CNBC's Scott Cohn reports Hampshire Hotel CEO Sant Singh Chatwal pleaded guilty in a campaign scheme.» Read More
The trustee seeking money for victims of Bernard L. Madoff’s fraud has sued Sonja Kohn, an Austrian banker, seeking $19.6 billion in damages and accusing her of masterminding a 23-year conspiracy that played a central role in financing the gigantic Ponzi scheme, the New York Times reports.
Luxist reports that billionaire Formula 1 chief Bernie Ecclestone has turned a nasty black eye from a violent mugging into an advertisement for the high-end watch he lost.
We knew immediately this was going to be the largest fraud ever, by a long shot. And it was. $18 billion. Almost ten times larger than any other Ponzi scheme. It became clear very early that the direct Madoff investors were doomed.
In late 2006, the German engineering giant Siemens, one of world’s largest companies, was engulfed in a corruption scandal.
We got new information today about how the FBI attempted to pursue Steven Cohen at SAC Capital Advisors during its ongoing investigation of insider trading.
So-called marketing trips by senior executives, sponsored by the big investment banks certainly not small research firms like Broadband Research are very common, and are often great trading opportunities, writes John Kinnucan.
As Attorney General Eric H. Holder Jr. promotes his crackdown on financial fraud, it’s worth looking critically at who is being singled out and why that might be. The New York Times reports.
HSBC continued to act for funds that fed money into Bernard Madoff’s Ponzi scheme in spite of repeated warning from the bank’s own executives and outside auditors about the “baffling” and potentially fraudulent structure of the fund, according to a US lawsuit launched against the global bank. The FT reports.
Newly released documents detail 12 years of fits and starts at the Securities and Exchange Commission as financier Allen Stanford was allegedly running a global Ponzi scheme.
Attorney General Eric Holder announced on Monday that federal authorities have charged more than 500 people as a result of what they are calling “Operation Broken Trust,” a nationwide crackdown on investment fraud.
Hong Kong goldsmiths have been sold hundreds of ounces of fake gold this year in one of the most sophisticated scams to hit the Chinese territory’s gold market in decades.
Secret, court-approved wiretaps put in place more than two years ago are now being used by prosecutors in a widening inquiry of securities fraud and insider trading involving hedge funds and consultants that provide industry research, according to court documents and interviews with people close to the investigations. The New York Times reports.
The perception that the US takes insider trading more seriously is widely shared by traders and regulators. But that is starting to change in two critical ways. The FT reports.
Tom DeLay, one of the most powerful and divisive Republican lawmakers ever to come out of Texas, was convicted Wednesday of money-laundering charges in a state trial, five years after his indictment here forced him to resign as majority leader in the House of Representatives, the New York Times reports.
In what may be today's most titillating—though maddeningly vague—newsflash, SAC Capital Advisors informed investors that they have received a government subpoena.
Trading in shares of the Janus Capital Group have been halted, apparently in anticipation of an announcement that federal authorities are looking at Janus as part of their insider trading dragnet.
John Kinnucan , an independent analyst, said the FBI approached him and said, "there was a very large insider trading ring investigation that they were conducting and one of my clients was a focus of the probe and they wanted my help in basically incriminating this individual."
John Kinnucan told CNBC that the FBI said "there would be trouble" unless he agreed to help them incriminate one of his clients.
Federal authorities are at an advanced stage of an insider-trading investigation that could result in criminal charges or significant civil fines against Wall Street traders and executives, the New York Times reports.
When the toasts are raised here next year at the opening of the world’s tallest communications tower, yakuza gangsters will not be celebrating. The New York Times explains.
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"$UDDEN DEATH"/ "HIP HOP HUSTLE" - NCAA basketball coaches are among the victims who get financially slam dunked in a $39 million scam out of Houston. And a wannabe rap star claims he's working with a famous Hollywood star to collect money to produce a movie about his 'gangsta' life. But there is no movie only hip-hop star livin'.
With investigators eager to confirm that Joel Salinas is running a $39 million investment fraud, he runs out of options and sets off on a final escape.
The $1.5 million raised to produce a movie was a scam. Instead Eric Jagclicic spent investor money on fancy cars, exotic pets, and more.