Tags: New York

New York state’s financial regulator has told 13 foreign banks doing business there to hand over details about their dealings with a law firm in Panama that helped set up thousands of shell companies.

U.S. Court of Appeals in New York rejected arguments by lawyers of five former employees who worked for Bernard Madoff. The court on Wednesday concluded that five of them were convicted at a fair trial.

Peter Liang, who was initially convicted to manslaughter, has had his conviction reduced to criminally negligent homicide. He is now facing five years' probation and 800 hours of community service. Liang claimed he accidentally shot Akai Gurley on a dark stairwell in Brooklyn housing complex.