Tom Schoenberg

Mar 19, 2025 | bloomberg.com | Tom Schoenberg

When Richard Kallman’s 26-year marriage failed, he arrived at a meeting to hash out the separation, expecting to see his wife and her lawyer. But instead, the couple’s new wealth manager from UBS Group AG showed up and demanded Kallman fork over $9 million. Almost two years later, that allegation is among several laid out in New York state court accusing Ira Walker, a managing director at UBS, of wreaking havoc on Kallman, the heir to a family of New York-area bookdealers.

Mar 19, 2025 | ca.finance.yahoo.com | Tom Schoenberg

The Financial Industry Regulatory Authority and Securities and Exchange Commission, which police brokers and advisers, require that they pitch investments that are in their clients’ “best interest.” Firms are supposed to closely monitor that process. But private interactions can quickly enter legal gray areas, in part because regulators generally leave it to companies to set their own codes of conduct. It’s a contrast with other fields, including health care and law.

Mar 19, 2025 | flipboard.com | Tom Schoenberg

NowGravity may be finally catching up to Elon Musk as Tesla stock tumblesNew York CNN — Elon Musk’s DC power grab hasn’t been the Tesla-stock jet fuel investors were expecting. Tesla shares have fallen more than 40% since January — erasing all of the “Trump bump” that briefly saw the stock gain more than 90% after Election Day.

Mar 18, 2025 | bloomberg.com | Christine Dobby |Ari Altstedter |David Voreacos |Tom Schoenberg

On an overcast spring day in 2021,Da Ying “David” Sze walked out of a four-story concrete warehouse in Queens, New York, carrying several bags full of money. Sze, a father of two in his 40s and the owner of a garment company operating out of the warehouse, placed the bags in a Lexus SUV, then drove with two associates to a bank, where they made several large cash deposits. Unbeknownst to Sze, he was being watched the whole time. Federal agents had been surveilling him for months.

Feb 12, 2025 | news.bloomberglaw.com | Tom Schoenberg |P R Sanjai |Ava Benny-Morrison

In the months since the US criminally and civilly charged Gautam Adani over an alleged bribery scheme, both court dockets have gone quiet. But Asia’s second-richest man has been busy, building a political influence operation in the US spanning white shoe law firms and lobbyists, looking to simultaneously deal with the legal cases and expand his business, according to people with knowledge of the effort.