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Investment Fraud

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  • Trader charged with fraud related to 'flash crash'   Tuesday, 21 Apr 2015 | 1:36 PM ET
    Trader charged with fraud related to 'flash crash'

    A futures trader was arrested in the UK for alleged manipulation tied to the 2010 flash crash. CNBC's Kate Kelly and Brian Sullivan discuss.

  • Trader alleged to have manipulated market   Tuesday, 21 Apr 2015 | 1:09 PM ET
    Trader alleged to have manipulated market

    CNBC's Bob Pisani, Sue Herera and Brian Sullivan, weigh in on the arrest of a trader charged with fraud related to the "flash crash."

  • WASHINGTON, April 20- The U.S. Supreme Court on Monday left intact the 2012 insider trading conviction of former Goldman Sachs Group Inc director Rajat Gupta. The court rejected Gupta's appeal of a March 2014 ruling by the New York- based 2nd U.S. Circuit Court of Appeals that had upheld the conviction. The U.S. government used wiretap evidence to show that Gupta...

  • WASHINGTON— The Supreme Court has declined to disturb the conviction of a former Goldman Sachs and Procter& Gamble board member on charges of conspiracy and securities fraud. The justices had no comment Monday on their order rejecting Rajat Gupta's appeal of his 2012 conviction for feeding lucrative inside tips about Goldman to a billionaire hedge fund...

  • SUPREME COURT REJECTS FORMER GOLDMAN DIRECTOR RAJAT GUPTA APPEAL IN INSIDER TRADING CASE, LEAVING CONVICTION INTACT.

  • FBI charges ex-banker for using clients' $20M Thursday, 16 Apr 2015 | 11:30 AM ET

    A criminal complaint charges an ex -banker with four counts for using $20M of client money, and for withdrawing from their accounts.

  • Madoff trustee seeks to release $1.2 billion to investors Wednesday, 15 Apr 2015 | 4:24 PM ET

    NEW YORK— A trustee recovering money for thousands of victims of Bernard Madoff's epic Ponzi scheme has asked a New York court to let him distribute another $1.2 billion. Irving Picard asked the U.S. Bankruptcy Court in Manhattan on Wednesday to approve the allocation. The payouts to individual investors would range from $1,082 to $168 million, with an average...

  • NEW YORK, April 15- The trustee recouping money for victims of Bernard Madoff's Ponzi scheme on Wednesday sought court approval to release $1.25 billion from legal reserves, potentially boosting the total payout to $8.22 billion. Irving Picard, the trustee, said the request was made possible after a federal appeals court in New York ruled on Feb. 20 that victims...

  • NEW YORK, April 13- Billionaire investor William Ackman, who has long accused Herbalife Ltd of being a fraud, said on Monday that the top executives at the nutrition and supplements company are hiring their own lawyers as government investigations pick up pace. Ackman's $20 billion Pershing Square Capital Management made a $1 billion short bet against...

  • PARIS, April 8- French prosecutors said on Wednesday they were dropping an inquiry into alleged insider trading by several executives at French bank BNP Paribas after finding no signs of wrongdoing. At the time the bank was the target of a U.S. sanctions violations probe that eventually led to BNP Paribas getting hit with a fine of almost $9 billion.

  • SEC says ex-NY Giants player ran $31M Ponzi scheme Tuesday, 7 Apr 2015 | 3:33 PM ET
    New York Giants’ cornerback Will Allen defends during a game against the Cleveland Browns in East Rutherford, N.J., Sept. 26, 2004.

    The SEC announced fraud charges against former NFL player Will Allen and a business partner, accusing them of operating a $31 million Ponzi scheme.

  • Prosecutors foiled over Newman, Chiasson case Friday, 3 Apr 2015 | 12:50 PM ET
    Anthony Chiasson, co-founder of Level Global Investors LP, exits federal court following a sentencing hearing in New York, May 13, 2013.

    A U.S. appeals court on Friday rejected a request by federal prosecutors that would have allowed pursuance of big insider trading cases.

  • *Iftikar Ahmed, Amit Kanodia face criminal, SEC charges. April 2- U.S. authorities have filed criminal and civil insider trading charges against two friends, including a Connecticut venture capital executive, accused of profiting illegally from India- based Apollo Tyres Ltd's attempt to buy Cooper Tire& Rubber Co in 2013.. Iftikar Ahmed, a general partner of Oak...

  • *Iftikar Ahmed, Amit Kanodia face criminal, SEC charges. April 2- U.S. authorities have filed criminal and civil insider trading charges against two friends, including a Connecticut venture capital executive, accused of profiting illegally from India- based Apollo Tyres Ltd's attempt to buy Cooper Tire& Rubber Co in 2013.. Iftikar Ahmed, a general partner of Oak...

  • WASHINGTON, April 1- A Florida jury handed the U.S. Securities and Exchange Commission a major victory on Wednesday, after it found an investment manager tied to the Rothstein Ponzi scheme liable for fraud. The verdict comes nearly three years after the SEC charged George Levin with defrauding investors through a feeder fund that funneled money to attorney and...

  • Ex-Autonomy management to file claim vs. HP   Tuesday, 31 Mar 2015 | 10:06 AM ET
    Ex-Autonomy management to file claim vs. HP

    Hewlett-Packard is suing Autonomy co-founder Michael Lynch in the U.K. for $5.1 billion, reports CNBC's David Faber.

  • Stanford's victims accused the SEC of negligence for having waited until 2009 to uncover the Ponzi scheme, despite having had evidence of it as early as 1997.. But the court said the SEC had discretion to decide how to enforce securities laws, and could not be liable for certain misrepresentations. Victims claimed that the SEC thought Stanford's business was a...

  • A lawyer for the Securities and Exchange Commission told an administrative judge in New York that the trader, Joseph Ruggieri, made more than $117,000 in profits for Wells Fargo by trading healthcare company stocks ahead of ratings changes by one of the bank's analysts. Paul Ryan, Ruggieri's lawyer, called the SEC's case circumstantial, and said the regulator...

  • WASHINGTON, March 30- The U.S. Supreme Court on Monday left intact a ruling that prevents plaintiffs from suing banks that they say aided and abetted convicted fraudster Bernie Madoff. The high court declined to hear two separate appeals filed by investors in foreign investment vehicles that lost money when Madoff's the Ponzi scheme collapsed in 2008. They...

  • SAN FRANCISCO, March 25- The former chief operating officer of a major Chinese-American bank in San Francisco was convicted on Wednesday of several criminal counts, including securities fraud, over allegations he concealed deteriorating loans at the height of the 2008 financial crisis. Prosecutors accused former United Commercial Bank executive Ebrahim...