David B Caruso

May 11, 2010 | Daily Report Online

NEW YORK AP - New York's attorney general sued a hedge fund management firm and two of its former executives Tuesday, claiming they discovered a decade ago that Bernard Madoff wasn't being truthful about his investment methods, but kept their suspicions quiet.Ivy Asset Management customers, which included several union pension funds, wound up losing $227 million when the scheme collapsed, according to the suit.

By DAVID B. CARUSO

4 minute read

May 15, 2008 | Daily Report Online

By DAVID B. CARUSO

3 minute read

May 08, 2008 | Daily Report Online

By TOM HAYS and DAVID B. CARUSO

4 minute read

November 25, 2009 | Daily Report Online

NEW YORK AP - One of New York City's most visible homeless charities is a sham, according to the state's attorney general.Since the late 1980s, tourist-packed areas in midtown Manhattan have been peppered with large plastic jugs set up on card tables to collect money for a group called the United Homeless Organization.

By DAVID B. CARUSO

2 minute read

January 15, 2009 | Daily Report Online

NEW YORK AP - New York Attorney General Andrew Cuomo is investigating whether a hedge fund operator who lost big in the Bernard Madoff scandal misled schools and charities about how he invested their money.A person familiar with the probe said authorities have subpoenaed records from three investment funds run by J. Ezra Merkin, who stepped down last week as chairman of GMAC Financial Services LLC, the financing arm of General Motors Corp.

By DAVID B. CARUSO

2 minute read

August 03, 2006 | National Law Journal

For the second time in a year, a law firm representing Michael Jackson has quit, saying it hasn't been paid and can't get the pop star on the phone.

By David B. Caruso

3 minute read

October 14, 2009 | Daily Report Online

NEW YORK AP - Two former Bear Stearns hedge fund managers went on trial Wednesday in one of the few criminal cases brought against Wall Street executives in connection with the housing market collapse.Ralph Cioffi and Matthew Tannin face charges that they misled clients about the grim outlook for investments in subprime mortgages as the market soured in 2007.

By DAVID B. CARUSO

4 minute read

October 02, 2008 | Daily Report Online

NEW YORK AP-Mayor Michael Bloomberg is almost certain to face a legal challenge if he tries to alter the city's term-limits law and seek four more years in office.Several lawyers and government watchdog groups said Wednesday they are mulling legal action to block any changes without the approval of voters, who passed a two-term cap by referendum in 1993.

By DAVID B. CARUSO

4 minute read

June 25, 2002 | Law.com

Eight people have been charged in a scam to bilk Philadelphia's Temple University out of $76,000 after allegedly posing as part-time students to take advantage of a prompt tuition refund policy. Prosecutors say the alleged fraud proved so successful at Temple, the suspects allegedly began to use same ruse at the University of Maryland and the DeVry Institute of Technology in Decatur, Ga.

By David B. Caruso

2 minute read

June 27, 2007 | Daily Report Online

NEW YORK AP - Adelphia cable TV company founder John Rigas and his son, Timothy J. Rigas, were ordered Wednesday to report to prison on Aug. 13 for their fraud convictions.In May, the 2nd U.S. Circuit Court of Appeals in Manhattan upheld the convictions of the 82-year-old Rigas and his son on charges of securities fraud, conspiracy to commit bank fraud and bank fraud.

By David B. Caruso

2 minute read