u s securities and exchange commission

• News

Texas businessman and partner of Towson millionaire pleads guilty in lucrative Ponzi scheme

Jay Ledford admitted to doctoring bank statements to help his partner in Baltimore County dupe investors around the world.

By Tim Prudente

Jun 6, 2019

• News

Millionaire Towson businessman pleads guilty in what feds called 'coldhearted and ruthless' Ponzi scheme

Towson businessman and alleged fraudster Kevin B. Merrill has pleaded guilty to wire fraud and conspiracy to commit wire fraud.

By Tim Prudente

May 16, 2019

• From the Community:

Planning Steps for a Career in Accounting

A career in accounting is a smart choice. The industry is expected to grow, the median salary is high, and there is a demand for qualified accountants. Planning ahead is vital if you want to create a foundation for a successful career path as an accountant. The accounting field is more diverse than you may expect, with opportunities to apply your skills in many different areas. On the most basic level, accountants keep and inspect financial accounts for individual clients, companies or government institutions. With more education and experience you can become certified and this gives you greater opportunities to ...

• Business

T. Rowe Price earnings rise as market rebounds

The Baltimore-based money management saw a "strong recovery," according to William J. Stromberg, T. Rowe’s president and CEO.

• Business

Columbia biotech company that makes skin substitutes is sold to a London-based firm

Sale of one of Maryland’s most promising biotechnology companies, Osiris Therapeutics Inc., to a British medical equipment maker is complete, according to the Columbia-based company. 

By Meredith Cohn

Apr 18, 2019

• Business

Kevin Plank earned $6.6 million last year, Under Armour reports

Under Armour CEO and chairman Kevin Plank earned $6.6 million last year, with the value of that compensation totaling about half that amount, Under Armour reported.

By Lorraine Mirabella

Mar 27, 2019

• Maryland

AG's office fines Westminster couple for operating $33 million Ponzi scheme

Ronald and Diane Morley, of Westminster were fined almost $4 million by the Maryland Office of the Attorney General for operating a $33 million Ponzi scheme.

• News

How do you sell the mansions and sports cars of alleged Towson Ponzi schemer? It's not cheap work

A team of attorneys and investigators has billed $500,000 for 44 days of work to begin to sell of the valuables of Kevin Merrill, a Towson man who prosecutors say funded a lavish lifestyle through a Ponzi scheme.

By Tim Prudente

Jan 17, 2019

• Maryland

2018 in Baltimore business: Broken deals, layoffs and closings, but also new development and hope for future

Baltimore-area businesses weathered failed deals, layoffs, closings and restructuring in 2018. But some started new chapters by expanding or merging, and new development sprouted all over and one new industry spread like a weed.

• Business

New CEO of General Electric resigns from board of T. Rowe Price

H. Lawrence “Larry” Culp Jr. resigned from T. Rowe Price Group’s board of directors, less than a week after he was named chairman and CEO of General Electric Co.

• Business

Baltimore Sun parent Tronc changing name back to Tribune Publishing

Tronc has shed its much-derided corporate moniker and reverted to its legacy name, Tribune Publishing. The name change will take effect after the market closes Tuesday.

• News

Feds say Towson millionaire funded lavish lifestyle with elaborate Ponzi scheme

Kevin Merrill was arrested Tuesday at his $1.06 million home in Towson. He and his business partner, Jay Ledford, 54, of Texas and Nevada, have been indicted on federal charges of wire fraud, identity theft and money laundering. Both men face more than 200 years in federal prison.

• Opinion

Robert B. Reich: The three big lessons we didn't learn from the economic crisis

Robert Reich outlines three big lessons Americans should have learned from the Great Recession.

• Business

Sinclair and Tribune considering options for stalled $3.9 billion merger as financing expires

Sinclair Broadcast Group continues to work with Tribune Media Co. to win approval of their controversial proposed $3.9 billion merger despite hitting a potentially deal-ending roadblock with federal regulators last month.

By Lorraine Mirabella

Aug 8, 2018

• Politics

Maryland senators ask Treasury panel to investigate Russian oligarch's ties to state election contractor

Maryland's U.S. senators Ben Cardin and Chris Van Hollen on Tuesday asked Treasury Secretary Steven T. Mnuchin to investigate a Russian investor's ties to a company that manages the state's election technology.

By Doug Donovan

Aug 7, 2018

• Opinion

Md. must cut ties with Russian-owned ByteGrid

There’s only one way for Maryland officials to do right by voters now: Tear up the state’s agreement with its elections contractor and remove their data from the vendor, ByteGrid, which has Russian investors, including an oligarch connected to Vladimir Putin. Cut it off — immediately.

