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Investment Fraud

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  • NEW YORK, Dec 15- A former manager at Bernard Madoff's firm was sentenced to six years in prison on Monday for helping her now imprisoned boss carry out his multibillion dollar Ponzi scheme. JoAnn Crupi, 53, was the last of five former Madoff employees to be sentenced after a Manhattan federal jury found them guilty in March in the first criminal trial over...

  • Ex-Madoff account manager sentenced to 6 years Monday, 15 Dec 2014 | 5:13 PM ET

    NEW YORK— A former account manager for Bernard Madoff was sentenced Monday to six years in prison for her role in his epic multibillion-dollar fraud, ending a series of proceedings for five former employees that resulted in prison terms dramatically below what prosecutors sought. District Judge Laura Taylor Swain announced the sentence for 53- year-old...

  • NEW YORK, Dec 12- A New York lawyer left a suicide note admitting that he had run a $5 million Ponzi scheme and called the investments "all an illusion," prosecutors said on Friday. Charles Bennett, 56, who was rescued Nov. 3 after he jumped into the Hudson River, was arrested and charged with securities and wire fraud in Manhattan federal court. The FBI arrested Bennett...

  • Feds: NY lawyer told of Ponzi ruse in suicide note Friday, 12 Dec 2014 | 5:56 PM ET

    NEW YORK— A lawyer who authorities say attempted suicide to evade prosecution for a $5 million Ponzi scheme was arrested Friday at the hospital where he has been recovering since he was pulled from the Hudson River off Manhattan over a month ago. Charles A. Bennett, 56, a former corporate lawyer at a New York City- based law firm, was permitted to remain free of...

  • NEW YORK, Dec 12- A New York lawyer left a suicide note admitting that he had run a $5 million Ponzi scheme and called the investments "all an illusion," prosecutors said on Friday. Charles Bennett, 56, who was rescued Nov. 3 when he tried to commit suicide by jumping into the Hudson River, was arrested and charged with securities and wire fraud in Manhattan federal court.

  • NEW YORK/ WASHINGTON, Dec 11- U.S. prosecutors, already smarting from a appeals court ruling that weakens their ability to crack down on future insider trading, on Thursday faced widening fallout from the decision as some existing cases threatened to unravel. Lawyers for some defendants hinted they might seek to withdraw guilty pleas, and a Manhattan federal...

  • Attorney Preet Bharara's Wall Street crackdown. The 2nd U.S. Circuit Court of Appeals in New York said prosecutors presented insufficient evidence to convict Todd Newman, a former portfolio manager at Diamondback Capital Management, and Anthony Chiasson, co-founder of Level Global Investors. That establishes a tougher standard that could make future...

  • Ex-MIT professor, son plead guilty in scam Wednesday, 10 Dec 2014 | 4:55 PM ET

    BOSTON— A former Massachusetts Institute of Technology professor and his son who ran hedge funds have pleaded guilty to securities fraud charges that federal prosecutors say cost their investors $140 million. Federal prosecutors said 69- year-old Gabriel Bitran and 39- year-old Marco Bitran pleaded guilty Wednesday to conspiracy to commit securities...

  • NEW YORK, Dec 10- A former computer programmer for Bernard Madoff was sentenced to 2-1/ 2 years in prison on Wednesday for helping the imprisoned fraudster carry out his multibillion dollar Ponzi scheme. The sentencing of George Perez, who worked at Madoff's firm from 1991 until its collapse in 2008, came nine months after a Manhattan federal jury found him...

  • Appeals court deals blow to US in insider cases Wednesday, 10 Dec 2014 | 10:35 AM ET

    NEW YORK— A federal appeals court dealt a blow to the government's success in insider trading prosecutions Wednesday by reversing two convictions with a decision that also jeopardizes a third— and attempts to further define how far prosecutors can push the law in their quest to clean up Wall Street. The 2nd U.S. Circuit Court of Appeals overturned the...

  • NEW YORK, Dec 10- A U.S. appeals court dealt federal prosecutors a blow in their crackdown on insider trading on Wall Street on Wednesday, overturning the convictions of two former hedge fund managers charged with making illegal trades in technology stocks. The 2nd U.S. Circuit Court of Appeals in New York said prosecutors presented insufficient evidence to...

  • US appeals court vacates two insider trading convictions Wednesday, 10 Dec 2014 | 9:49 AM ET

    The U.S. Second Circuit Court of Appeals ruled that the convictions of Todd Newman and Anthony Chiasson should be vacated and their indictment dismissed with prejudice, the filing said.

  • NEW YORK, Dec 9- A former manager and a former computer programmer at Bernard Madoff's firm were sentenced to prison on Tuesday for helping the convicted fraudster run a multi-billion dollar Ponzi scheme. The judge also ordered Bongiorno and O'Hara to forfeit a symbolic $155 billion and $19.7 billion, respectively, jointly with other defendants who worked at...

  • Annette Bongiorno, who worked for Madoff from the 1960 s until the firm's collapse in 2008, was the second of five former employees to be sentenced after being convicted in March of securities fraud, conspiracy and other charges in a Manhattan federal court. District Judge Laura Taylor Swain also ordered Bongiorno, 66, to forfeit $155 billion, a symbolic amount...

  • Longtime Madoff aide Bongiorno gets 6 years in prison Tuesday, 9 Dec 2014 | 12:16 PM ET

    Annette Bongiorno, who worked for Madoff since the 1960 s, was the second of five former employees to be sentenced, following their convictions in March by a Manhattan federal jury of securities fraud, conspiracy and other charges.

  • Ex-promoter extradited from Brazil in $300M fraud Tuesday, 9 Dec 2014 | 7:34 AM ET

    MIAMI— A former music promoter who produced events for top-name acts such as the Rolling Stones, Elton John and Aerosmith has been extradited from Brazil to face U.S. charges in a $300 million fraud case. Prosecutors say 72- year-old Jack Utsick fled to Brazil in 2006 during investigations by the FBI and Securities and Exchange Commission.

  • NEW YORK, Dec 8- Bernard Madoff's former back office director was sentenced to 10 years in prison on Monday for helping the convicted fraudster conceal his massive Ponzi scheme for decades. District Judge Laura Taylor Swain also ordered Bonventre to forfeit more than $155 billion, a symbolic sum for which he would and the other defendants who worked at Bernard L....

  • NEW YORK, Dec 8- Bernard Madoff's former back office director was sentenced to 10 years in prison on Monday for helping the convicted fraudster conceal his massive Ponzi scheme for decades.

  • Five ex-Madoff aides face up to 20 years in prison Sunday, 7 Dec 2014 | 1:00 AM ET

    NEW YORK, Dec 7- Five former employees of Bernard Madoff, convicted in March of helping the fund manager bilk investors of billions of dollars in his massive Ponzi scheme, will be sentenced this week, with prosecutors seeking prison terms of up to 20 years. First up on Monday is former back office director Daniel Bonventre, followed in the coming days by portfolio...

  • Nov 19- U.S. Bank, sued by the government last year for allegedly aiding a massive fraud at brokerage Peregrine Financial, must face claims for nearly $36 million in restitution to Peregrine's victims, a federal judge in Iowa ruled. U.S. Bank, part of Minneapolis- based U.S. Bancorp, was sued last year by the U.S. Commodity Futures Trading Commission for allegedly...