Tag

Restitution

All articles tagged with #restitution

law-and-crime11 days ago•5 min saved

Atlanta CEO jailed for Georgia's largest Ponzi scheme

Todd Burkhalter, founder and CEO of Drive Planning in Atlanta, was sentenced to 20 years in prison for running what prosecutors call Georgia's largest Ponzi scheme, defrauding more than 2,000 investors of about $400 million from 2020 to 2024; funds financed an extravagant lifestyle, including a $2 million yacht and a $2.1 million Cabo San Lucas condo, with restitution exceeding $230 million; two other Drive Planning executives were also sentenced.

via upi.com|

#fraud #georgia #investors

business1 month ago•7 min saved

Delaware Judge Keeps JPMorgan on the Hook for Charlie Javice’s Legal Fees

A Delaware judge ruled that JPMorgan Chase must continue paying Charlie Javice’s legal fees during ongoing litigation, despite the bank’s objections to the rising costs. Javice, founder of the fintech Frank, was convicted of defrauding JPMorgan by inflating data to secure a $175 million acquisition and, with co-defendant Olivier Amar, ordered to pay $288 million in restitution. She remains imprisoned for seven years and is free on bail pending appeals, while JPMorgan and Javice’s team dispute the scope of fee coverage under their contract.

via Business Insider|

#business #charlie-javice #frank

courtslegal1 month ago•3 min saved

Exiled Chinese tycoon Guo Wengui jailed 30 years for global fraud

Chinese billionaire Guo Wengui, a critic of the CCP who fled to the US, was sentenced in Manhattan to 30 years in federal prison after being found guilty of securities fraud, wire fraud and money laundering, with prosecutors saying the scheme harmed more than 1,000 victims worldwide and $889 million in restitution was ordered.

via Al Jazeera|

#30-year-sentence #courtslegal #fraud

world2 months ago•38 min saved

Birkin-bag auction by jailed billionaire won't fully repay victims

A jailed billionaire is putting her Birkin bag collection up for auction to fund restitution to victims, but the expected proceeds are unlikely to cover the full amount owed, highlighting the limited reach of asset sales in restitution efforts.

via Yahoo|

#asset-liquidation #birkin-bags #fraud-case

crime4 months ago•1 min saved

Bear-Suit Insurance Scam Lands Three in Jail in California

Three Los Angeles residents were sentenced to 180 days in jail for an elaborate auto-insurance fraud in which a person dressed as a bear attacked luxury cars—including a Rolls-Royce Ghost—supported by video that investigators later proved showed a human in the suit. A fourth suspect, Ararat Chirkinian, awaits a September preliminary hearing. Zuckerman and Tamrazian were ordered to pay about $52,000 each in restitution, while Muradkhanyan's restitution amount has not yet been determined.

via The Guardian|

#bear-costume #california-department-of-insurance #crime

world5 months ago•3 min saved

Ivory Coast Reclaims Sacred Talking Drum Looted in Colonial Rule

Ivory Coast welcomed back the sacred talking drum Djidji Ayôkwé, looted by French colonial authorities in 1916 and taken to France in 1929, arriving on a chartered plane and due to be displayed at Abidjan’s national museum as part of France’s broader restitution of colonial-era artefacts (Ivory Coast is pursuing 148 works). The handover follows French legislation aimed at easing returns of looted objects and marks a historic moment for Ebrié heritage.

via BBC|

#djidji-ayokwe #france #ivory-coast

business6 months ago•4 min saved

Epstein Estate Trust Names Girlfriend and Inner Circle as Heirs

Jeffrey Epstein’s late-1953 Trust, disclosed in DOJ files, earmarks about $100 million for his girlfriend Karyna Shuliak (including a $50 million annuity) and assigns $50 million to his lawyer Darren Indyke and $25 million to his in-house accountant Richard Kahn; other named beneficiaries include Epstein’s brother Mark Epstein, Ghislaine Maxwell, and Harvard professor Martin Nowak among roughly 40 potential heirs. The estate’s value has fallen from about $600 million to roughly $120 million after taxes, legal fees, and settlements, while a victim-restitution fund has already paid out more than $121 million, with no provision for abuse victims in the trust.

via The New York Times|

#beneficiaries #business #epstein

labor-and-growth7 months ago•4 min saved

Financial Adviser Ordered to Pay $37 Million Restitution for Bank Swindling

Jesse Hill, a financial adviser involved in a $45 million bank fraud scheme with Aaron Marshbanks, has been ordered to pay over $37 million in restitution, though full repayment is unlikely due to limited assets and income. The scam, possibly Nebraska's largest bank fraud case, involved falsified collateral documents to secure fraudulent loans used for personal luxury and covering investment losses. Hill is serving a five-year prison sentence, and assets including property and a plane are expected to be sold to satisfy the debt.

