Clients - Shore News Network

Disbarred Hazlet attorney sentenced to 10 years for stealing over $1 million from clients

Breaking Local News ReportJanuary 21, 20250

FREEHOLD, N.J. — A former real estate attorney from Hazlet has been sentenced to 10 years in state prison for stealing more than $1.18 million from 60 clients, Monmouth County Prosecutor Raymond S. Santiago announced Tuesday. Steven H. Salami, 49, was sentenced on Friday, January 17, by Monmouth County Superior Court Judge Christie Bevacqua. In addition to his prison term, Salami was ordered to repay the full amount of stolen funds to the New Jersey Lawyers’ Fund for Client Protection, which had reimbursed his victims. An investigation by the Monmouth County Prosecutor’s Office Financial Crimes and Special Prosecutions Unit revealed

New Jersey investment advisor admits to stealing $3 million from clients

Breaking Local News ReportNovember 21, 20240

TRENTON, N.J. — A former investment advisor from Bergen County has admitted to stealing more than $3 million from five clients to fund his gambling and lavish lifestyle, federal prosecutors announced Wednesday. Kenneth A. Welsh, 42, of River Edge, pleaded guilty in federal court to four counts of wire fraud and one count of investment advisor fraud before U.S. District Judge Robert Kirsch in Trenton. The charges stem from a years-long scheme to defraud clients while Welsh was employed by a large brokerage firm. Prosecutors say that between July 2017 and March 2021, Welsh diverted funds from the brokerage accounts

New Jersey Real-Estate Attorney Admits to Stealing from Clients

Breaking Local News ReportOctober 16, 20240

Freehold, NJ– A real-estate attorney has confessed to embezzling nearly $1.18 million from 60 clients, as announced by Monmouth County Prosecutor Raymond S. Santiago on Wednesday. Steven H. Salami, 49, from Hazlet, entered a guilty plea on Tuesday before Monmouth County Superior Court Judge Christie Bevacqua to the charge of second-degree Financial Facilitation of Criminal Activity. Salami was slapped with multiple charges. An investigation by the MCPO Financial Crimes and Special Prosecutions Unit revealed that Salami defrauded four victims of nearly $300,000 between April and August 2019. Salami was found to have accepted funds for real-estate transactions while failing to

Rancho Cucamonga couple convicted of running ‘birth tourism’ scheme for Chinese clients

Breaking Local News ReportSeptember 15, 20240

LOS ANGELES — Two San Bernardino County residents were found guilty Friday of federal criminal charges related to a “birth tourism” operation that helped Chinese clients give birth in the United States to secure birthright U.S. citizenship for their children. Michael Wei Yueh Liu, 59, and Jing Dong, 47, both of Rancho Cucamonga, were convicted by a jury of one count of conspiracy and 10 counts of international money laundering. The U.S. Attorney’s Office for the Central District of California announced the verdict following a four-day trial. Liu and Dong operated the scheme from at least January 2012 to March

Former Stony Brook Attorney Sentenced To One And One-Third To Four Years In Prison For Stealing More Than $800K From Clients

Breaking Local News ReportAugust 23, 20240

Suffolk County, N.Y. – Douglas Valente, 57, the former principal attorney at the Valente Law Group based in Stony Brook, was sentenced today to one and one-third to four years in prison for stealing over $800,000 from three former clients. Valente, who now resides in Florida, pleaded guilty to three counts of grand larceny in the second degree. “An attorney’s duty is to protect their clients’ interests, not exploit them for personal gain,” said Suffolk County District Attorney Raymond A. Tierney. “We will not tolerate crime committed with a law degree any more than we would when committed by violence

Former Pennsylvania Attorney Sentenced for Forgery and Lying to Clients

Conservative TimesMay 8, 20240

HARRISBURG, Pa. – A former attorney from Lackawanna County has been sentenced to prison for lying to clients and forging documents. James Conaboy, aged 52, of Clarks Summit, was sentenced to 30 days to a year in prison by a Luzerne County Judge, followed by four years of probation. The sentencing followed a guilty plea from Conaboy on charges of forgery and tampering with records. The investigation by the Office of Attorney General revealed that Conaboy had misled clients about their cases, making false promises of settlements that were never realized. Conaboy was accused of lying to clients about the

