CINCINNATI— A southwest Ohio money manager accused of bilking 141 investors in a Ponzi scheme has been sentenced to 15 years in prison and ordered to pay $34.5 million in restitution. District Judge Herman Weber said he wanted to send a "loud, emphatic message" to fraudsters with the sentence of Glen Galemmo on Thursday.» Read More
While not every one of these Wall Street jailbirds had offices in downtown Manhattan, they all dealt in the financial world. Click ahead to see those who have traded in their pinstripes for prison stripes.
Shawn Merriman was head of an investment firm and lay bishop in the Mormon church who persuaded friends, family, and church members to invest with him. It turned out to be a big scam, taking in more than $21 million. Among victims: his own mother.
The markets jump on reports central banks are putting plans in place to prepare for the Greek elections; UK bankers say they will take whatever steps necessary to protect their currency; the video game industry continues its free fall; Allen Stanford is sentenced to 110 years in jail.
The federal agency is aggressively responding to a series of what it sees as hostile attempts by private sector firms to access its website at times when market-moving economic data are released to the public.
U.S. authorities are ratcheting up their investigation of residential mortgage-backed securities — the bundles of mortgages that were at the heart of the 2008 financial crisis. And they are appealing to the public for help.
RIchard Holwell, Holwell Shuster & Goldberg partner, provides his perspective on the upcoming insider trading trial of former Goldman Sach's director, Rjjat K. Gupta.
The Securities and Exchange Commission has been getting tougher on insider trading on Wall Street, but its potential target may be too wide, The New York Times reports.
The investigation into the $300 million art heist from a Boston museum in 1990 has heated up after authorities searched the house of a mob suspect. The Gardner Museum is offering a $5 million reward.
The FBI launches a campaign to have the public help catch corporate spies. CNBC's Eamon Javers reports the details.
How some gangs are moving beyond drugs and street crimes and into financial crimes like mortgage fraud.
Conrad Black is released from prison after serving nearly half of his original six-year sentence for defrauding investors.
Scam artist Nicholas Cosmo says even as his latest scheme was imploding and putting the life savings of 4,000 people at risk, he thought he was “helping people.”
According to a 2011 Federal Bureau of Investigation report, securities and commodities fraud investigations have increased by more than 50 percent since 2008. Here's how you can protect yourself.
A man who set up accounts for funds from a “boiler room” share scam has been jailed for four-and-a-half years after being convicted of three counts of money laundering, the Financial Times reports.
With each passing SEC suit against a once high-flying U.S. traded Chinese company, it becomes striking how pervasive the alleged fraud was in some of these companies.
Imprisoned Ex-Tyco CEO Dennis Kozlowski begged for mercy from a parole board last week, before learning later that his plea had been rejected, a newly-released transcript of the proceeding showed Wednesday, USA Today reports.
Medicare/Medicaid fraud costs taxpayers up to $160 billion a year, reports CNBC's Scott Cohn.
Home ownership may be the largest purchase of your lifetime, but if you don’t do your homework before signing on the dotted line, it can end up being your worst financial nightmare.
Foreclosures and delinquencies have soared over the last few years, and the FBI says that has resulted in an increase in mortgage fraud schemes against distressed homeowners.
Peer-to-peer lending is gaining in popularity. Find out how to protect yourself against scams like the one a former mortgage broker in Hawaii pulled on his victims.