Securities Industry Commentator by Bill Singer Esq

January 18, 2018

Manhattan Man Arrested For Stealing More Than $1.2 Million Of Rare And Expensive Wine (DOJ Press Release 18-017)
Having been the third-generation of my family in the wine and liquor business before becoming a lawyer, this case certainly caught my attention! Nicolas De-Meyer was indicted in the United States District Court for the Southern District of New York on one count of interstate transportation of stolen property for his role in the alleged theft of $1.2 million from a victim who is described in various press reports as Goldman Sachs Group Inc. Co-President David Solomon. READ the FULL TEXT Indictment 
As set forth in part in the DOJ Press Release:

From 2008 to November 2016, NICOLAS DE-MEYER worked as a personal assistant to a Manhattan-based individual (the "Victim") who collects rare and expensive wine.  From at least 2014 to approximately October 2016, DE-MEYER stole from the Victim hundreds of bottles of wine worth more than $1.2 million.  During that time, DE-MEYER used an alias to sell the wine that he stole from the Victim to a North Carolina-based wine dealer.  Among the wine DE-MEYER stole were bottles of wine from the French estate Domaine de la Romanee-Conti ("DRC"), whose wines are widely considered among the best, most expensive, and rarest wines in the world.  For example, in October 2016, DE-MEYER stole from the Victim seven bottles of DRC wine that the Victim had previously purchased for $133,650.

For a variation of the In Vino No Veritas theme, READ: "UPDATE: In Vino No Veritas. Wine Fraudster Kurniawan Sentenced" ( Blog, September 11, 2014)  

FINRA Firm Sues For $5.6 Million In Unfair Competition Arbitration ( Blog) As readers of the Blog know, we frequently discuss the dangers of filing lawsuits -- as in the risk of you suing someone over something that maybe you shouldn't have hired a lawyer for and wasted your time and, go figure, not only do you lose your case but to add insult to injury, the guy you sued turned around, sued you, and, omigod, you really got hammered with damages, interest, cost, and fees. READ

CFTC Charges Illinois Traders Richard D. Carter and Mark R. Slobodnik and their Company, Blue Guru Trading, LLC, with Fraud / Alleged Ongoing Commodity Pool Fraud Took in at Least $750,000 from at Least 18 Pool Participants (CFTC Press Release  pr7672-18) 
The Commodity Futures Trading Commission filed a civil enforcement action in the U.S. District Court for the Northern District of Illinois, charging Defendants Richard D. Carter, Mark R. Slobodnik, and their company Blue Guru Trading, LLC with fraudulent solicitation, issuing false statements, and misappropriation in connection with investments in their Blue Guru commodity pool; and with registration violations. A Statutory Restraining Order froze the assets of Carter, Slobodnik, and Blue Guru, and prohibits the destruction of their books and records. 
READ the FULL TEXT Complaint
READ the FULL TEXT Restraining Order

Bureau of Prisons Tests Micro-Jamming Technology in Federal Prison to Prevent Contraband Cell Phones (DOJ Press Release 18-51)
The Federal Bureau of Prisons tested micro-jamming technology to determine if micro-jamming could prevent wireless communication by an inmate using a contraband device at the individual cell housing unit level. Contraband cellphones have been an ongoing correctional security and public safety concern for federal, state, and local correctional agencies because the devices are used to further ongoing criminal activity, including threats to public officials, intimidation of witnesses, and continuance of criminal enterprises.