GO
Loading...

Investment Fraud

More

  • The SEC announced the increase in its Nov. 17 annual report, which tracks the success of the whistleblower program and how much it pays out each year in awards. It authorized awards for nine whistleblowers, including a record payout of more than $30 million to a whistleblower overseas who had helped alert the SEC to what it described as an ongoing fraud.

  • Brazil ex-billionaire on trial for insider trading Tuesday, 18 Nov 2014 | 11:34 AM ET

    RIO DE JANEIRO— Brazil's one-time richest man, whose meteoric rise to No. 7 on the Forbes billionaires list and equally spectacular bust came to symbolize the country's economic fortunes, went on trial Tuesday in a historic insider trading case seen as a blow against an ingrained culture of impunity. Eike Batista was on hand at the Rio de Janeiro federal court for...

  • SAC's Martoma to begin prison term on Nov. 20 Monday, 17 Nov 2014 | 6:22 PM ET

    NEW YORK, Nov 17- Mathew Martoma, a former portfolio manager at billionaire Steven A. Cohen's hedge fund SAC Capital Advisors LP, has been ordered to begin serving his nine-year prison sentence for his insider trading conviction on Nov. 20. District Judge Paul Gardephe in Manhattan issued the order on Monday, five days after the 2nd U.S. Circuit Court of Appeals...

  • NY trustee for Madoff investors collects over $10B Monday, 17 Nov 2014 | 2:37 PM ET

    NEW YORK— The trustee recovering money for thousands of Bernard Madoff's victims reached a half-billion-dollar settlement with two financial funds that invested with the Ponzi schemer, lifting the total amount raised for cheated investors to over $10 billion. Trustee Irving Picard announced the latest settlement Monday with so-called feeder funds—...

  • Madoff recoveries top $10 billion with new deal Monday, 17 Nov 2014 | 2:03 PM ET
    Bernard Madoff in 2009

    The court-appointed trustee rounding up funds for victims of the Madoff Ponzi scheme says the total recovered now tops $10 billion.

  • NEW YORK, Nov 17- Billionaire Steven A. Cohen can face questions about insider trading at his hedge fund SAC Capital Advisors from lawyers representing his ex-wife in a civil lawsuit against him, a U.S. judge said on Monday. District Judge Loretta Preska at a court hearing in Manhattan ruled that lawyers for Patricia Cohen can ask Steven Cohen during a Dec. 10...

  • Attorney for indicted lawmaker: No plea change Sunday, 16 Nov 2014 | 10:41 AM ET

    CINCINNATI— A state lawmaker accused of misleading investors about a company's financial status and using their money for personal gain is not changing his plea, his attorney said. Pete Beck has pleaded not guilty to more than 60 charges including felony theft and securities fraud. It was delayed to allow both sides more time to review the large amount of...

  • Canadian CEO pays $22 million in Alabama case Friday, 14 Nov 2014 | 5:32 PM ET

    TUSCUMBIA, Ala.— Alabama officials dropped securities fraud charges against the chief executive of National Steel Car on Friday in return for the Canadian businessman paying a $22 million settlement. State officials and Gregory Aziz completed the agreement Friday in Tuscumbia and Aziz was allowed to return to his home in Hamilton, Ontario, after spending...

  • NEW YORK, Nov 13- An information technology engineer at Wilson Sonsini Goodrich& Rosati pleaded guilty on Thursday to insider trading based on information he learned while working at the prominent Silicon Valley law firm. Dimitry Braverman, 41, pleaded guilty in New York federal court to one count of securities fraud, two years after another Wilson Sonsini...

  • EXCLUSIVE-Virtu aiming for spring 2015 IPO -sources Thursday, 13 Nov 2014 | 4:21 PM ET

    NEW YORK, Nov 13- Electronic trading company Virtu Financial LLC hopes to go public in the spring, about a year after it originally planned its market debut, two sources familiar with the matter said on Thursday. Its release nearly coincided with the filing of a high-profile lawsuit by New York's attorney general accusing Barclays Plc of securities fraud in its...