Former Attorney Sentenced for Taking Money from Special Needs Clients

Indira PatelMay 7, 20240

According to court documents, Mansfield was a licensed attorney in New Mexico and Oklahoma. In 2011, she was asked to serve as trustee over supplemental needs trust (SNT) accounts for five adults with intellectual disabilities. The SNT accounts are established to protect clients’ Medicaid and Social Security disability benefits. Mansfield was entrusted to access these accounts for the sole benefit of the client. For example, she was authorized to withdraw funds to purchase a handicapped vehicle, clothing, dance lessons, and Special Olympic fees, and to prepay funeral expenses. TULSA, Okla. – Today, U.S. District Judge Gregory K. Frizzell sentenced Leslie

CNN Legal Analysts Press Michael Cohen’s Former Lawyer Over His Client’s Past Lies

The Daily CallerMay 3, 20240

CNN legal analysts on Thursday pressed Lanny Davis, Michael Cohen’s former attorney, on the lies his previous client pled guilty to telling. Cohen is a key witness against former President Donald Trump in his current trial as he was his previous attorney and has come under fire for his history of lying under oath. CNN legal analysts Elie Honig and Elliot Williams pressed Davis about Cohen’s past lies and how they will impact how his testimony is received. WATCH: “Lanny, I’m sure that Michael Cohen and the prosecution will offer exactly the narrative that you just described, which is Michael

‘I Was Saddened’: Former OJ Attorney Alan Dershowitz Reacts To His Famous Client’s Death

The Daily CallerApril 12, 20240

Noted attorney Alan Dershowitz on Thursday reacted with sadness to his former client O.J. Simpson’s death. A criminal jury, in an October 1995 trial Dershowitz was involved in, acquitted Simpson on charges of murdering his ex-wife Nicole Brown and her friend Ronald Goldman after their deaths in June 1994, according to The New York Times. Simpson reportedly passed away from cancer on Wednesday, with Dershowitz expressing how he felt after learning of his death and reminiscing on Newsmax about their time together. WATCH: “I knew he had been sick and suffering from cancer, so it was not a great surprise

New Jersey Dog Trainer Heading to Prison for Defrauding Clients

Law and Crime ReportApril 1, 20240

MONTGOMERY, AL – Joseph Robert Merry, Jr., a 42-year-old from Plaistow, New Hampshire, has been sentenced to 51 months in prison for engaging in a fraudulent scheme through dog training businesses. The sentencing was announced by Acting United States Attorney Jonathan S. Ross. According to court records and Merry’s plea agreement, between 2017 and 2018, Merry deceived individuals into investing in dog training ventures he claimed to have established in Indiana, New Jersey, and Lee County, Alabama, making false promises about large prospective contracts. He even impersonated potential clients, including once posing as a high-ranking official of an energy company,

Top global hedge funds tripled gains for clients in 2023, LCH finds

ReutersJanuary 21, 20240

By Carolina Mandl and Nell Mackenzie NEW YORK/LONDON (Reuters) – The world’s 20 best-performing hedge funds generated $67 billion for investors in 2023, roughly triple what they returned in 2022, with activist TCI Fund Management leading the pack, according to data published by LCH Investments on Monday. Bridgewater Associates, founded by billionaire Ray Dalio, and Caxton, were the only two firms among the 20 whose funds posted a loss. The ranking does not include all of Bridgewater’s funds, such as All Weather, which tends to follow the broader market moves and was up 10.6% last year, a source familiar with

Google Cloud removes data transfer fees when clients switch to rivals

ReutersJanuary 11, 20240

By Supantha Mukherjee STOCKHOLM (Reuters) – Alphabet’s Google Cloud said on Thursday its customers who want to migrate their data to another cloud provider will not have to pay any network fees to make the transfer. Many cloud providers, including Microsoft’s Azure and Amazon Web Services (AWS), charge customers based on the amount of data transferred when they switch vendors. Britain’s media regulator Ofcom in October raised concerns about the fees, saying it can discourage customers from switching to an alternative provider. Ofcom had earlier asked the country’s antitrust authority to investigate tech giants’ dominance of the UK cloud market.

