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Investment Fraud

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  • In total, SAC Capital has agreed to pay $1.8 billion to resolve criminal and civil probes into insider trading. SAC Capital also agreed to be placed on probation for five years, and employ a compliance consultant, former federal prosecutor Bart Schwartz. The sentencing marks the end of an era for SAC Capital, which by last year had managed $15 billion of assets.

  • To resolve criminal and civil probes into insider trading, SAC Capital has agreed to pay more than $1.8 billion in total. SAC Capital also agreed to be placed on probation for five years, and employ a compliance consultant, former federal prosecutor Bart Schwartz.

  • The sentencing marks the end of an era for SAC Capital, a hedge fund that last year managed $15 billion but found itself in federal investigators' cross-hairs. An indictment unveiled in July alleged systemic insider trading took place at SAC Capital involving the stocks of more than 20 publicly-traded companies from 1999 through 2010..

  • US judge sentences SAC Capital in $1.8B fraud deal Thursday, 10 Apr 2014 | 3:03 AM ET

    NEW YORK— The once high-flying hedge fund SAC Capital was sentenced on criminal fraud charges Thursday under a $1.8 billion deal that prosecutors say included the largest criminal fine ever imposed in an insider trading case.

  • NEW YORK, April 8- A U.S. judge on Tuesday raised a series of questions about a proposed $1.2 billion insider trading accord with billionaire Steven Cohen's investment firm, formerly known as SAC Capital Advisors, in advance of its sentencing on Thursday.

  • SEC charges Visionary Trading     Friday, 4 Apr 2014 | 12:08 PM ET

    CNBC's Bob Pisani reports the SEC has charged New Jersey brokerage firm, Visionary Trading, with manipulative trading.

  • Holder: Justice investigating high-speed trading Friday, 4 Apr 2014 | 10:27 AM ET

    The Department of Justice is investigating high-frequency stock trading to see if any of the practices violate insider trading laws, U.S. New York Attorney General Eric Schneiderman has also campaigned against high-frequency stock trading, saying it gives firms an unfair advantage and erodes public confidence in the stock market.

  • ATTORNEY GENERAL ERIC HOLDER CONFIRMS JUSTICE DEPARTMENT IS INVESTIGATING HIGH-SPEED TRADING FOR POSSIBLE INSIDER TRADING.

  • April 4- Billionaire investor Steve Cohen- owned SAC Capital Advisors LP's lawyers proposed to retain corporate adviser and former federal prosecutor Bart Schwartz as a compliance consultant while the hedge fund pleads guilty to insider trading charges.

  • WASHINGTON, April 3- A Maryland man will plead guilty to charges of conspiring to commit insider trading, in what marks the 10th criminal prosecution stemming from an insider-trading ring orchestrated by a former Wells Fargo investment banker, the U.S. Justice Department said.

  • NEW YORK, April 2- A former investment banker at Evercore Group pleaded guilty on Wednesday to criminal charges that he engaged in insider trading and used proceeds to pay a one-time mistress to support their child.

  • District Judge Jed Rakoff in Manhattan said the "substantial additional information" provided by the SEC, "the unique circumstances of this case, and further guarantees of prompt payment of the proposed fines" justified approval, according to an order made public on Wednesday.

  • NEW YORK, April 2- A New York state judge has dismissed a lawsuit brought by an investor in a fund managed by Tremont Group Holdings, one of the largest feeders of funds into Bernard Madoff's Ponzi scheme.

  • District Judge Jed Rakoff in Manhattan said the "substantial additional information" provided by the SEC, "the unique circumstances of this case, and further guarantees of prompt payment of the proposed fines" justified approval, according to an order made public on Wednesday.

  • District Judge Jed Rakoff in Manhattan said the "substantial additional information" provided by the SEC, "the unique circumstances of this case, and further guarantees of prompt payment of the proposed fines" justified approval, according to an order made public on Wednesday.

  • NEW YORK, March 31- JPMorgan Chase& Co must face a lawsuit from shareholders accusing it of securities fraud by misleading them about its ability to manage risk, which surfaced when it lost $6.2 billion in the "London Whale" scandal.

  • SEC fraud trial over Texas tycoons to start Monday, 31 Mar 2014 | 8:53 AM ET
    Samuel Wyly in 2010

    The case, which dates back years, accuses Samuel Wyly and his late brother, Charles, engaged in a $550 million fraud.

  • Still, it's the more mundane details such as due diligence in hiring that could choke Oppenheimer and Morgan Stanley if regulators extend their investigations, lawyers said.

  • BOSTON, March 25- Weight loss and nutrition company Herbalife launched a website on Tuesday that details its business practices and counters claims made by billionaire investor William Ackman that it is running an illegal pyramid scheme.

  • Ex-Goldman director's insider conviction upheld Tuesday, 25 Mar 2014 | 12:13 PM ET
    Rajat Gupta

    A federal appeals court on Tuesday rejected a bid by former Goldman Sachs director Rajat Gupta to overturn his insider trading conviction.

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