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May 16, 2011

CFTC | Enfocement Actions: Press Release: CFTC Charges Puerto Rico Resident Angel F. Collazo and ACJ Capital, Inc. with Solicitation Fraud and Issuing False Statements in Off-Exchange Leveraged Foreign Currency Scheme


May 16, 2011

RELEASE: pr6039-11

Federal court issues order freezing defendants’ assets and protecting books and records.

Washington, DC — The U.S. Commodity Futures Trading Commission (CFTC) today announced that it filed a complaint charging Angel Fernando Collazo of Salinas, Puerto Rico, and his company, ACJ Capital, Inc. (ACJ), with fraudulently soliciting at least $1.7 million from at least 18 individuals to trade off-exchange leveraged foreign currency (forex) contracts and issuing false statements to conceal trading losses.
On the same day the complaint was filed under seal, May 4, 2011, Judge José A. Fusté of the U.S. District Court for the District of Puerto Rico issued an emergency order, also under seal, freezing the defendants’ assets and prohibiting the destruction of books and records.
The CFTC complaint alleges that Collazo and ACJ fraudulently solicited customers to trade forex through accounts managed by Collazo. In soliciting customers, Collazo allegedly falsely claimed that ACJ’s trading program was profitable, created the false impression that ACJ was a successful and experienced forex firm and minimized and failed to disclose fully the risks of trading leveraged forex. Customers granted Collazo authority to trade their accounts, and his trading on customers’ behalf resulted in consistent losses, according to the complaint.
As part of the fraud, Collazo allegedly misled customers regarding the performance of their investments and assured customers that their investments were performing well, despite the losses. Collazo created and sent customers false trading account statements that concealed the extent of losses in their accounts, according to the complaint. When ACJ’s customers noticed that their accounts appeared to show losses, Collazo falsely told them that their online account statements were inaccurate due to a computer malfunction, according to the complaint. Collazo then allegedly told customers that he had access to their “true” account balances and sent them false account statements that reflected positive ending balances.
In its continuing litigation, the CFTC seeks restitution to defrauded customers, disgorgement of ill-gotten gains, civil monetary penalties, trading and registration bans and permanent injunctions against further violations of the federal commodities laws.
On May 4, 2011, Collazo was indicted for wire fraud and commodities fraud by the United States Attorney’s Office for the District of Puerto Rico.
The CFTC appreciates the assistance of the U.S. Attorney’s Office of the District of Puerto Rico and the United States Marshals Service.
The CFTC Division of Enforcement staff members responsible for this case are Kara Mucha, Jeremy Christianson, James A. Garcia, Michael Solinsky, Gretchen L. Lowe and Vincent A. McGonagle.
Last Updated: May 16, 2011

Media Contacts
Dennis Holden
202-418-5088

Office of Public Affairs

GATA | THE GATA DISPATCH: Silver remonetization gaining in Mexico, Hugo Salinas Price tells KWN


4:21p ET Monday, May 16, 2011
Dear Friend of GATA and Gold (and Silver):
Hugo Salinas Price, president of the Mexican Civic Association for Silver and a speaker at GATA's Gold Rush 2011 conference in London in August (http://www.gatagoldrush.com), today tells King World News that the prospects for remonetizing silver in Mexican have increased greatly because of strong support in Mexico's Congress. He believes that "quantitative easing" in the United States has pushed Mexico's central bank toward diversifying its foreign exchange reserves into the precious metals. An excerpt from the interview with Salinas Price is headlined "QE in U.S. Will Lead to Utter Destruction" and you can find it at the King World News blog here:
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2011/5/16_Hu...
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
Join GATA here:
World Resource Investment Conference
Sunday-Monday, June 5-6, 2011
Vancouver Convention Centre East
Vancouver, British Columbia, Canada

http://cambridgehouse.com/conference-details/world-resource-investment-c...

Gold Rush 2011
GATA's London Conference
Thursday-Saturday, August 4-6, 2011
Savoy Hotel, London, England

http://www.gatagoldrush.com

Support GATA by purchasing gold and silver commemorative coins:

https://www.amsterdamgold.eu/gata/index.asp?BiD=12
Or by purchasing a colorful GATA T-shirt:

NYT: Afternoon Business News; Deadline Looming, BP Tries to Salvage Rosneft Deal




BUSINESS

Deadline Looming, BP Tries to Salvage Rosneft Deal

By JULIA WERDIGIER and ANDREW E. KRAMER
BP tries to mollify partners in a separate Russian venture to complete a deal with Rosneft to explore for oil in the Arctic.

U.K. Plans 50 Percent Cut in Greenhouse Gas Emissions by 2025

By JAMES KANTER
Britain is poised to announce ambitious targets for cutting the emissions - an example of a government committing to big environmental initiatives even as it pursues austerity measures.
Media Decoder Blog

Live Blogging the Upfronts: NBC

By BRIAN STELTER
NBC, now under Comcast's control, kicked off the annual introductions of fall television lineups with a promise that it would salvage the network's image.

