4 Former El Paso Traders to Plead Guilty
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Four former El Paso Corp.  natural gas traders will plead guilty to criminal charges for reporting bogus trade prices to an industry publication and will cooperate with a U.S. government probe, prosecutors said on Wednesday.
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Thomas Hall, one of four former midlevel Qwest executives charged with fraud in a 2001 equipment sale, will plead guilty to a misdemeanor, his attorney, Jeffrey Springer, said Friday.
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Three or four former El Paso natural gas traders who had been told they&#39;re targets of a criminal investgation are expected to make an appearance before a US magistrate judge at 2 pm today.
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A former Army Corps of Engineers contractor accused of giving confidential information to a company seeking work on a levee reconstruction project has agreed to plead guilty to bribery, federal prosecutors said Thursday.
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LaFAYETTE, Ga. -- A former crematory operator pleaded guilty Friday to dumping more than 330 corpses on his property and giving the relatives of the dead cement dust instead of ashes. Under a deal with prosecutors, Ray Brent Marsh could get up to 12 years in prison.
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Former Gov. John G. Rowland will plead guilty Thursday to federal charges in U.S. District Court, the Associated Press has learned.
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Milberg Weiss ex-partner David Bershad agreed to plead guilty to charges related to a scheme to pay illegal kickbacks to plaintiffs in securities lawsuits, federal prosecutors said.
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(InfoWorld) - Three U.S. men and one man living in France have pleaded guilty to charges related to a stock manipulation scheme that included sending out tens of millions of spam messages to pump up the stock value of 15 companies, the U.S. Department of Justice said Thursday. The four men cost investors more than $20 million in their so-called pump-and-dump scheme, the DOJ said. Michael Saquella, also known as Michael Paloma, 47, of Mesa, Arizona., pleaded guilty in U.S. District Court for the Eastern District of Virginia in Alexandria on Aug. 20. Lawrence J. Kaplan, 63, of Scottsdale, Arizona, pleaded guilty on July 25, in Alexandria to similar charges. Henry "Hank" J. Zemla, 38, of Harris Township, Michigan, also pleaded guilty in federal court in Alexandria on July 20. The three defendants are scheduled to be sentenced between late November and early February. Saquella pleaded guilty to a criminal information charging him with one count of conspiracy to commit securities fraud and one count of electronic mail fraud involving 15 publicly traded companies. Kaplan pleaded guilty to a criminal information charging him with one count of conspiracy to commit securities fraud involving 14 of these companies, and Zemla pleaded guilty to a criminal information charging him with one count of conspiracy to commit securities fraud involving one of the companies. The plea agreements for all three defendants were unsealed Thursday. The scheme involved stocks from companies including eDollars, Xtreme Technologies, and PokerBook Gaming. Justin Medlin, 26, of Paris, also pleaded guilty in federal court in Alexandria on Aug. 20 to a criminal information charging him with one count of electronic mail fraud and one count of conspiracy to commit securities fraud and electronic mail fraud involving seven of the companies. Medlin's plea agreement was unsealed Thursday. He will be sentenced on Nov. 30. The maximum penalties for each of the fraud charges is five years in prison and a $250,000 fine. The stock manipulation schemes generally followed a similar pattern, the DOJ said. The defendants generally solicited small, privately held companies that needed to raise money. One of the defendants would offer to help the company raise significant money through the sale of the company's stock, and then the defendants would list the company's shares on the Pink Sheets, a price quotation system primarily used for trading small companies' stocks. The group of defendants would then gain control of a majority of the stock of the company, the DOJ said. The co-conspirators then engaged in deceptive and manipulative trading practices to boost the price and volume of the company's stock, the DOJ said. In some cases, members of the conspiracy encouraged investors to purchase companies' stock by giving the investors free-trading shares in return for buying blocks of shares at agreed-upon prices, thereby creating the illusion of trading volume and active investor interest. In other instances, members of the conspiracy bought and sold shares of the companies' stock between and among themselves to give the appearance of investor interest, the DOJ said. The co-conspirators also falsely manipulated the price and volume of each company's stock by making materially false and misleading statements in news releases and in spam e-mails distributed by Medlin and other spammers to tens of millions of U.S. e-mail addresses, in an effort to create artificial demand for the companies' stock, the DOJ said. In related actions, the U.S. Securities and Exchange Commission has filed civil charges against Saquella and Kaplan for their part in the schemes to manipulate the price and volume of the companies' securities. Three other defendants, Steven P. Luscko, Gregory A. Neu, and Brian G. Brunette, have pleaded guilty and have been sentenced in federal court in Alexandria for their roles in related stock manipulation schemes. Luscko and Neu were each sentenced to five years in prison and Brunette was sentenced to one year in prison.
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A former senior executive at Marsh &amp; McLennan Cos. Inc. and two American International Group Inc. employees pleaded guilty yesterday to criminal charges in New York's probe of bid rigging and price fixing in the insurance industry.
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WASHINGTON, Aug 25  - A former top Enron official responsible for investor relations pleaded guilty Wednesday to securities fraud as part of a plea agreement, under which he has agreed to cooperate fully with the government&#39;s ongoing criminal
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Four executives at Infineon Technologies AG and its US subsidiary, Infineon Technologies North America Corp., are to plead guilty to participating in an international conspiracy to fix prices in the DRAM market, the US Department of Justice (DoJ) said
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BetonSports pleaded guilty to racketeering charges and agreed to cooperate in a case against the companyâs founder and other defendants.
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A former pharmaceutical executive and two of his sons pleaded guilty yesterday to conspiracy charges for engaging in what authorities called a "brazen" scheme to profit more than $2 million from illegal stock tips passed among the family members and their friends.
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William S. Lerach is expected to plead guilty to a criminal conspiracy charge in connection with a class-action scheme involving his former firm.
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Former Medimmune executive Eric Tsao is expected to plead guilty Friday to securities fraud, a case legal experts say is the latest in a series against high-profile defendants who allegedly try to subvert investigations. -The Washington Post
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Four sales executives of German chip maker Infineon Technologies AG (IFXGn.DE: Quote, Profile, Research) have agreed to plead guilty to participating in a conspiracy
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Three former executives of the Countrywide Financial have agreed to plead guilty to charges they conducted insider trading.