Word: frauds
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Dates: during 1990-1999
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BOSTON--Cambridge City Councillor William H. Walsh was sentenced to 18 months in prison yesterday for 41 counts of bank fraud and making false statements to the Dime Savings Bank of New York. Walsh was granted a stay pending appeal of his conviction...
Assistant U.S. Attorney Peter J. Mullin had asked for 36 months in prison, but federal Judge Mark L. Wolf handed down a lesser sentence because he said that Dime's policies encouraged the fraud...
...McNall, 44, stands to collect a prison sentence that could run up to nine years in the worst case. As early as this week, McNall is expected to plead guilty to four federal counts charging him with bank fraud, mail fraud and conspiracy. Two of his associates have already been accused of defrauding banks and other creditors, fleecing investors of more than $138 million by falsifying financial statements, setting up phony companies to hide assets and securing loans with fictitious collateral. Last month three others pleaded guilty to wire-fraud charges...
...lost his $55,000-a-year position as an audit manager for a food-service firm that trimmed its payroll. After a succession of part-time work and other jobs, Smith joined the consulting firm Grossberg Co. in Maryland last summer as an auditor who sniffs out financial fraud for clients who have pared back their own accounting departments. Today Smith figures that between his salary and his cut of hourly billings, he has nearly doubled his old income. Because of downsizing, he says, "a lot of companies eliminated internal controls and positions, and that's worked in my favor...
...sentencing of Cambridge City Councillor William H. Walsh on 41 counts of bank fraud and conspiracy in U.S. District Court was postponed yesterday...