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Posts tagged "fraud"

Blagojevich Convicted on 1 of 24 Corruption Charges

On behalf of Law Offices of Bill O'Connell on Fri., 08/20/10 posted in Fraud Charges

On Tuesday, a federal jury in Chicago convicted Rod Blagojevich, the former governor of Illinois, on one charge of lying to the FBI, but deadlocked on 23 other corruption charges, leading the judge to order a mistrial. Blagojevich was on trial for charges involving fraud, racketeering and extortion, including a charge that he tried to sell Obama's senate seat, which was vacated after Obama was voted into the White House. He is also accused of trying to extort campaign funds from businesspeople in exchange for government business.

The jurors failed to reach a unanimous decision after 14 days of deliberation on any charge except the charge that Blagojevich lied to the FBI. They agreed with prosecutors that Blagojevich lied when he told FBI agents that he did not track campaign contributions and that he kept a "firewall" between political campaigns and government work. Blagojevich could face up to five years in prison for the single conviction. 

Continue reading Blagojevich Convicted on 1 of 24 Corruption Charges

Tags: Rod Blagojevich, corruption, extortion, fraud, racketeering

Lance Armstrong Defending Against Fraud, Drug Investigation

On behalf of Law Offices of Bill O'Connell on Thu., 07/29/10 posted in Fraud Charges

Lance Armstrong is currently under investigation for illegal, performance-enhancing drug use and doping during his bicycle career with the U.S. Postal Service Team. Armstrong came under investigation after disgraced former professional cyclist Floyd Landis accused his former teammate of using drugs and doping throughout their time on the U.S. Postal Team.

Landis was stripped of his 2006 Tour de France title after it was found that he used performance-enhancing drugs, and while he continually tried to fight the accusation and finding, he eventually admitted cheating and, at the same time, sent letters to investigators accusing other cyclists of cheating.

The seven-time Tour de France winner is also under investigation for fraud because Landis accused him and the members of the U.S. Postal Service team of selling bikes given to them by the Postal Service to fund their doping program.

Continue reading Lance Armstrong Defending Against Fraud, Drug Investigation

Tags: Lance Armstrong, Tour de France, fraud, performance-enhancing drugs

California Used-Car Dealer Gets 12-Years for Fraud

On behalf of Law Offices of Bill O'Connell on Thu., 06/03/10 posted in Fraud Charges

Maybe it's still too early to tell if the voodoo worked, but it doesn't look like it. Anyway, the man who successfully prosecuted a Downey, California, used-car dealer feels he is now in the clear to say the spells didn't work. Ruben Hernandez was sentenced Wednesday to 12 years in prison for his role in a house-buying fraud scheme that defrauded banks of millions of dollars.

In 2008, Hernandez was charged with fraud for using fake Social Security numbers and false bank statements to purchase a series of houses that ultimately cost banks $4 million. In 2009, U.S. marshals took him into custody after a high-speed chase. When they searched his Pasadena home, they were disturbed to find voodoo-like effigies of key authorities involved in the case against Hernandez. One of the dolls bore the name of the Los Angeles County deputy district attorney who was prosecuting Hernandez. The dolls had pins in their eyes and the criminal case number written on them.

Continue reading California Used-Car Dealer Gets 12-Years for Fraud

Tags: filing a false application, fraud, grand theft, voodoo

Fraud Case Might Close for Ex-San Diego City Officials

On behalf of Law Offices of Bill O'Connell on Thu., 01/21/10 posted in Fraud Charges

After six months of negotiation talks and an arduous legal battle, there may soon be a light at the end of the tunnel for five former San Diego city officials charged with financial fraud. Negotiations are underway, stated their San Diego criminal defense attorney yesterday in Federal Court.  These negotiations could signal the possible end to a battle that started in 2004, after an investigation of financial fraud by the SEC.  Essentially, the SEC argues that the city didn't make a full enough disclosure while making its municipal bond offerings, inevitably misleading Wall Street and investors.

Fraud charges were brought by the SEC against Michael T. Uberuaga, former San Diego City Manager, Edward P. Ryan, former Auditor & Comptroller, Patricia Frazier, former Deputy City Manager for Finance, Teresa A. Webster, former Assistant Auditor & Comptroller, and Mary E. Vattimo, former City Treasurer. 

Misleading investors is a Federal offence.   Section 10(b)(5) of the 1934 Securities Act prohibits any act or omission resulting in fraud or deceit in connection with the purchase or sale of any security.   Unfortunately for these officials, the concept of "misleading" is fairly broad and in the case of these San Diego city officials, not all of them played the same role in the alleged fraud. 

Continue reading Fraud Case Might Close for Ex-San Diego City Officials

Tags: City of San Diego, Fraud, SEC, San Diego, Securities Act

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