Federal prosecutors in New York obtained two more guilty pleas stemming from an investigation into supposed “expert network” firms, a hallmark of New York securities fraud in which connect investors to industry experts for a fee. Samir Barai, a former hedge fund manager, and Sonny Nguyen, a former financial analyst…
On May 24, 2011, several attorneys from now-defunct law firm Jenkins & Gilchrist and a former executive of BDO Seidman, LLP were convicted in the United States District Court for the Southern District of New York for their roles in developing, promoting, marketing and implementing fraudulent tax shelters, and drawing…
On Wednesday May 25, 2011, the SEC approved new rules to flesh out a provision of the Dodd-Frank Act which provides for large cash rewards for employees who report suspected securities fraud through internal compliance programs or directly to the SEC. Under the new law, employees who report securities fraud…
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