Chinese Company Rides to Saab's Rescue, Again

By DAVID JOLLY
A week after a previous deal collapsed, the Swedish company signed a tentative agreement with the largest publicly traded car distributor in China, Pang Da Automobile Trade.

Picking the Right Credit Card for Travel Perks

By JANE L. LEVERE
Credit card issuers are intensely interested in business travelers. The right card can offer perks suited to the way you travel.

Financial & Forex Info | The Australian Capital Circle: Blight Joins Gillard In Newspoll Purgatory





Capital Circle Newsletter

Bligh joins Gillard in Newspoll purgatory
 
Julia Gillard's budget sales pitch takes her to see a key independent ally today.

The PM's diary: Julia Gillard starts her day in Canberra. She will fly to Tamworth just after midday to visit the electorate of independent MP Tony Windsor.  She will visit the Sports Dome and the Tamworth Base Hospital. Two weeks ago Ms Gillard's government provided $120 million for the Tamworth Hospital redevelopment, to be funded under a special regional "priority" health fund.
Tony Abbott takes his travelling road show to Geelong, Victoria today where he will continue to talk about cost of living pressures and the impact  on manufacturing of Labor's proposed carbon tax.
The narrative: Labor has shifted its political message back to promoting economic reform in the wake of internal criticism of Julia Gillard's performance in selling last week's budget and its failure to secure a bounce for the government in opinion polls. (report)
Julia Gillard writes: The government's budget was framed at a time of transition, a time of transition where we believe global economic might is transitioning from west to east.
Food for thought: The multi-party climate change committee will meet today. Up for discussion, as Lenore Taylor reports, will be research from Deloittes that shows a carbon price of $40 a tonne is needed to force a switch from coal to new, gas-fired electricity generation and reduce Australia's emissions, the federal government has been advised.
New brass: The replacement for retiring Major General Mark Evans, the officer responsible for overseeing overseas deployments including Afghanistan , is expected today by Air Chief Marshal Angus Houston. (Read more...

Mumble
Peter Brent
Peter Brent
 
Australia's miracle economy: fact or fiction?
The Australian "miracle economy" has long been an article of faith among commentators and the political class generally. From the early 1990s until...

Financial & Forex Info | Reuters Daily Investor Update: Nasdaq Leads Wall Street Lower on Economy Worry









News
LATEST NEWS
Nasdaq leads Wall Street lower on economic worry
NEW YORK (Reuters) - The Nasdaq sank, leading U.S. stocks lower on Monday, as investors sold recent winners in a sign of growing unease with pockets of U.S. economic weakness. | Full Article

Nasdaq, ICE withdraw NYSE bid, cite regulators
May 16, 2011 12:19 PM ET
NEW YORK (Reuters) - Nasdaq OMX Group Inc and IntercontinentalExchange withdrew their hostile $11.3 billion bid for rival NYSE Euronext on Monday, citing opposition from U.S. antitrust regulators. | Full Article
New TMX takeover proposal eyes foreign expansion
May 16, 2011 03:42 PM ET
TORONTO (Reuters) - A proposal by a group of Canadian banks and pension funds to take over the operator of the Toronto Stock Exchange offers cost savings and opportunities for international growth, the group said on Monday. | Full Article
Gross says PIMCO "never" short Treasuries: report
May 16, 2011 01:28 PM ET
NEW YORK (Reuters) - Bill Gross, manager of top bond fund PIMCO, said on Monday it was a "misconception" that the firm was betting against U.S. Treasuries, despite his concerns about the U.S. fiscal outlook. | Full Article
Lowe's cuts outlook after weak spring sales
May 16, 2011 10:54 AM ET
NEW YORK (Reuters) - Lowe's Cos reported weaker-than-expected quarterly results on a slow start to the spring selling season, prompting the world's second-largest home improvement chain to cut its forecast for the year. | Full Article
US TOP NEWS
Strauss-Kahn denied bail in sex assault case
May 16, 2011 03:32 PM ET
PLEASE NOTE: Sexually explicit language in paragraphs 13-14 | Full Article
ICC prosecutor targets Gaddafi as NATO steps up raids
May 16, 2011 03:46 PM ET
THE HAGUE/TRIPOLI (Reuters) - A war crimes prosecutor on Monday sought an arrest warrant for Muammar Gaddafi accusing him of killing protesters against his 41-year rule as NATO stepped up air strikes on Libyan forces. | Full Article
Ryan pushes spending cuts as U.S. hits debt limit
May 16, 2011 04:16 PM ET
WASHINGTON/CHICAGO (Reuters) - The United States reached the legal limits of its borrowing authority on Monday as a top Republican increased his party's demand for deep spending cuts as part of any increase. | Full Article
Trump abandons designs on White House in 2012
May 16, 2011 03:17 PM ET
NEW YORK (Reuters) - Donald Trump will not be adding the White House to his luxury resort holdings. The Donald on Monday took himself off the 2012 Republican presidential candidate list. | Full Article
Louisiana floodwaters creep toward bayou towns
May 16, 2011 03:47 PM ET
MORGAN CITY, Louisiana (Reuters) - Waters unleashed by the opening of a key Mississippi River floodway crept through the Louisiana bayou on Monday in a surge that could leave thousands of homes and farms under as much as 20 feet of water. | Full Article
HEALTH NEWS
Scientists find "master switch" gene for obesity
Scientists find genetic link to depression
Study finds gene clues to African cattle disease
Risk of death no greater with ADHD drugs: study
Zurich voters reject ban on "suicide tourism"


