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Fraud

LOCAL
By Joseph Serna | December 15, 2009
A federal judge Tuesday threw out the government’s case against Newport Beach resident and former Broadcom executive William Ruehle, scolding the prosecutors for their “shameful” conduct that tainted justice. U.S. District Court Judge Cormac J. Carney dismissed the Securities and Exchange Commission’s case against Ruehle, 67, the company’s former chief financial officer, and Henry T. Nicholas III, Broadcom’s former chief executive. Both were accused of lying to the government about backdating stock options for employees.
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LOCAL
By Joseph Serna | December 15, 2009
A Newport Beach woman is scheduled to be arraigned today on a dozen charges that she is the mastermind of a mortgage fraud scheme that ripped banks off of more than $3.6 million. Mailan Thu Tran, 45, of Newport Coast, is charged with 11 counts of grand theft and one count of conspiracy to commit grand theft with sentencing enhancements for the crimes of making banks lose more than $2.5 million. She faces up to 14 years and eight months in prison if convicted on all charges.
LOCAL
By Joseph Serna | December 9, 2009
Offering stock options that couldn’t be cashed in for two or three years was key to retaining employees with the Broadcom business in its first years, Broadcom co-founder Henry Samueli testified Tuesday during the fraud trial of the company’s chief financial officer. “It was a wonderful retention tool,” Samueli, a Newport Beach billionaire, testified during William Ruehle’s trial. Samueli testified in Ruehle’s defense that he came highly recommended as a potential hire by every Wall Street banker he talked to, and was widely known as a man of unshakable integrity.
NEWS
By Joseph Serna | December 8, 2009
Offering stock options that couldn’t be cashed in for two or three years was key to retaining employees with the Broadcom business in its first years, Broadcom co-founder Henry Samueli testified Tuesday during the fraud trial of the company’s chief financial officer. “It was a wonderful retention tool,” Samueli, a Newport Beach billionaire, testified on Tuesday during William Ruehle’s trial. Samueli testified in Ruehle’s defense that he came highly recommended as a potential hire by every Wall Street banker he talked to, and was widely known as a man of unshakable integrity.
LOCAL
November 20, 2009
A Newport Beach woman pleaded not guilty Friday to stealing nearly a quarter-million dollars from a local hair salon. Bethany Jane Brady, 43, faces charges of grand theft, computer fraud and money laundering, among others, after police said she stole more than $245,000 from Hampton Salon in Newport Beach. Prosecutors said Brady was the salon’s bookkeeper for more than 15 years, and in the last three, began siphoning money for her personal expenses. Brady worked for an accounting firm and oversaw the Hampton Salon account.
LOCAL
November 2, 2009
A Newport Beach woman charged with stealing nearly $250,000 from a local salon remained jailed Monday, as she delayed her arraignment until the end of the month. Bethany Jane Brady, 43, is charged with four felonies including grand theft, identity theft and computer fraud for allegedly bilking Newport Beach’s Hampton Salon out of $245,000. Prosecutors said between October 2006 and August 2009 she used the salon’s bank account to pay her utility bills and credit card debt.
LOCAL
By Candice Baker | October 7, 2009
A Huntington Beach woman, who turned herself in to authorities Monday, on Tuesday denied authorities’ accusations that she bilked clients out of thousands of dollars in an alleged mortgage-adjustment fraud through her Costa Mesa business. “I feel that the police did not listen to my clients who had successful loan modifications completed. I feel my side of the story needs to be heard,” Vickie Khanhvi Dang, 28, said in a statement. “We have testimonials from dozens of grateful clients to support our work,” she added.
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