Banker pled guilty to Albertsons trade fraud
New York City Federal investigators said Thursday that a banker who executed trades against confidential information that Albertsons would be sold pleaded guilty to charges of conspiracy and securities fraud.
According to the U.S. Attorney’s Office, Michael Koulouroudis executed trades on tips provided to him by Nicos Stephanou, an investment banker at UBS who represented a private-equity firm that was interested in acquiring Albertsons in 2005 and 2006.
Koulouroudis faces up to five years in prison on conspiracy charges and up to 20 years on securities fraud, He is scheduled to be sentenced Feb. 11.
Stephanou in May pleaded guilty to seven charges of distributing tips to friends and associates including Joseph Contorinis, a former money manager for the Jefferies Paragon Fund, who was indicted by a federal grand jury on fraud charges last week.
Two other associates of Stephanou have also been charged. Ramesh Chakrapani, a managing director in Blackstone Group’s mergers and acquisitions practice advising Albertsons in its sale, was arrested and charged with conspiracy and securities fraud in February related to the deal, but charges against him were later dropped.
Target helps active military, veterans find service opportunities
MINNEAPOLIS Target announced that it has partnered with VolunteerMatch to help connect military veterans, active military, and their families with community and civic service opportunities across the country.
Available now, military families, veterans and supporters can visit www.VolunteerMatch.org to help connect with service organizations that are available nationwide. The VolunteerMatch home page features a link to its Advanced Search page where “Military Families & Veterans” has been added as a new Interest Area — making it easy for visitors to find military-related volunteer offerings.
“At Target, we have a profound connection to this survey, as we are proud to count many veterans and military reservists among our 350,000 team members. I can’t think of a better way to show our continued support to veterans and active soldiers serving in our Armed Forces than to listen and swiftly respond to their needs,” said Laysha Ward, president of community relations for Target. “This online resource provides an easy way for veterans to find meaningful volunteer and service opportunities and make connections in their local community.”
Walmart announces BlackBerry deal
BENTONVILLE, Ark. Walmart announced that for one week, starting Nov. 14, customers will receive a $100 gift card when they purchase a BlackBerry device with a two-year contract.
“We know customers are very focused on value, and we have promised each week to deliver new savings to help them stretch their dollars this holiday season,” said Greg Hall, VP media services for Walmart U.S. “With our expansion of Walmart Wireless products over the last year, we look forward to providing an exciting offer on our BlackBerry assortment and give cellular customers an extra boost on holiday needs.”