The Washington Post | Post Politics Afternoon Edition: The Fix: What Trump Can Teach The GOP Field

The Washington Post

Politics Afternoon Edition

HEADLINES

  1. The Fix: What Trump can teach the GOP field

    The reality star isn't running for president. But his flirtation with the race is instructive for those who are running.
    » Read full article
  2. Treasury to tap pensions to fund government

    The Obama administration will begin to tap federal retiree programs to help fund operations after the government lost its ability Monday to borrow more money from the public, adding urgency to efforts in Washington to fashion a compromise over the debt.
    » Read full article
  3. The Plum Line: bin Laden info didn't come from CIA detainee, Panetta says

    CIA director Leon Panetta's letter undercuts the claim that harsh interrogation methods led to Osama bin Laden.
    » Read full article
  4. Supreme Court won't revive ‘extraordinary rendition' lawsuit

    An appeal had asked the court to examine two controversial aspects of the U.S. response to the 9/11 attacks, "the extraordinary rendition" program that sent the suspects to secret prisons and the “state secrets privilege.”
    » Read full article
  5. Ryan defends Medicare overhaul, argues that GOP plan would grow economy

    The architect of the GOP's controversial Medicare overhaul delivered a forceful defense of the plan here Monday, saying it would empower seniors and accusing President Obama of having a "shared-scarcity mentality" that promotes "bureaucratically rationed health care."
    » Read full article

The Economist | Selected New Articles: The arrest Dominique Strauss-Kahn | Israel | Lee Kuan Yew | Different Engine | Syria | Yahoo and Alibaba | Daily Chart | Online Debate




The arrest of Dominique Strauss-Kahn: No he Kahn't
Israel: Unrest on the borders
Lee Kuan Yew: Not fade away
Difference Engine: Intel left outside
Syria: Neighbourhood watch
Yahoo! and Alibaba: What was ours is now mine
Daily chart: The biggest losers
Online debate: Should governments focus more on well-being and less on GDP?

CBS | Political Hotsheet Top Stories: Glenn Beck announces rally in Israel

The CBS News Political Hotsheet newsletter

 CBS POLITICAL HOTSHEET TOP STORIES    



   
After trip to Israel, Beck announces rally to "restore courage" in Jerusalem
Read full story
Glenn Beck announces rally in Israel

Rahm Emanuel promises unity in Chicago Former White House official sworn into office, immediately takes aim at GOP-led fiscal austerity efforts in other states

Donald Trump not running for president Real estate mogul says "I am not ready to leave the private sector"; maintains he could have won

US hits debt limit; Treasury Secretary Tim Geithner says U.S. has reached $14.3 trillion debt ceiling, begins taking steps to temporarily delay repercussions

Gingrich: GOP Medicare plan radical, right-wing GOP presidential candidate slams Ryan's Medicare plan - even though he once said he'd vote for it

MarketWatch | Personal Finance Daily: Commodities volatility swings both ways

MarketWatch

Personal Finance Daily
MAY 16, 2011

Commodities volatility swings both ways

By MarketWatch



Don't miss these top stories:

Ignoring the downs is never easy, as investors in commodities funds are finding out, Chuck Jaffe writes in his column. He notes that commodities investors certainly have been rewarded, as the average broad-basket commodities funds returned around 40% more than the S&P 500 Index (SPX) over the past 12 months. But now that there's been a bit of a chill and commodities have shown their volatility isn't all to the upside, what's an investor to do?

Most of the investment advisers Chuck talks to say that if you're allocating the appropriate amount toward commodities, you should probably leave it in place and not try to time things. But remember that volatility swings both ways.

Also in today's Personal Finance lineup, Kristen Gerencher examines the difficult — yet also important and potentially rewarding — aspects of communicating with family and friends who are suffering from dementia. Last year, about 15 million family members and friends cared for people with Alzheimer's or other conditions, amounting to 17 billion hours of unpaid care, according to the Alzheimer's Association. By 2050, the number of people with the disease is projected to balloon to as many as 16 million Americans, up from 5.4 million today.

