Financial crimes

The archdiocese allegedly backed away from repeated promises bond parties would be paid in full, they said.

Randy Miller, 70, and Chad Miller, 41, entered guilty pleas Wednesday in the Legacy Cares securities fraud case and will be sentenced at a later date.

The SEC and DOJ announced charges in connection with municipal bonds issued for the Legacy Cares sports complex in Arizona, which defaulted and went bankrupt.

Ex-IFS Securities head of fixed income Keith Wakefield committed criminal securities and wire fraud from 2017 to 2019, a federal jury in Illinois found.

Anthony Michael Holland has also been ordered to pay almost $1.2 million in restitution.

The SEC’s Public Finance Abuse Unit has brought four enforcement cases against municipal issuers this year, which signals a shift from the usual focus on underwriters and municipal advisors.

Scammers are masquerading as the IRS’ Tax Exempt and Government Entities Division to try and get issuers and borrowers to disclose confidential information.

It's the third time this month that the SEC has announced charges against city officials for disclosure-related violations.

Alderman Patrick Daley Thompson, the grandson and nephew of Chicago mayors, was found guilty of federal charges of making false statement and tax fraud.

The change of plea hearing is set for Thursday in a federal court in Mississippi.

A federal judge signed off on sanctions against IFS Securities Inc.'s former head trader for allegedly pocketing phony commissions and unauthorized trades that bankrupted the firm.

Options for the beleaguered transit authority include expanding its commuter rail base and cracking down on fare evasion.

Keith A. Wakefield's alleged unauthorized and speculative trading at the former IFS Securities Inc. and his attempts to cover it up drew charges Thursday from the SEC and U.S. Attorney's office.

RBC and two muni managers settled charges of flipping bonds in the SEC's latest action targeting abuse of retail order periods.

New York's governor, embroiled in a sexual-harassment scandal, will step down in two weeks, in a move that could affect the state-run MTA, a major bond issuer.

Former Markham, Illinois, Mayor David Webb Jr. was accused of pocketing bribes for a project financed with bonds. He also pled guilty to criminal charges.

The Brooklyn borough president maintained his narrow lead under the city's ranked-choice voting system, prompting Kathryn Garcia and Maya Wiley to concede.

Given that subway safety concerns could impair a rebound from COVID-19, recent spikes in crime and levels of policing triggered spirited discussion at a board meeting.

Hilltop Securities Inc., the third-biggest adviser on bonds issued by U.S. states and local governments, sued a former employee for allegedly stealing confidential files before leaving for competitor RBC Capital Markets.

A federal judge agreed with the SEC that the Chicago suburb must prove the status of reforms agreed to in settling allegations the city misused bond proceeds.