Article: Five More Plead Guilty to Conspiring to Stage Automobile Accidents in Order to Defraud Insurance and Trucking Companies

Article - Media, Publications

Five More Plead Guilty to Conspiring to Stage Automobile Accidents in Order to Defraud Insurance and Trucking Companies

Department of Justice, 25 May 2021

NEW ORLEANS, LOUISIANA – United States Attorney Duane A. Evans announced that LOIS RUSSELL (“RUSSELL”), age 61 of Gibson, Louisiana, TANYA GIVENS (“GIVENS”), age 43, of Gibson, Louisiana; HENRY RANDLE (“RANDLE”), age 64, of Gibson, Louisiana; JOHN DIGGS (“J. DIGGS”), age 60, of Thibodaux, Louisiana; and DAKOTA DIGGS (“D. DIGGS”), age 25, of Ft. Smith, Arkansas, entered a plea of guilty today to Conspiracy to Commit Mail Fraud, in violation of Title 18, United States Code, Section 371, arising out of staged automobile accidents with tractor-trailers occurring in New Orleans.

According to today’s guilty plea, on March 27, 2017, RUSSELL, GIVENS, and J. DIGGS conspired with passenger James “Curtis” Williams (“Williams”) to stage an accident with a tractor-trailer at the intersection of Chef Menteur Highway and Downman Road. Damien Labeaud (“Labeaud”) and Roderick Hickman (“Hickman”), who have already pleaded guilty to staging other accidents, also participated in this accident. Hickman, while driving RUSSELL’s car, intentionally struck the 18-wheeler and then fled the scene with Labeaud. RUSSELL advised NOPD that she was the driver and she, along with GIVENS and J. DIGGS, made claims for personal injuries. In total, the victim trucking and insurance companies paid out $272,500.00 for these fraudulent claims. Continue reading “Article: Five More Plead Guilty to Conspiring to Stage Automobile Accidents in Order to Defraud Insurance and Trucking Companies”

Article: Jury convicts former VB investment advisor, Williamsburg attorney of $25M investment fraud

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Jury convicts former VB investment advisor, Williamsburg attorney of $25M investment fraud

WAVY, 30 April 2021

NORFOLK, Va. (WAVY) — Two people were convicted Friday in a nationwide investment fraud scheme that caused losses of more than $25 million for more than 300 victims, many of whom were elderly.

According to a U.S. Department of Justice news release, Daryl Bank, 51, of Port St. Lucie, Florida, ran the scheme from January 2012 to July 2017.

The scheme was based in the eastern Virginia region and Port St. Lucie and was aided by including attorney Billy Seabolt, 56, Raeann Gibson, 49, of Florida, and Roger Hudspeth 51, of Suffolk. Continue reading “Article: Jury convicts former VB investment advisor, Williamsburg attorney of $25M investment fraud”

Article: The Securities Exchange Commission is becoming woke – opinion

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The Securities Exchange Commission is becoming woke – opinion

DARLENE CASELLA , 17 April 2021

Franklin D. Roosevelt was president when the Securities Exchange Commission was created in 1934. The function of the SEC was to regulate the buying and selling of securities, and to reform the stock exchanges. Its Holy Grail was to protect investors.

Prior to the stock market crash in 1929, there was no regulation of financial markets. A flower shop could sell stocks and bonds. The shoe shine boy gave hot stock tips. Unregulated Wall Street was deficient of accurate audited information regarding securities issued or sold. False information, fraudulent rumors and get-rich-quick schemes abounded. Speculation, insider trading, manipulation, short selling and buying on low margin credit was rampant. Prominent stock brokerage firms existed, but trustworthy information was out of the question for the average person. Continue reading “Article: The Securities Exchange Commission is becoming woke – opinion”

Article: Solidus Raises $3 Million in Seed Financing to Tackle Digital Asset Market Manipulation

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Solidus Raises $3 Million in Seed Financing to Tackle Digital Asset Market Manipulation

Business Wire, 25 February 2019

Solidus Labs, provider of a machine learning-powered trade surveillance platform tailored for digital assets, secured a $3 million seed round of financing led by Hanaco Ventures. Additional participants in the round include Global Founders Capital, as well as angel investors and Wall Street veterans David Krell and Norman Sorensen. With the proceeds Solidus’ team of former Goldman Sachs engineers is set to address a major challenge preventing greater institutional and mainstream adoption of digital assets – trade manipulation and market integrity.

Solidus’ web-based platform is already deployed with diverse clients including exchanges, broker-dealers, hedge funds and market makers in Europe, the United States and Israel. The funding round will be used to continue expanding the company’s engineering and machine learning teams, as well as sales, marketing and customer success operations. Solidus is accommodating growing demand from digital asset firms, as those strive to satisfy intensifying regulatory oversight and high compliance standards of traditional financial institutions. Continue reading “Article: Solidus Raises $3 Million in Seed Financing to Tackle Digital Asset Market Manipulation”

Article: $24 billion lawsuit filed against Credit Suisse

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$24 billion lawsuit filed against Credit Suisse

Rebecca Boone

The Seattle Times, 4 January 2010

Property owners at four struggling and bankrupt resorts in Idaho, Montana, Nevada and the Bahamas have filed a $24 billion federal lawsuit against Credit Suisse Group, saying the banking giant gave predatory loans to the resorts’ investors as part of a scheme to take over the properties.

Property owners at Idaho’s Tamarack Resort, the Yellowstone Club in Montana, Nevada’s Lake Las Vegas resort and the Ginn Sur Mer Resort in the Bahamas contend that Credit Suisse set up a branch in the Cayman Islands to skirt U.S. federal bank regulations and appraised the resorts at artificially inflated values as part of a plan to foreclose.

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