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Investment Fraud

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  • NEW YORK, May 19- The former controller for convicted fraudster Bernard Madoff's investment firm was sentenced to no prison time on Tuesday, as a U.S. judge praised her "extraordinary" assistance to authorities investigating Madoff's massive Ponzi scheme. District Judge Laura Taylor Swain imposed the sentence on Tuesday in federal court in New York, citing her "...

  • FTC sues phony cancer charities   Tuesday, 19 May 2015 | 12:09 PM ET
    FTC sues phony cancer charities

    CNBC's Hampton Pearson reports on a major consumer fraud case revealed by the Federal Trade Commission.

  • Father and son charged in insider trading case Thursday, 14 May 2015 | 6:51 PM ET

    NEW YORK— An investment banker at a Manhattan firm and his father were charged in court papers unsealed Thursday with using inside information to earn over $1 million illegally by trading in securities of five health care companies. The charges including conspiracy and securities fraud were contained in a criminal complaint unsealed in Manhattan federal...

  • Sean Stewart, 34, routinely tipped his father about mergers being worked on at Perella and JPMorgan Chase& Co, where he worked until 2011, according to a complaint filed in Manhattan federal court. The tips enabled Robert Stewart, 60, and a friend to make $1.16 million, the complaint said. Robert Stewart, an accountant and chief financial officer of mobile...

  • Sean Stewart, who previously worked at JPMorgan Chase& Co, tipped Robert Stewart, his father, about the mergers, enabling him and a friend to make $1.16 million, according to a criminal complaint filed in Manhattan federal court. Robert Stewart, a 60- year-old accountant and chief financial officer of a mobile applications company, was meanwhile arrested in...

  • 5 banks to plead guilt to felony charges   Thursday, 14 May 2015 | 11:00 AM ET
    5 banks to plead guilt to felony charges

    Five banks are set to plead guilty to felony charges and pay billions in fines for currency market rigging.

  • May 13- A Massachusetts lawyer has admitted to trading on inside information about American Superconductor Corp that a fellow golfer was told in confidence by an executive, his attorney said on Wednesday. Douglas Parigian, 56, pleaded guilty on Tuesday to conspiracy and securities fraud charges after a federal judge in Boston refused to dismiss the case in...

  • SEC charges ITT Educational Services with fraud   Tuesday, 12 May 2015 | 10:27 AM ET
    SEC charges ITT Educational Services with fraud

    CNBC's Dominic Chu reports on the SEC's charges against ITT Educational Services with fraud.

  • PARIS, May 11- A French public prosecutor on Monday recommended that insider trading charges against current and former managers of Airbus Group be dropped after they successfully challenged the process on human rights grounds. The trial opened last year but was suspended after a first day of deliberations to allow the defendants to argue before a higher...

  • PARIS, May 11- French prosecutors will on Monday formally abandon insider trading charges against current and former managers of Airbus Group after they successfully challenged the process on human rights grounds, judicial sources said. The trial was suspended after a day of legal arguments to allow the defendants to argue before a higher court that the case...

  • May 5- The U.S. Securities and Exchange Commission on Tuesday sued three defendants it accused of running a fraud and Ponzi scheme in which they raised more than $62 million from investors eager to benefit from growth in the North Dakota oil industry. According to the SEC, North Dakota Developments LLC and its owners, Robert Gavin and Daniel Hogan, illegally...

  • Los Angeles sues Wells Fargo   Tuesday, 5 May 2015 | 4:37 PM ET
    Los Angeles sues Wells Fargo

    The city of Los Angeles is suing Wells Fargo for what it deems "unlawful and fraudulent conduct." Shark tank investor Kevin O'Leary and the Closing Bell team, weigh in.

  • Three men in UK court on insider dealing charges Wednesday, 29 Apr 2015 | 8:31 AM ET

    LONDON, April 29- Three men appeared in a London court on Wednesday charged with using inside information to trade in technology company Logica shares during its Canadian takeover in 2012, the Financial Conduct Authority said. Manjeet Singh Mohal, 58, appeared before Westminster Magistrates' Court charged with two counts of insider trading and Reshim Birk,...

  • NEW YORK, April 28- A federal judge dismissed claims by former Elan Corp and Wyeth shareholders accusing billionaire investor Steven A. Cohen's SAC Capital Advisors LP of violating federal racketeering law by conducting insider trading in the drugmakers' stocks. District Judge Victor Marrero in Manhattan said the civil claims brought under the Racketeer...

  • When financial fraudsters go to prison   Monday, 27 Apr 2015 | 7:25 AM ET
    When financial fraudsters go to prison

    "Squawk Box's" Andrew Ross Sorkin provides a preview of his new CNBC documentary on what it's like for white collar criminals on the inside.

  • Accused 'Flash Crash' trader granted $7.6 million bail   Wednesday, 22 Apr 2015 | 10:27 AM ET
    Accused 'Flash Crash' trader granted $7.6 million bail

    Accused UK flash crash trader Navinder Singh Sarao has been granted a strict, conditional $7.6 million bail, reports CNBC's Wilfred Frost.

  • 'Flash crash' suspect to appear in UK court   Wednesday, 22 Apr 2015 | 6:07 AM ET
    'Flash crash' suspect to appear in UK court

    CNBC's Wilfred Frost reports the high-frequency trader accused of contributing to the 2010 "flash crash" is expected to appear in a London court today for an extradition hearing.

  • NEW YORK, April 21- Two former employees of a New York investment firm were found guilty on Tuesday of helping to run a Ponzi scheme that bilked around 3,800 investors of out of about $147 million, authorities said. Diane Kaylor and Jason Keryc, former employees of Long Island- based Agape World Inc, were convicted by a federal jury in Central Islip, New York, of charges...

  • Flash crash bust   Tuesday, 21 Apr 2015 | 5:26 PM ET
    Flash crash bust

    A UK trader was arrested in connection with the "flash crash," reports CNBC's Kate Kelly.

  • 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.