Goldman Sachs has mounting legal woes
Recent Cases
Goldman Sachs' legal headaches don't start and end with the Securities and Exchange Commission.
Reports surfaced late Thursday that federal prosecutors have opened a criminal investigation into Goldman and its employees, over whether it may have committed securities fraud in its mortgage trading operations.
A representative for the firm would not confirm reports of an inquiry, but said they were not surprised given the scrutiny the firm has endured in recent weeks, adding they would cooperate with any requests for information.
The latest legal action builds on the high-profile civil case brought against the company last month by the SEC, in which the agency charged the firm and one of its employees with defrauding investors in the sale of securities tied to subprime mortgages.
In many ways, the agency's case has become a game changer for Goldman. Not only has it tarnished the gilded reputation of Wall Street's top firm, it also exposed the company to series of new legal attacks across a number of fronts.
Since the SEC announcement, top German and British officials, including UK Prime Minister Gordon Brown, have demanded investigations into the firm's dealings, opening the door to additional regulatory probes.
Related listings
-
Enron law firm sues Goldman Sachs
Recent Cases 04/27/2010The law firm that won Enron investors $7.2 billion in what was one of the largest class action suits in the history of securities law filed charges against Goldman Sachs on Monday.Robbins Geller Rudman and Dowd filed the lawsuit in U.S. district cour...
-
Miami-Dade clinic operator pleads guilty to Medicare fraud
Recent Cases 04/12/2010Ihosvany Marquez spent his Medicare millions on a fleet of luxury cars, authorities say, including a Lamborghini Murcielago with spaceship-like doors that cost $455,959.Early Monday, he pleaded guilty in Miami federal court to healthcare fraud charge...
-
Failed mobile phone dealer ran law firm, say staff
Recent Cases 02/22/2010The former owner of two failed companies was the person in “de facto” charge of Cheadle-based law firm Wolstenholmes prior to its collapse in December, Crain's has discovered.Ex-staff who spoke on condition of anonymity said that Wasim Saddique, who ...
USCIS Will Begin Accepting CW-1 Petitions for Fiscal Year 2019
On April 2, 2018, U.S. Citizenship and Immigration Services (USCIS) will begin accepting petitions under the Commonwealth of the Northern Mariana Islands (CNMI)-Only Transitional Worker (CW-1) program subject to the fiscal year (FY) 2019 cap. Employers in the CNMI use the CW-1 program to employ foreign workers who are ineligible for other nonimmigrant worker categories. The cap for CW-1 visas for FY 2019 is 4,999.
For the FY 2019 cap, USCIS encourages employers to file a petition for a CW-1 nonimmigrant worker up to six months in advance of the proposed start date of employment and as early as possible within that timeframe. USCIS will reject a petition if it is filed more than six months in advance. An extension petition may request a start date of Oct. 1, 2018, even if that worker’s current status will not expire by that date.
Since USCIS expects to receive more petitions than the number of CW-1 visas available for FY 2019, USCIS may conduct a lottery to randomly select petitions and associated beneficiaries so that the cap is not exceeded. The lottery would give employers the fairest opportunity to request workers, particularly with the possibility of mail delays from the CNMI.
USCIS will count the total number of beneficiaries in the petitions received after 10 business days to determine if a lottery is needed. If the cap is met after those initial 10 days, a lottery may still need to be conducted with only the petitions received on the last day before the cap was met. USCIS will announce when the cap is met and whether a lottery has been conducted.