Crime Corporate Fraud

  • Bernard L. Madoff

    Bernard Madoff said he only had about 25 clients but the list of potential victims of what prosecutors say was a $50 billion Ponzi scheme may actually be in the hundreds—or thousands.

  • The latest list of people and organizations who have lost money in Madoff's fund, according to the New York Times.

  • U.S. stock index futures were mixed as contradictory information on a bailout package for troubled automakers were making investors nervous.

  • The heads of the Illinois state legislature said on Tuesday they will call the General Assembly into session to pass legislation on a special election to fill the U.S. Senate seat vacated by President-elect Barack Obama.

  • Rod Blagojevich

    Illinois Gov. Rod Blagojevich was arrested on criminal charges on Tuesday, including trying to sell the U.S. Senate seat being vacated by fellow Democrat President-elect Barack Obama, federal prosecutors said.

  • In an unusual partnership, New York State and federal prosecutors are investigating trading in credit-default swaps, the insurancelike securities that have come under close scrutiny for their role in the financial crisis.


    The Federal Bureau of Investigation is struggling to find enough agents and resources to investigate criminal wrongdoing tied to the country’s economic crisis, the New York Times reports.

  • The Securities and Exchange Commission is investigating whether traders spread rumors to drive down shares of former investment banks Bear Stearns and Lehman Brothers, USA Today reported, citing an SEC subpoena.

  • Why is New York moving to regulate a complicated part of the derivative market? Because no one else was keeping an eye on it, says the state's insurance chief.

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    Indiana has sued Countrywide Financial, becoming the latest state to take the mortgage lender to court over its lending practices.

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    Three more more financial firms, including Merrill Lynch and Goldman Sachs, reached settlements over the sale of auction-rate securities, a $330 billion market that collapsed in February.

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    Merrill Lynch CEO John Thain met with New York Attorney General Andrew Cuomo on Thursday in an attempt to reach a settlement of the auction-rate securities probe, CNBC has learned.

  • Merrill Lynch reached a settlement with Massachusetts over auction-rate securities, the latest in a string a accords between regulators and Wall Street firms over the $330 billion market that collapsed in February

  • Merrill Lynch has until Friday to settle an auction-rate securities case with New York Attorney General Andrew Cuomo's office or it will face a lawsuit, Cuomo warned during a CNBC interview.

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    Regional securities firms are rallying against efforts by New York State Attorney General Andrew Cuomo to have brokerage firms repay investors who purchased auction rate securities.

  • Merrill Lynch will follow Citigroup in cobbling together a settlement for clients who bought auction rate securities.

  • Tone Grant, the former president of Refco, once the largest independent commodities broker, was sentenced to 10 years in prison for his role in a $2.4 billion fraud that involved hiding huge trading losses from clients.

  • Citibank

    Citigroup agreed to buy back more than $7 billion of illiquid auction-rate securities and pay a $100 million civil fine to settle charges it fraudulently misled investors about the debt's risk.

  • Citibank

    Citigroup is in talks with state and federal regulators to resolve allegations of wrongdoing in the auction-rate-securities market that could result in its buying back several billion dollars of the illiquid securities, Wall Street Journal said.

  • A lawsuit against UBS alleging that the Swiss bank engaged in fraud related to holdings of a fund in loss-making company Endwave was dismissed by a New York Supreme Court judge, court documents showed.