Everyone has heard of insider trading, but what is it really? Essentially, as an “insider,” you are not allowed to make beneficial trades unfairly. To prove insider trading, the federal government must show that the information was embargoed or confidential prior to the execution of the trade. In this case,…
In a case filed against a foreign national who had never set foot in Chicago (or the United States for that matter), a Ukrainian industrialist is facing charges related to a conspiracy to bribe an Indian official. Unfortunately, the bribe never happened and the deal fell apart. However, that has…
A Trump associate was convicted in Manhattan after he enabled Paul Manafort to get $16 million in loans in exchange for an interview for a job with the Trump Administration. Stephen Calk was convicted of financial institution bribery and conspiracy. Calk insisted that he had broken no law nor done…
While The Donald himself is not facing charges related to what authorities call an “audacious” tax fraud scheme, his company and his Chief Financial Officer are facing accusations that they failed to report over $1.7 million in earnings. It is unclear whether or not Trump will be charged, but investigators…
Chicago Alderman Carrie Austin and her chief of staff are facing federal criminal charges alleging bribery. According to the charges, Austin brokered a deal for a multi-unit real estate development contract. Federal authorities believe that the developer offered Austin home improvements to grease her wheels. Her chief of staff was…
More defendants have been added to an ongoing prosecution in which several key stakeholders managed to tank a Chicago bank by embezzling millions in funds. The Washington Federal Bank for Savings failed in 2017 after the Office of the Comptroller determined that the bank was insolvent. Four new defendants have…
A Chicago-area businessman has been indicted on federal charges for making fraudulent claims to the government in order to bilk COVID relief money from the fund. Carlos Smith, 56, of Park Forest, Illinois is charged with fraudulently obtaining $420,000 in small business loans from the Paycheck Protection Program (PPP) and…
This is America, where everyone has a job and everyone has a dream. The idea is to work the job until you can make the dream come true. That happened for one Illinois woman, but federal prosecutors say that the money she used to fund her dream was embezzled from…
Chicago rapper G Herbo has been charged in Massachusetts for using stolen identities to make illegal purchases. Purchases included trips on personal jets and designer puppies, according to the complaint. While rappers are not known for their white-collar prosecutions, identity theft is a major business in the criminal underworld. The…
The son-in-law of Joseph Barrios has pled not guilty to federal bribery charges in October. 41-year-old James Weiss is accused of bribing a state representative and senator for legislation that would benefit gaming and gambling operations in Cook County. Weiss will face eight counts of bribery, fraud, mail fraud, and…