August 20, 2003 |
Two executives of a Bensalem company that sold "Eyewear for a New Economy" were indicted by a federal grand jury last week, charged with defrauding the former First Union National Bank of $14 million and filing false reports with the Securities and Exchange Commission. Barry M. Budilov, a Lafayette Hill businessman and former chief executive officer of the former Ambassador Eyewear Group Inc., faces one count of bank fraud, six counts of false statements to a bank, two counts of false filings with the SEC, and one count of falsifying company records.
January 4, 2001 |
A Mount Airy barber pleaded guilty yesterday in Montgomery County Court to participating in a sophisticated bank-fraud scheme that bilked millions from customers' accounts. Antoine Norman, 26, who prosecutors have said was the mastermind of the scam, entered an open guilty plea to a charge of conspiracy to corrupt organizations. According to Assistant District Attorney Laurel Grass, who heads the county's Economic Crimes Unit, Norman admitted that he was the "chief officer in this illegitimate company, and counterfeited checks, handed them out to runners, and received the profits.
September 6, 1997 |
The former chairman and chief executive of Action Federal Savings Bank in Somers Point, N.J., pleaded guilty to bank fraud yesterday, seven years after the troubled savings and loan was seized by federal regulators. Robert J. DiDomenico, of Springfield, Delaware County, and Ocean City, N.J., faces up to 20 years in prison and a fine of up to $1 million for failing to disclose a secret deal to use $4.2 million in bank loans, made to a friend, to buy property for himself. DiDomenico, 53, was a well-known Jersey Shore developer and had been on Action's board for two years when he was named its full-time chief executive in 1990.
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.
October 30, 1992 |
Former Atlantic City high roller Robert Libutti, banned from the casinos because he used racial slurs and bragged of his ties to mobster John Gotti, was indicted yesterday on bank fraud and income-tax evasion charges. The indictment, announced by U.S. Attorney Michael Chertoff, alleges that Libutti, 62, collected $3.4 million in improperly authorized loans from a North Jersey bank between 1985 and 1987. He was also charged with evading $3 million in income tax and with weapons offenses.
October 20, 2012 |
A prominent Main Line developer was charged yesterday by the federal government in a fraud scheme in which he allegedly induced several local banks to lend him more than $13.3 million. Michael Pouls, 50, devised a scheme in May 2007 to obtain bank loans from National Penn Bank and the former Wilmington Trust Bank, federal prosecutors said. They said he faked statements showing he had $28.5 million in TD Ameritrade accounts to use as collateral for the loans while in reality he had $3,000.
December 2, 1992 |
A Chicago developer and a West Chester demolition contractor pleaded guilty yesterday to burying thousands of bags of cancer-causing asbestos debris on the grounds of a failed Marcus Hook business park. The pleas by Dennis Marchuk and Michael Kelly came just minutes before the opening of their trial before U.S. District Judge Ronald L. Buckwalter. Marchuk entered a plea to violating three federal environmental-quality laws. He was followed a short time later by Kelly, who pleaded guilty to one count of violating the federal Clean Air Act. Buckwalter set March 5 for the sentencing of both men. Marchuk faces a maximum sentence of 16 years in prison and a $1 million fine.
April 23, 2005 |
Steven A. Schwartz, a self-styled investment adviser with two convictions for bank fraud and check kiting, was convicted a third time yesterday - for bilking investors of an estimated $1 million. Schwartz, 48, of Plymouth Meeting, who represented himself in a three-week trial in U.S. District Court, was convicted by a jury of conspiracy and 16 counts of wire fraud, mail fraud and bank fraud. The jury acquitted him on two other charges. Schwartz was led from the courtroom in handcuffs, ordered by Judge Stewart Dalzell to be held until he is sentenced.
May 14, 2009 |
The former leader of an identity-theft ring out on supervised release after almost three years in jail was back in federal court yesterday, charged with using stolen credit-card information to buy airline tickets to the Caribbean and a car for a friend and to pay for plumbing repairs at her West Philadelphia home. Nefertiti Randall, 28, was arrested by U.S. postal inspectors in 2002 and accused of leading a group that racked up almost $250,000 in fraudulent credit-card charges.
December 20, 1990 |
A Boston man whom federal authorities had indicted on bank-fraud charges was accused last week by Haverford police of stealing an $80 portable telephone. Police arrested Stephen D. Wright, 37, on retail-theft charges after security personnel stopped him at the Clover Department store on West Chester Pike. The security personnel accused Wright of leaving with an AT&T cordless phone in his coat without paying. Police later learned that the U.S. Attorney's Office in Boston wanted Wright on charges of bank fraud and conspiracy to commit bank fraud.