The fraud caused losses to stockholders amounting to more than $60 billion, the complaint said.
Insider trading does not cause "the kinds of measurable losses to identifiable victims that conventional fraud causes," Mr. Rajaratnam's lawyers wrote in a court filing.
In March 2007, the inspector general and officials of the Department of Housing and Urban Development began investigating claims that Beazer had engaged in mortgage fraud, causing losses to the Federal Housing Administration's insurance fund that covered mortgages when buyers couldn't pay.
In a possible strange twist, Mr Pavlov claims that Mr Perepilichnyy managed to implicate himself in the fraud, causing Swiss prosecutors to freeze his own accounts as well as Mr Stepanov's.
The proposed change would allow -- but not require -- lawyers to disclose confidences to prevent or rectify crime or fraud causing financial injury, when a lawyer's services were used to help perpetrate the crime.
As the saying goes, "yi, liye (profits come from justice)", "qizha huishi, xinyu xingshi (fraud causes the market to crash, while trustworthiness brings the market prosperity)".
But the Treasury recently warned taxpayers that rumors to the contrary they can't deduct a drop in the value of publicly traded stock as theft just because fraud caused the company to collapse.
Banks, the institutions whose criminality and fraud caused the crisis, are doing just fine, thank you very much.
Martelly has such a strong-hold on the country that the current election process was co-opted by real and perceived voter fraud, causing candidate Jude Celestin to refuse to participate in a runoff against Martelly's hand picked successor, the Banana Man, Jovenel Moise.