  • ZeekRewards founder arraigned in $850 million scam Thursday, 13 Nov 2014 | 10:55 AM ET

    CHARLOTTE, N.C.— A North Carolina man who prosecutors say masterminded an $850 million Internet-based Ponzi scheme pleaded not guilty Thursday to federal charges of wire and mail fraud, conspiracy and tax fraud. Magistrate David Cayer in U.S. District Court in Charlotte. The company was shut down by the U.S. Securities and Exchange Commission in 2012....

  • NEW YORK, Nov 12- Mathew Martoma, a former portfolio manager at billionaire Steven A. Cohen's SAC Capital Advisors LP hedge fund, on Wednesday lost a bid to stay out of prison while he appeals his insider trading conviction. The 2nd U.S. Circuit Court of Appeals in New York lifted a stay that had enabled Martoma to avoid beginning a nine-year prison sentence for...

  • NEW YORK, Nov 12- Mathew Martoma, a former portfolio manager at billionaire Steven A. Cohen's SAC Capital Advisors LP hedge fund, on Wednesday lost a bid to remain out of prison while he appeals his insider trading conviction. The decision by the 2nd U.S. Circuit Court of Appeals in New York was a blow to Martoma's efforts to avoid commencing a nine-year prison...

  • Magistrate Judge Janet King in Atlanta rejected a claim by Steven Slawson, co-founder of Titan Capital Management, that his May indictment should be tossed because it did not allege he knew an insider disclosed illegal tips for personal gain. Attorney Sally Quillian Yates in Atlanta did not respond to requests for comment on Monday. Meanwhile, a federal...

  • Fabricated firm lures 250 investors     Monday, 10 Nov 2014 | 1:27 PM ET

    CNBC's Andrea Day reports on one man who hid behind an alleged multi-million investment scheme.

  • WASHINGTON, Nov 10- The U.S. Supreme Court on Monday left intact California hedge fund manager Douglas Whitman's conviction for insider trading relating to two trading schemes from 2006 to 2009.. Prosecutors said one scheme led to more than $900,000 of illegal profit from trading the shares of Google Inc and video-conferencing company Polycom Inc, and the...

  • Court lets stand conviction of hedge fund founder Monday, 10 Nov 2014 | 9:38 AM ET

    WASHINGTON— The Supreme Court has declined to disturb the conviction of San Francisco hedge fund founder Doug Whitman on insider trading charges. The justices on Monday rejected Whitman's appeal of his 2012 conviction for securities fraud and conspiracy. Prosecutors said Whitman made nearly $1 million between 2006 and 2009 by receiving inside tips about...

  • NEW YORK, Nov 6- A Texas man who operated Bitcoin Savings and Trust was charged on Thursday with bilking his investors, in what prosecutors called the first federal criminal securities fraud case arising from a bitcoin-related Ponzi scheme. Trendon Shavers, 32, of McKinney, Texas, was charged with misappropriating about 146,000 of the 764,000 bitcoin, then...

  • NEW YORK, Nov 6- A Texas man who operated Bitcoin Savings and Trust was charged on Thursday with bilking his investors, in what prosecutors called the first federal criminal securities fraud case arising from a bitcoin-related Ponzi scheme. Trendon Shavers, 32, of McKinney, Texas, was charged with misappropriating about 146,000 of the 764,000 bitcoin, then...

  • NEW YORK, Nov 4- Mathew Martoma, a former portfolio manager at billionaire Steven A. Cohen's SAC Capital Advisors LP hedge fund, won an order Tuesday to delay the date he would begin serving a nine-year prison term for insider trading. The 2nd U.S. Circuit Court of Appeals in New York agreed to delay Martoma's surrender date past Nov. 10 until after an appellate panel...