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Eastern District of New York

Business
Ousted Melville CEO Dodges $12K In Losses Trading On Insider Info, Feds Say Ousted Melville CEO Dodges $12K In Losses Trading On Insider Info, Feds Say
Ousted Melville CEO Dodges $12K In Losses Trading On Insider Info, Feds Say The former CEO of a New York telecommunications company is accused of engaging in insider trading just hours after he was fired, dodging thousands in losses. Ken Peterman, 67, was arrested Wednesday, Dec. 11, on federal charges of insider trading and securities fraud. Prosecutors said Peterman exploited non-public information about Melville-based Comtech Telecommunications’ poor financial performance and his impending termination to sell company shares, avoiding significant financial losses. According to the US Securities and Exchange Commission (SEC), he violated two trading blackouts whe…

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by Michael Mashburn
News
Nassau County's Mask Ban Causes 'Great Stress, Fear,' Federal Lawsuit Argues Nassau County's Mask Ban Causes 'Great Stress, Fear,' Federal Lawsuit Argues
Nassau County's Mask Ban Causes 'Great Stress, Fear,' Federal Lawsuit Argues A New York county’s controversial mask ban is already facing legal challenges. Click here for a new, updated story: Mask Ban Arrest: Hicksville 18-Year-Old First Person Charged Under Controversial Law In a class action lawsuit filed in the Eastern District of New York on Thursday, Aug. 22, Disability Rights of New York argued that Nassau County’s law barring face coverings in public violates federal law and discriminates against people with disabilities. The filing came a little more than a week after Nassau County Executive Bruce Blakeman, a Republican, signed the “Mask Transparenc…

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by Michael Mashburn
Politics
Ousted LI Rep. George Santos Likely To Face Prison After Pleading Guilty In Fraud Case Ousted LI Rep. George Santos Likely To Face Prison After Pleading Guilty In Fraud Case
Ousted LI Rep. George Santos Likely To Face Prison After Pleading Guilty In Fraud Case Former Republican Congressman George Santos admitted to committing wire fraud and aggravated identity theft in a federal court on Monday, Aug. 19, authorities announced.  The 36-year-old former inhabitant of New York's 3rd Congressional District seat on Long Island was facing 23 felonies, and a trial set to begin next month.  A federal judge will sentence Santos on Friday, Feb. 7, 2025, the US Attorney for the Eastern District of New York said. According to federal sentencing guidelines, aggravated identity theft carries a mandatory two-year minimum sentence.&n…

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by Josh Lanier
Business
Boar's Head Facing NY Lawsuit Over Deli Meat Recall Boar's Head Facing NY Lawsuit Over Deli Meat Recall
Boar's Head Facing NY Lawsuit Over Deli Meat Recall Boar’s Head's massive product recall is going from the delicatessen to the courtroom. After an initial recall last month of around 200,000 pounds of deli meat due to possible Listeria contamination, the company expanded it on Tuesday, July 30, to approximately seven million additional pounds of ready-to-eat meat and poultry products.  Click here for a new, updated story: Third Death From Listeria Outbreak Linked To Boar's Head Deli Meat A lawsuit filed on Thursday, Aug. 1 in the US District Court for the Eastern District of New York accuses Boar’s Head Provisions Co. Inc. …

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by Joe Lombardi
News
$1B Scheme: Pair Of CEOs, Including Manhasset Man, Defrauded 10K Investors, Jury Finds $1B Scheme: Pair Of CEOs, Including Manhasset Man, Defrauded 10K Investors, Jury Finds
$1B Scheme: Pair Of CEOs, Including Manhasset Man, Defrauded 10K Investors, Jury Finds A New York resident was one of two CEOs convicted in federal court of a $1 billion fraud scheme involving thousands of investors. Long Island resident David Gentile, age 57, of Manhasset, and Jeffry Schneider, age 55, of Austin, Texas, were found guilty in federal court on all counts of an indictment charging them with conspiracy to commit securities fraud, conspiracy to commit wire fraud, and securities fraud. Gentile, the owner and CEO of GPB Capital Holdings, was also convicted on two counts of wire fraud. The verdict came after an eight-week trial. When sentenced on Thursd…

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by Joe Lombardi