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August 24, 2010
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Arizona Annuity News

 

Three Samsung Executives Agree to Plead Guilty, Serve Jail Time

Three executives from Samsung Electronics Company Ltd., the world's largest manufacturer of a common computer component called dynamic random access memory (DRAM), have agreed to plead guilty and to serve jail time in the United States for participating in a global conspiracy to fix DRAM prices, the Department of Justice announced.

Four companies and 12 individuals have been charged and fines totaling more than $731 million have resulted from the Department's DRAM investigation. It is the second largest amount of fines ever collected by the Department of Justice from a single price-fixing conspiracy.

Each executive also has agreed to pay a $250,000 fine and to cooperate in the Antitrust Division's ongoing investigation of the DRAM industry. In agreeing to plead guilty, the executives have agreed not to contest the jurisdiction of the United States, so extradition will not be required. The pleas and sentences are subject to the approval of the U.S. District Court in San Francisco.

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Did You Know?    
 
 
Employee Retirement Income Security Act (ERISA)
The federal law that establishes the basic requirements for employee benefit plans. The authority for administering and enforcing ERISA is divided among three federal agencies: The Internal Revenue Service (IRS), the Department of Labor (DOL), and the Pension Benefit Guaranty Corporation (PBGC).

 


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Latest news about Annuity cases in Arizona and nationwide:

Botetourt Woman Pleads Guilty To Mail Fraud And Money Laundering
United States Attorney John L. Brownlee announced today that Monica Yates, age 40, of Daleville, Virginia, pleaded guilty to one count each of mail...
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Former Massachusetts Insurance Broker Sentenced For Fraud And Money Laundering
Joseph P. Garvey was sentenced to 71 months in prison, followed by three years of supervised release for money laundering and mail fraud. Garvey wa...
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Carnahan Cracks Down In Variable Annuity Case
Jefferson city, Missouri -- Secretary of State Robin Carnahan's Commissioner of Securities, Matt Kitzi, recently issued a consent order involving a...
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Annuity Lawyers.com Terms

 


Today's Terms

COLA, CSRS

Definition:
CSRS cost of living adjustments (COLA's) provide an increase that is equal to the rate of inflation as measured by the Consumer Price Index (CPI). CSRS cost-of-living-adjustments are provided to retirees at all ages

Conversion

Definition:
The exchange of group insurance for insurance under an individual policy purchased from a private insurance company approved by the Office of Personnel Management.

Accidental Death

Definition:
Bodily injuries sustained solely through violent, external and accidental means, and as a direct result of the bodily injuries, independently of all other causes, and within 90 days afterwards, you lose your life.

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Annuity Law Resources

 


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Annuity Law Hot Topics

 
Topics Related to Annuity:

  • Client Manipulation
  • Providing False Information
  • Lying to Auditors
  • Unauthorized Transactions
  • Breach of Fiduciary Duty
  • Broker Embezzlement

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Arizona Annuity-Law Attorney

 
If you live in the following cities and need an Annuity-Law attorney you should contact our Annuity-Law Attorney as soon as possible:

  • Apache Junction
  • Avondale
  • Buckeye
  • Bullhead City
  • Casa Grande
  • Cave Creek
  • Chandler
  • Chino Valley
  • Cottonwood
  • Douglas
  • Flagstaff
  • Florence
  • Fountain Hills
  • Gilbert
  • Glendale
  • Green Valley
  • Kingman
  • Lake Havasu City
  • Mesa
  • Nogales
  • Paradise Valley
  • Payson
  • Peoria
  • Phoenix
  • Prescott Valley
  • Safford
  • Scottsdale
  • Sierra Vista
  • Somerton
  • Sun City
  • Sun City West
  • Surprise
  • Tempe
  • Tucson
  • Yuma


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