Category: scandals

The Secrets of Goldman Sachs

Posted by: David Henry on July 06

Prediction: The case of the stolen Goldman Sachs trading software will leave more tarnish on Goldman reputation than take profits from its income statement. It will also provide lots of…

Stanford’s Ex-Lawyer is on the Hot Seat

Posted by: Matthew Goldstein on May 13

Thomas Sjoblom, the hot-shot securities lawyer, who once represented disgraced financier R. Allen Stanford, is increasingly finding himself mired in a legal pickle. The Proskauer Rose partner does not come…

Stanford Official Indicted

Posted by: Matthew Goldstein on May 12

It’s not the big news that R. Allen Stanford’s investors have been waiting for the past three months. But Laura Pendergest-Holt, the former chief investment officer for Stanford’s now-defunct financial…

Bull Market for Bear Books

Posted by: Matthew Goldstein on May 12

Bear Stearns may be long gone, but a lot of trees are being killed to tell the story of its final days. The latest Bear book to hit the shelves…

Virtual Due Diligence

Posted by: Matthew Goldstein on April 28

It’s time to for authorities to start cracking down on the operators of so-called virtual offices—those fancy office suites with the receptionists and the couches in the waiting rooms that…

Stanford Lawyer Has His Own Trouble

Posted by: Matthew Goldstein on April 27

Well-known corporate lawyer Thomas Sjoblom is no stranger to high-profile court room fights. But in Sjoblom’s latest legal tussle, the former Securities and Exchange Commission attorney may be fighting for…

The SEC to the Rescue

Posted by: Matthew Goldstein on April 22

Maybe the Securities and Exchange Commission’s new motto should be better late than never. The SEC, on Wednesday, reached a settlement with hedge fund advisory firm Hennessee Group over its…

Stanford’s Media Blitz

Posted by: Matthew Goldstein on April 21

We’re not sure what to make of Allen Stanford’s “I’m not a swindler” road show. Frankly, other than Stanford’s repeated claims of innocence, occasional threats to punch reporters and blaming…

Stanford’s Double Bookkeeping

Posted by: Matthew Goldstein on April 17

Did disgraced financier R. Allen Stanford keep two sets of book at his controversial offshore bank in Antigua? Well that appears to be the preliminary finding of the British firm…

Stanford Finally Gets His Man

Posted by: Matthew Goldstein on April 16

It took a while, but hot-shot criminal defense lawyer Dick DeGuerin is officially representing disgraced financier R. Allen Stanford. And he’s about to ask a federal judge to unfreeze some…

Stanford’s Libyan Connection

Posted by: Matthew Goldstein on March 30

Did disgraced financier R. Allen Stanford cut a business deal last fall with the government of Libyan leader Muammar el-Qaddafi? Last November, Stanford may have met with a representative of…

A Mini Stanford

Posted by: Adrienne Carter on March 26

Turns out, Millennium Bank was too good to be true. At least that’s what the Securities & Exchange Commission is claiming. On March 26, the federal regulator put the kibosh…

Stanford Gears up for a Legal Showdown

Posted by: Matthew Goldstein on March 26

Alleged fraudster R. Allen Stanford is gunning for a fight. Dick DeGuerin, the celebrated Houston criminal defense lawyer who is now representing Stanford, came out firing verbal bullets today at…

Stanford’s Birthday Wish: A Lawyer

Posted by: Matthew Goldstein on March 24

Alleged fraudster R. Allen Stanford’s seemingly endless search for a lawyer may be coming to an end. A person familiar with the securities fraud investigation against the Texas financier is…

The Battle for Stanford’s Bank

Posted by: Matthew Goldstein on March 13

The fight over the remains of disgraced financier R. Allen Stanford’s offshore empire is getting ugly. A US investor is asking a court in Antigua to appoint a liquidator to…

Stanford & Son

Posted by: Matthew Goldstein on March 11

R. Allen Stanford, charged by securities regulators with running the second-biggest Ponzi scheme on record, is refusing to testify or cooperate with the investigation launched by his accusers. The Securities…

Britney, Make Way For Bernie

Posted by: Adrienne Carter on March 06

Bernard Madoff now rivals Britney Spears on the Internet. Google searches in the U.S. on the disgraced financier at times have surpassed those of the tabloid princess. His alleged Ponzi…

Stanford: It’s Now a Criminal Case

Posted by: Matthew Goldstein on February 26

The investigation into the alleged $8 billion fraud at R. Allen Stanford’s financial empire is officially a criminal matter. Late Thursday, federal authorities in Houston arrested Laura Pendergest-Holt, the investment…

Law Firm Erases Its Stanford Ties

Posted by: Matthew Goldstein on February 24

The law firm Hunton & Williams is trying hard to put some distance between itself and disgraced financier R. Allen Stanford. Up until a week ago, the national law firm…

Stanford & Politics: Stop the Huffing

Posted by: Matthew Goldstein on February 21

The political blogs are going ga-ga over all the political contributions that disgraced financier R. Allen Stanford and his employees have given to both Democrats and Republicans. In all, more…

Stanford Riches

Posted by: Matthew Goldstein on February 20

We’re starting to get a better picture of the many riches R. Allen Stanford has amassed over the years. And that’s important because some of those assets may be used…

Here Come the Stanford Lawsuits

Posted by: Matthew Goldstein on February 18

It didn’t take long for the investor lawsuits to start flying over the alleged massive fraud at Stanford Financial. Only hours after the Securities and Exchange Commission charged R. Allen…

SEC Moves Against Stanford

Posted by: Matthew Goldstein on February 17

The Securities and Exchange Commission took action to move against R. Allen Stanford’s financial empire today, alleging that he and his companies were “orchestrating” a massive $8 billion fraud. Regulators…

The Pressure Mounts on Stanford

Posted by: Matthew Goldstein on February 16

Stanford Financial is beginning to feel the fallout from an investigation by securities regulators and federal authorities into the firm’s business practices. Over the past week, the firm controlled by…

More Stanford Props

Posted by: Matthew Goldstein on February 15

Too often in the news business, there’s a tendency not to give credit to others covering a story well. I guess it’s just the competitive nature of the business that…

Stanford Scores Big with Sports

Posted by: Matthew Goldstein on February 15

One can only imagine how professional golfer Vijay Singh is feeling in the wake of the news that securities regulators and other federal authorities are investigating Texas-born billionaire R. Allen…

Stanford’s Failed Health Club

Posted by: Matthew Goldstein on February 13

Texas-born billionaire R. Allen Stanford likes to portray himself as having been born into success. For years, he talked about being a distant relative of the founder of Stanford University—something…

Stanford Props

Posted by: Matthew Goldstein on February 12

The burgeoning investigation of R. Allen Stanford’s fast-growing Stanford Financial Group is a story to keep an eye on. As we reported, there’s good reason for securities regulators to be…

Madoff Village

Posted by: Matthew Goldstein on February 05

The List is out. We’re talking about the official list of purported Madoff victims—at least the ones that have come foward so far to cry foul. And the list of…