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Investment Fraud

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  • Former trader gets 2 years in prison for fraud Wednesday, 23 Jul 2014 | 4:02 AM ET

    NEW HAVEN, Conn.— A federal judge sentenced a former Wall Street trader to two years in prison on Wednesday for securities fraud, saying he took advantage of a government bailout program. The judge also fined Jesse Litvak $1.75 million.

  • July 21- A former president of Qualcomm Inc's global business operations pleaded guilty on Monday to insider trading in shares of the mobile phone chipmaker and a company it bought in 2011, as well as to a related money laundering charge.

  • July 21- A former president of Qualcomm Inc's global business operations pleaded guilty on Monday to insider trading in shares of the mobile phone chipmaker and a company it bought in 2011, as well as to a related money laundering charge. District Judge William Hayes in San Diego, according to the U.S. Department of Justice.

  • The SEC was seeking to overturn a lower court's decision from 2012, in which a federal judge rejected a request by the agency to force the Securities Investor Protection Corp to start court proceedings for the fraud victims, some of whom lost millions of dollars.

  • The case marks the first time that the SEC, which oversees the SIPC, has ever filed a lawsuit against the nonprofit corporation to try and force it to start a court liquidation proceeding. The SIPC, which was created by Congress, administers an industry-backed fund that is used to compensate investors if their brokerage collapses.

  • Abraxas Discala, the chief executive officer of merchant banking firm OmniView Capital Advisors and former husband of Jamie-Lynn Sigler, who played Meadow Soprano on the hit HBO series, was charged in an indictment unsealed in Brooklyn, New York, with 10 criminal counts including securities fraud, wire fraud and conspiracy.

  • Abraxas Discala, the chief executive officer of merchant banking firm OmniView Capital Advisors and former husband of Jamie-Lynn Sigler, who played Meadow Soprano on the hit HBO series, was charged in an indictment unsealed in Brooklyn, New York, with 10 criminal counts including securities fraud, wire fraud and conspiracy.

  • Arrests made 'pump & dump' scheme: Report     Thursday, 17 Jul 2014 | 10:35 AM ET

    Seven arrests have been made in Brooklyn, New York in an alleged "pump and dump" scheme involving penny stocks, reports CNBCs' Scott Cohn.

  • NEW YORK, July 14- Former Goldman Sachs Group Inc director Rajat Gupta, serving a two-year prison term, has failed to persuade a federal appeals court to overturn his insider trading conviction.

  • NEW YORK, July 8- Rengan Rajaratnam, the younger brother of convicted Galleon Group founder Raj Rajaratnam, was cleared on Tuesday of conspiring to engage in insider trading while at the hedge fund, ending a five-year winning streak by U.S. prosecutors.

  • NEW YORK, July 8- U.S. prosecutors may still be building a case against imprisoned swindler Bernard Madoff's only surviving son, who according to sources was one of the "co-conspirators" mentioned in a plea deal by a Madoff associate last month. Mark Madoff committed suicide in December 2010 at the age of 46 on the second anniversary of Bernard Madoff's arrest.

  • NEW YORK, July 8- Rengan Rajaratnam, the younger brother of convicted Galleon Group founder Raj Rajaratnam, was cleared on Tuesday of conspiring to engage in insider trading while at the hedge fund, ending a five-year winning streak by U.S. prosecutors.

  • NEW YORK, July 8- Rengan Rajaratnam, the younger brother of convicted Galleon Group founder Raj Rajaratnam, was cleared on Tuesday of conspiring with him to engage in insider trading while at the hedge fund, in a setback for U.S. prosecutors.

  • NEW YORK, July 8- Jurors began deliberating on Tuesday in the trial of Rengan Rajaratnam, younger brother of Galleon Group hedge fund founder Raj Rajaratnam, who prosecutors say conspired to engage in insider trading.

  • NEW YORK, July 7- A lawyer for Rengan Rajaratnam on Monday compared the government's insider trading case against the younger brother of Galleon Group founder Raj Rajaratnam to a jigsaw puzzle where the pieces had been wrongly jammed together. Nor was there proof Rengan Rajaratnam entered into a conspiracy to engage in insider trading, he said.

  • NEW YORK, July 2- Prosecutors avoided the dismissal of the last remaining count against Rengan Rajaratnam on Wednesday, a day after a federal judge tossed the primary fraud charges against Galleon Group founder Raj Rajaratnam's younger brother.

  • *CSRC cracking down on insider trading at mutual funds. By Lu Jianxin and Pete Sweeney. SHANGHAI, July 1- A crackdown by Chinese regulators on insider trading in the country's $1.2 trillion mutual fund industry has sparked an exodus of fund managers from the industry.

  • NEW YORK, June 27- Mathew Martoma, a former SAC Capital Advisors portfolio manager convicted of insider trading, should be sentenced to a "substantial" term of prison beyond the eight years recommended by probation officers, U.S. prosecutors argued Friday. In court papers filed in New York federal court, prosecutors urged U.S.

  • June 26- Hewlett-Packard Co has won the dismissal of a lawsuit accusing the computer maker of securities fraud for misleading shareholders about its commitment to ethics while its chief executive was allegedly engaging in sexual harassment. Hurd, who is now president of Oracle Corp, had won wide credit at HP for improving the company's fortunes.

  • NEW YORK, June 26- A top official in the U.S. Attorney's Office in Manhattan who oversaw a number of high-profile insider trading cases is joining law firm Paul, Weiss, Rifkind, Wharton& Garrison, the New York firm said on Thursday.