Company, stimulation and creative means of connecting and communicating are vital for both patient and caregivers alike.

— Anne Stanley , managing editor, Personal Finance

No more free lunch for commodities investors

Mutual-fund investors who decided a year ago or more to take a chance on commodities funds have found out recently what all the warnings and danger signs were about. The question is how they intend to deal with it.
Read more: No more free lunch for commodities investors.


Helping friends, family members with dementia

Watching a loved one with dementia reach the final stages is heartbreaking. But you don't have to give up on maintaining a meaningful connection with that person.
Read more: Helping friends, family members with dementia.


AUTO REVIEW

2011 Nissan Maxima 3.5 SV: luxury and power

Nissan's top-line Maxima has plenty of power, room and good handling, but a couple of glitches and the price-options ratio put it a step behind other entries in a very competitive class.
Read more: 2011 Nissan Maxima 3.5 SV: luxury and power.


SPENDING & SAVING

Money strategies for Mr. Mom

Husbands and wives increasingly are switching the traditional roles of breadwinner and household manager. But many of them haven't followed through with an appropriate financial tune-up.
Read more: Money strategies for Mr. Mom.


Making young kids smarter about finance

How can you prepare your child to make dollars and sense of a tumultuous economy? Start as early as possible.
Read more: Making young kids smarter about finance.


ECONOMY & POLITICS

IMF chief's arrest unlikely to derail debt talks

Dominique Strauss-Kahn's arrest on sexual-assault charges will cast a shadow over debt negotiations, but is unlikely to alter the institution's role in the crisis, some economists say.
Read more: IMF chief's arrest unlikely to derail debt talks.


Why are we in debt? Tax cuts, recessions, wars

The federal government's finances would be in great shape today if only we'd managed to stay out of a couple of wars and a couple of recessions, and if we hadn't foolishly cut tax rates.
Read more: Why are we in debt? Tax cuts, recessions, wars.


INVESTING

Margin hikes threaten your silver, gold, oil stake

Professional traders can tell when exchanges are about to impose margin hikes on investors to trade silver and commodity futures. Individual investors can hone such instincts using a few sharp trading strategies and common sense.
Read more: Margin hikes threaten your silver, gold, oil stake.


For Nasdaq, a failure of execution

A deal that has monopoly power as its best asset isn't good for consumers, even if that means the NYSE falls into German hands.
Read more: For Nasdaq, a failure of execution.

SEC | Litigation Releases Update



The following litigation releases  have been updated by SEC:

Commodities Online, LLC and Commodities Online Management, LLC
04/21/2011 01:29 PM EDT
SEC CHARGES SOUTH FLORIDA COMPANIES IN $27 MILLION COMMODITIES INVESTMENT FRAUD

Jupiter Group Capital Advisors, LLC, and Rick Cho
05/10/2011 05:34 PM EDT
SEC Charges Investment Firm and Its President with False Statements - Firm and President Refused to Comply with SEC Requests to Examine Records

Patrick M. Carroll, James P. Carroll, William T. Carroll, David A. Stitt, John P. Monroe, Stephen Somers, David Mark Calcutt and Christopher T. Calcutt
05/03/2011 05:36 PM EDT
SEC Charges Kentucky Steel Company Executives With Insider Trading

North American Clearing, Inc., et al.
05/05/2011 11:40 AM EDT
District Court Finds Richard L. Goble Liable for Fraud

Lloyd V. Barriger
05/13/2011 03:36 PM EDT
SEC Charges Lloyd V. Barriger, Monticello, New York Investment Adviser, With Multi-Million Dollar Fraud

Thor Industries, Inc., and Mark C. Schwartzhoff
05/13/2011 01:18 PM EDT
SEC Charges Thor Industries With Violating Commission Cease-and-Desist Order and Charges Former VP of Finance of Thor Subsidiary With Securities Fraud


Advanced Optics Electronics, Inc., Leslie S. Robins, JDC Swan, Inc. and Jason Claffey
05/13/2011 03:36 PM EDT
SEC Brings Civil Action Against Advanced Optics Electronics, Inc., its Former Chairman Leslie S. Robins, and Stock Seller Jason Claffey For Engaging in an Unlawful Public Offering

ICP Asset Management, LLC, ICP Securities, LLC, Institutional Credit Partners, LLC, and Thomas C. Priore
05/05/2011 11:07 AM EDT
The Securities and Exchange Commission today announced that it is seeking leave to file additional claims in its case against investment advisory firm ICP Asset Management, LLC (ICP) and its founder, owner and president, Thomas C. Priore.

Robert D. Orr, Leland G. Orr, Michael S. Lowry, Michael S. Hess, Kyle L. Garst, and Travis W. Vrbas
05/04/2011 03:35 PM EDT
SEC CHARGES SIX FORMER EXECUTIVES OF THE BROOKE COMPANIES WITH FINANCIAL AND DISCLOSURE FRAUD

George Garcy et al.
05/11/2011 06:06 PM EDT
The Securities and Exchange Commission today charged the co-founders of a New York-based beverage and food carrier company with orchestrating an $8 million securities fraud and spending at least half of investor money for their personal use.

