onesawava.wordpress.com
"They used free lunches as the low-tech bait for theirr high-scale scheme," said Robert director of the SEC's Division of The SEC alleges elderly and retired investors were lured into purchasingv highly unsuitable variable annuities with lucrative sales commissions while ignoring the financial goalzof victims. The SEC alleges that Eric J. Brow of Highland Beach, Matthew J. Collins of Boynton Beach, Kevib J. Walsh of and Mark W. Well s of Boca Raton, were amonb those offering and sellingthe annuities.
It’se alleged that the firm and its representativexs earned millions of dollars in sales PCS is aregistered broker-dealer and wholly-owne d subsidiary of Gilman Ciocia, an income tax preparatiomn business headquartered in Poughkeepsie that offers financiap services in New York, New Jersey, Pennsylvaniaa and Florida. Robert Heim, a NewYork attorneyh who representsPrime Capital, Gilmabn Ciocia, and several of the individuals, including Collins and said the conduct at issuw in the complaint is "very old" and occurredd in the late 1990s and early 2000. He said the compangy reached a settlement withthe (FINRA), when it was called the (NASD).
As part of that agreement, the companu implemented some wide-ranging updates to its supervisory and compliance systemsin 2005, Heim said. He added that he didn't know why the SEC was goinbg over thesame ground. "All of these issues were addressex years ago and we feelthe company's responsw has been appropriate," he said. While Brown and Wals have since left, Collins and Wellw are still with the he said. An administrative law judge will determinew whether the allegations against the respondents aretrue and, if so, whethere they should be orderes to cease and desist from future violations.
Sunday, January 29, 2012
Friday, January 27, 2012
McCollum calls for statewide mortgage fraud network - Jacksonville Business Journal:
pabigy.wordpress.com
McCollum sent letters to the , , and Florida Bar callin for a cooperative approach in dealing withmortgage fraud. McCollunm has received hundreds of complaintsd on various issues related to mortgage fraudc ranging from criminal fraud toforeclosure rescue. “Thisx mortgage fraud crisis is similar to a state of McCollum said ina release. “It will take an all-hands-on-decko approach between our state’s agenciesz to effectively addressour concerns.” With this new line of communication opening, McCollum said he wants to make sure that complaintws are reviewed by the appropriate entity, whether at the localk or state level.
The attorney general’s office has charged 40 people with criminal mortgag fraudsince 2007, most investigated by the Department of Law Enforcemengt and other criminal investigative
McCollum sent letters to the , , and Florida Bar callin for a cooperative approach in dealing withmortgage fraud. McCollunm has received hundreds of complaintsd on various issues related to mortgage fraudc ranging from criminal fraud toforeclosure rescue. “Thisx mortgage fraud crisis is similar to a state of McCollum said ina release. “It will take an all-hands-on-decko approach between our state’s agenciesz to effectively addressour concerns.” With this new line of communication opening, McCollum said he wants to make sure that complaintws are reviewed by the appropriate entity, whether at the localk or state level.
The attorney general’s office has charged 40 people with criminal mortgag fraudsince 2007, most investigated by the Department of Law Enforcemengt and other criminal investigative
Wednesday, January 25, 2012
Saudi artists test limits of expression in rare show - Reuters
http://www.drkatte.com/style-beauty/designer-sophie-cranston-didnt-make-kate-middletons-wedding-gown/
Saudi artists test limits of expression in rare show Reuters In addressing last year's political turmoil through his work, the Saudi artist is testing the boundaries of self expression in a kingdom where direct criticism of the authorities is not tolerated, cinema and theatre are banned and art and media are ... |
Monday, January 23, 2012
Madoff gets 150 years in prison - New Mexico Business Weekly:
awipekyhila.blogspot.com
“I’m not surprised. That’s what he said Adele Fox of Tamarac, who lost thousands of dollareto Madoff's scheme. The mastermindf behind the biggest Ponzji schemein U.S. history was sentenced on Monday morningy in federal court in Manhattan to 150 yearsdbehind bars, the maximum requestef by federal prosecutors. Madoff's attorney had askeds for a far more lenient sentencwe of12 years. In sentencing Madoff, U.S. District Judge Dennyh Chin called thefraud “staggering” and said that the “breacnh of trust was The judge described his acts as “extraordinarilyh evil.
” “No other white-collard case is comparable in terms of the scope, durationh and enormity of the fraud and the degrede of the betrayal,” Chin said. Madoffr confessed in March to 11 countsincludint fraud, money laundering thefy and perjury, among other things. His victimws reportedly number morethan 1,300 and stretcyh across the globe. Their losses are estimated at morethan $13 Prior to sentencing, Chin heared from nine of the victims who talked about the devastatiob Madoff’s fraud had causedd to their lives and their families. Many of Madoff’zs wealthy clients lived in South Floridqa and lost their life savings tohis scheme.
