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Cendant Mortgage

10637 McClemont Ave, Tujunga, Homes for Sale

cel:818.262.5446 email:800041.lead@cendant.lead Shelley Rizzotti cel:818.516.6409 email:800041.lead@cendant.lead Ewing &amp ...

Government rebuffed on major insider trading case

The new insider-trading case that the Court declined to review marked a significant break in a string of scores of victories by prosecutors in Manhattan against those who buy or sell stock by relying on corporate data that was not yet known to the public, including other investors.  Prosecutors had won convictions of two hedge-fund portfolio managers, Todd Newman and Anthony Chiasson, who had made millions by trading in information that was passed along to them through a chain of contacts, traced back to corporate insiders for high-tech companies.

Newman, a portfolio manager at Diamondback Capital Management, made about $4 million in gains and Chiasson, a co-founder of Level Global Investors, gained about $38 million.  They were convicted of criminal trading on inside information; Newman was sentenced to fifty-four months in prison and Chiasson to seventy-eight months.   They were prosecuted on the basis of a “gift theory” — that is, they benefited in the market from transactions that were based on something that was handed to them indirectly.

Cendant's Silverman sues UES “architect” for shoddy work

Skordas, showing impressive chutzpah, is defending himself by claiming he’s simply not a professional architect, despite his repeated claims, and so cannot technically be sued.

“The law is well-settled that only professionals can be held liable for malpractice,” Skordas’ lawyer David Bolton asserted in court filings.

Manhattan Supreme Court Judge Saliann Scarpulla wasn’t impressed. “Defendants who hold themselves out as licensed professionals when they are not may nonetheless be liable for malpractice,” she wrote, ordering Skordas to face trial.

The alleged non-architect built a “jail-like fence around the property,” installed a “door to nowhere” and took money earmarked for contractors, the suit said.

For his unprofessional services, Skordas charged Silverman and his wife $145,000.

Silverman founded Cendant, a diversified service and rental company, in the early 1990s and