U.S. prosecutors on Thursday announced criminal fraud charges against two former American Realty Capital Properties Inc executives stemming from a 2014 accounting scandal that wiped out roughly $4 billion of the real estate investment trust’s market value. Former Chief Financial Officer Brian Block, 44, was charged with six criminal counts, including securities fraud, conspiracy and […]
The Securities and Exchange Commission today announced an asset freeze it has obtained against three men who aren’t registered to sell investments and allegedly went on lavish shopping sprees with more than $5 million raised from investors to purportedly develop a resort. In an emergency action filed in federal court in Atlanta, the SEC alleges […]
The stock market rout is starting to get really expensive — destroying $2.3 trillion from the market’s top last year and $1.5 trillion in net wealth just this year. The giant companies that predominantly populate the Standard & Poor’s 500 have fallen an average of 8.9% this year — which, when translated into dollars, is real money. The S&P […]
Lagging bituminous coal sales from the West Elk mine in Colorado has forced an Arch Coal subsidiary to lay off 80 workers, the company said Monday. Arch Coal subsidiary Mountain Coal had announced the cuts amid “continuing challenges in domestic and international thermal coal markets,” Saint Louis-based spokeswoman Logan Bonacorsi said. “Up to this point, […]
Aidikoff, Uhl & Bakhtiari is investigating investor losses in oil and gas companies including Los Angeles-based Breitburn Energy Partners (“Breitburn”). On May 15, 2016, Breitburn filed for Chapter 11 bankruptcy protection, citing a continued decline in oil prices which have eroded its balance sheet. Financial service or brokerage firms that recommended the purchase of Breitburn […]