Kaufman – Financial Treason & Crime

LUCY KOMISAR, 25 February 2021

At the House Financial Services Committee hearing last week on the GameStop debacle, there was an elephant in the room: naked short selling.

Short selling, effectively betting that a stock will go down, involves a trader selling shares he does not own, hoping to buy them back at a lower price to make money on the spread. The trader is supposed to locate (or have a “reasonable belief” he can locate) or borrow the shares in brokerage accounts, and then transfer them to the buyer within two days. This accounts for as much as 50 percent of daily trading. Continue reading “Article: The GameStop Mess Exposes the Naked Short Selling Scam”

05/08/2020

Subject: Benjamin Y. Kaufman

Subject of Interest

Benjamin Y. Kaufman is a partner at Wolf Haldenstein. He graduated from Yeshiva University (B.A. 1985), and Benjamin N. Cardozo School of Law (J.D. 1988) and Stern School of Business at New York University (M.B.A , Finance 1999). His practice areas include: U.S. Securities Litigation, Derivative Litigation, Corporate Takeover Litigation, Business Disputes, ADR & Arbitration, and False Claims Act. His bar admissions are: State of New York, State of New Jersey (inactive), U.S. Supreme Court, Fourth Circuit Court of Appeals, Southern District, New York, Eastern District, New York, Northern District, and New York District of New Jersey District of Colorado.

Wolf Haldenstein Adler Freeman & Herz LLP

08/01/201303/04/2021

Article: Steve Cohen: The Feds Get Tough, Sort Of

Article - Media, Publications

Steve Cohen: The Feds Get Tough, Sort Of

MATT TAIBBI, 01 August 2013

He’s Wall Street’s ultimate comic-book villain – with his glowing bald head and marble eyes, he looks a little like Lex Luthor. But maybe the best comparison for famed hedge-fund shark and long-suspected insider-trading ringleader Steve Cohen is the Joker. Earlier this year, when the SEC extracted $616 million from Cohen’s fund in two regulatory settlements, he expressed his deep remorse by buying, within weeks, a $155 million Picasso and a $60 million beach house in the Hamptons, right down the road from his other Hamptons beach house, worth $18 million.

It was a big fat middle finger to the government, flipped by a man who clearly thought he was getting away with a slap on the wrist, the way every other brazen Wall Street crook in the past half-decade has done so far. Continue reading “Article: Steve Cohen: The Feds Get Tough, Sort Of”

05/21/201005/13/2021

Article: Europe Comes to Terms With Market Manipulation; the SEC and the American Media Bury Heads in the Sand

Article - Media, Publications

Europe Comes to Terms With Market Manipulation; the SEC and the American Media Bury Heads in the Sand

Mark Mitchell, DeepCapture, 21 May 2010

Well, the current state of the global financial markets is certainly interesting. I mean, you have to be a bit sick in the head, but if you think about it the right way, it really is “interesting” — sort of like, oo-wee, look, the girl in the cute leotard is falling off the tightrope, there’s no net, and she’s going to go “splat” when she hits that pavement. How interesting! And check it out, the circus animals have gone berserk — the tigers are tearing the trainer into bloody shreds, the elephants are stampeding, the tent might very well collapse, maybe we’re doomed, and look at those clowns – they’re still smiling. How deliciously interesting! Continue reading “Article: Europe Comes to Terms With Market Manipulation; the SEC and the American Media Bury Heads in the Sand”