Business Ethics Speaker Chuck Gallagher provides White Collar Crime Update Links

HEALTH CARE FRAUD:  http://stlouis.bizjournals.com/stlouis/stories/2010/01/04/daily49.html

Five St. Louis nursing homes operated by Cathedral Rock of Texas pleaded guilty to felony health-care fraud and agreed to pay $1.6 million.

The majority owner of Cathedral Rock, C. Kent Harrington, 60, of Fort Worth, Texas, also entered into a criminal deferred prosecution agreement for a period of two years, Acting U.S. Attorney Michael Reap said Thursday.

Under the plea and deferred prosecution agreement, the five nursing homes and Harrington will jointly pay $1 million in criminal fines and penalties.

CANADIAN ATTORNEY SENTENCED TO PRISON:  http://toronto.ctv.ca/servlet/an/local/CTVNews/20100107/lawyer_sent_100107/20100107/?hub=TorontoNewHome

Toronto lawyer Stan Grmovsek has been sentenced to 39 months in prison for his role in a massive insider trading scheme that netted him and a friend about US$9 million.

The sentence Thursday at the Ontario Court of Justic is the first insider trading conviction under new federal laws that came into place in 2004 and the largest prison sentence ever in Canada for such an offence.

INTERNET GAMBLING EX-CEO SENTENCED TO PRISON:  http://www.bloomberg.com/apps/news?pid=newsarchive&sid=a_vQFyv1c8uw

David Carruthers, the former Betonsports Plc executive who pleaded guilty in a U.S. government investigation that shut the online gambling company, was sentenced to 33 months by a federal judge.

Carruthers was chief executive officer of the London-based Internet gambling business when he and 10 other people including founder Gary S. Kaplan were indicted by a grand jury for violating federal laws banning the placement of wagers by wire in 2006.

HOMESTORE EX-CEO PLEADS GUILTY:  http://www.justice.gov/usao/cac/pressroom/pr2010/002.html

The former chief executive officer and chairman of the board of Homestore.com has agreed to plead guilty to conspiring to commit securities fraud through a scheme that artificially inflated the company’s on-line advertising revenue to make the publicly traded company appear to be more profitable to Wall Street analysts.

Stuart Wolff, 46, of Westlake Village, agreed to plead guilty to one count of conspiracy to commit securities fraud in a plea agreement filed today in United States District Court in Los Angeles.

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