Convicted Wall Street trader sues customer who turned his sorry ass in!


Creep of the week

A former Jefferies & Co. managing director convicted of fraud for lying to customers about the price of mortgage-backed securities sued the AllianceBernstein Holding LP (AB) executive who reported him.

Jesse C. Litvak sued Michael Canter, head of the securitized assets group at New York-based AllianceBernstein, in New York State Supreme Court in Manhattan yesterday, accusing him of using “wrongful, unfair or improper means” to interfere with his employment, directly resulting in his termination.

Litvak was accused of defrauding investors of $2 million by misrepresenting how much sellers were asking for the securities, or what customers would pay, and keeping the difference for Jefferies…

Canter testified for the prosecution during the case, saying the spreadsheet showed that Litvak had misled him about how much Jefferies had paid for bonds, including one instance when Canter agreed to raise a bid, yet the firm still paid the original price.

Litvak was found guilty in March of securities fraud and making false statements, as well as fraud connected to the Troubled Asset Relief Program. Along with his prison sentence, he was ordered to pay a $1.75 million fine.

Throw away the key!

This sleazy bastard and the lawyers representing him are perfect examples of how low legal processes have sunk in the United States. From kissing butt for every fundamentalist nutball who doesn’t want to pay taxes – to the open buying and selling of Congress and lesser members of the mutant species we have for elected officials – corruption is justified by every crook in the country.

They act as if the only birthright in the country that doesn’t need validation is that the powerful have every right to steal.

The judge should call him back for re-sentencing – and double the time, triple the fine!

Taco Rage in Texas

SAN ANTONIO, TX — A Taco Bell drive-through customer who became enraged because of a price increase on Beefy Crunch Burritos fired a BB gun through the window at a manager on Sunday, police said.

No one was hurt from the shots fired by the man, who also waved a pistol and an assault rifle in the parking lot, Police Sergeant Chris Benavides said.

As the restaurant’s employees and customers hit the floor, the manager called police, and when officers arrived, the angry patron fired several shots at the police cars, Benavides said.

The man then barricaded himself inside a nearby motel room, sparking a standoff that lasted until police lobbed tear gas inside and the man surrendered.

Benavides said the burritos had been sold for 99 cents each as a promotion, but the man was apparently angry that the promotion had ended, and the price had gone up to $1.49.

Like, if you get this much of a reaction over the end of a special on burritos, how about something truly important like – say – the Dallas Cowboys moving to Los Angeles?

Biggest data breach in UK didn’t require a hacker


Daylife/Getty Images used by permission

Staff at mobile phone company T-Mobile passed on millions of records from thousands of customers to third party brokers, the firm has confirmed. Details emerged after the firm alerted the information commissioner, who said his office was preparing a prosecution.

Christopher Graham said brokers had sold the data to other phone firms, who then cold-called the customers as their contracts were due to expire.

A T-Mobile spokesman said the data had been sold “without our knowledge”.

Mr Graham, who was appointed earlier this year as the watchdog responsible for safeguarding personal information, said the data breach was the biggest of its kind.

Initially Mr Graham had said he would not name the operator involved as it could prejudice a prosecution. But after phone firms 02, Vodafone, Orange, 3 and Virgin said they were not the subject of his investigation, T-Mobile confirmed it had been…

Mr Graham said investigators had been working with the company after it reported suspicions of an unlawful trade in customers’ data…

A spokesman for T-Mobile said the sale of the data had been “deeply regrettable” and that it had been asked to keep it secret to avoid any criminal prosecutions being prejudiced…

No doubt TV talking heads will be stretched to come up with a definition other than the perpetual “hacker”. You should look back into the history of white-collar crime and discover the term “thief” is still pretty sound.

The commodity may vary. The process of stealing – and selling stolen goods – remains the same.

German police investigate kebab sauce after attack

chiles
Choose your weapon!

German police are investigating a chilli sauce to determine whether it was so spicy that it was capable of causing grievous bodily harm when used in an attack.

Police took a sample of the sauce from a kebab stand in Bremen’s central train station after a kebab salesman threw it into the eyes of a customer during a fight over napkins.

“Legally, the question of whether the spiciness of the kebab sauce constituted ‘normal’ or grievous bodily harm must be addressed,” local police in the northern city said on Friday.

Officers broke up a scuffle that kicked off after a 23-year-old wiped his kebab-soiled hands on the stand because the salesman refused to give him a paper napkin. The seller responded by flinging a ladle of sauce in the man’s face.

Har! This sort of battle happens weekly in New Mexico. The chile can escalate all the way up to semi-lethal. 🙂

And then Mr. Fun Guy comes to your teller window….

Imagine having this nutball show up at your teller window:

According to the complaint, [Daniel James]Murray opened an account at Zions First National Bank on May 19 with an $85,000 check….

On May 27, he returned to the bank and tried to withdraw $12,000, but lacked proper identification.

“Not to be disrespectful, but if I don’t get this money, someone is going to die,” Murray said, according to the complaint.

With this last line, I am torn between picturing Clint Eastwood, or Politeness Man.

A bank manager was summoned and Murray was allowed to withdraw the money without proper identification.

Murray would not accept a check and demanded bills no larger than $50, the complaint says.

“We are 94 million miles from the sun, and are in-between the sun and moon, and the eagle that flies between them and it’s a giant step for mankind. … I have traveled thousands of miles to be here and know things that are going to happen. … the banking system will fail and people will die. … there will be chaos in the world,” Murray said, according to the complaint.

He also reportedly made threatening statements against the President, which necessarily becomes the news headline, although his other ramblings are far more blogworthy. We’ll say it again: News sites and blogs work differently.