Jay L. LeBoeuf and New Castle Energy
05/13/2011 05:37 PM EDT
SEC CHARGES RECIDIVIST JAY LEBOEUF AND NEW CASTLE ENERGY LLC FOR FRAUDULENT OIL AND GAS OFFERINGS

Michael Baker Corporation, John Scullin and Dennis Higgins
05/11/2011 04:29 PM EDT
Commission Charges Former Michael Baker Employee with Fraud for Artifically Inflating Company's Income, and Another Former Employee with Insider Trading

Allen E. Weintraub and AWMS Acquisitions, Inc., d/b/a Sterling Global Holdings
05/04/2011 03:35 PM EDT
SEC Sues Allen E. Weintraub and Sterling Global Holdings for Securities Fraud

Louis W. Zehil, Strong Branch Ventures IV LP, and Chestnut Capital Partners II, LLC
05/12/2011 10:43 AM EDT
Final judgments entered against defendant securities attorney and affiliated entities in securities fraud

David Ronald Allen, et al.
05/03/2011 04:44 PM EDT
SEC HALTS PONZI SCHEME BY CO-FOUNDER OF CHINA VOICE HOLDING CORP


Luis Felipe Perez
05/12/2011 05:38 PM EDT
COURT ENTERS JUDGMENT OF PERMANENT INJUNCTION AGAINST LUIS FELIPE PEREZ AND THE COMMISSION DISMISSES ITS MONEY CLAIMS AGAINST PEREZ IN LIGHT OF HIS 10-YEAR PRISON SENTENCE AND $14 MILLION RESTITUTION ORDERS IN PARALLEL CRIMINAL ACTION

UBS Financial Services Inc.
05/04/2011 03:35 PM EDT
SEC Charges UBS with Fraudulent Bidding Practices Involving Investment of Municipal Bond Proceeds.

Jonathan Hollander
04/28/2011 05:15 PM EDT
SEC CHARGES FORMER HEDGE FUND PROFESSIONAL WITH INSIDER TRADING.

K.W. Brown and Company, et al.
04/27/2011 04:22 PM EDT
SEC Created Fair Fund Returns Nearly $6 Million to Defrauded K.W. Brown Investors




Francisco Illarramendi, Highview Point Partners, LLC and Michael Kenwood Capital Management, LLC, as Defendants, and Highview Point Master Fund, Ltd., Highview Point Offshore, Ltd., Highview Point LP, Michael Kenwood Asset Management, LLC, Michael Kenwood Energy and Infrastructure LLC, and MKEI Solar, LP, as Relief Defendants
05/16/2011 11:17 AM EDT
SEC CHARGES CONNECTICUT-BASED HEDGE FUND MANAGER IN PONZI SCHEME


Charles C. Slowey, Jr., et al.
04/22/2011 06:03 PM EDT
COURT ENTERS FINAL JUDGMENT AGAINST DEFENDANT GREGORY L. OLDHAM.

Magnum d'Or Resources, Inc.
04/29/2011 09:30 AM EDT

Prevost, Harrold, et al.
04/21/2011 04:58 PM EDT
The Securities and Exchange Commission announced that on April 20, 2011, the United States Attorney, District of Minnesota, obtained indictments against David W. Harrold, age 51, of Del Ray Beach, Florida, and Bruce F. Prevost, age 51, of Palm Beach Gardens, Florida, on four counts of securities fraud for fraudulently marketing investments in hedge funds they managed. Harrold and Prevost are alleged to have invested assets of their hedge funds in notes issued by entities controlled by Minnesota businessman Tom Petters. Petters was in fact operating a multi-billion dollars Ponzi scheme. If convicted, Harrold and Prevost face a potential maximum penalty of five years on each securities fraud count.

Radical Bunny, LLC, Tom Hirsch, Berta Walder, Howard Walder, and Harish Shah
05/02/2011 01:03 PM EDT
SEC WINS SUMMARY JUDGMENT AGAINST FOUR ARIZONA-BASED PROMOTERS IN $197 MILLION MORTGAGE LENDING SCHEME.


Robert Glenn Bard, et al.
04/18/2011 05:03 PM EDT
FEDERAL COURT ENTERS ORDER FINDING ROBERT GLENN BARD IN CONTEMPT.

AIC, Inc., et al.
04/18/2011 10:39 AM EDT
SEC CHARGES FINANCIAL SERVICES FIRM, AIC, INC., ITS CEO AND OTHERS IN MULTI-MILLION DOLLAR OFFERING FRAUD.

mUrgent Corporation, et al.
04/21/2011 05:41 PM EDT
SEC CHARGES SANTA ANA-BASED COMPANY AND THREE EXECUTIVES WITH $10 MILLION BOILER ROOM FRAUD.

