Earlier this month, the US Securities and Exchange Commission was able to get a temporary restraining order to the freeze the assets of Joseph Blimline, the fourth person accused of masterminding a $485 million Ponzi scheme involving Provident Royalties LLC. The SEC charged three other individuals, Brendan Coughlin, [...]
A new judge will preside over the case against two former brokers accused of defrauding over 130 Nebraska investors of over $20 million. Gage County District Judge Paul Korslund takes over for Sarpy County District Judge David Arterbur, who recused himself over possible conflicts.
Prosecutors are accusing Brian Schuster [...]
The broker who pleaded guilty to one count of securities fraud for selling risky securities to four school districts in Pennsylvania has been sentenced to one year and a day in federal prison. Robert Bradbury, 63, must also pay a $10,000 fine.
The Pennsylvania school districts that were the [...]
The Supreme Court agreed to hear the Second Circuit’s “foreign-cubed” decision, Morrison v. National Australia Bank Ltd., Case No. 08-1191. In that case, the circuit court affirmed the dismissal of a securities fraud complaint for lack of jurisdiction, as discussed here. The decision by the Supreme Court could have [...]
