Jury finds ex-San Francisco bank executive guilty of fraud
Legal Events
A former executive of a San Francisco-based bank that received federal bailout money has been convicted of fraud.
U.S. Attorney Melinda Haag said Thursday a federal jury in Oakland found 66-year-old Ebrahim Shabudin guilty of conspiring with others within the bank to falsify key bank records as part of a scheme to conceal millions of dollars in losses and falsely inflate the bank's financial statements.
Shabudin was Chief Operating Officer for United Commercial Bank between 2008 and 2009.
United Commercial Bank received $298 million from the Troubled Asset Relief Program, or TARP, in 2008 during the height of the nation's financial crisis. That money was lost when the bank was seized by regulators, shuttered and filed for bankruptcy the following year. Shabudin faces up to 25 years in prison.
Related listings
-
Texas abortion clinic to reopen after court ruling
Legal Events 09/04/2014Women in South Texas facing a 200-mile drive for access to legal abortions learned Wednesday that a local clinic shuttered by a sweeping anti-abortion law would reopen, marking the first tangible effect of a court ruling last week that blocked key pa...
-
Apple wins EU court case on store design trademark
Legal Events 07/11/2014The European Union's highest court says Apple's characteristic retail store layout may be registered as a trademark. The Court of Justice on Thursday overturned a decision by German patent authorities which last year rejected an application to grant ...
-
SC Supreme Court hears appeal in fatal dog attack
Legal Events 04/15/2014Prosecutors want South Carolina's highest court to reinstate the conviction of a Dillon County man whose dogs attacked and killed a 10-year-old boy in 2006. The state Supreme Court on Tuesday hears an appeal in the case of Bentley Collins. In 2012, t...
Experienced Business Law Attorneys - Business Law Attorneys in Chicago, Illinois
U.S. Citizenship and Immigration Services (USCIS) announced today that it is clarifying policy guidance (PDF, 71 KB) on the specific work activities its officers should consider when determining whether an individual qualifies for TN nonimmigrant status as an economist.
Companies of all sizes have to deal with a lot of bureaucracy and paperwork just to do business. Long gone are the days of simply designing and manufacturing a great product and putting it out there. It can be incredibly overwhelming trying to do business without making yourself vulnerable to a lawsuit.
If you need to craft an agreement between you and investors or business partners, it is prudent to have it reviewed by a business attorney before you sign anything. You may also want to have your vendor contracts, office leases, sales agreements, and other types of agreements looked over as well. From start-ups to established corporations, the Chicago business attorneys at the Roth Law Group have the know-how to help businesses keep legal trouble at bay.
The attorneys at the Roth Law Group have helped their clients at every stage of the business creation and operation process. From registering as a legally-recognized business entity to hiring employees and then copywriting or trademarking a product idea, the right guidance in the beginning can keep you out of trouble later on.