Another reminder of how corruption rippled through the investment sector on the wings of easy credit and predatory. Last Friday, the U.S. Securities and Exchange Commission reported a federal judge found that the marketing of mortgage-backed securities to conservative investors was an act of fraud and the CEO was ordered to pay a $10 million Read More
The Pentagon said Thursday it is awarding Lex products another order for mobile generator system parts valued at $8.1 million. The company is to deliver the compnenents in January 2013. This is a continuation of a previous contract Lex has with the Navy.
Federal Reserve Board Governor Sarah Bloom Raskin was in Westport Thursday speaking to the Y’s Men group, a fellowship of 375 mostly retirees. It was almost an hour long presentation with questions and more will follow in an upcoming article in the business pages. While noting critics are right that savers, those who put their Read More
Sarah Bloom Raskin is scheduled to speak in 7 minutes in Westport during a meeting of the Y’s Men. Raskin has family in Westport. We will be tweeting highlights from her talk on twitter.com/financialmines
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
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
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
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