January 1, 2016
By Steve Young Huzzah! The long, dark night that was 2015 is almost over. The past year produced as much delight as former Eagles coach Chip Kelly might get from finding out his new roommate is sports radio talker Angelo Cataldi. Yet despite the mass shootings, the bombings, and the possible banning of 5-year-old Muslims from entering the country, take heart and a deep breath. Before Muslim countries threaten to ban all Republicans, we can grow from 2015's difficulties. Adversity can be a stepping stone to something better.
July 5, 2014 |
Six months after they walked into the courthouse on a below-freezing January day, 12 jurors convicted reputed mobster Nicodemo Scarfo, associate Salvatore Pelullo, and two Texas mortgage company employees in a multimillion-dollar corporate scheme that will send the men to prison for decades. The trial involved thousands of exhibits, hundreds of FBI wiretapped conversations, and testimony over the course of months. The prosecution's aim was to prove that the men, along with three attorneys, looted First Plus Financial and defrauded shareholders of $12 million to benefit themselves and the Lucchese crime family.
October 12, 2013 |
BALTIMORE - With one condition, the Maryland Lottery and Gaming Control Commission on Thursday gave the parent company of Parx Casino in Bensalem a green light to continue its bid to build an $800 million casino south of Washington. The condition is that Greenwood Racing's chairman, Robert W. Green, end his friendship with the penny-stock swindler Robert E. Brennan, who served more than nine years in federal prison for bankruptcy fraud and obstruction of justice. Green and Brennan got to know each other in the late 1980s when Green formed a company to buy PhiladelphiaPark racetrack - now home to Parx - from Brennan's International Thoroughbred Breeders Inc. for $67 million.
September 21, 2013 |
If you think you have been scammed in a fraudulent investment, Ingrid Robinson has advice for you. Start building your case right away, and don't give up. The U.S. Attorney's Office in Philadelphia in May indicted Matthew McManus, of Glenside, and Andrew Bogdanoff, and his son, Aaron, on federal fraud charges connected with their Remington Financial Group loan brokerage. The Bogdanoffs have pleaded guilty. McManus has pleaded not guilty and is scheduled for trial Oct. 28. Robinson, 67, who resides in California, invested with Remington in 2007 and didn't realize the outfit was a fraud until she arranged for a loan.
July 22, 2013 |
One of the 160 or so victims in Everett Charles Ford Miller's $41.2 million Ponzi scheme was a retired Cherry Hill radiologist whose family lost $2 million. Another was Miller's neighbor, an owner of car dealerships whose suburban McMansion borders Miller's house on a pleasant lakeside cul-de-sac in Marlton. Their kids were friends, but not anymore. A third was an elderly woman who invested - and lost - $80,000 that she and her deceased husband had earned in their plumbing business.
July 21, 2013 |
Detroit's historic bankruptcy filing could raise anxiety - and, thus, interest rates - in the nearly $4 trillion municipal bond market, which cities use to fund construction and public-works projects, finance officials said. Detroit owed creditors about $19 billion. Others said that Detroit was so financially damaged and the bankruptcy so anticipated that the effect will be muted. Whatever the case, the bankruptcy filing did not come at a good time. The municipal bond market has been under pressure because of speculation that the Federal Reserve could curtail its bond-buying program this year.
May 9, 2013 |
HOUSTON - Jeffrey Skilling's more-than-24-year prison sentence for his role in the collapse of the once-mighty energy giant Enron could be reduced by as much as 10 years if a federal judge approves an agreement reached Wednesday between prosecutors and defense attorneys. Under the agreement, Skilling's original sentence will be reduced to between 14 and 171/2 years. The agreement has to be approved by U.S. District Judge Sim Lake, who is to hold a hearing June 21. Daniel Petrocelli, Skilling's attorney, said the agreement "brings certainty and finality to a long, painful process.
March 30, 2013 |
NEW YORK - A senior portfolio manager for one of the nation's largest hedge funds was arrested Friday, accused of joining an insider-trading conspiracy that the government said made more than $6 million illegally for the investment company founded by billionaire businessman Steven A. Cohen. The arrest broadens the government's probe of trading practices at SAC Capital Advisors, which manages $15 billion. Two weeks ago, the Securities and Exchange Commission said two affiliates of SAC Capital would pay more than $614 million in what federal regulators called the largest insider-trading settlement ever.
January 15, 2013 |
Rafael "Ralph" Kaplan landed a job in 2011 as an auditor for City Controller Alan Butkovitz. He called the $39,600-a-year position a "dream job. " Kaplan, 34, a licensed CPA with a master's degree in business administration, was gone six months later, dismissed at the end of his probation, ostensibly for using a four-letter word in criticizing an office seminar. Now he's a wild card in the 2013 controller's election, with a website, therealalanbutkovitz.com, that purports to present "The Real Alan Butkovitz.
November 16, 2012
In the Region Panel spreads blame for MF Global A U.S. House panel said credit rating agencies and federal regulators contributed to MF Global 's collapse last year but pinned most of the blame on ex-CEO Jon S. Corzine, the former New Jersey governor. The report issued by Republicans found that Corzine's risky strategies caused MF Global's bankruptcy. It also said rating agencies Moody's and Standard & Poor's failed to identify the biggest risk to MF Global: its $6.3 billion bet on European countries' debt.