Crime Corporate Fraud

  • Norman Seabrook, the Correction Officers' Benevolent Association's ex-president, and Murray Huberfeld, a longtime associate of hedge fund manager Platinum Partners, pleaded not guilty to conspiracy and honest services wire fraud charges in Manhattan federal court. Prosecutors said Seabrook, 56, accepted a $60,000 bribe in 2014 orchestrated by Huberfeld,...

  • Trendon Shavers, who operated Bitcoin Savings and Trust, was also ordered by U.S. Shavers, a Prosper, Texas, resident who went by "pirateat40" online, was arrested in November 2014, two months after a federal judge in Texas ordered him to pay $40.7 million in a related U.S. Securities and Exchange Commission civil lawsuit. Prosecutors said from 2011 to 2012, Shavers,...

  • LONDON, July 21- HSBC is reviewing a past investigation of forex trades after the arrest on Tuesday night of a senior manager in New York for alleged fraud, according to a source familiar with the matter. Johnson was on Wednesday charged in a criminal complaint filed in a federal court in Brooklyn with engaging in a scheme to front-run a $3.5 billion transaction by...

  • Jason Galanis, 46, of Los Angeles, admitted to securities fraud, investment adviser fraud, and two conspiracy charges at a hearing before U.S. The case is one of two pending against Jason Galanis, who was nicknamed "Porn's New King" by Forbes magazine in 2004 after buying the nation's largest processor of credit card payments for internet pornography.

  • NEW YORK, July 21- An investment banker once dubbed "Porn's New King" and accused of engineering a scheme with his father and two brothers to reap illegal profits by manipulating a reinsurer's stock price pleaded guilty to fraud charges on Thursday. Jason Galanis, 46, of Los Angeles, admitted to securities fraud, investment adviser fraud, and two conspiracy...

  • NEW YORK, July 20- A senior HSBC Holdings Plc manager has been arrested and charged alongside a former foreign exchange executive with engaging in a scheme to front-run a $3.5 billion transaction by one of the bank's clients, U.S. prosecutors said on Wednesday. Mark Johnson, HSBC's global head of foreign exchange cash trading in London, and Stuart Scott, its...

  • NEW YORK, July 20- A 73- year-old Californian charged with running a scheme with three of his sons to manipulate the stock price of reinsurer Gerova Financial Group Ltd and then dump the shares at inflated prices pleaded guilty to fraud on Wednesday, U.S. prosecutors said. John Galanis, of Oceanside, California, admitted to securities fraud and conspiracy charges...

  • NEW YORK, July 20- A senior manager at HSBC Holdings Plc has been arrested in New York and charged along with a former foreign exchange executive for engaging in a scheme to defraud one of the bank's clients in a $3.5 billion currency transaction. Mark Johnson, HSBC's global head of foreign exchange cash trading in London, and Stuart Scott, the bank's former head of...

  • NEW YORK, July 18- A former portfolio manager at Visium Asset Management LP pleaded not guilty on Monday to charges that he engaged in a scheme to defraud investors by inflating the value of a bond fund and overstating its liquidity. Stefan Lumiere, 45, entered his plea to conspiracy, securities fraud and wire fraud charges in federal court in Manhattan, about a...

  • FTC determines Herbalife not a pyramid scheme: DJ

    Shares of Herbalife are up in the pre-market on word the FTC is expected to announce a settlement today with Herbalife.

  • NEW YORK, July 14- The former chief executive of Kit Digital Inc was extradited on Thursday from Colombia to face U.S. charges that he engaged in a wide-ranging market manipulation and accounting fraud scheme at the now-bankrupt technology company, prosecutors said. Those newly-announced defendants include Omar Amanat, an investor in media, finance and...

  • NEW YORK, July 13- A former investor in the studio behind the "Twilight" movie franchise was arrested on Wednesday on charges that he participated in fraudulent schemes involving a bankrupt technology company called Kit Digital Inc.. Omar Amanat, an investor in media, finance and technology companies, was charged in an indictment filed in Manhattan federal...

  • NEW YORK, July 13- A self-described New York entrepreneur was arrested on Wednesday on charges that he conspired to hide the losses suffered by a hedge fund's clients in a scheme that involved bankrupt video technology company Kit Digital Inc.. Amanat, who was an investor in "Twilight" studio Summit Entertainment before its 2012 sale to Lions Gate Entertainment...

  • Steven McClatchey, 58, pleaded guilty in Manhattan federal court to conspiracy and securities fraud charges, admitting that he provided stock tips to the plumber, Gary Pusey, who prosecutors say made $76,000 through his insider trading. McClatchey, who worked at Barclays from 2008 to 2015, was arrested on May 31 amid a resurgence of insider trading cases in...

  • LONDON, July 4- When David Green was appointed head of Britain's Serious Fraud Office in 2012 he predicted he would be judged by how he fared prosecuting allegations of global interest rate rigging, a symbol of banker greed during the financial crisis. But the convictions of three former Barclays traders and a guilty plea from another in London's third Libor...

  • *Five now convicted in UK on Libor-rigging charges. LONDON, July 4 Reuters)- Three former Barclays traders have been found guilty by a London jury of conspiring to fraudulently manipulate global benchmark interest rates in a stark warning to junior bankers and a major victory for Britain's Serious Fraud Office (SFO). The verdicts bring to five the number of people...

  • JERUSALEM, July 4- Nochi Dankner, once one of Israel's most powerful tycoons who lost his business empire in the global economic downturn, faces up to five years in jail after a Tel Aviv court found him guilty on Monday of manipulating share prices. But in February 2012, after things had turned sour for his business empire, Dankner propped up the price of shares in his...

  • LONDON, July 4 Reuters)- Three former Barclays traders have been found guilty by a London jury of conspiring to fraudulently manipulate global benchmark interest rates in a stark warning to junior bankers and a major victory for Britain's Serious Fraud Office. Calcutta- born Jay Merchant, 45, the most senior of the men on trial, was convicted unanimously while...

  • LONDON, July 4 Reuters)- Three former Barclays traders have been found guilty by a London jury of conspiring to fraudulently manipulate global benchmark interest rates in a success for the UK's Serious Fraud Office (SFO). Calcutta- born Jay Merchant, 45, the most senior of the men on trial, was convicted unanimously while 35- year-old British former Libor...

  • The SEC, which confirmed the verdict on Friday, said the jury after several days of deliberation had been unable to reach unanimous verdicts on its fraud or lying to auditor claims. The SEC sued Goldstone, Simmons and former Thornburg chief accounting officer Jane Starrett in 2012, alleging they hid the company's fast-deteriorating financial condition at...