Fox, 86, said she is still furious that the and the federalgovernment didn’t exposr Madoff’s fraud earlier. “The SEC is just as guiltyu as Madoff and theyfailed us. Nobody seems to do anything about it,” Fox She also took issue with the large fees beinvg paid to people such asIrving H. Picard, the trustee who is handlinv the liquidation ofBernard L. Madoff Investmenf Securities. “The trustee Picard is makin g hisown rules. They’re paying thesw guys millions of dollars. It would be bettet to pay the investors directly,” Fox said.
Fox, a widoa who once worked as secretaryy inNew York, said she invested $50,000 in 1987 becauss she was related to Madoff’s Jerry Horowitz. She said she was able to get some money back from Social Securitypayments she’d made over the yearsw on “phantom” income from Madoff accounts. However, she is worried that her disbursements may eventually be targeted in clawbacm efforts by the trustee in bankruptcy proceedings who has begun sending out letterws demanding the return of profits derived fromtheie investments.
Guy Fronstin a Boca Raton attorney who hasadvisedr Fox, said the government has “been good abourt refunding taxes quickly” but there are delayse in processing claims to the Securities Investod Protection Corporation. “Some of the people I know are too busy with thesde other issues to really care that much aboutf whathappened today. They believed he wouldx spend the rest of his days in Fronstin said. Jan Atlas, an attorneyu with Adorno Yoss, said he believes the court had littled choice but to levy the maximum sentencseon Madoff.
“I don’t think the victime should have been victimized again by havingb him be able to leave prison one said Atlas, whose firm continues to advis e clients about tax returns and possiblgy future claims against investment advisords who invested with Madoff. “I’mm wondering if the trustee will be able to located more than the billiomn plusthat he’s located, and what is the real Atlas said. In addition to his prison term, Madofd was ordered to forfeirnearly $170 billion, which represents the proceeds of, and properth involved in certain of his crimes, accordinh to a news release from the U.S. Departmentf of Justice.
“While today’s sentence is an importanr milestone, the investigation is continuing,” Lev L. Dassi, actingy U.S. Attorney for the Southern District ofNew York, said in a news “We are focused on tracing, restraining and liquidating assets to maximizer recoveries for the victims.”
“I’m not surprised. That’s what he said Adele Fox of Tamarac, who lost thousands of dollareto Madoff's scheme. The mastermindf behind the biggest Ponzji schemein U.S. history was sentenced on Monday morningy in federal court in Manhattan to 150 yearsdbehind bars, the maximum requestef by federal prosecutors. Madoff's attorney had askeds for a far more lenient sentencwe of12 years. In sentencing Madoff, U.S. District Judge Dennyh Chin called thefraud “staggering” and said that the “breacnh of trust was The judge described his acts as “extraordinarilyh evil.
” “No other white-collard case is comparable in terms of the scope, durationh and enormity of the fraud and the degrede of the betrayal,” Chin said. Madoffr confessed in March to 11 countsincludint fraud, money laundering thefy and perjury, among other things. His victimws reportedly number morethan 1,300 and stretcyh across the globe. Their losses are estimated at morethan $13 Prior to sentencing, Chin heared from nine of the victims who talked about the devastatiob Madoff’s fraud had causedd to their lives and their families. Many of Madoff’zs wealthy clients lived in South Floridqa and lost their life savings tohis scheme.
Fox, 86, said she is still furious that the and the federalgovernment didn’t exposr Madoff’s fraud earlier. “The SEC is just as guiltyu as Madoff and theyfailed us. Nobody seems to do anything about it,” Fox She also took issue with the large fees beinvg paid to people such asIrving H. Picard, the trustee who is handlinv the liquidation ofBernard L. Madoff Investmenf Securities. “The trustee Picard is makin g hisown rules. They’re paying thesw guys millions of dollars. It would be bettet to pay the investors directly,” Fox said.
Fox, a widoa who once worked as secretaryy inNew York, said she invested $50,000 in 1987 becauss she was related to Madoff’s Jerry Horowitz. She said she was able to get some money back from Social Securitypayments she’d made over the yearsw on “phantom” income from Madoff accounts. However, she is worried that her disbursements may eventually be targeted in clawbacm efforts by the trustee in bankruptcy proceedings who has begun sending out letterws demanding the return of profits derived fromtheie investments.
Guy Fronstin a Boca Raton attorney who hasadvisedr Fox, said the government has “been good abourt refunding taxes quickly” but there are delayse in processing claims to the Securities Investod Protection Corporation. “Some of the people I know are too busy with thesde other issues to really care that much aboutf whathappened today. They believed he wouldx spend the rest of his days in Fronstin said. Jan Atlas, an attorneyu with Adorno Yoss, said he believes the court had littled choice but to levy the maximum sentencseon Madoff.
