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Investment Fraud

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  • Madoff son was under scrutiny until day he died Sunday, 28 Sep 2014 | 12:39 PM ET

    NEW YORK— Bernard Madoff's last surviving son was under investigation for possible involvement in his father's multibillion-dollar Ponzi scheme until the day he died from cancer earlier this month, but scrutiny over his $16 million estate lives on. Both officials told the AP it was likely Andrew Madoff would have faced tax evasion charges if he had not died.

  • SEC alleges $129M pyramid scheme in China, US Friday, 26 Sep 2014 | 2:42 PM ET

    The Securities and Exchange Commission announced the civil fraud charges Friday against eAdGear Holdings Limited, based in Hong Kong; California- based eAdGear Inc.; and Charles Wang, Qian Cathy Zhang and Francis Yuen.

  • Ex-CEO charged in ballplayer's insider trade Wednesday, 24 Sep 2014 | 11:03 PM ET

    SANTA ANA, Calif.— Federal prosecutors say the former CEO of a Southern California medical device company has been indicted on allegations that he shared insider trading secrets with former Baltimore Orioles All-Star Doug DeCinces.

  • NEW YORK, Sept 24- A former executive at a New York investor relations firm, whose barefoot dash from news photographers last month caught the attention of Comedy Central's The Daily Show, pleaded guilty on Wednesday to insider trading.

  • NEW YORK, Sept 24- A former executive at a New York investor relations firm, whose barefoot dash from news photographers last month caught the attention of Comedy Central's The Daily Show, pleaded guilty on Wednesday to insider trading.

  • Ex-firm exec pleads guilty in insider trading case Wednesday, 24 Sep 2014 | 12:27 PM ET

    NEW YORK— A former executive at a New York investor firm pleaded guilty to an insider trading charge Wednesday, blaming long work hours and drugs in part for his use of information from drafts of press releases to earn nearly a million dollars.

  • CEO of China-based Company pleads guilty to fraud Tuesday, 23 Sep 2014 | 5:43 PM ET

    SEATTLE— The chief executive officer of a China- based energy company pleaded guilty Tuesday to two counts of securities fraud. Dickson Lee, head of L&L Energy, pleaded to one count of reporting false information to the U.S. Security and Exchange Commission.

  • SEC alleges insider trading in coal acquisition Tuesday, 23 Sep 2014 | 11:28 AM ET

    CHARLESTON, W.Va.— Federal regulators claim that three men used insider information to profit illegally from Arch Coal's acquisition of International Coal Group. Frank Tamayo schemed with two other men to generate more than $5.6 million in profits from 13 mergers and acquisitions, the U.S. Securities and Exchange Commission says in a lawsuit.

  • NEW YORK, Sept 22- A federal judge rejected Westgate Capital Management LLC founder James Nicholson's request to shorten his 40- year prison term for running a $140 million Ponzi scheme at his hedge fund firm, likening it to the much larger fraud run by Bernard Madoff.

  • Frank Tamayo, 41, was the middleman in what prosecutors called a three-man scheme that generated $5.6 million in illegal profits over five years, based on tips about a dozen transactions being negotiated by a prestigious New York law firm. The defendant also agreed to forfeit more than $1 million, the contents of two brokerage accounts, and a 2008 Audi Q7.

  • 'Middleman' in insider trading ring pleads guilty Friday, 19 Sep 2014 | 2:47 PM ET

    TRENTON, N.J.— A man authorities say was the go-between in a five-year insider trading scheme has pleaded guilty. Frank Tamayo of Brooklyn, New York pleaded guilty in Trenton to one count each of securities fraud, tender offer fraud and conspiracy.

  • Sept 19- A U.S. federal judge in Texas ordered Bitcoin Savings and Trust and its owner to pay a combined $40.7 million after the Securities and Exchange Commission established that the company, which sold investments using the virtual currency, was a Ponzi scheme.

  • Bank of Montreal is sued over Tom Petters' Ponzi scheme Thursday, 18 Sep 2014 | 6:58 PM ET

    Sept 18- Bank of Montreal was sued on Thursday by a trustee liquidating two Florida funds that claimed to have lost money in a Ponzi scheme operated by Minnesota businessman Thomas Petters.

  • NY ATTORNEY GENERAL SAYS BARCLAYS FALSE STATEMENTS FALL WITHIN SCOPE OF STATE SECURITIES FRAUD LAW.

  • Authorities said Braverman from 2010 to 2013 made close to $300,000 from illegal trades in stocks and options of eight companies, including Drugstore.com Inc, Dealertrack Technologies Inc and Seagate Technology Plc, involved in transactions on which Wilson Sonsini was providing legal advice.

  • Andrew Madoff's $16M fortune riles father's victims Friday, 12 Sep 2014 | 2:28 PM ET
    Andrew Madoff in 2011

    Andrew Madoff, the son of convicted financier Bernie Madoff, was worth $16 million prior to his death from lymphoma on Sept. 4.

  • Former friend of ex-Hall of Fame coach faces prison Thursday, 11 Sep 2014 | 4:12 PM ET
    Former Georgia football coach Jim Donnan is shown after receiving his blazer during the College Hall of Fame pep rally in South Bend, Ind.

    Gregory Crabtree, former friend of College Hall of Fame coach Jim Donnan, faces prison time related to an $80 million Ponzi scheme.

  • NEW YORK, Sept 9- A former executive at Foundry Networks Inc gave an "inside edge" to a hedge fund analyst in 2008 by telling him that the data equipment maker was about to be taken over, a U.S. prosecutor said on Tuesday at the start of an insider trading trial.

  • NEW YORK, Sept 8- Mathew Martoma, a former portfolio manager at billionaire Steven A. Cohen's SAC Capital Advisors LP hedge fund, was sentenced on Monday to nine years in prison for engaging in what authorities called the most lucrative insider trading scheme in U.S. history. District Judge Paul Gardephe in New York also ordered Martoma, 40, to forfeit $9.3 million.

  • NEW YORK, Sept 8- Mathew Martoma, a former portfolio manager at billionaire Steven A. Cohen's SAC Capital Advisors LP hedge fund, was sentenced on Monday to nine years in prison for engaging in what authorities called the most lucrative insider trading scheme in U.S. history. District Judge Paul Gardephe in New York also ordered Martoma, 40, to forfeit $9.3 million.