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Investment Fraud

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  • NEW YORK, Oct 21- Former SAC Capital portfolio manager Mathew Martoma on Tuesday lost a bid to stay out of prison while he appeals his insider trading conviction, three weeks before he is due to begin serving a nine-year sentence. District Judge Paul Gardephe in New York denied Martoma's request for bail pending his appeal, as well as a separate request to delay his...

  • NEW YORK, Oct 20- A Toronto man accused by the U.S. Securities and Exchange Commission of insider trading related to Herbalife Ltd on Monday sued the federal regulator agency to stop it from pursuing its case. In a complaint filed in Manhattan federal court, Jordan Peixoto said the SEC's administrative proceeding against him deprives him of protections he would...

  • Court rejects appeal from Duane Reade Ex-CEO, CFO Monday, 20 Oct 2014 | 9:38 AM ET

    WASHINGTON— The Supreme Court has rejected appeals from two former executives of New York City drugstore chain Duane Reade Inc. who were convicted of securities fraud. The men were convicted of scheming to falsely inflate the income and reduce the expenses Duane Reade reported to investors. Walgreen Co. purchased privately held Duane Reade in 2010..

  • NEW YORK, Oct 16- A former analyst at a San Francisco hedge fund who prosecutors say engaged in an "unparalleled" spree of tipping inside information he obtained from an executive at Foundry Networks Inc was sentenced on Thursday to five years in prison. District Judge Robert Patterson in Manhattan to pay $653,890 in fines and forfeitures for his role in a...

  • Ex-financial analyst facing insider trading charge Tuesday, 14 Oct 2014 | 6:46 PM ET

    NEW YORK— A former senior finance analyst at Merck& Co. is facing an insider trading charge after authorities said Tuesday that he passed secrets to a friend he met at college that earned $722,000 in illegal profits. Zachary Zwerko, 32, was arrested Friday in Cambridge, Massachusetts, where he lives. Authorities said Zwerko fed secrets about plans for...

  • SYDNEY, Oct 10- The former head of China's Hanlong Mining Investment Pty Ltd is being held in custody in Australia on Friday after being extradited from Hong Kong to face more than 100 insider trading charges linked to company takeovers. Hui Xiao, also known as Steven Xiao, is facing 104 charges of trading on inside information linked to Hanlong's 2011 takeover...

  • MELBOURNE, Oct 10- The former head of China's Hanlong Mining Investment Pty Ltd was extradited to Australia from Hong Kong and arrived on Friday to face insider trading charges, Australia's securities watchdog said. Hui Xiao, also known as Steven Xiao, is facing allegations of trading on inside information linked to Hanlong's 2011 takeover bids for...

  • The decision is being closely watched because of the size of the settlement, as well as the significance of a ruling by the SEC on whether victims can indeed be identified in insider trading cases. The SEC was set to decide this week whether it would recommend distributing the settlement money, but instead asked for more time to review material it had received...

  • NEW YORK, Oct 9- A U.S. appeals court ruling on Thursday revived a lawsuit against JPMorgan Chase& Co filed by a former vice president claiming the bank ignored red flags about a client's potential fraud, even after the massive Ponzi scheme operated by Bernard Madoff, another JPMorgan client, was exposed. JPMorgan has rejected Sharkey's allegations and a bank...

  • PARIS, Oct 3- French judges on Friday effectively suspended a trial involving allegations of insider trading in the shares of Airbus Group to allow a higher court to rule on whether the long-awaited procedure was constitutional. Seven current or former managers and two former industrial shareholders are accused of illegally selling shares in what was then...

  • NEW YORK, Oct 8- George Perez, a former computer programmer for Bernard Madoff who was convicted in March of aiding his boss' massive Ponzi scheme, got support from a noteworthy source this week: Madoff himself. In an email filed in Manhattan federal court by Perez's defense lawyers, Madoff described a meeting in which he said he told Perez and another programmer,...

  • The SEC has been seeking an injunction, civil penalties and disgorgement of misappropriated funds, the ruling said. John Nester, a spokesman for the SEC, said on Tuesday the agency was "pleased with the decision." In its lawsuit, the SEC said Fujinaga and MRI International promised to buy accounts receivable from U.S. medical providers at a discount, try to recover...

  • PARIS, Oct 7- Prosecutors in the Airbus insider trading case suffered another setback on Tuesday when a Paris court refused to accept the prosecution dossier, a move which could further delay one of France's most keenly awaited corporate trials. The trial, involving allegations of insider trading in the shares of Airbus Group, formerly known as EADS, had already...

  • PARIS, Oct 7- Prosecutors in the Airbus insider trading case suffered another setback on Tuesday when a Paris court rejected the prosecution dossier, a move which could delay one of France's most keenly awaited corporate trials by up to two years. Judges at the Paris criminal court ordered that the dossier should be sent back to investigating magistrates after...

  • If the SEC rules in their favor, the investors could seek a portion of the $602 million the SEC collected in a settlement from a division of SAC Capital Advisers after former portfolio manager Mathew Martoma was caught trading on secret tips. The SEC will also be weighing in on a long-running debate over whether insider trading is a victimless crime.

  • PARIS, Oct 3- A French corporate trial involving allegations of insider trading in the shares of Airbus Group was effectively suspended on its first day in order to allow a higher court to rule on whether the procedure is constitutional. "I am confident, that once again, it will be demonstrated that these accusations are groundless and should be fully dismissed,"...

  • PARIS, Oct 3- A long-awaited French corporate trial involving allegations of insider trading in the shares of Airbus Group got under way on Friday, marking the climax of an eight-year investigation. Current managers facing trial include John Leahy, the sales chief of planemaking subsidiary Airbus, who was not present on the opening day but is expected to give...

  • French court to begin Airbus insider trading trial Thursday, 2 Oct 2014 | 8:19 PM ET

    PARIS, Oct 3- A long-awaited French corporate trial involving allegations of insider trading in the shares of Airbus Group gets under way on Friday, marking the climax of an eight-year investigation. Seven current and former managers at Europe's largest aerospace group, and two former industrial shareholders, are accused of trying to profit from inside...

  • NEW YORK, Oct 2- A former executive of Foundry Networks Inc was found guilty on Thursday of leaking inside information about the data-equipment maker and enabling a San Francisco hedge fund to earn millions of dollars. David Riley, Foundry's former chief information officer, was found guilty by a Manhattan federal jury of two counts of securities fraud and one...

  • Oct 1- A former executive at GSI Commerce Inc was sentenced on Wednesday to 15 months in prison for insider trading related to the 2011 takeover of the e-commerce company by online retailer eBay Inc..