William K. Harrison, et al.
04/15/2011 04:51 PM EDT
The Securities and Exchange Commission announced today that the Honorable Frank D. Whitney, United States District Judge for the Western District of North Carolina, entered an order permanently enjoining William K. Harrison.

IU Group, Inc., Elijah Bang (a/k/a Elijah Bhang), and Daniel Lee
04/25/2011 04:12 PM EDT
SEC HALTS FRAUDULENT BEVERLY HILLS HEDGE FUND AND WEALTH MANAGEMENT BUSINESS.

Biovail Corporation, Eugene Melnyk, Brian Crombie, John Miszuk, and Kenneth G. Howling
04/19/2011 04:30 PM EDT
FINAL JUDGMENTS ENTERED AGAINST FORMER BIOVAIL EXECUTIVES EUGENE MELNYK AND BRIAN CROMBIE.

Gianluca Di Nardo, et al.
04/18/2011 05:03 PM EDT
ITALIAN TRADERS AND RELATED ENTITIES AGREE TO PAY $1.46 MILLION TO SETTLE INSIDER TRADING CHARGES.

Joseph F. “Chip” Skowron III, et al.
04/13/2011 03:21 PM EDT
SEC CHARGES FORMER HEDGE FUND PORTFOLIO MANAGER WITH INSIDER TRADING.

William K. Harrison, et al.
04/15/2011 04:51 PM EDT
The Securities and Exchange Commission announced today that the Honorable Frank D. Whitney, United States District Judge for the Western District of North Carolina, entered an order permanently enjoining Eddie W. Sawyers.

Luis Garg, Jason Zakocs, RealFund Investment Trust, First Atlanta LP, Weatherby LP, and Citiprop Corporation
04/08/2011 07:32 PM EDT
SEC Files Civil Injunctive Action Against Alleged Perpetrators of Fraudulent Promissory Note Offerings.

Brian D. Fox
04/11/2011 02:33 PM EDT
SEC Files Civil Charges against Brian D. Fox, Former CEO of Powder River Petroleum International, Inc., for Financial Fraud.

WG Trading Investors, L.P., et al.
04/21/2011 04:37 PM EDT
SEC Announces Initial Distribution of $792 Million to Injured Investors in WG Trading Investment Fraud.

J. Kenneth Stringer III, et al.
04/26/2011 03:50 PM EDT
COURT ENTERS FINAL JUDGMENT AGAINST FLIR SYSTEMS, INC. FORMER CEO.

Duane Martin and Gary Trump
04/20/2011 10:30 AM EDT
COURT ENTERS A FINAL JUDGMENT AGAINST STOCK PROMOTER GARY TRUMP.


Terry M. Phillips
04/21/2011 01:29 PM EDT
Commission Files Settled Charges Against Chairman of SouthPeak Interactive Corporation.

Johnson and Johnson
04/08/2011 11:49 AM EDT
JOHNSON and JOHNSON TO PAY MORE THAN $70 MILLION IN SETTLED FCPA ENFORCEMENT ACTION.


David M. Otto, Todd Van Siclen, et al.
04/22/2011 12:59 PM EDT
JUDGMENT OF PERMANENT INJUNCTION AND OTHER RELIEF ENTERED AGAINST DEFENDANTS DAVID M. OTTO, TODD VAN SICLEN, CHARLES BINGHAM AND WALL STREET PR, INC. AND ORDERS INSTITUTING ADMINISTRATIVE PROCEEDINGS, MAKING FINDINGS AND IMPOSING SANCTIONS AGAINST DAVID M. OTTO AND TODD VAN SICLEN.

East Delta Resources Corp., Victor Sun, David Amsel and Mayer Amsel
04/13/2011 03:21 PM EDT
COURT ENTERS SUMMARY JUDGMENT AGAINST RECIDIVIST MAYER AMSEL AND HIS BROTHER DAVID AMSEL IN MARKET MANIPULATION CASE.

Richard Elkinson
04/15/2011 04:27 PM EDT
Ponzi Schemer Elkinson Pleads Guilty.

Rebecca Lynn Higgins
04/14/2011 04:53 PM EDT
SEC Settles with Former Zale Employee for her Role in Improper Advertising Expense Accounting.

Paul Nicholson and Professional Investment Exchange, Inc.
04/08/2011 05:54 PM EDT
COMMISSION SUES CALIFORNIA BROKER IN CONNECTION WITH $8.2 MILLION OIL-AND-GAS FRAUD.

Inofin, Inc., Michael J. Cuomo, Kevin J. Mann, Sr., Melissa George, Thomas Kevin Keough, David Affeldt, and Nancy Keough
04/14/2011 12:59 PM EDT
SEC CHARGES FORMER HEDGE FUND PORTFOLIO MANAGER WITH INSIDER TRADING.

