McDermott jailed for insider trading

Article Abstract:

James McDermott, the former CEO of investment bank Keefe Bruyette and Woods, was convicted of giving confidential stock tips to his porn star mistress. McDermott was found guilty of passing along inside information about possible bank mergers to Kathryn Gannon, who was using the stage name Marilyn Star on x-rated films. Gannon then shared the information with another lover, Anthony Pompino, and both made $170,000 in illegal profits. McDermott would spend 27 months in prison, pay a fine of $25,000, and serve 300 hours of community service.

Investment Banking and Securities Dealing, Investment Banking, Investment banks, Keefe, Bruyette & Woods Inc.

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Trendy shoe designer indicted

Article Abstract:

Trendy shoe designer Steve Madden has been indicted on 17 counts of stock fraud and conspiracy. The owner of Steve Madden Ltd has been accused of conspiring with two brokerage firms in New York, NY, control the share price of at least 22 companies illegally. The trading of Steve Madden shares was stopped on Jun 20, 2000, which resulted to a drop in share prices by 15% to $11.19. madden has been released on a bond of $750,000.

Other Footwear Manufacturing, Nonrubber Footwear, Steve Madden Ltd.

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Republic to pay $606M in Ponzi scam

Article Abstract:

Republic New York Securities Corp. found guilty of securites fraud. A U.S. District Court found the company bilked Japanese companies out of $700 million and was ordered to repay the money.

United States, Japan, Police Protection, Fraud, Security and Commodity Services, Securities & Commodities Services, Securities, Commodity Contracts, and Other Financial Investments and Related Activities, Securities industry, Company Profile, Republic New York Securities Corp.

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