• Business

Legg Mason sets aside $67 million to resolve Libya investigation

Legg Mason expects to pay $67 million to settle a U.S. probe of one of its affilaties that managed investments for the Libyan government during the rule of Muammar el-Qaddafi.

By Lorraine Mirabella

Jun 1, 2018

• Business

Sinclair Broadcast Chairman Smith earned $6.6 million last year

David D. Smith, executive chairman of Sinclair Broadcast Group, earned $6.64 million last year, an increase of nearly 28 percent over his 2016 compensation.

By Lorraine Mirabella

Apr 26, 2018

• Business

SEC launches ad campaign to remind investors: If it sounds too good to be true...

The U.S. Securities and Exchange Commission plans to begin running public service announcements around the country — and in Baltimore — to remind viewers of this investment adage and refer them to its information website for investors: Investor.gov.

By Christopher Dinsmore

Apr 17, 2018

• Business

Under Armour CEO Kevin Plank earned $2.2 million in 2017

Kevin Plank earned $2.2 million as Under Armour CEO in 2017, adjusted for the loss of $2 million in performance-based stock options.

By Lorraine Mirabella

Mar 28, 2018

• Obituaries

Margaret A. Reigle, who founded property-rights group Fairness to Land Owners Committee, dies

Margaret A. Reigle, founder and chairwoman of the Fairness to Land Owners Committee, the largest and most influential national grassroots private property rights organization, died March 2 from dementia at Symphony Manor, a Roland Park assisted-living facility. She was 73.

By Frederick N. Rasmussen

Mar 9, 2018

• Opinion

Robert B. Reich: The unconscionable conflicts of Jared Kushner

It appears Jared Kushner is using his White House perch to make money for himself, just as his father-in-law is, says Robert Reich.

• Business

McCormick & Co. CEO earned $9 million in 2017, a 39 percent jump

Lawrence E. Kurzius, CEO of Hunt Valley-based McCormick & Co. Inc, earned more than $9 million in compensation last year, a nearly 39 percent increase.

By Lorraine Mirabella

Feb 15, 2018

• Opinion

Reich: Trump's tax cut is fueling stock buybacks, not wage increases

The president's tax cut is fueling corporate stock buybacks, not wage increases, says Robert Reich.

• Business

Fifth CEO of Osiris Therapeutics since 2016 to resign on Friday

Osiris Therapeutics announced that Linda Palczuk, its fifth CEO since 22016, has resigned effective Friday.

By Christopher Dinsmore

Feb 7, 2018

• Business

Maryland AG orders halt to Towson investment advisory in former Everest offices

Maryland's Attorney General has ordered Towson investment advisory High Point Wealth Management to halt the business it operates in the former offices of Everest Wealth management, which had its registration revoked last year.

By Lorraine Mirabella

Feb 2, 2018

• Business

T. Rowe Price to take $71 million charge related to federal tax reform

T. Rowe Price Group said it must take a $71 million charge against its 2017 earnings as a result of the federal tax reform enacted in December by Congress.

By Christopher Dinsmore

Jan 23, 2018

• Business

Opponents of Sinclair/Tribune merger say reports of possible Sinclair fine by FCC should raise concern

Opponents of Sinclair Broadcast Group's proposed acquisition of Tribune Media are reacting to reports that the Federal Communications Commission plans to fine Sinclair $13.3 million over undisclosed advertisements.

By Lorraine Mirabella

Dec 16, 2017

• Health

Hopkins partners with investment management firm to boost early stage research

Deerfield Management will provide $65 million in funding to help Johns Hopkins scientists develop early stage therapeutic research.

• Business

Once a legend, then a pariah, Baltimore's Bill Miller is staging one of Wall Street's most closely watched comebacks

For more than 30 years, giving your money to Bill Miller at Legg Mason was one of the most reliable ways to turn a profit. He beat the returns on the benchmark

• Business

Personal Genome Diagnostics raises $65 million in ongoing financing round

Personal Genome Diagnostics, a Baltimore-based cancer diagnostics company, has raised $65 million in an ongoing equity financing round.

By Sarah Gantz

Nov 3, 2017

• Business

SEC charges Osiris Therapeutics and four former executives with accounting fraud

The U.S. Securities and Exchange Commission charged the Columbia biotechnology company Osiris Therapeutics and four of its former executives with accounting fraud, the federal agency announced late Thursday.

• Business

Under Armour brings in new president; Plank remains CEO

Under Armour founder and CEO Kevin Plank will step back from his role of president in a management shakeup announced Tuesday.