Perry A. Gruss
04/08/2011 05:20 PM EDT
SEC CHARGES FORMER CFO OF INVESTMENT ADVISER WITH AIDING AND ABETTING FRAUD IN CONNECTION WITH UNAUTHORIZED TRANSFERS OF MORE THAN $870 MILLION IN CLIENT FUNDS.

MAM Wealth Management, LLC, MAMW Real Estate Fund General Partner, LLC, Alex Martinez, and Raphael R. Sanchez
04/07/2011 05:06 PM EDT
SEC CHARGES INVESTMENT ADVISER, FUND MANAGER AND TWO INDIVIDUALS WITH SECURITIES FRAUD INVOLVING CLIENT FUNDS



































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FDIC Consumer News - Spring 2011





The FDIC Issues Consumer Tips On How to “Shop and Save” On Loans, Credit Cards and Deposit Accounts
 
The Federal Deposit Insurance Corporation today issued tips to help consumers shop for a variety of bank products and services by carefully evaluating their needs, contacting multiple institutions and reading the fine print before making a decision.  The advice was published as a special edition of the quarterly FDIC Consumer News (the Spring 2011 issue), which is entitled “Shop and Save...at the Bank:  A Buyer’s Guide to Finding the Right Loan, Credit Card or Deposit Account.”  The FDIC publication includes strategies for choosing a mortgage, credit card, home equity loan, checking account or bank CD (certificate of deposit) that makes sense for the consumer. 
 
The latest issue can be read or printed online at www.fdic.gov/consumers/consumer/news/cnspr11.
 
The FDIC encourages financial institutions, government agencies, consumer organizations, educators, the media and anyone else to help make the tips and information in FDIC Consumer News widely available. The publication may be reprinted in whole or in part without advance permission. Organizations also may link to or mention the FDIC Web site.  See the Web site above for more details.
 
The goal of FDIC Consumer News is to deliver timely, reliable and innovative tips and information about financial matters, free of charge. Current and past issues are online at www.fdic.gov/consumernews. 

CBS NEWS | Coverage of Breaking Space News: Update/CORRECTION: Shuttle Endeavour rockets away on final mission

-- Posted at 09:43 AM EDT, 05/16/11: Shuttle Endeavour rockets away on final mission
-- Updated at 11:25 AM EDT, 05/16/11: Adding post-launch news conference; correcting spacewalk dates, landing time

By WILLIAM HARWOOD
CBS News

KENNEDY SPACE CENTER, FL--Running two weeks late because of an electrical glitch, the repaired shuttle Endeavour finally blasted off and rocketed into orbit for the last time Monday, putting on a spectacular, if brief, show for several hundred thousand spectators expected for NASA's next-to-last shuttle launch.

Carrying a $2 billion particle physics experiment, critical supplies and spare parts bound for the International Space Station, Endeavour's three main engines flashed to life at and throttled up to full power while computers monitored their performance 50 times per second.

Six-and-a-half seconds later, at 8:56:28 a.m. EDT (GMT-4), Endeavour's twin solid-fuel boosters ignited with a rush of 5,000-degree exhaust, instantly pushing the spacecraft away from pad 39A.

Accelerating through 100 mph -- straight up -- in just eight seconds, Endeavour climbed away and quickly disappeared from view as it knifed through low-level clouds, wheeling about to line up on a northeasterly trajectory paralleling the East Coast.

Shuttle commander Mark Kelly's wife, Arizon Rep. Gabrielle Giffords, watched Endeavour's ground-shaking takeoff from the roof of the Launch Control Center 3.4 miles from pad 39A, with her mother, Mark Kelly's twin brother Scott and other family members. Giffords was shot in the head during a January assassination attempt and her recovery has generated intense media interest.

She flew to Florida for Endeavour's initial launch attempt April 29 when the ship was grounded by an electrical problem with the shuttle's hydraulic system. She flew back Sunday for Kelly's second launch try, but privacy screens shielded her from view. A spokeswoman said she was relieved Endeavour got off, saying "good stuff" after the shuttle climbed away.

"I think relief was her biggest feeling," said Pia Carusone, Gifford's chief of staff. "She was very proud. ... It was an exciting moment for her to watch."

The early stages Endeavour's climb to space appeared normal as the shuttle rocketed away atop a churning cloud of exhaust from its solid-fuel boosters. Two minutes and five seconds later, the boosters, their propellant depleted, were jettisoned, falling to the Atlantic Ocean 30 miles below where recovery ships were standing by.

Endeavour continued toward orbit on the power of its three hydrogen-fueled main engines, looking like a brilliant, fast-moving star in the daytime sky as it arced toward the northeast horizon.

