British billionaire Joe Lewis, whose family owns the Tottenham Hotspur soccer team, dodged prison time in Manhattan on Thursday for a yearslong insider trading scheme the feds described as“ brazen.”. The 87- year-old Tavistock Group founder was sentenced to three years "probation and agreed to pay a $5 million fine for sharing tips with friends, romantic…
Insurance & Financial Fraud
—Days after former President Donald Trump posted a $175 million bond to block New York state from imminently collecting on a huge civil fraud judgment, state lawyers Thursday called for more information on the bond’ s bona fides. State Attorney General Letitia James' office filed papers giving Trump's lawyers or the bond underwriter 10 days to“ justify” the bond—…
Two Miami- area brothers pleaded guilty Wednesday to securities fraud stemming from insider trading on millions of dollars’ worth of stock in a local company that merged with former President Donald Trump’ s media firm to create a publicly traded social media platform. Michael Shvartsman, 52, of Sunny Isles Beach and Gerald Shvartsman, 46, of Aventura, who were…
In Cumberland County, Pennsylvania, three individuals, Kwa'rai Samuel, Lori Fish, and Kevin Hartung, along with two fictitious auto body repair shops named LKR Auto Body and Hopper's Foreign Auto Body and Parts, are charged with defrauding insurance companies of over $300,000. The fraudulent operation involved obtaining 28 automobile insurance policies…
—Two managers of a Saudi oil exploration company went on trial in Switzerland on Tuesday for alleged fraud and money laundering over a scandal years ago linked to a Malaysian sovereign wealth fund that the U.S. Justice Department once described as the“ biggest kleptocracy case” ever. Malaysian investigators allege that over $4.5 billion was stolen from the…
–Former President Trump posted a $175 million bond in his New York civil fraud case Monday evening, staving off the possible seizure of his assets while appealing a state judge's ruling against him over deceitful business practices. The bond, from the Knight Specialty Insurance Company, automatically bars New York Attorney General Letitia James from…
