Although this was a news story that hit about six months ago, we saw very little coverage on, what we think, is a very novel alleged hostile takeover bid by organized crime. On October 26, 2011, a federal grand jury indicted Nicodemo S. Scarfo, an alleged member of the Lucchese crime family, Salvatore Pelullo, an… Continue Reading
Category Archives: SEC Enforcement
Subscribe to SEC Enforcement RSS FeedS.E.C. Takes a Harder Line on Admissions of Guilt
Posted in SEC EnforcementEarlier this month, the S.E.C. changed its long standing practice of allowing defendants of securities violations to “neither admit nor deny” criminal wrongdoing. This change is effectively the S.E.C.’s response to critics that say that the agency should not let criminal defendants simply pay a fine and avoid an admission of guilty. The new policy… Continue Reading