Friday, June 18, 2010

Farkas Indictment

GUEST BLOGGER-SOLOMON L. WISENBERG

Here is the Lee Bentley Farkas Indictment, unsealed this week in the EDVA. Farkas is charged with conspiracy, bank fraud, wire fraud, and securities fraud. I'm surprised they didn't throw in dancing with a mailman or impersonating Smoky the Bear. The government alleged securities fraud under 18 U.S.C. Section 1348, which, surprisingly, has seen very limited use since it was enacted as part of Sarbanes-Oxley. It will be interesting to see if this is part of a new trend. There are three securities fraud counts (Counts 14-16) based upon three separate reports (10-K, 8-K, and 10-Q) filed with the SEC, each one charged as an execution of the securities fraud scheme.

(slw)

http://lawprofessors.typepad.com/whitecollarcrime_blog/2010/06/farkas-indictment.html

Current Affairs, Fraud, Mortgage Fraud, Prosecutions, SEC, Securities, Statutes | Permalink

TrackBack URL for this entry:

http://www.typepad.com/services/trackback/6a00d8341bfae553ef0133f177368c970b

Listed below are links to weblogs that reference Farkas Indictment:

Comments

Post a comment