NORFOLK, Va. - (10/17/05) -- A former assistant superintendentfor Prince George's County schools in suburban Washington, D.C.,was found guilty of five counts of money laundering Friday in amajor drug conspiracy case. Pamela Hoffler-Ridick, 44 faces up to20 years in prison after being convicted of funneling more than$16,000 in proceeds from a multi-million dollar drug ring throughher account at Virginia Educators CU. She claimed she didn't knowthat her then-boyfriend was using her to hide his drug profits.Hoffler-Riddick was one of 40 defendants charged in 'OperationBlowfish,' a ring that federal agents said distributed about $20million in marijuana and cocaine, imported mostly from Mexico tosoutheastern Virginia and other locations between 1996 and 2004.She was once a standout educator in Virginia Beach and in Norfolk,then later in Maryland, where she lost her $138,000-a-year jobafter her arrest last year.
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The Jackson, Mississippi, company will use proceeds from the sale of its Fisher Brown Bottrell Insurance unit to restructure its investment portfolio, moving $1.6 billion of low-yield securities off the balance sheet.
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The store-branded card issuer is raising annual percentage rates and adding fees for paper statements to compensate for lost revenue. The Consumer Financial Protection Bureau's new regulation is scheduled to take effect on May 14.
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At the banks' annual meetings, shareholders at both companies struck down proposals that would have split the board chair and CEO roles. Two other proposals also failed to win shareholder support, one concerning energy financing and another on pay gap analysis.
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Congressional Review Act resolutions are ramping up ahead of the 2024 election cycle. Experts say that, although none are likely to become law, the resolutions are still powerful messaging and political tools.
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The ABA is testing an information-exchange network to allow banks to share their fraud data with each other. Companies including Baselayer are also building solutions.
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Republicans on the House and Senate Small Business committees are accusing the SBA of being irresponsible in granting Funding Circle permission to participate in its flagship loan-guarantee program.
April 24