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Jury Convicts Executive in $3B Mortgage Fraud Case
By not in system - AOL NewsALEXANDRIA, Va. -- A jury on Tuesday convicted the majority owner of what had been one of the nation's largest mortgage companies on all 14 counts in a $3 billion fraud trial that officials have said is one of the most significant prosecutions to arise from the nation's financial crisis. Prosecutors said Lee Farkas led a fraud scheme of staggering proportions as chairman of Florida-based Taylor Bean & Whitaker. The fraud not only caused the company's 2009 collapse and the loss of jobs for its 2,000 workers, but also contributed to the collapse of Alabama-based Colonial Bank, the sixth-largest ...
Banks, Credit-Card Issuers Warn of Security Breach
By not in system - AOL NewsNEW YORK -- With the possible theft of millions of email addresses from an advertising company, several large companies have started warning customers to expect fraudulent emails that try to coax account login information from them. Companies behind such brands as Chase, Citi and Best Buy said over the weekend that hackers may have learned their email addresses because of a security breach at a Dallas-based company called Epsilon that manages email communications. The email addresses could be used to target spam. It's also a standard tactic among online fraudsters to send emails to random ...
Cops: Man Robs Bank After Giving Teller Two Forms of ID
By Steven Hoffer - AOL NewsTurns out you don't need a withdrawal slip to rob a bank. Police say a man recently attempted to loot a central Pennsylvania bank, but only after providing tellers with the two forms of ID necessary to open an account. According to Harrisburg police, 35-year-old Daniel Rahynes entered the Metro Bank on North Second Street around 1:40 p.m. Sunday and told bank employees he was interested in opening an account, The Patriot-News reports. Harrisburg Police Police in Harrisburg, Pa., say Daniel Rahynes, 35, attempted to rob a bank after telling employees he wanted to open an account ...
Rudolf Elmer: 5 Facts on the Swiss WikiLeaks Informant
By Steven Hoffer - AOL NewsRudolf Elmer admits that he's made some "big mistakes." Among his legal missteps, Elmer supplied WikiLeaks with confidential documents on wealthy tax evaders. Zurich's Regional Court found the former Swiss banker guilty of that offense on Wednesday. Judge Sebastian Aeppli fined Elmer over 6,000 Swiss francs ($6,000), opting not to impose a prison sentence. But while Elmer has been found guilty, that doesn't change things for WikiLeaks. Julian Assange says that the banking information will be treated as any other document obtained by WikiLeaks, adding that the organization could take several ...
Julian Assange and Bank of America Sit Down for Tea
By Robert and Donna Trussell - Politics DailyFollow the Trussell cartoons on Twitter at ChaosTheoryPD ...
WikiLeaks Founder Says Next Target Is Major US Bank
By Lauren Frayer - AOL News(Nov. 30) -- WikiLeaks founder Julian Assange says big business is next. Early next year, WikiLeaks will publish tens of thousands of internal documents from a major U.S. bank, exposing the institution's rampant corruption and unethical practices and executives' brazen self-interest, Assange said in an exclusive interview with Forbes magazine. "It will give a true and representative insight into how banks behave at the executive level in a way that will stimulate investigations and reforms," Assange said in an interview conducted before this past weekend's leak of diplomatic memos. "It's ...
Feds Launch 50 Criminal Probes of Failed Banks
By Christopher Weber - Politics DailyDozens of former officials and employees of banks that went belly-up during the height of the Wall Street meltdown are the subjects of criminal investigations by the federal agency that oversees the institutions. The Federal Deposit Insurance Corp. has opened about 50 separate probes as it seeks to punish alleged fraud and other criminal behavior that occurred during the financial crisis that started two years ago, The Wall Street Journal reported. The FDIC declined to name the ex-executives, directors and workers who are being investigated, or the banks for which they worked. "We ...
Economist Stiglitz: Put Corporate Crooks in Jail
By not in system - AOL News
Oct. 22 -- An institutionalized system of skewed incentives allowed Wall Street bankers and other corporate executives to gamble with America's wealth and then get away largely scot-free after the house of cards came tumbling down, plunging the U.S. into the worst economic crisis in decades and destroying trillions of dollars of wealth worldwide. That's the analysis of Joseph Stiglitz, an internationally renowned economist and winner of the 2001 Nobel Prize in economics. (His latest book, Freefall: America, Free Markets, and the Sinking of the World Economy, is just out in paperback.) ...
Banks to Underwater Homeowners: Don't Get Comfy
By Robert and Donna Trussell - Politics DailyFollow the Trussell cartoons on Twitter at ChaosTheoryPD ...
Republicans vs. Democrats: Toys R Them
By Robert and Donna Trussell - Politics Daily...
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