Texas readers likely recall the scandal over the fraud perpetrated by Enron Corp. executives Kenneth Lay, Jeff Skilling and Andrew Fastow. The company, which had been the seventh-largest corporation in America, experienced skyrocketing stock prices in the early 2000s. However, Enron’s stock prices crashed after the company’s fraudulent accounting methods became public.
Texas readers may not associate mob tactics with Montgomery County criminal defendants. Yet one 84-year-old Texas woman, recently arrested for an alleged immigration scheme, is reported to have paid for a hit to be taken out on the District Attorney assigned to her case. Notably, the woman allegedly arranged the deal from her jail cell.
A Houston man recently agreed to pay almost $60,000 to settle a lawsuit brought by the U.S. Securities and Exchange Commission. The man was accused of buying stock in a company, National Semiconductor, before its $6.5 billion acquisition by Texas Instruments Inc. The man was allegedly tipped off about the deal by his wife, an attorney in the firm which consulted on the deal.
Many in Houston rely on online classified ads to buy and sell basic things like furniture or to advertise for a garage sale. Sites like Craigslist have become popular for their ease of use and because they are free, allowing millions of users to connect with someone locally. However, some activities are riskier than others online, and users could be careful not to engage in any online conduct that could be considered a crime.
It is nearly impossible to turn on the news these days and not hear stories about serious Medicare and Medicaid budget shortfalls. It should come as no surprise, then, to learn that federal law enforcement is engaged in a serious effort to crack down on suspected Medicare and Medicaid fraud.
A Houston-area banker was sentenced to 110 years in prison last week after being convicted on charges related to an alleged years-long investment fraud scheme. Federal investigators say that R. Allen Stanford, the former board chair at Stanford International Bank, led a fraud ring that lasted for approximately 20 years and diverted more $7 billion from the bank to finance his own personal business endeavors.
Late last month, three Houston residents were sentenced to federal prison after pleading guilty to conspiracy to commit wire fraud. The charges stemmed from a three-year-long Texas mortgage fraud scheme.