items like clothes…
SEC slaps GC with lifetime ban for role in bank failure
By Sue Reisinger, from Corporate Counsel The federal government has permanently barred William Caughran, the general counsel for now-defunct Superior Bank and its holding company, Superior Bankcorp, from serving as an officer of a public company. And he must pay…
MINAT Associated to acquire Mecox Lane Ltd. (MCOX) for $4/ADS
From StreetInsider.com Top Tickers, 12/22/2015 Mecox Lane Limited (Nasdaq: MCOX) announced that it has entered into an Agreement and Plan of Merger (the “Merger Agreement”) with MINAT ASSOCIATED CO., LTD., a business company incorporated under the laws of the British…
U.K. Serious Fraud Office enters first deferred prosecution pact, with ICBC Standard Bank
By Sue Reisinger, From Corporate Counsel ICBC Standard Bank on Monday agreed to pay $36.9 million in a global settlement with the U.S. and U.K. governments over a bribe paid to secure business with the Tanzanian government. The settlement marked…
SEC can’t get insider-trading defendants’ phone passwords
By P.J. D’Annunzio, From The Legal Intelligencer The smartphone passwords of two former Capital One data analysts accused of insider trading will remain a secret to the U.S. Securities and Exchange Commission, a federal judge has ruled in a case…
