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Posts tagged "criminal penalties"

Will only small fish fry for the 'London Whale' fraud?

The “London Whale” is a nickname for a trader for JPMorgan Chase & Co.’s Chief Investment Office in London who was known for his enormous wagers on credit derivatives. The London Whale refers to allegations that certain people at the London office improperly valued those derivatives in an effort to hide the full extent of the bank’s losses from investors and regulators -- losses now estimated at $6 billion.

Juvenile felony life sentences ruled unconstitutional in Iowa

Last year, the U.S. Supreme Court ruled in Miller v. Alabama that mandatory sentences of life without the possibility of parole are unconstitutional for juvenile offenders. That was a challenge for Iowa, which had until then required that anyone convicted of first-degree murder -- juvenile or adult -- be given that sentence. In response to the ruling, Governor Terry Branstad immediately used his commutation power to change the sentences of 38 such juvenile offenders to allow parole -- but only after they had served 60 years behind bars.

How noteworthy is the SAC Capital Advisors securities fraud case?

Since the U.S. Department of Justice filed charges of “rampant insider trading” against SAC Capital Advisors and three of its subsidiary hedge funds last week, the financial media has been flooded with stories about the case. Announcing securities and wire fraud charges against the companies themselves as well as against individuals working there, the U.S. Attorney’s Office said the alleged criminal activity was “substantial, pervasive and on a scale without known precedent in the history of hedge funds.”

Lawmakers consider revising drunk driving laws

Iowa City readers know that college graduation parties are an annual occurrence in May, given the proximity of The University of Iowa. Other graduates of technical schools and other post-secondary training programs may also have course completions to celebrate. For other local residents, the beautiful spring weather may be reason enough to enjoy evening cocktails on an outdoor patio.

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