SEC

Eric Schmidt, the executive chairman of Google Inc. (Nasdaq: GOOG), sold another 50,000 shares of the company worth around $34.2 million, according to documents filed Wednesday with the Securities and Exchange Commission.

After initially criticizing Nasdaq OMX Group for its response to Facebook's botched initial public offering, trading firm Knight Capital Group Inc said it accepted the exchange's latest plan to pay back brokers a portion of their losses.

Patent expert Alexander Poltorak, CEO and chairman of General Patent Corporation, advocates multi-tier patent system, specialized patent courts and arbitration forums as the key facilitators for the speedy resolution of increasing number of patent disputes and dubs patents as the new currency in Knowledge-Based Economy.

Eric Schmidt, the executive chairman of Google Inc. (Nasdaq: GOOG), has sold 103,193 shares of the company worth around $69.3 million, according to Tuesday filings with the Securities and Exchange Commission.

The receiver who was handed control of Paul Burks' company Rex Venture Group and ZeekRewards following its forced closure by the SEC told reporters that trying to following the money collected through hundreds of thousands of Zeek affliates has been like "drinking from a firehose."

ZeekRewards, Rex Venture Group and its founder, accused in an alleged Ponzi scheme, now face a federal lawsuit brought by former "affiliates."

Each week, we pick the biggest, most dramatic, or most interesting winners and losers in money and business. Our picks for Aug. 19-24 include the Federal Reserve Bank of New York and Eli Lilly & Co. on one side, and ZeekRewards and Best Buy Co. Inc. on the other side.

Plaintiffs for the class-action lawsuit filed against Rex Venture Group, ZeekRewards, and the company's found and CEO Paul Burks are being represented by James "Cal" Cunningham, a local politician and former member of the North Carolina Senate.

Following reports that ZeekRewards.com and Zeekler.com were shuttered by the SEC after being declared a Ponzi scheme, over 13,000 users and Zeek affiliates have flocked to an online petition to defend the company from charges against its founder Paul Burks and his company Rex Venture Group.

Jesse Robredo, a Filipino politician who served as Secretary of the Interior and Local Government in the administration of President Benigno Aquino III, was found dead in a plane wreckage.

ZeekRewards and Zeekler have been shut down, but the consequences and fallout is far from over.

Users of ZeekRewards.com and Zeekler.com are searching for answers -- and their lost money -- after the Securities and Exchange Commission charged the sites' owner, Paul Burks, with an alleged $600 million Ponzi scheme. "I was in shock," said a Zeek member who used the site for five months.

Zeekrewards.com was shut down by the Securities and Exchange Commission after the regulating agency declared it a $600 million Ponzi scheme, according to reports.

Trading in U.S. stocks has been going on at a snail's pace recently, a fact market-watchers are blaming on policy uncertainty, but could also be the result of investors fed up with the fragmented, unpredictable nature of the market.

JPMorgan Chase & Co. (NYSE: JPM)'s multibillion-dollar "London Whale" trading mess sent some well-known money managers running for the exit, but new regulatory filings show that several big hedge-fund players loaded up on JPMorgan as they saw the stock's 22 percent drop in the second quarter as a buying opportunity.

Software giant Microsoft announced the hardware partners for Windows RT edition. The Windows RT tablets will be accompanied by ARM processor.

Google's decision to cut 20 percent of Motorola's workforce, totaling 4,000, reignited fears that Google valued Motorola's patents dearly when it acquired the mobile manufacturer in May.

Archstone, the largest private U.S. residential landlord, will benefit from a strong urban portfolio and experienced management team as it prepares to go public for the second time, said analysts.

Shares of Google (Nasdaq: GOOG), the No. 1 search engine, set a five-month high Monday after the company advised the U.S. Securities and Exchange Commission of plans to fire 4,000 Motorola employees, two-thirds outside the U.S.

Each week, the International Business Times money team picks three winners and three losers. Our choices are made based upon the amount of money involved and how compelling, dramatic, or just generally interesting the story behind the money is.

The Justice Dept. said there was "not a viable basis to bring a criminal prosecution" against Goldman Sachs, quietly ending a yearlong investigation into allegations the firm bet against the same subprime mortgage-backed securities that it also sold to its clients.