A camera mounted on the side of the ship's external tank showed spectacular views of the clouds dropping away below and later, the limb of the Earth behind the accelerating spaceship. No major debris could be seen falling away from the tank during the first two minutes and 15 seconds of flight when the dense lower atmosphere can cause high-velocity impacts with the shuttle's fragile heat shield.

But Bill Gerstenmaier, chief of space operations at NASA headquarters, said engineers spotted two small pieces of foam insulation falling away between two minutes and six seconds into flight and two minutes and 14 seconds. He said neither piece appeared to strike the orbiter, but engineers will carry out a detailed photo assessment as usual.

Endeavour's external tank -- ET-122 -- was damaged when a roof collapsed at the Lockheed Martin Michoud Assembly Facility manufacturing plant in New Orleans. The tank was repaired, but NASA managers said before launch they expected to see more foam than usual break away during launch.

But overall, the tank appeared to perform well and eight-and-a-half minutes after liftoff, Endeavour separated and slipped into its planned preliminary orbit. Scott Kelly gave Giffords and Mark Kelly's two daughters red roses after the shuttle's main engines shut down.

"There were hugs all around, absolutely, it was very celebratory," Carusone said.

Kelly, pilot Gregory Johnson, European Space Agency flight engineer Roberto Vittori and Fincke, veteran of two previous long-duration stays aboard the International Space Station, made the climb to orbit strapped into seats on Endeavour's upper flight deck.

Strapped in on the shuttle's lower deck were Andrew Feustel and Gregory Chamitoff, another station veteran.

If all goes well, Kelly will guide Endeavour to a docking at the space station's forward port around 6:15 a.m. Wednesday. A pallet of spare components will be robotically bolted to left side of the station's power truss a few hours later. The next day, the 7.5-ton Alpha Magnetic Spectrometer, the mission's showcase payload, will be attached to the right side of the power truss.

Using a massive magnet to bend the trajectories of high-energy cosmic rays -- charged particles from supernovas, neutron stars, black holes and other cosmic enigmas -- scientists will look for evidence of antimatter and as-yet-undetected dark matter, believed to make up a quarter of the mass of the universe.

AMS may even find evidence of strange particles made up of quarks in different arrangements than those found on Earth. Or something completely unexpected.

The AMS "really probes the foundations of modern physics," said Sam Ting, a Nobel Laureate who manages the multinational experiment. "But to my collaborators and I, the most exciting objective of AMS is to probe the unknown, to search for phenomena which exist in nature but yet we have not the tools or the imagination to find."

AMS will operate autonomously after it is connected to station power, beaming down a continuous stream of data for at least 10 years and possibly longer if the lab is funded past 2020.

Fincke, Feustel and Chamitoff, working in alternating two-man teams, plan to carry out four spacewalks May 20, 22, 25 and 27 to retrieve one materials science exposure experiment and to install another; to refill the ammonia coolant reservoir in the station's far left-side solar array; to re-lubricate a solar array rotary joint; to install a robot arm attachment fitting on the Russian Zarya module; and to perform needed maintenance.

Endeavour is scheduled to land back at the Kennedy Space Center around 2:32 a.m. on Wednesday, June 1.

"It is an extremely complex mission," said shuttle Program Manager John Shannon. "It's a long period of time docked to the station, four EVAs, a tremendous amount of activity internal to the ISS, we're going to put a world-class experiment on the ISS and get it all hooked up.

"I think the missions we are executing now in complexity are the most difficult missions that not just NASA, but any nation has ever flown in space. And I would include Apollo in that discussion. I think the missions we do right now are more complicated than what we were doing even during the moon landings."

NASA attempted to launch Endeavour April 29, but the countdown was called off when a "string" of fuel line heaters used by one of the shuttle's three hydraulic power units failed to activate.

Engineers were unable to immediately determine what might have caused a short in a power switching box in the shuttle's aft engine compartment. Playing it safe, the box, called an aft load control assembly, was replaced, along with thermostats and associated wiring.

While that work was going on, engineers reviewing data from thermostat tests last June noticed a brief, previously undetected current spike. A close inspection of the thermostat in question revealed damaged insulation and an exposed conductor.

Engineers believe the exposed conductor likely triggered the short that prevented the heaters from powering up April 29. The repaired heater system worked normally during the countdown Monday and there were no obvious problems during the climb to space.

"OK, Mark, it looks like a great day to launch Endeavour for the final time," Launch Director Mike Leinbach radioed Kelly a few minutes before takeoff. "So on behalf of the thousands of proud Americans who have been part of her journey, good luck, God speed and we'll see you back here June 1."

"Thank you sir," Kelly replied. "On this final flight of space shuttle Endeavour, we want to thank the tens of thousands of dedicated employees that have put there hands on this incredible ship and dedicated their lives to the space shuttle program.

"This mission represents the power of teamwork, commitment and exploration, it is in the DNA of our great country to reach for the stars and explore. We must not stop. To all of the millions watching today, including our spouses, children, family and friends, we thank you for your support."

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