Sandra Hatfield, the former chief operating officer of a body armor firm formerly known as DHB Industries Inc., was sentenced to seven years in prison in a $190 million fraud and insider-trading scheme, the U.S. said.
A New York money manager pleaded guilty to running a $96 million Ponzi scheme that was used to buy luxury homes and cars and to finance an unprofitable 117- unit resort in eastern Long Island, prosecutors said.
Long Beach Medical Center in New York, mostly closed since October 2012 because of damage from Hurricane Sandy, filed bankruptcy with plans to sell its assets to South Nassau Communities Hospital for $21 million.
A money manager and a real estate developer already facing a regulator’s fraud lawsuit were charged with running a $96 million Ponzi scheme and diverting the proceeds to their New York beachfront resort.
A Morgan Stanley broker and a law firm employee were charged with insider trading in a scheme that included passing tips on notes and napkins that a middleman swallowed under the big clock in Grand Central Terminal.