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Investment Fraud


  • Stanford Fraud Case Puts Old Friends at Odds Tuesday, 31 Jan 2012 | 12:05 PM ET
    James M. Davis

    Allen Stanford's former college roommate James Davis is now the chief prosecution witness against him. Davis will testify that he witnessed and participated in Stanford's $7 billion Ponzi scheme, the New York Times reports.

  • Chinese Reverse Merger Promoter Raided in US Saturday, 28 Jan 2012 | 2:05 AM ET

    U.S. authorities have raided the New York office and home of Benjamin Wey, a promoter of controversial Chinese reverse mergers, according to law enforcement officials. The Financial Times reports.

  • 12 white collar fugitives wanted by the FBI Tuesday, 24 Jan 2012 | 12:49 PM ET
    The Federal Bureau of Investigation’s has included some of the world’s most notorious criminals, including Osama Bin Laden, Ted Bundy and Warren Jeffs — totaling 493 since its creation in 1950. Of these fugitives, 463 have been apprehended or located, according to the FBI. Of these, 152 arrests have been assisted by the public. With the success of the “Most Wanted” list, the bureau in 1996 began putting wanted criminals on its website. Since then, more than 50 fugitives have been arrested as a r

    Who are some of these white collar criminals and what did they do? Click ahead for 12 fugitives wanted by the FBI.

  • SFO Targets Criminal Company Dividends Friday, 13 Jan 2012 | 2:05 AM ET

    The UK’s fraud investigator intends to confiscate shareholder dividends paid by companies convicted of criminal offences, after it won approval for a landmark court action, the Financial Times reports.

  • Scott Cohn on Crime Thursday, 1 Dec 2011 | 2:36 PM ET
    Raj Rajaratnam

    Add health care fraud to ponzi schemes and insider trading at the top of the list of wrongdoing in the financial world.

  • What's Next for Jon Corzine?   Monday, 7 Nov 2011 | 10:34 AM ET
    What's Next for Jon Corzine?

    Jon Corzine has resigned but hundreds of millions of dollars are reportedly still missing at MF Global. Insight on what's next for the former New Jersey governor, with Robert Heim, former SEC prosecutor.

  • Madoffs Aim to Write Their Own Future Monday, 31 Oct 2011 | 7:02 AM ET
    Ruth Madoff

    For nearly two years after Bernard L. Madoff confessed to running the largest Ponzi scheme in history, Ruth Madoff — who fell in love with him at 13 and married him at 18 — stood by her husband, a man the rest of the world saw as a cold-blooded monster.  After years of silence and seclusion, Mrs. Madoff agreed to talk with a reporter for The New York Times

  • Avon Plunges on SEC Probe   Thursday, 27 Oct 2011 | 2:11 PM ET
    Avon Plunges on SEC Probe

    CNBC's Herb Greenberg has the story on the SEC's investigation into Avon.

  • 10 White Collar Criminals Wanted by the FBI Friday, 21 Oct 2011 | 3:53 PM ET
    The Federal Bureau of Investigation’s has included some of the world’s most notorious criminals, including Osama Bin Laden, Ted Bundy, Warren Jeffs, and more, totaling 494 since the list’s creation in 1950. With the success of the FBI’s “Most Wanted” list, the bureau in 1996 began putting wanted criminals on its website and notes that more than 50 fugitives have been arrested as a result of their images and information appearing on the site.Along with the “Most Wanted,” other criminals are being

    The FBI's “10 Most Wanted List” has included some of the world’s most notorious criminals, including Osama Bin Laden, Ted Bundy, Warren Jeffs, totaling 494 since the list’s creation in 1950.

  • You Can't Dine Out on the Dinar Thursday, 20 Oct 2011 | 10:44 AM ET

    Readers keep sending in questions about the outlook for the Iraqi dinar. It's cloudy. Really cloudy.

  • Be Wary of This 'Can't Lose' Proposition Tuesday, 27 Sep 2011 | 2:14 PM ET

    Readers have been asking about the outlook for the Iraqi dinar. The short answer: not good, in every sense of the word.

  • Officials Eye Madoff Role of a Lawyer Saturday, 17 Sep 2011 | 12:10 PM ET

    The tables may be turned on one former SEC official. He may soon be investigated by the Justice Department for a potential conflict in the Madoff case: He was responsible for the agency's proposal for victim compensation even though he had a financial interest in the outcome.

  • More Delays for Investors in Alleged Ponzi Scheme Friday, 16 Sep 2011 | 8:07 PM ET

    The U.S. agency that insures U.S. brokerage accounts said it is still deciding whether to reverse an earlier decision to deny coverage to tens of thousands of investors in Allen Stanford's alleged $7 billion Ponzi scheme.

  • UBS' Chronic Condition   Friday, 16 Sep 2011 | 12:00 PM ET
    UBS' Chronic Condition

    CNBC's Kate Kelly takes a look at the rogue trading that could spell disaster for UBS and its troubled investment bank.

  • Rogue Trader Slams UBS   Thursday, 15 Sep 2011 | 12:52 PM ET
    Rogue Trader Slams UBS

    UBS says it may not be profitable in Q3 thanks to a $2 billion loss from unauthorized trading. Insight with David Greenberg, Sterling Commodities president; and a look at the midday market movers.

  • Gamekeeper Turned Poacher? The Path to Rogue Trading Thursday, 15 Sep 2011 | 8:30 AM ET
    Jerome Kerviel shown here released on bail from La Sante Prison by a Parisian court on March 18, 2008 in Paris, France. Jerome Kerviel, the Societe Generale rogue trader was accused of losing 4.9 billion euros (7.2 billion US dollars) through unauthorised trading.

    A bright graduate joins an investment bank, but not in the glamorous, fast-moving –  and ultimately profitable -  trading role that he wanted. Rather, he is put into the "middle office," managing the IT systems that keep the trading desks running. Eventually, though, he is given a break, joining the bank's "delta one" trading desk, playing arbitrage between cash equities and equity derivatives.

  • UBS Rogue Trader Causes Loss of $2B   Thursday, 15 Sep 2011 | 6:17 AM ET
    UBS Rogue Trader Causes Loss of $2B

    CNBC's Carolin Schober has the story on a UBS trader arrested on suspicion of committing fraud.

  • Sino-Forest Corp.'s trading price is shown on an electronic display at the Toronto Stock Exchange (TSX) in Toronto, Ontario, Canada

    A former senior executive of a Chinese company that listed on the Nasdaq in 2005 says investors need to stay wary of new initial public offerings (IPOs) from the mainland, because many firms keep multiple sets of books.

  • Here's the Next 'Madoff Fraud': Whistleblower Wednesday, 24 Aug 2011 | 12:08 PM ET
    Bernie Madoff

    The man whose emails detailing Bernie Madoff's Ponzi scheme were ignored by the Securities and Exchange Commission has a new target — foreign exchange fraud, and he has Bank of New York and State Street in his sights.

  • SEC Launches New Whistleblower Program Thursday, 11 Aug 2011 | 7:00 PM ET

    The SEC is launching a new program Friday to encourage whistleblowers to report corporate fraud, including a website with instructions on how potential whistleblowers can make millions from their tips.