Eight Charged with Conspiring to Distribute Fentanyl and Cocaine and Money Laundering Conspiracy
District of Massachusetts, 24 March 2021
BOSTON – Eight people were charged in federal court in Boston in connection with an investigation into a Boston-based fentanyl and cocaine trafficking and money laundering organization.
According to charging documents, a year-long wiretap investigation revealed that the defendants, who were directly connected to a poly-drug trafficking organization operating in Mexico, were actively distributing fentanyl and cocaine and laundering drug proceeds on behalf of a Mexican organization.
“All eyes have been on the COVID pandemic, but the opioid epidemic continues to kill thousands of people in Massachusetts each year,” said Acting United States Attorney Nathaniel R. Mendell. “Prosecuting drug traffickers who profit off of addiction and desperation is essential to save lives, protect the vulnerable and make communities safer. On behalf of all our federal partners, I would like to acknowledge the exceptional work of the Massachusetts State Police in this case. Their investigative skills and commitment to teamwork made this result possible.” Continue reading “Article: Eight Charged with Conspiring to Distribute Fentanyl and Cocaine and Money Laundering Conspiracy”
Jake Walker is a partner of Block & Leviton LLP. He graduated from the University of Michigan School of Law, J.D. ’10, cum laude, and Babson College, B.S. ’01, Business Administration. His practice areas include federal securities litigation. His bar admissions are: California, Massachusetts, Supreme Court of the United States, U.S. Court of Appeals for the First, Fifth, Eighth, Ninth Circuit, U.S. District Court, Northern District of California, U.S. District Court, Central District of California, U.S. District Court, Southern District of California, U.S. District Court, District of Colorado, U.S. District Court, and District of Massachusetts.
Block & Leviton LLP
Testimony Concerning The Involvement of Organized Crime on Wall Street
Richard H. Walker, 13 September 2019
The government has charged affiliates of organized crime families with securities law violations in several recent cases. While any unlawful activity by organized crime on Wall Street is cause for concern, the Commission believes such activity to be limited and not a threat to the overall integrity of our nation’s securities markets. The Commission’s experience shows that the activities of organized crime have been confined to the “microcap” securities market1 and taint only a small fraction of that sector. Moreover, through joint prosecutions with various United States Attorney’s Offices and state and local prosecutors, as well as the adoption of regulatory initiatives designed to safeguard the microcap market, the Commission has made significant strides in curtailing organized crime activity on Wall Street. Continue reading “Article: Testimony Concerning The Involvement of Organized Crime on Wall Street”
Are Short Sellers Right About Home Capital Group Inc.?
Nelson Smith, 25 August 2016
Tuesday was not a good day for Home Capital Group Inc. (TSX:HCG) shares. An anonymous author identifying as “The Friendly Bear” wrote a scathing piece about the company on the investing website “Seeking Alpha.” The article investigated the company’s relationship with a mortgage brokerage called Re-Charge Corp.
Essentially, the dirt goes something like this.
Home Capital sold mortgages to Re-Charge in the autumn of 2015 on at least 14 different occasions. Many of these mortgages were on real estate in Brampton, Ontario, which insiders view as a place where mortgage fraud is common. Thus, the author of the article hinted that the reason why many of these loans were sold is because borrowers were either behind or in default.
Additionally, one of the principals of Re-Charge Corp is William J. Walker, a lawyer who was named to Home Capital’s board of directors in November 2015. This relationship between Walker and Re-Charge was never disclosed to shareholders. In fact, the relationship with Re-Charge was never disclosed.
Continue reading “Article: Are Short Sellers Right About Home Capital Group Inc.?”
Home Capital stock in turmoil after anonymous short seller’s post
TAMSIN MCMAHON, 24 August 2016
Shares of Home Capital Group Inc. were on a roller coaster this week after a popular investor website accused the company of hiding losses by selling bad mortgages to a firm run by one of its board members.
A report posted by someone identifying as a Home Capital short seller called “The Friendly Bear” on the website Seeking Alpha on Tuesday highlighted more than a dozen mortgages that Home Capital transferred last year to a mortgage brokerage called Re-Charge Corp, based in Ancaster, Ont. One of Re-Charge’s directors is William J. Walker, a partner in the Hamilton office of law firm Gowling WLG. Home Capital appointed Mr. Walker to its board as an independent director last November.
Continue reading “Article: Home Capital stock in turmoil after anonymous short seller’s post”
Anschutz Corp. v. Merrill Lynch & Co., Inc., 11-1305
FindLaw, 14 August 2012
In a suit against Merrill Lynch and others, claiming market manipulation, fraud, control person liability, and negligent misrepresentation, district court’s judgment in favor of the defendants is affirmed where: 1) the market manipulation claims fail for the same reasons identified in Wilson v. Merrill Lynch & Co., which held that the same website disclosure at issue in this case contained sufficient information about Merrill Lynch’s support bidding practices to preclude a market manipulation claim; 2) district court properly dismissed the California Corporations Code claims as plaintiff fails to allege any injury or unlawful conduct in California; and 3) district court properly dismissed the negligent misrepresentation claims against the Rating Agency defendants as plaintiff fails to allege an actionable misrepresentation under New York law.
Read full filing.
These Defendants, acting in the course and scope of their employment by the United States of America as duly authorized Commissioners of the Securities and Exchange Commission, a federal agency, through their acts and omissions knowingly, consciously, wrongly, without compensation and without due process of law have effected a taking of property from each of the named Plaintiffs and all who are similarly situated.
PDF (18 Pages): CMKM Lawsuit Against the SEC 9 January 2010