Major Achievements in the Courtroom

 

Patrick Fitzgerald, U.S. Attorney for the Northern District of Illinois
Patrick Fitzgerald, U.S. Attorney for the Northern District of Illinois

Northern District of Illinois

Suburban Man Sentenced to 23 Years in Prison After Hundreds of Victims Lost More Than $30 Million in 22-Year “Ponzi” Scheme

Defendant: Frank A. Castaldi

Sentence: 23 years in prison, restitution to victims of $31.6 million and to IRS of $8.8 million

Description: Ponzi Scheme, victimizing over 300 individuals and investor groups over 23 years

Amount of Fraud: Over $30 million

Date: September 15, 2010

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B. Todd Jones, U.S. Attorney for the District of Minnesota
B. Todd Jones, U.S. Attorney for the District of Minnesota

District of Minnesota

Tom Petters Sentenced to 50 Years in Federal Prison for Orchestrating $3.7 Billion Ponzi Scheme

Defendant: Thomas Joseph Petters

Sentence: 50 years in prison

Description: Ponzi scheme

Amount of Fraud: $3.7 billion

Date: April 8, 2010

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Loretta Lynch, U.S. Attorney for the Eastern District of New York
Loretta Lynch, U.S. Attorney for the Eastern District of New York

Eastern District of New York

Long Island-Based Defendant Caused Thousands of Investors to Lose $195 Million

Defendant: Nicholas Cosmo

Sentence: 25 years in prison, restitution of $179 million, forfeiture of $409 million

Description: Ponzi scheme, victimizing more than 4,000 victims

Amount of Fraud: Over $400 million

Date: October 14, 2011

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Preet Bharara, U.S. Attorney for the Southern District of New York
Preet Bharara, U.S. Attorney for the Southern District of New York

Southern District of New York

Hedge Fund Founder Raj Rajaratnam Sentenced in Manhattan Federal Court to 11 Years in Prison for Insider Trading Crimes

Defendant: Raj Rajaratnam

Sentence: 11 years in prison, $10 million fine, and forfeiture of over $53 million

Description: Largest ever hedge fund insider trading case

Amount of Defendant’s Gain: Over $50 million

Date: October 13, 2011

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Bernard Madoff Sentenced to 150 Years in Prison

Defendant: Bernard Madoff

Sentence: 150 years in prison

Description: Ponzi Scheme causing billions of dollars of losses to thousands of investor-victims

Amount of Fraud: Billions of dollars

Date: June 29, 2009

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Founder of the Cobalt Companies Sentenced to 85 Years in Prison for $23 Million Real Estate Fraud Scheme

Defendant: Irving Stitsky
Sentence: 85 years in prison, restitution of $22 million, forfeiture of $23.1 million

Defendant: Mark Alan Shapiro
Sentence: 85 years in prison, restitution of $22 million, forfeiture of $23.1 million

Description: Investment fraud, victimizing more than 250 victims

Amount of Fraud: $23 million

Date: October 21, 2010

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Neil Macbride, U.S. Attorney for the Eastern District of Virginia
Neil Macbride, U.S. Attorney for the Eastern District of Virginia

Eastern District of Virginia

Houston-based Principals of A&O Entities Sentenced in Virginia for $100 Million Fraud Scheme

Defendant: Adley H. Abdulwahab
Sentence: 60 years in prison

Defendant: Christian Allmendinger
Sentence: Sentence: 45 years in prison

Description: Investment fraud, victimizing more than 800 victims nationwide

Amount of Fraud: $100 million

Date: September 28, 2011

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Former Chairman of Taylor, Bean & Whitaker Sentenced to 30 Years in Prison and Ordered to Forfeit $38.5 Million

Description: Bank fraud through sales of fraudulent mortgage assets

Sentence: 30 years in prison, forfeiture of $38.5 million

Description: Ponzi scheme

Amount of Fraud: $2.9 billion

Date: June 30, 2011

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