CNBC's Scott Cohn looks back at the Bernie Madoff ponzi scheme and reports on the latest efforts to recoup the lost assets of his victims.» Read More
Allen Stanford, the alleged mastermind of a $7 billion fraud, is back in his jail cell after suffering a mild concussion, broken nose and two black eyes in a prison brawl last week, his lawyer said on Monday.
Irving H. Picard, the court-appointed trustee hunting down any remaining spoils of Bernard L. Madoff’s giant Ponzi scheme, plans to sue Mr. Madoff’s two sons, his niece and his brother this week, seeking the return of $198 million.
The SEC will discuss rules to improve oversight of the credit rating industry as well as a proposed ban on flash trades—or buy and sell orders that exchanges send to a specific group of participants before revealing them publicly.
No one can know exactly what Finn M. W. Caspersen, a prominent philanthropist and the heir to the Beneficial Corporation fortune, was thinking when he decided to take his life on Labor Day. But he apparently harbored a secret: He was suspected of dodging many millions in federal taxes.
Exploiting weaknesses in online ad systems is an increasingly common approach for computer criminals around the globe who hope to make a quick buck from the audiences of the sites they attack.
Tips for cultivating marijuana. Testimonials by patients about its medical benefits. Cannabis cooking lessons. Even citations for award-winning strains of pot. Viewers here can now watch, every week, what amounts to a pro-weed news program.
Casinos and lotteries in most states are reporting a downturn in revenue for the first time, resulting in a drop in the money collected by state and local governments, according to new state data.
Convicted swindler Bernard Madoff knew how to deal with pesky Securities and Exchange Commission investigators, and in a 2005 phone conversation caught on tape and obtained by CNBC, he tells associates his secret.
A recent court ruling that forced two ratings companies to defend fraud claims is a "game-changer" for the industry, said David Einhorn, head of Greenlight Capital.
The American Academy of Actuaries, the public face of a behind-the-scenes profession, is in disarray after quietly sacking its incoming president, then trying to conceal both his ouster and an unpleasant secret from his past.
Chinese authorities say the arrests of numerous business executives are part of an anticorruption campaign. But analysts say they're the outgrowth of power struggles within the Communist Party to weaken rivals and their corporate supporters.
A global crackdown on bank secrecy and offshore tax havens is gaining steam due to the worldwide financial crisis, the head of the OECD told CNBC.
Dozens of financial advisors for the defunct Stanford Financial Group, which sold millions of dollars worth of allegedly fraudulent certificates of deposit to unsuspecting customers, were added to a federal lawsuit by the court-appointed Receiver in the case.
Securities and Exchange Commission Inspector General David Kotz has issued his long-awaited report on how the agency missed the Bernard Madoff Ponzi scheme.
The publicity of an investigation of more than 4,000 overseas bank accounts will likely arouse suspicion among many exes, leading to the reopening of a number of divorce cases. But cheated spouses don't have to wait for IRS notification to confront their suspicions.
R. Allen Stanford’s relationship with the chief regulator of his Antigua bank was closer than most. At a meeting in 2003, they became blood brothers, cutting their wrists and mixing their blood in a “brotherhood ceremony” that Mr. Stanford’s chief financial officer said promoted an elaborate scheme to hide a multibillion-dollar fraud from American and other regulators.
The chief financial officer of accused swindler Allen Stanford entered a guilty plea on Thursday in a $7 billion fraud case as Stanford was rushed to the hospital with a rapid heart rate.
Fed Chairman Ben Bernanke is one of hundreds of victims of an identity-fraud ring, according to Newsweek magazine.
Accused fraudster Allen Stanford must remain in jail pending his trial, a federal appeals court said Monday. A federal judge in Houston ruled in June that Stanford, indicted on 21 criminal counts in an alleged $8 billion dollars, was a flight risk.
Eric Bartoli was arrested Dec. 11 in Peru. He he been on the run for almost a decade, wanted for his alleged involvement in stealing millions from investors in the U.S. and Latin America.
The accused mastermind of a $65 million scam featured on "American Greed: The Fugitives" has been apprehended by authorities.
Jack Utsick, a concert promoter, flees when the SEC accuses him of running a $300 million investment fraud.