Investors lost more than $1 million in former Newtown man’s alleged M&A fraud

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The U.S. Attorney for the District of Connecticut announced Wednesday former Sandy Hook resident Garrett L. Denniston, 62, now of Boothbay Harbor, Maine, was arrested and charged Wednesday with wire fraud. According to the USA’s Office, Denniston allegedly told investors his company, Consensus One LLC. and other similarly named companies, had access to stocks or […] [Read More]

SEC brings charges after Danbury advisor admits to criminal fraud

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Danbury-based investment manager Stephen B. Blankenship has pleaded guilty to mail and securities fraud charges on Wednesday for a scheme that took 8 investors for $500,000, according to the government. Blankenship, 63 of New Fairfield, owned and operated Deer Hill Financial Group. The U.S. Attorney for the District of Connecticut, said Blankenship admitted to the […] [Read More]

NU cuts jobs might have violated state agreement

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Northeast Utilities appears to have violated a settlement it made with the state that allowed it to merge in the wake of its botched storm responses of a year ago. NU and NSTAR of Massachusetts merged officially this year after reaching agreements with the states over the distribution of job cuts and the provision of […] [Read More]

Bankruptcy no refuge for Westport man heading to jail for bank fraud

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The U.S. Attorney for the District of Connecticut said Daniel J. Lyons Jr., 55, of Westport was sentenced to 45 months in prison for defrauding Citizens Bank of nearly $7 million between 2007 and 2008. Lyons, according to the Feds, took out a revolving line of credit for his import/export business, Greenwich Trading Company, which […] [Read More]

Trumbull man gets 3.5 years for a different kind of heist

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The U.S. Attorney for the District of Connecticut announced Tuesday that Trumbull resident Joseph Sarlo, 56, was sentenced to 42 months in prison for bank fraud. Sarlo, the CEO of Branford-based New England Cash Dispensing Systems Inc., and his general manager, each pleaded guilty to the charge before being sentenced. According to court documents, the […] [Read More]

Publishers to pay $69 million for e-book Apple scandal

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Attorney General George Jepsen announced Wednesday three of the five publishers the state is suing for alleged price fixing of e-books with Apple Inc., have settled and agreed to pay $69 million to the states and territories involved in the suite. Connecticut and Texas led the investigation into alleged price fixing of best sellers that […] [Read More]

Greenwich nail salon clipped by feds

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The owner of a Greenwich nail salon has pleaded guilty to structuring payments and violating immigration laws. Jae Hee Yang, 57 of Englewood, N.J., pleaded guilty this week in Federal Court in Hartford to structuring currency transactions and employing an unauthorized alien. In 2009. Yang, owner of Tip top Nails, withdrew $100,000 in 15 cash […] [Read More]

Chase Bank email scam worries Labor Department

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The state Department of Labor issued a warning people collecting unemployment insurance that someone posing as Chase Bank is sending out emails seeking access to accounts. Nancy Steffens, a Labor Department spokeswoman, said the emails are not just limited to UI recipients, but are targeting anything to do with Chase. She said the cyber missives […] [Read More]

Tax filing fudging gets Wilton lawyer two months in fed pen

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The U.S. Attorney for the District of Connecticut said this week that Wilton Attorney Joseph Colbert, 44 will spend two months in prison for filing false tax returns and obstructing an Internal Revenue Service audit. Colbert pleaded guilty in March to the charges. According to the US Attorney, Colbert claimed on 2006, 2007 and 2008 […] [Read More]
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Answering the phone a key to uncovering alleged fraud

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An Old Lyme investment adviser is facing a cease and desist proceed after an investigation by the U.S. Securities and Exchange commission found evidence he was cherry picking trades. Noah L. Myers started MiddleCove Capital LLC in 2008 after an 11 year career with Citigroup Global Trades Inc. According to the SEC, Myers cherry picked […] [Read More]