Mr. Frenkel was charged with wire fraud in a criminal case stemming from the shopping-mall deal.
It took just three more quick-fire punches from Frenkel to put Maccarinelli down again and end the fight.
Prosecutors accused Frenkel of fraud for providing Citigroup with false information so First Republic could obtain the mortgage loan.
"When the decision-making processes begin to circumvent internal controls, that's when corporate executives begin to cross that line, " said Frenkel.
Andre Frenkel of Ramlort Ltd, a Manchester parallel trader in toiletries, says that he has had to cease importing goods from outside Europe.
In April the feds arrested the escrow agent in the deal, Ephraim Frenkel, filing a criminal complaint in federal court in White Plains, N.
"Golf will be played on Srdj after all, " said Maja Frenkel, the head of Razvoj Golf, the main Israeli investor group behind the project.
Jacob S. Frenkel, a partner with Shulman Rogers in Rockville, Md.
"It does create a dangerous opportunity for insider trading, " Frenkel says.
John Wallenstein, an attorney for Mr. Frenkel, said he had always wondered why Mr. Stern was never charged in the shopping-mall case when his client was.
Frenkel downplayed the suggestion the suit was timed to pressure Goldman and other banks into remaining silent over the financial regulation reforms being discussed in Congress.
Maccarinelli had been ahead on points in the first defence of his European title but was caught by a good left-hook from Frenkel in the seventh round.
Stern told me he used the funds appropriately, but the feds ended up criminally charging Frenkel for providing Citigroup with bogus information as part of their investigation into the Stern loan debacle.
Back in 2007, Mr. Stern was sued in civil court along with his business associate Ephraim Frenkel and First Republic Realty Group by Westland Industries, a California financing company, over the shopping-mall deal.
"The government recognizes that companies fail for business reasons, and most corporate executives do not get prosecuted, " said Jacob Frenkel, a former Securities and Exchange Commission enforcement attorney who is now in private practice.
Genzyme may have complied with disclosure laws, but that doesn't mean it made the right choice, says Jacob Frenkel, a partner at Shulman, Rogers and a former enforcement attorney for the Securities and Exchange Commission.
"We have the government being very aggressive on the concept of criminal intent in jury charges, " said Jacob Frenkel , a former U.S. Securities and Exchange Commission enforcement attorney who now specializes in white-collar defense.
The government may have already made its point loud and clear by striking the non-prosecution agreements with Fannie and Freddie, Frenkel said, which tell other companies there is a strong benefit to cooperating with the feds and turning over all internal evidence of wrongdoing.
FORBES: SEC Targets Fannie, Freddie Execs But May Not Get Their Bonuses
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