September 13, 2014 |
M&T Bank , which took over Wilmington Trust Corp. as Delaware's largest bank was on the edge of financial collapse three years ago, agreed Thursday to pay $18.5 million to the Securities and Exchange Commission to settle charges against Wilmington Trust. Accounting disclosure and fraud charges faced the bank because of "improperly" excluded loan losses of $300 million from its quarterly reports after the 2008 financial crisis, the SEC said. The deal follows a string of federal bank fraud prosecutions in Wilmington and Philadelphia against former Wilmington Trust officers and private developer clients.
September 12, 2014
In 2014, you know you've made it when Charlie Sheen tweets about you. Temporary Tattle therefore gives you: Shady McTipper, part deux. As Daily News gossip columnist Molly Eichel reported, lo, those many days ago - Tuesday - it seems that Eagles running back LeSean McCoy took buddies out for burgers at Northern Liberties' PYT Monday afternoon. They racked up a $61.56 bill, and McCoy himself apparently left server Rob Knelly a very lousy tip. Twenty cents lousy.
July 10, 2014 |
Real convict of Atlanta It'll be some time before we'll see The Real Housewives of Atlanta star Phaedra Parks on her husband's arm. Apollo Nida , 35, was sentenced Tuesday to 96 months (eight years) in federal prison after pleading guilty to bank fraud and ID theft, the Atlanta Journal Constitution reports. Nida ripped off more than 50 people to the tune of $2 mil. Nida could have been given anywhere from 92 to 115 months. U.S. District Court Judge Charles A. Pannell said he handed down a fairly stiff sentence because white-collar crimes of this type see a high rate of recidivism.
March 9, 2014 |
Michael Pouls, a Main Line developer whose name had for many become synonymous with the borrow-and-spend excesses of the early 2000s, saw his wave of prosperity come crashing down Friday as a federal judge sentenced him to eight years in prison for bank fraud. U.S. District Judge Paul S. Diamond cut down arguments that Pouls' prosecution was motivated by postrecession "class hatred" and instead referred to the 52-year-old as a "liar and a thief" caught by the economic downturn. "He's not being punished for his success," the judge said.
May 24, 2013
A Camden man pleaded guilty Thursday to a scheme involving cashing checks stolen from curbside mail boxes in business industrial parks in Camden, Gloucester, and Burlington counties. Appearing before U.S. District Judge Jerome B. Simandle in federal court in Camden, Michael A. Ingalls, 35, of Camden, admitted to one count of conspiracy to commit bank fraud and one count of possessing stolen mail. Ingalls and Ibn Muhammad, 35, of Camden, a co-conspirator, would recruit helpers to cash the checks.
March 21, 2013 |
HERE'S A LOOK at some dumb criminals who have implicated themselves online: -An Indiana man, arrested on assault charges after a 2009 bar fight in New York, fled before his sentencing. But Chris Crego left plenty of cyber clues for cops to catch him: He posted his wanted poster on his Facebook page, along with his current hometown, employer and work hours. U.S. Marshals easily tracked him down, and police posted this thank-you note to Crego's Facebook page: "It was due to your diligence in keeping us informed that now you are under arrest.
March 15, 2013 |
The ringleader of a large fraud and identity theft ring, described by his victims as a "financial terrorist," was sentenced today in federal court to 12 years in prison. Lawrence Fudge, 47, of West Oak Lane, defrauded dozens of victims as he amassed more than $360,000 in cash and goods. According to prosecutors, Fudge employed a network of bank employees, check runners, and an insurance company employee. He used illegal drugs to entice some of the conspirators. In at least one case, he flashed a gun in ensure participation, according to prosecutors.
February 21, 2013 |
Who killed the banks? And why aren't they in prison? It's past three years since Wachovia, National City , and other giant lenders that made too many dumb loans to borrowers who couldn't pay were forced into oblivion in government-aided discount sales to new owners, destroying share values and hometown jobs. Last time banks failed on a big scale - back when George H.W. Bush was president - scores of bad-bank operators and lying business borrowers went to prison. That hasn't happened much under President Obama , whose administration prefers fines and wrist-slapping.
February 16, 2013 |
The family of the man who opened fire in a crowded Wilmington courthouse Monday killing two women and wounding two Capitol police officers says it "apologizes to the people of Delaware. " Members of the Matusiewicz family released a statement this morning, saying they too were "stunned" at the events. Thomas Matusiewicz, 68, took his own life after he shot his ex-daughter-in-law Christine Belford and her friend Laura "Beth" Mulford. Belford was in court for a child-support hearing.
February 8, 2013 |
The founder of several hedge funds, already serving 10 years in a German prison for defrauding investors of nearly $500 million, is now facing similar charges in Philadelphia. Helmut Kiener, 53, controlled a number of hedgefunds including K1 Global Limited, Oceanus, Mezzanine and K1 Invest. According to federal prosecutors, Kiener misappropriated $311 million in an elaborate Ponzi scheme that he used to pay for a luxurious lifestyle. Among Kiener's alleged victims: Bear Stearns which lost $82 million to Kiener for three years until the financial institution went belly up in 2008; Barclays Bank which lost $137 million and BNP Paribas which lost $13.4 million.