via Nebraska Examiner|

#aaron-marshbanks #bank-fraud #jesse-hill

world9 months ago•5 min saved

Louvre Jewel Heist Sparks Security Concerns and Colonial Reflection

The theft of the Louvre's crown jewels has reignited debates over the colonial origins of such treasures, highlighting the complex and often exploitative histories behind their acquisition, and prompting calls for greater transparency and restitution efforts by Western museums.

via AP News|

#colonial-history #cultural-heritage #louvre

history10 months ago•10 min saved

Uncovering Hidden Family Secrets and Lost Legacies from the Nazi Era

A man discovers a suitcase containing his family's hidden Jewish past, revealing a once-wealthy German family's assets stolen by the Nazis, and embarks on a decade-long journey to trace and reclaim their lost heritage and property.

via BBC|

#family-fortune #history #holocaust

business1 year ago•3 min saved

Archegos Founder Hwang Claims Inability to Pay $10 Billion Restitution

Bill Hwang, founder of Archegos Capital, claims he cannot pay the nearly $10 billion in restitution sought by prosecutors due to his reduced net worth of $55.3 million. Hwang's legal team argues that the restitution demand is unjustified and suggests that Wall Street banks seek compensation from the U.S. government, which is also pursuing a $12.4 billion forfeiture. Hwang, convicted of fraud, faces a potential 21-year prison sentence for deceiving banks and causing significant financial losses.

via Fortune|

#archegos #bill-hwang #business

crime2 years ago•2 min saved

"Chiefsaholic Ordered to Pay $10.8M to Bank Teller in Robbery Case"

Xaviar Michael Bubudar, a Kansas City Chiefs superfan known as "ChiefsAholic," has been ordered to pay $10.8 million to a bank teller he assaulted during a robbery, with $3.6 million for her injuries and loss of income and $7.2 million in punitive damages. Although it may be difficult for the teller to collect the money, the judgment sends a message. Bubudar, who pleaded guilty to a series of bank robberies, remains imprisoned and must pay at least $532,675 in restitution, forfeit property, and faces formal sentencing in July.

via NBC News|

#bank-robbery #crime #kansas-city-chiefs

crime2 years ago•2 min saved

"ChiefsAholic Ordered to Pay $10.8M to Bank Teller After Robbery"

Xaviar Michael Bubudar, a Kansas City Chiefs superfan known as "ChiefsAholic," has been ordered by an Oklahoma judge to pay $10.8 million to a bank teller he assaulted during a robbery, with $3.6 million for her injuries and loss of income and $7.2 million in punitive damages. Although it may be difficult for the teller to collect the money, the judgment sends a strong message. Bubudar, who pleaded guilty to a series of bank robberies, is set for formal sentencing in July and must pay at least $532,675 in restitution as part of the plea agreement.

via New York Post |

#bank-robbery #crime #kansas-city-chiefs

crime2 years ago•2 min saved

"ChiefsAholic Ordered to Pay $10.8M to Bank Teller by Oklahoma Judge"

Xaviar Michael Bubudar, a Kansas City Chiefs superfan known as "ChiefsAholic," has been ordered by an Oklahoma judge to pay $10.8 million to a bank teller he assaulted during a robbery. The teller, Payton Garcia, alleged that Bubudar used a gun to assault her during a robbery of a credit union in December 2022. Although it may be difficult for Garcia to collect the money, the judgment sends an important message, according to her attorney. Bubudar pleaded guilty to a series of bank robberies and remains imprisoned until his formal sentencing in July.

via Yahoo! Voices|

#bank-robbery #crime #kansas-city-chiefs

crime-and-justice2 years ago•2 min saved

"Chiefsaholic Ordered to Pay $10.8M to Ex-Bank Teller in Robbery Case"

Xaviar Babudar, also known as Chiefsaholic, has been ordered to pay $10.8 million to a former bank teller he threatened during a series of bank robberies. The judge's ruling includes $3.6 million for physical harm and emotional distress, as well as $7.2 million in punitive damages. Babudar, who gained social media fame as @Chiefsaholic, admitted to stealing over $800,000 in 11 robberies and laundering the proceeds through casinos. Despite the challenge of collecting the money, the judge's decision aims to prevent Babudar from profiting from his crimes, as he faces sentencing in July and is currently serving time in federal prison.

via ESPN|

#bank-robbery #chiefsaholic #crime-and-justice