November 2, 2013 |
MEDIA Tyrone Gilliams Jr. billed himself as a man of many callings: A skilled commodities trader specializing in gold, oil, and diamonds. A hip-hop promoter with top-shelf connections. An up-and-coming philanthropist and former starter for the University of Pennsylvania basketball team. And, should circumstances warrant, even a part-time online preacher. But there was one job title the 46-year-old Media resident conveniently left off his resumé: Crook. On Thursday, a federal judge in New York City sentenced Gilliams to 10 years in prison for his role in securities and wire fraud schemes that bilked investors out of more than $5 million.
September 28, 2013 |
Don't feel too stupid if you lose money to a financial fraudster. Even the smartest Wall Street hedge funds get taken sometimes. A West Conshohocken businessman, Richard Shusterman, and three others were indicted this month for allegedly committing wire fraud and swindling millions from Wall Street hedge funds. Specifically, the indictment alleges that between July 2008 and March 2010, Shusterman and his accomplices lied to investors and inflated prices of medical and hospital debts they purchased, then used the phantom profits to raise money from new investors.
September 20, 2013 |
FORMER PHILADELPHIA Traffic Judge Robert Mulgrew and his wife, Elizabeth, ripped off a community-improvement group and Uncle Sam to vacation in Ireland, send their four kids to private schools and enrich themselves, their family and friends, a federal prosecutor alleged yesterday. The stakes are high for the prominent Pennsport couple, whose trial for fraud and income-tax evasion began yesterday. If convicted on all counts, Mulgrew, 55, could face more than 100 years in prison. Elizabeth, 56, a real-estate agent, could be sentenced to 25 years in prison.
September 7, 2013 |
A husband-and-wife team charged in a multimillion-dollar time-share scam was convicted Thursday of conspiracy and related charges, along with two other employees, in a case watched closely by the vacation industry, which has been hit repeatedly in recent years with similar scams. Adam and Ashley Lacerda, cofounders of Vacation Ownership Group L.L.C., now known as VO Financial Corp., were convicted by a federal jury in Camden - he on 13 counts, she on six - of conspiracy and mail and wire fraud.
August 1, 2013 |
Because bankruptcy lawyer Donna L. Harris knows what happens to troubled financial institutions that need cash quickly, she wasn't surprised when a salesman from the Vacation Ownership Group floated what seemed like a good deal on her time share. If she sent the VO Group $27,000 quickly, she would not have to pay the rest of the $40,000 she owed on the mortgage on her Wyndham time share in San Francisco. "I was interested," she told jurors in federal court in Camden Tuesday. "I knew that banks were actually doing this.
July 17, 2013
HOW DO YOU spell "incarceration"? A Delaware County businessman may have been reminded of that yesterday after being sentenced to one year behind bars in a scheme to embezzle millions from the family that runs the country's largest spelling bee. Richard Gleeson, 37, formerly a Merrill Lynch financial adviser in Media, previously pleaded guilty to two counts of wire fraud. Federal prosecutors said Gleeson helped Michael Scripps of the Scripps Media family, which runs the Scripps National Spelling Bee, steal $3.6 million from family members to fund a lavish lifestyle.
May 16, 2013 |
JOHN McDANIEL, former campaign manager for City Councilwoman Blondell Reynolds Brown, was sentenced yesterday to one year in federal prison for stealing more than $100,000 from her campaign account. McDaniel, according to documents filed in the case, has cooperated in local and federal investigations since his indictment in February. The question left unanswered: What did that cooperation entail? Assistant U.S. Attorney Paul Gray declined to comment after the hearing about a letter he filed under seal with the judge.
April 26, 2013 |
Two close associates of State Rep. William Keller - his former administrative aide, Lorraine DiSpaldo, and his longtime business partner, Mark Olkowski - pleaded guilty to federal fraud charges Wednesday in separate cases in U.S. District Court. DiSpaldo, 58, an active figure in Democratic politics, told Judge C. Darnell Jones II that she misused $180,000 in state grants awarded to two South Philadelphia community groups. Instead of spending the money for the purposes specified in the grants - to purchase police communications equipment, secure vacant lots and buildings, and maintain the neighborhood around Dickinson Square at Fourth and Tasker Streets - DiSpaldo paid thousands of dollars in state funds to relatives and associates of her codefendant, suspended Traffic Court Judge Robert Mulgrew, and to lifelong friends of Keller, federal prosecutors said.
April 11, 2013
A Williamstown man was accused of defrauding mortgage lenders and the government by acting as a straw buyer in a multimillion-dollar mortgage fraud conspiracy involving $20 million in loans and 100 houses, most of them in Philadelphia, the U.S. Attorney's office in Philadelphia said Tuesday. According to federal documents, Mark Murphy, 47, allowed his identity to be used, along with false information about him, including false pay records, to qualify and receive a $324,000 loan on a West Philadelphia property.
April 4, 2013 |
IOWA STATE said Tuesday that coaches and staff made dozens of improper recruiting calls from 2008 to 2011 and it has asked the NCAA to levy a punishment of 2 years of probation. The university said it reported the "inadvertent" violations to the NCAA in November 2011. It said an "exhaustive" review of 3 years of telephone and text messages discovered that noncoaching staff members made 55 impermissible phone calls while coaches made 24 improper calls. In other college news: * Tulsa officials say they have accepted an invitation to join the soon-to-be-renamed Big East Conference beginning in 2014.