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Restitution

All articles tagged with #restitution

Lawsuits Challenge Nazi‑Looted Art at Norton Simon and Auschwitz as Heirs Gain Legal Muscle
law20 days ago

Lawsuits Challenge Nazi‑Looted Art at Norton Simon and Auschwitz as Heirs Gain Legal Muscle

Two California lawsuits target Nazi‑looted artworks still on display: the Norton Simon Museum in Pasadena is faced with returning Lucas Cranach the Elder’s Adam and Eve, and Gottliebova Babbitt heirs seek the return of watercolors she painted in Auschwitz under orders from Mengele. The actions come after California’s AB 2867 and the federal Holocaust Expropriated Art Recovery Act of 2025, which expand heirs’ ability to pursue recovery in court. Museums insist they hold valid title and will keep the works on view, while advocates say recovering the art could fund support for Holocaust survivors; Auschwitz Memorial contends the watercolors are essential historical documents and should remain. The cases will test how new laws affect ownership disputes over Nazi‑looted art.

via NBC News|
#california-law#holocaust#law
Ponzi schemer’s marriage bid to dodge deportation ends in 11-year prison term
crime21 days ago

Ponzi schemer’s marriage bid to dodge deportation ends in 11-year prison term

Undocumented Indian immigrant Siddharth Jawahar, who ran a multi‑million‑dollar Ponzi scheme that targeted investors including NFL star Travis Kelce, sought to marry a U.S. citizen to avoid deportation after a sentence of 11 years and about $31 million in restitution; prosecutors described the marriage plan as an immigration strategy, and Jawahar also pursued other attempts to influence the outcome, including lobbying and media efforts, while the case covered 2016–2023.

via NBC News|
#crime#deportation#immigration
Kelce Named Among Victims in Multimillion-Dollar Ponzi Scheme
business23 days ago

Kelce Named Among Victims in Multimillion-Dollar Ponzi Scheme

Travis Kelce was identified as a victim in Siddharth Jawahar’s alleged multimillion-dollar Ponzi scheme run through Swiftarc Capital LLC. Jawahar, 38, was sentenced to 11 years in federal prison and ordered to repay about $31 million to investors defrauded between 2016 and 2023. Prosecutors say he used funds from new investors to pay earlier ones and to fuel an extravagant lifestyle, including private jets and luxury travel. Kelce’s exact involvement was not detailed, and representatives did not comment.

via NBC News|
#business#ponzi-scheme#restitution
US struggles to help scam victims recover funds, study finds
business1 month ago

US struggles to help scam victims recover funds, study finds

An AP/FRONTLINE investigation finds the United States lacks a coordinated national strategy to reimburse scam victims, leaving many with ongoing losses, tax bills on stolen funds, and little chance of recovery. While scam losses run into tens of billions annually and crypto crimes rise, other countries (UK, EU, Australia, Singapore) increasingly require reimbursements or stronger protections, and U.S. efforts—Congress proposals, DOJ strike forces, and agency actions—have yet to deliver a cohesive, adequately funded solution. Victims describe feeling abandoned by police and banks, with only a few cases of partial recovery, underscoring a broad gap between the scale of the problem and U.S. policy response.

via AP News|
#business#regulation#restitution
Atlanta CEO jailed for Georgia's largest Ponzi scheme
law-and-crime1 month ago

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
Delaware Judge Keeps JPMorgan on the Hook for Charlie Javice’s Legal Fees
business3 months ago

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
Bear-Suit Insurance Scam Lands Three in Jail in California
crime5 months ago

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
Ivory Coast Reclaims Sacred Talking Drum Looted in Colonial Rule
world7 months ago

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
Epstein Estate Trust Names Girlfriend and Inner Circle as Heirs
business8 months ago

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
Financial Adviser Ordered to Pay $37 Million Restitution for Bank Swindling
labor-and-growth9 months ago

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
Archegos Founder Hwang Claims Inability to Pay $10 Billion Restitution
business1 year ago

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