By Lorraine Mirabella

Jun 27, 2017

• Politics

Trump, opponents celebrated ending a federal rule, but the fight isn't over — and it could have lasting impact

When President Donald J. Trump put his name to the first bill to repeal an Obama-era federal regulation four months ago, he framed the "big signing" as part of

By John Fritze

Jun 24, 2017

• Business

Sears will close stores at Hunt Valley Towne Centre and in Hagerstown

Sears will shutter two Maryland stores in its latest round of closings, including at Hunt Valley Towne Centre in Baltimore County and in Hagerstown.

By Lorraine Mirabella

Jun 23, 2017

• Business

Sears Corp. closing 66 more stores across the country, including Elkton Kmart

In its latest wave of cuts, Sears Holdings Corp. will close 66 Sears and Kmart stores across the country, according to a person with knowledge of the situation.

• Sports

Former Oriole Doug DeCinces found guilty of insider trading

Former Angels third baseman Doug DeCinces was convicted Friday of insider trading stemming from allegations that he received stock tips from a neighbor

By Hannah Fry

May 12, 2017

• Legal Matters:

If it seems too good to be true, it might be fraud

A television series where you don't want to be eligible for an interview is "American Greed," a CNBC program that depicts frauds where people lose thousands of

• Business

Under Armour co-founder takes on strategic advisor role

Kip Fulks, who co-founded Under Armour with CEO and Chairman Kevin Plank, is taking on the role of strategic advisor to the Baltimore-based company.

By Lorraine Mirabella

May 9, 2017

• Business

Laureate Education plans to repay debt through sale of $800 million in senior notes

Laureate Education Inc., the Baltimore-based company that owns and operates universities around the world, is planning to sell up to $800 million in senior notes to repay debt.

By Lorraine Mirabella

Apr 17, 2017

• Business

Laureate Education posts $38 million profit in fourth quarter

Laureate Education, a Baltimore-based company that owns and operates universities around the world, reported a fourth quarter profit after posting a loss in the first quarter of last year

By Lorraine Mirabella

Mar 29, 2017

• Business

Osiris restates financial reports to show $10 million loss in 2014

Osiris Therapeutics Inc., a Columbia-based biotechnology firm that had its stock delisted from the NASDAQ earlier this month, said Monday it completed a previously announced restatement of 2014 financial statements to show a bigger loss than initially reported

By Lorraine Mirabella

Mar 27, 2017

• Business

Baltimore-based Cerecor faces Nasdaq delisting notice

Cerecor, a Baltimore pharmaceutical development firm that went public in October 2015, has been notified that its stock no longer qualifies for listing on the Nasdaq market because it's been trading under $1 a share for 30 days.

By Christopher Dinsmore

Mar 6, 2017

• Business

Maryland looks to boost business incentives

The Hogan administration is asking the General Assembly for more power to attract companies to Maryland — and to keep those that are here from leaving.

By Natalie Sherman

Mar 4, 2017

• Politics

Congress poised to roll back corruption measure championed by Ben Cardin

Congress is poised to roll back a measure on Friday long championed by Maryland Sen. Ben Cardin that requires oil and gas companies to disclose how much they

By John Fritze

Feb 2, 2017

• Business

Laureate becomes public company again, raising $490 million

Laureate Education, a Baltimore-based company that owns and operates universities around the world, became a public company again on Wednesday, raising about $490 million in its initial public offering.

By Natalie Sherman

Feb 1, 2017

• Business

Laureate looks for almost $500 million from IPO

Laureate Education, a Baltimore-based company that operates universities around the world, said Wednesday it hopes to raise almost $500 million in its previously announced public offering of its stock.

By Natalie Sherman

Jan 18, 2017

• Business

Amid host of challenges, Laureate aims again for IPO

Baltimore-based Laureate Education, which operates universities around the world, is dusting off plans to go public again, despite an array of challenges, including shifting regulatory regimes in key foreign markets, student lawsuits, a corruption investigation tied to a Turkish university and a whistleblower complaint about its accounting practices.

By Natalie Sherman

Dec 24, 2016

• Business

Apollo Global, Abraaj Group invest in Laureate before possible IPO

Laureate Education, a Baltimore-based firm that operates universities around the world, is planning to raise $383 million by selling stock privately to a group of six investors that include Apollo Global Management and The Abraaj Group.

By Natalie Sherman

Dec 21, 2016

• Opinion

Liar, liar, pants on fire

Nearly 40 years ago, Sissela Bok, wife of former Harvard University president, Derek Bok, wrote "Lying: Moral Choice in Private and Public Life." The book, with its detailed analyses of causes and consequences, was much acclaimed when it first appeared in 1978 and is still widely used in classrooms today. Unfortunately, perhaps in many of these same classrooms, cheating among students is rampant.