New York Paralegal Blog

Manhattan District Attorney Cyrus R. Vance, Jr., today announced the indictment of STEVEN BINGAMAN, 54, and his corporate entities he controlled for stealing approximately $1.2 million from at least nine victims in a securities fraud and Ponzi scheme. BINGAMAN and his entities were previously indicted in January 2011 for stealing money from two victims for similar criminal conduct. The indictments charge BINGAMAN and his corporate entities with Grand Larceny, Money Laundering, Forgery in the Second Degree, Criminal Possession of a Forged Instrument, Falsifying Business Records, Scheme to Defraud, and Securities Fraud.[1] “The defendant’s victims relied on him to conduct his business affairs with honesty and integrity, but he instead squandered their money to pay for his multiple homes, a Las Vegas bookie, and other personal expenses,” District Attorney Vance said. “This office will continue to root out and prosecute self-serving swindlers who steal from investors and create mistrust ...

NEW YORK – Attorney General Eric T. Schneiderman today announced a multimillion dollar settlement with UBS for fraudulent and anticompetitive conduct in its municipal bond derivative transactions with governments and nonprofits across the country. UBS will pay $90.8 million as part of a coordinated federal and state enforcement agency settlement. Of that amount, $63.3 million will go to a multistate restitution fund for governments and nonprofits that entered into municipal derivatives contracts with UBS, or used UBS as a broker on such deals, between 2001 and 2004. “Schemes that defraud our governments and nonprofits cheat the people those entities serve,” Attorney General Schneiderman said. “We will not tolerate this type of misconduct at any level, especially as we work to restore public faith in our economic institutions. I will continue to work with our partners in federal and state law enforcement, and use the full force of my office, to hold those at fault responsible and ens...

WASHINGTON – The Justice Department announced today that Vincent Johnson of Brick, N.J., was sentenced to 50 months in prison and three years supervised release for sending a series of threatening email communications to employees of five civil rights organizations that work to improve opportunities for, and challenge discrimination against, Latinos in the United States. Johnson was also ordered to pay a fine of $10,000. Johnson, 61, who went by the internet pseudonym “Devilfish,” pleaded guilty on Oct. 20, 2010, to 10 counts related to threatening conduct towards the victims, who included employees of the LatinoJustice Puerto Rican Legal Defense and Education Fund; the Mexican American Legal Defense and Educational Fund; the National Council of La Raza; the League of United Latin American Citizens; and the National Coalition of Latino Clergy and Christian Leaders. Johnson admitted that between November 2006 and February 2009, he emailed numerous threats to the victims to preve...

Washington, D.C., March 25, 2011 — The Securities and Exchange Commission today charged Houston-area businessman Daniel Frishberg with fraudulent conduct in connection with promissory note offerings made to clients of his investment advisory firm. The SEC alleges that Frishberg's firm Daniel Frishberg Financial Services (DFFS) advised clients to invest in notes issued by Business Radio Networks (BizRadio), a media company founded by Frishberg where he hosts his own show under the nickname "The MoneyMan." Frishberg failed to tell his clients about BizRadio's poor financial condition or his significant conflicts of interest with the note offerings that helped fund his salary at BizRadio.