Asia wealth managers flock to Dubai as clients look to diversify

ReutersJanuary 7, 20240

By Xie Yu and Yantoultra Ngui HONG KONG/SINGAPORE (Reuters) – A growing number of wealth managers in Asia are setting up offices in Dubai, capitalising on warming diplomatic ties between China and the Middle East and betting on a surge in demand from clients for geographical diversification. Dubai, a major financial hub in the Gulf region, is emerging as a preferred wealth hub for many entrepreneurs and rich families in Asia, mainly China, as they look to take advantage of favourable policies and expand their businesses, wealth managers said. Noah Holdings, one of China’s top wealth managers overseeing round $23

HSBC adds US stock analysts to serve wealthy clients

ReutersDecember 19, 20230

By Tatiana Bautzer NEW YORK (Reuters) – HSBC expanded its Americas equity research team to 24 people this year, adding to its coverage of U.S. stock markets for wealthy clients, the bank said on Tuesday. HSBC hired 12 equity analysts for the region, increasing the equity team to 24 people and the group of researchers for all asset classes in the Americas to 40. Globally HSBC has 323 analysts covering all asset classes. Daragh Maher, HSBC’s head of research in the Americas, said the recruits enabled HSBC to broaden its equities coverage in the Americas to more than 250 stocks

Robinhood woos wealthier clients from bigger brokerages- WSJ

ReutersDecember 16, 20230

(Reuters) – Robinhood Markets is attracting customers from other brokerages, and is seeking to expand beyond its base of young, first-time investors, the Wall Street Journal reported on Saturday. Through Wednesday, the trading app received about $1.1 billion in account transfers since Oct. 23, when it began offering a 1% match on transferred brokerage accounts, the Wall Street Journal reported. (Reporting by Gursimran Kaur in Bengaluru; editing by Diane Craft)

Brooklyn Lawyer Charged with Stealing Over $1.5 Million from Clients

Leo CanegaDecember 15, 20230

BROOKLYN, N.Y. – Brooklyn District Attorney Eric Gonzalez announced the arraignment of Salvatore Strazzullo, a 51-year-old lawyer, on charges of grand larceny and scheme to defraud. Strazzullo, based in Bensonhurst, Brooklyn, is accused of stealing nearly $1.5 million from clients involved in real estate and estate proceedings. According to the investigation, Strazzullo allegedly withheld over $1.2 million from the sale of a 79-year-old woman’s house and $170,000 from an 80-year-old man’s property sale. Additionally, he is accused of failing to disburse $96,000 from a 52-year-old woman’s estate funds. Despite multiple requests from these clients, Strazzullo reportedly stalled and made excuses.

Brooklyn Lawyer Charged with Stealing $1.5 Million from Clients

Adam DevineDecember 14, 20230

BROOKLYN, NY — Brooklyn District Attorney Eric Gonzalez announced the arraignment of lawyer Salvatore Strazzullo for allegedly stealing nearly $1.5 million from three clients. Strazzullo, 51, faces charges including first-degree grand larceny and scheme to defraud. The indictment alleges that Strazzullo withheld over $1.2 million from a 79-year-old woman following her house sale in Bensonhurst, and approximately $170,000 from an 80-year-old man after selling his property in Borough Park. Additionally, he is accused of failing to disburse around $96,000 from a Surrogate’s Court proceeding to a 52-year-old woman. Gonzalez emphasized the ethical duty of attorneys to protect their clients’ interests

Suffolk County Attorney Indicted for Grand Larceny and Scheme to Defraud Clients

Adam DevineDecember 5, 20230

SYOSSET, NY – Suffolk County District Attorney Raymond A. Tierney today announced the indictment of Syosset resident Daphna Zekaria, 54, a partner at the Huntington law firm of Sokolski and Zekaria, P.C. Zekaria faces charges for allegedly stealing from two clients. According to the investigation, in December 2021, Zekaria was hired by a New York State Lottery winner. She allegedly promised to hold and invest a portion of the client’s winnings. Instead, she reportedly made large unauthorized transfers, totaling $230,000 in three transactions. In March, a Manhattan woman hired Zekaria to contest eviction proceedings. The client paid $17,500 but alleged

