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Investment Fraud

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  • BOSTON— A Massachusetts financier has been indicted on fraud and obstruction of justice charges for allegedly defrauding investors in a $40 million mutual fund. Daniel Thibeault, 40, of Framingham, has been charged with securities fraud, wire fraud, aggravated identity theft, and obstruction of justice, according to U.S. Thibeault, a 2004 graduate of Harvard...

  • RIO DE JANEIRO— A judge has suspended auctions of big-ticket assets belonging to Eike Batista, the business magnate who once was Brazil's richest man and now faces charges of insider trading and market manipulation. Federal Judge Messod Azulay ordered the postponement of auctions scheduled for this week and early next month. More than $1 billion worth of...

  • NEW YORK, Feb 20- Victims of Bernard Madoff's massive fraud are not entitled to inflation or interest adjustments on their claims, a federal appeals court ruled on Friday, in a decision that could speed the return of more than $1 billion to the swindler's former customers. Irving Picard, the trustee liquidating Bernard L. Madoff Investment Securities LLC, said he...

  • Ex-Qualcomm manager pleads guilty to insider trading Thursday, 19 Feb 2015 | 8:56 PM ET

    Derek Cohen, 52, of San Diego, entered the plea in federal court and could face up to 20 years in federal prison and a $5 million fine when he is sentenced. Cohen was a sales director at San Diego- based Qualcomm Inc. in January 2011 when he and others learned that the wireless technology giant planned to acquire Atheros Communications Inc.. They bought more than...

  • NEW YORK— A former Merck& Co. senior finance analyst pleaded guilty Thursday to insider trading charges, admitting passing tips to a friend who prosecutors say used them to make $722,000 illegally in the stock market. Zachary Zwerko, 32, of Cambridge, Massachusetts, pleaded guilty in Manhattan federal court to conspiring to commit securities fraud and three...

  • Who’s behind this company’s share price drop? Wednesday, 18 Feb 2015 | 4:30 AM ET

    Iceberg Research, the anonymous commenter that caused shares in Singapore-listed Noble Group to tumble this week, may soon find itself unmasked.

  • This firm's shares get hit after Enron comparison Tuesday, 17 Feb 2015 | 6:16 AM ET

    Noble's shares dropped for a second day despite analysts' skeptical view of an anonymous, critical research report comparing the company to Enron.

  • Are short sellers gunning for Singapore again? Monday, 16 Feb 2015 | 3:37 AM ET
    Pedestrians exit an escalator that runs past an electronic screen and ticker board that indicates stock figures at the Singapore Exchange Ltd. (SGX) headquarters.

    Noble Group has become the latest target of a critical research report, sending its shares sliding, but this time, it's spurred questions about the report's writer.

  • NEW YORK, Feb 11- An administrative judge signaled on Wednesday that he may dismiss U.S. Securities and Exchange Commission charges against two former Wells Fargo& Co employees following a appellate court ruling limiting the reach of insider trading laws. Citing the ruling by the 2nd U.S. Circuit Court of Appeals in New York, Patil ordered the SEC to provide...

  • Payout to Madoff victims tops $7.2 bln Monday, 9 Feb 2015 | 11:59 AM ET

    NEW YORK, Feb 9- The trustee liquidating Bernard Madoff's firm on Monday said he is distributing another $355.8 million to the swindler's victims, bringing the total payout to more than $7.2 billion. Irving Picard, the trustee, said the payout began on Feb. 6, and covers claims by fraud victims with 1,077 accounts at the former Bernard L. Madoff Investment...

  • Intuit halts state filings on fraud concerns  Friday, 6 Feb 2015 | 12:00 AM ET

    Here's what to do if you filed your taxes through Intuit's software

  • NEW YORK, Feb 5- A former SAC Capital Advisors LP portfolio manager avoided prison on Thursday after helping federal authorities win a guilty plea and $1.8 billion in financial penalties from the hedge fund run by billionaire Steven A. Cohen. Freeman was one of eight SAC Capital employees charged with insider trading who either pleaded guilty or were convicted...

  • The SEC said former Barclays Capital analyst John Gray and his friend Christian Keller used disposable prepaid mobile phones to conduct insider trading from 2009 to 2012.. It said that in exchange for kickbacks, Keller provided tips about confidential news he learned while working as a financial analyst at the chipmaker Applied Materials Inc and in...

  • NEW YORK, Feb 3- A former Banco Santander SA executive has been indicted for insider trading ahead of a proposed 2010 takeover of Potash Corp of Saskatchewan Inc by the mining group BHP Billiton Ltd, U.S. prosecutors said on Tuesday. A former adviser to Banco Santander's chief executive, Canas settled a U.S. Securities and Exchange Commission civil lawsuit last...

  • BEIJING, Jan 30- China's securities regulator said on Friday it will punish five fund management companies for faulty internal controls that led to insider trading, another move in a Beijing's widening crackdown on Chinese brokerages and fund managers. The China Securities Regulatory Commission named only two of the five: China Asset Management Co Ltd and...

  • NEW YORK, Jan 29- U.S. prosecutors said on Thursday they will drop charges against five men accused of insider trading ahead of an IBM Corp acquisition after an appellate court ruling limited the ability of authorities to pursue such cases. Attorney Preet Bharara in Manhattan said they would submit paperwork by Feb. 4 to drop the charges after U.S.

  • NEW YORK, Jan 29- U.S. prosecutors said they are prepared to drop charges against five men accused of engaging in insider trading ahead of an International Business Machines Corp acquisition, citing an appellate court ruling that limited the ability of authorities to pursue such cases. Attorney Preet Bharara in Manhattan asked U.S. The case was the latest...

  • District Judge James Mahan in Las Vegas granted an SEC request that MRI International Inc and its owner, Edwin Fujinaga, be ordered to give up $544.4 million of illegal profit and interest, and to each pay a $20 million civil fine. But the SEC said the defendants ran an "extensive and egregious Ponzi scheme" in which they used new money to repay older investors, and...

  • NEW YORK, Jan 26- The U.S. Securities and Exchange Commission on Monday supported a bid by prosecutors in New York for a shot at overturning a ruling that cleared two hedge fund managers of insider trading and limited the ability of authorities to pursue such cases. The SEC, in a court filing, backed Manhattan U.S. In particular, the SEC said the ruling could impede...

  • Defendants in California and Massachusetts have sought to take advantage of a December ruling from the 2nd U.S. Circuit Court of Appeals in New York that narrowed the definition of insider trading, making it harder for prosecutors to pursue their cases. The challenges raise the possibility that the 2nd Circuit decision, legally binding only in New York,...