Hamlet’s philosophy fails New Canaan man facing 10 years for tax evasion

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The U.S. Attorney for the State of Connecticut announced Wednesday, New Canaanite Sherwood Schaub, 70, pleaded guilty to charges of evading taxes for a decade. One of the things Schaub, also known as Andy Sherwood, allegedly did was not pay the IRS taxes he was withholding from employee paychecks. The IRS did catch on and […] [Read More]
Categories: General, Regulatory, Taxes

Derecktor’s New York yard files for bankruptcy

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A little more than a month after its Connecticut yard filed for Chapter 11 Bankruptcy protection, Robert E. Derecktor’s New York shipyard filed a Chapter 11 case of its own on Monday. R.E. Derecktor said it has assets of $50,000 or less and liabilities between $1 million and $10 million. In documents filed in bankruptcy […] [Read More]
Categories: Economy, General
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GE announces $100 million Arizona solar investment

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GE continues to bet big on solar. GE said Wednesday it’s latest solar power deal is a $100 million investment in a 127-megawatt project that will be built in Arizona. GE Energy Financial Services announced at the Infocast Solar Power Finance & Investment Summit in San Diego that its one-gigawatt portfolio spans 48 solar power […] [Read More]
Categories: GE, General

Shelton resident pleads guilty to $300,000 securities fraud

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The U.S. Attorney’s office for the State of Connecticut said John H. Goldsmith, 57 of Shelton, pleaded guilty Monday in federal court to one count of securities fraud involving a $300,000 investment fraud scheme. Goldsmith was arrested in December and was facing charges on two counts of fraud. He initially pleaded not guilty but changed […] [Read More]
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People’s buys 56 Citizen’s branches for $3.25 million

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People’s United agreed to buy the branches from the RBS-owned bank in an all cash transaction. The branches are  in Long Island and New York City as well as certain locations in New York state’s Westchester, Rockland, Putnam, Orange, Dutchess and Ulster Counties. The sale includes 52 Stop & Shop branches in New York. Bridgeport-based […] [Read More]
Categories: General

Feds say former Latex CEO embezzled $1.7 M

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The U.S.Attorney for Connecticut said Monday that Kevin Coleman, former CEO of mattress maker Latex International, pleaded guilty to charges of embezzlement and tax evasion. Coleman worked for the Shelton-based company from 2005 to 2010 as CEO. He and a former HR director, who has also pleaded guilty, allegedly took a total of $3.4 million […] [Read More]
Categories: General, Main Street
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Aquarion makes a $38 million deal

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Aquarion Water Co. has cut a deal to buy United Water’s regulated business for $38 million. The deal is expected to close in the third quarter. [Read More]
Categories: General, Main Street

GE Foundation library grants intercepted by alleged embezzler

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The Boston Globe revealed an alleged embezzler at a Mass. library intercepted $450,000 of GE Foundation matching grant donations. It’s a sad story about betrayal of trust at a library where retired GE workers were sending donations. In all the library worker is accused to taking $800,000. Imagine all the good a library could do […] [Read More]
Categories: General

IRS says Connecticut residents owed $14 million from 2008

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The Internal Revenue Service said Thursday it has about $14 million in tax refunds from tax returns that were never filed in 2008 and time is running out for collecting it. People owed money from 2008 have until April 17 of this year to file for that money. If they don’t, Uncle Same keeps it. […] [Read More]
Categories: General, Taxes
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Tangoe dances into Europe with ttMobiles acquisition

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Orange-based Tangoe Inc. announced Thursday  it has acquired U.K.-based ttMobiles for an undisclosed amount, moving the Connecticut company solidly into the European market. This is Tangoe’s third acquisition since going public in the summer of last year and while it is not its first foray into the international market, the deal gives it a solid […] [Read More]
Categories: General, Wall Street
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