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Kiefer to Get His $1 Million Cattle Investment Back

If you're planning to screw someone out of a $1 million with a harebrained idea to buy cattle in Mexico and re-sell them in the U.S. at a higher price, the last person you want to mess with is Jack Bauer.

I mean, come on. Kiefer Sutherland not only gets wasted and head-butts fashion designers, he can have Chloe O'Brien stare you down until you choke on your own vomit.

But, one California cowboy tried to pull a fast one on 'Ole Kiefer and now he's stepped in a big pile of manure.

Yesterday, Michael Wayne Carr, pleaded guilty to three counts of grand theft and forgery for falsifying contracts and running a fraudulent cattle scheme costing investors including Sutherland over $1.5 million.

The scheme was pretty simple, and reminds us of a similar arbitrage involving groceries.

According to the San Joaquin County District Attorney's Office, Carr told Sutherland that he would buy cattle from Mexico and resell them for a significant profit in the United States. But, prosecutors say there is no evidence Carr ever bought any cows.

Carr agreed to pay nearly $1 million in restitution and serve up to seven years in prison. The 44-year old cowboy is scheduled to be sentenced on Nov. 1.


Miami Jeweler Busted in $40 Million Ponzi Scheme

Yet another South Florida mini-Madoff has been nabbed by the Securities and Exchange Commission for robbing unsuspecting investors out of their hard-earned cash. Luis Felipe Perez allegedly stole $40 million from 35 investors from 2006 through 2009 until his Ponzi scheme unraveled.

Art Samberg, Pequot Settle Insider Trading Charges for $28 Million

Like we told you several weeks ago, Art Samberg and Pequot Capital Management today agreed to settle insider trading charges with Securities and Exchange Commission for $28 million. The SEC Division of Enforcement's also brought a case against the alleged tipper, David Zilkha, a former Microsoft employee. That case will continue in an administrative proceeding before the Commission.

Kenneth Starr's $7.5 Million Ponzi Palace

Kenneth Starr's $7.5 Million Ponzi Palace

If You Can Find Him, This ex-Goldman Sachs Analyst Owes the SEC $28 Million

After ratting on his pals for insider trading, former Goldman analyst David Pajcin decided to hightail it out of town. (Most likely to his native Croatia, although we doubt he’s holed up with his underwear seamstress aunt.) But if authorities can find him, and you know the crack investigators at the SEC will, Pajcin will owe the government $28 million, according to a judgement handed down by U.S. District Judge Kimba Wood late yesterday.

SEC Loses $5.7 Million in Fines Against Croatian Seamstress in Goldman Insider Trading Scheme

A retired Croatian seamstress, who allowed her nephew, a former Goldman Sachs analyst, to make illegal insider trades through her brokerage account, has won the reversal of a $5.7 million penalty she owed to the Securities and Exchange Commission because she sent her response to the allegations to the wrong address.