attorney

US banks paid bonuses even more than they earn, reports NY Attorney General

July 31, 2009 - 4:43am | Banks and internet banks | News

According to the Thursday statement of New York Attorney General Andrew Cuomo, nine Wall Street banks gave out a total of $33 billion in 2008 bonuses to employees, in spite of losing billions of dollars and receiving an unprecedented government bailout.

The report considered nine banks, which received a total of $175 billion in government funds in 2008. Some of those banks, such as Goldman Sachs and JPMorgan, have already paid back those funds.

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The prison is not comfortable enough, says Allen Stanford

July 29, 2009 - 8:04am | Fraud | News

The Texas financier Allen Stanford blamed for a $7 billion fraud is to be sent to another pound as there has been no air conditioning in the cell where he is being held. Stanford, whose net worth was estimated at $2.2 billion by Forbes magazine in 2008, faces criminal charges related to an alleged Ponzi scheme centered around his offshore bank in Antigua.

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Charles Schwab denies Cuomo’s accusation of civil fraud with ARS

July 20, 2009 - 6:50am | Fraud | News

The largest US online brokerage Charles Schwab Corp declined New York Attorney General Andrew Cuomo’s claim concerning civil fraud in its marketing and sale of Auction Rate Securities (ARS).

Previously, the Wall Street Journal reported that as part of the investigation process into the sales of ARS Cuomo told a Charles Schwab affiliate that his office is planning to sue it for civil fraud.

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Jacks "J.C." Nickens will represent Allen Stanford who cannot afford a lawyer

April 15, 2009 - 5:57am | Law aspects | News

On Tuesday a court filing showed that Allen Stanford accused of an $8 billion fraud hired a civil attorney Jacks "J.C." Nickens, from the firm of Nickens, Keeton, Lawless, Farrell & Flack LLP from Houston. So far Stanford represented himself in the court explaining it by the fact that he could not afford a lawyer on account of his assets’ being frozen by authorities.

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Texas famous Dick DeGuerin may represent Allen Stanford in the court

March 25, 2009 - 4:01am | Fraud | News

Since last month when the Securities and Exchange Commission charged Allen Stanford with running an $8 billion Ponzi scheme the alleged scammer hasn’t had a full-time lawyer representing him. According to the latest reports by the Register there are some speculations that high-powered Houston attorney Dick DeGuerin is viewed as a potential candidate.

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