Financial
Vegas mortgage fraud scheme mastermind sentenced PDF  | Print |  E-mail
Written by Associated Press   
Sunday, 22 December 2013 07:56

LAS VEGAS (AP) — The mastermind of a Las Vegas mortgage fraud scheme has been sentenced to just over 11 years in prison.

U.S. District Judge Gloria Navarro handed down the sentence Wednesday to 60-year-old Lloyd Gardley, who pleaded guilty in August to conspiracy and fraud charges.

Gardley was ordered to serve five years of supervised release following his prison term and to pay over $1.4 million in restitution.

U.S. Attorney for Nevada Daniel Bogden says Gardley was considered to the leader of a scheme that caused about $15 million in losses to lenders and financial institutions.

Read more...
 
Businessman, Jewish advocate Bronfman dies PDF  | Print |  E-mail
Written by Associated Press   
Sunday, 22 December 2013 07:31

NEW YORK (AP) — Edgar M. Bronfman Sr., the billionaire businessman and longtime president of the World Jewish Congress, which lobbied the Soviets to allow Jews to emigrate and helped spearhead the search for hidden Nazi loot, died Saturday. He was 84.

The Canadian-born Bronfman died at his New York home surrounded by family, according to the family charity he led, The Samuel Bronfman Foundation.

Bronfman made his fortune with his family's Seagram's liquor empire, taking over as chairman and CEO in 1971 and continuing the work of his father, Samuel. Under Bronfman's leadership, Seagram expanded its offerings and was eventually acquired by French media and telecom group Vivendi Universal in 2000.

Read more...
 
Bangladesh factory owners charged in deadly fire PDF  | Print |  E-mail
Written by JULHAS ALAM, Associated Press   
Sunday, 22 December 2013 07:55

DHAKA, Bangladesh (AP) — Police charged the owners of a Bangladeshi garment factory and 11 employees with culpable homicide Sunday for alleged negligence leading to the death of 112 workers in a raging fire that engulfed the factory last year.

It was the first time Bangladeshi authorities had sought to prosecute factory owners in the world's second-largest garment industry. A series of recent deadly disasters — including the Nov. 24, 2012, fire and a factory collapse in April that killed more than 1,100 workers — exposed how harsh and often unsafe conditions can be for many of the country's 4 million workers providing clothing to major Western retailers.

Public Prosecutor Anwarul Kabir Babul said the 13 people charged Sunday could face life in prison if convicted of failing to ensure safety at the sprawling Tazreen Fashions Ltd. factory, located outside Dhaka, the capital.

Read more...
 
Ally paying $98M to resolve U.S. auto-loan claims PDF  | Print |  E-mail
Written by MARCY GORDON, AP Business Writer   
Saturday, 21 December 2013 08:02

WASHINGTON (AP) — Ally Financial Inc. is paying $98 million to resolve U.S. government claims that minority borrowers were charged higher rates on its auto loans than whites with similar credit histories.

The agreement announced Friday by the Justice Department and the Consumer Financial Protection Bureau is the government's biggest auto-loan discrimination settlement to date.

Ally is paying $80 million in damages to about 235,000 African-American, Hispanic and Asian and Pacific Islander borrowers, and $18 million in penalties. The higher rates were charged on auto loans between April 2011 and December 2013, according to the government.

Detroit-based Ally is one of the largest indirect auto lenders in the U.S. Ally doesn't make auto loans directly to consumers; it buys the loan contracts made by auto dealers. Ally sets an interest rate for the loans and allows dealers to charge customers a higher rate, or dealer markup.

Read more...
 
<< Start < Prev 201 202 203 204 205 206 207 208 209 210 Next > End >>

Page 201 of 226