New Jersey Charges Contractor for Denying Service to Jewish Clients

Conservative TimesNovember 30, 20230

TRENTON, NJ – Attorney General Matthew J. Platkin and the Division on Civil Rights (DCR) have issued a Notice of Violation against Melquisedec Francis for discriminatory practices. Francis, advertising his services on TaskRabbit and other platforms, openly stated his refusal to provide services to Jewish patrons, violating the New Jersey Law Against Discrimination (LAD). Francis posted, “I am expressing my solidarity with the Palestinian People until the war in Gaza is resolved. And as a result, I am currently not offering my services to the Jewish Community.” DCR’s investigation revealed multiple instances of Francis’s discriminatory statements, including a TaskRabbit advertisement

Russia’s SPB Exchange clients to get a third of FX funds back after US sanctions

ReutersNovember 28, 20230

MOSCOW (Reuters) – Russia’s SPB Exchange, which specialises in trading foreign shares, said on Tuesday it would transfer almost a third of clients’ funds held in foreign currency to them in roubles, with U.S. sanctions blocking access to the rest of the funds for now. The U.S. Treasury in early November targeted SPB as part of sweeping new measures that also aim to curb Russia’s future energy capabilities and sanctions evasion. This forced SPB to halt trading of shares on the exchange and to tweak its strategy to focus on settlements in roubles. SPB said it had agreed with brokers

Deutsche Bank boosts Asia bets as clients seek Wall Street alternative -CEO

ReutersNovember 9, 20230

By Selena Li HONG KONG (Reuters) – Deutsche Bank is investing more in Asia Pacific markets to woo clients seeking European lenders amid Sino-U.S. tensions and to profit from the region’s higher economic growth compared to other major markets, its chief said. “From a capital allocation, technology allocation and a people allocation perspective, there is a direction of more resources to Asia Pacific,” Christian Sewing, CEO of Germany’s largest bank, told Reuters in an interview in Hong Kong on Wednesday. Asia offers higher profit margins than other regions, according to Sewing, who took the helm at the lender in 2018.

Former Atlanta attorney convicted of stealing millions of dollars from clients

Indira PatelOctober 17, 20230

ATLANTA – Matthew Allen Dickason, who was the owner of an Atlanta law firm, has pleaded guilty to federal charges arising from a scheme to defraud the firm’s clients. “It is shameful for an attorney to abuse the trust placed in him by his clients, but that is exactly what Dickason did,” said U.S. Attorney Ryan K. Buchanan. “He misappropriated millions of dollars belonging to his clients for his personal benefit with no regard for how his clients would be affected.” “Wire fraud is an offense that the FBI takes very seriously, especially when innocent victims are being defrauded. In

Brazil shipping agents warn clients drought disrupting corn shipping on barges

ReutersOctober 13, 20230

By Ana Mano SAO PAULO (Reuters) – A severe drought is disrupting barge traffic on the Tapajos river in the Amazon rainforest, shipping agencies told clients this week as Brazil enters the final months of 2023’s corn export season. “Due to the dry season in the Amazon River, the current situation of barges’ navigation at the Tapajos River is getting restricted,” shipping agent Alphamar said in a note to clients, seen by Reuters. The barge convoys are smaller than usual and in some cases barges are reducing their loads by about 50% in order to safely navigate on some parts

Deutsche Bank to hold crypto for institutional clients

ReutersSeptember 14, 20230

By Elizabeth Howcroft LONDON (Reuters) – Deutsche Bank has partnered with Swiss crypto firm Taurus to provide custody services for institutional clients’ cryptocurrencies and tokenised assets, Taurus said in a statement on Thursday. The partnership means Deutsche Bank will, for the first time, be able to hold a limited number of cryptocurrencies for its clients, as well as tokenised versions of traditional financial assets, a Deutsche Bank spokesperson said. Crypto trading is not in the bank’s “immediate plans”, the spokesperson said. Deutsche Bank said it aimed to offer crypto trading in a World Economic Forum paper back in 2020. Crypto

Citigroup’s Asia family office clients poised to grow 25% in 2023

ReutersAugust 3, 20230

By Xie Yu HONG KONG (Reuters) – Citigroup’s Asia family office business expects a 25% increase in clients this year, the U.S. bank’s regional head of its family office advisory business said, as Singapore and Hong Kong vie to attract more wealth. The momentum builds off a strong 2022 when the bank saw client numbers increase by around 50% year-on-year in Asia from a modest base in the preceding year, Faye Ong told Reuters in an interview. Global banks have been beefing up family office arms in Asia, as demand continues to surge among rich Asians wanting to set up