White-Collar Crime

LightSquared Inc.’s recently overhauled restructuring plan, which faces objections from certain creditors, is currently the best option on the table, say the wireless venture’s independent directors. Read the Daily Bankruptcy Review article via The Wall Street Journal.

Plastic-container maker Constar International Holdings LLC on Thursday returned to bankruptcy for the third time, and is marching toward the auction block. Read the Daily Bankruptcy Review article here.

Discount retailer Loehmann’s filed for Chapter 11 protection for the second time since 2010. Read the Daily Bankruptcy Review article here.

The operator of the Fox & Hound and Champps restaurants filed for Chapter 11 protection Sunday. Read the DBR Small Cap article here.

Keith Simmons is not a household name. His Ponzi scheme, which was uncovered in 2009, cost his victims more than $35 million, a much smaller figure than, say, the $20 billion fraud perpetrated by Bernie Madoff (which came to light five years ago Wednesday) or R. Allen Stanford’s $7 billion scam.