Word: fraud
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...outraged by the behavior of Las Vegas real estate agent Brooke Boemio. It is perplexing that she is aware that what she is doing is unethical, yet she seeks out clients and counsels them to commit fraud. I hope the Las Vegas Board of Realtors holds her accountable for her actions. Tracy Jones, ANCHORAGE...
...doesn't have to be something that moves the market to amount to proxy fraud," says Richard Painter, a law professor at the University of Minnesota. "Just has to be something that a reasonable investor finds important...
...York's Cuomo does have the authority to bring criminal cases involving securities violations under the Martin Act, which gives the attorney general of New York the power to prosecute financial fraud. And it is not unheard of for executives to go to jail for lying on a proxy statement. In the 1970s, in a famous Wall Street fraud case, the chief executive of National Student Marketing was sentenced to 18 months in jail for lying about the finances of a company National Student Marketing was acquiring. Yet Cuomo has typically stuck to bringing civil charges against executives and companies...
...Cuomo will have a higher bar to clear if he's looking for wrongdoing outside the proxy statements. In general securities-fraud cases, it must be proven that executives of a company knew that a piece of information was material and created a scheme to make sure shareholders didn't find out about it. Certainly if Lewis or others were found guilty of that they would face stiff penalties. What's more, judges typically are more likely to ban, at least temporarily, executives of financial-services companies who are found in violation of securities-fraud laws because it is considered...
...Taliban defectors who were distrusted by their former jihadi comrades. Mullah Omar broke off talks through Saudi Arabia several months ago, saying that the Taliban would only talk with Karzai once all foreign troops had agreed to withdraw from Afghanistan. Taliban experts say that, if anything, the fraud-tainted elections have damaged Karzai's standing so badly that the Taliban and their supporters in Pakistan no longer see the need for peace talks. In other words, says Taliban commander Mullah A, "We believe we will...