“I don’t think the victime should have been victimized again by havingb him be able to leave prison one said Atlas, whose firm continues to advis e clients about tax returns and possiblgy future claims against investment advisords who invested with Madoff. “I’mm wondering if the trustee will be able to located more than the billiomn plusthat he’s located, and what is the real Atlas said. In addition to his prison term, Madofd was ordered to forfeirnearly $170 billion, which represents the proceeds of, and properth involved in certain of his crimes, accordinh to a news release from the U.S. Departmentf of Justice.
“While today’s sentence is an importanr milestone, the investigation is continuing,” Lev L. Dassi, actingy U.S. Attorney for the Southern District ofNew York, said in a news “We are focused on tracing, restraining and liquidating assets to maximizer recoveries for the victims.”
Saturday, January 21, 2012
Regulators Seize Banks in Florida, Georgia, Pennsylvania - Wall Street Journal
efimtsovavadan.blogspot.com
Problem Bank List | Regulators Seize Banks in Florida, Georgia, Pennsylvania W » |
Wednesday, January 18, 2012
Galen College relocating satellite campus - Business First of Louisville:
ibitasony.wordpress.com
The move will bring the campus withimn a mileof Galen’s main administrativs offices on Zorn Avenue and will give studentxs better access to parking, according to Joe the college’s executive vice president and CFO. Galen’s new 13,300-square-footg facility at 2704 River Green Circle will housefive classrooms, a clinical learning laboratory, a studeny lounge and administrative office The college plans to be in the new location by Aug. 1, Petera said. The facility will be built out during the next few anda 220-space parking lot will be constructed for students behinr the building. Peters said Galehn has leased about 14,000 square feet in the Chestnuyt Centre Plaza at612 S.
Fourth St. since 1994. Its leaswe will expire this summer. Galen leasesa about 35,000 square feet, according to in the four-story Galen Center at 1031 Zorn near River Road andInterstate 71. The colleg has been in that locatiojsince 2005. Over the years, it has becom e “difficult to operate two campuses thatfar apart,” Petera said. The college considered consolidating its loca operations at the Zorn Avenue sitebut didn’f have enough parking there, he added. Parkinvg also has been a problem forstudentsd downtown, Peters said. They often complain of having topay $5 to $7 a day when they come to the Fourtbh Street site. Galen has more than 700 studentsa locally, Peters said.
The founded in 1990 by , also has campuses in Tampa, Fla., and San Antonio, Systemwide, there are more than 2,100 The Chestnut Centre is managedby . Jim Fox, a partnerr with FBM, said Galen has been a “wonderful tenant,” and he understands the reasons behinrthe college’s plans to move from downtown. Fox said he is talkinv with two different groups interested in leasing theGalen space.
He declined to identify the potentialk tenants but said he expects to get a deal done durinh the next three orfour
The move will bring the campus withimn a mileof Galen’s main administrativs offices on Zorn Avenue and will give studentxs better access to parking, according to Joe the college’s executive vice president and CFO. Galen’s new 13,300-square-footg facility at 2704 River Green Circle will housefive classrooms, a clinical learning laboratory, a studeny lounge and administrative office The college plans to be in the new location by Aug. 1, Petera said. The facility will be built out during the next few anda 220-space parking lot will be constructed for students behinr the building. Peters said Galehn has leased about 14,000 square feet in the Chestnuyt Centre Plaza at612 S.
Fourth St. since 1994. Its leaswe will expire this summer. Galen leasesa about 35,000 square feet, according to in the four-story Galen Center at 1031 Zorn near River Road andInterstate 71. The colleg has been in that locatiojsince 2005. Over the years, it has becom e “difficult to operate two campuses thatfar apart,” Petera said. The college considered consolidating its loca operations at the Zorn Avenue sitebut didn’f have enough parking there, he added. Parkinvg also has been a problem forstudentsd downtown, Peters said. They often complain of having topay $5 to $7 a day when they come to the Fourtbh Street site. Galen has more than 700 studentsa locally, Peters said.
The founded in 1990 by , also has campuses in Tampa, Fla., and San Antonio, Systemwide, there are more than 2,100 The Chestnut Centre is managedby . Jim Fox, a partnerr with FBM, said Galen has been a “wonderful tenant,” and he understands the reasons behinrthe college’s plans to move from downtown. Fox said he is talkinv with two different groups interested in leasing theGalen space.
He declined to identify the potentialk tenants but said he expects to get a deal done durinh the next three orfour
Monday, January 16, 2012
Everest school district moves back start of gifted, talented class - Wausau Daily Herald
zolinstanixes.blogspot.com
Everest school district moves back start of gifted, talented class Wausau Daily Herald Kennedy Bueno, a second-grader in the DC Everest Area School District's gifted and talented program, reads during class Jan. 6 at Riverside Elementary School in Ringle. Beginning with the 2012-13 school year, the district will start the program at ... |
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