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Investment Fraud

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  • 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

    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

    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

    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.

  • Goldman Sachs Escapes Fraud Charges Again Friday, 22 Jul 2011 | 10:13 AM ET
    The Goldman Sachs booth on the floor of the New York Stock Exchange

    A federal district judge dismissed a securities fraud charge against Goldman Sachs yesterday on grounds that the plaintiffs hadn’t show the transaction occurred in the United States.

  • Muddy Waters founder Carson Block

    Carson Block, the founder of Muddy Waters, says he never knew anyone would be interested in his reports on U.S.-listed Chinese companies.

  • Reverse mergers might have gotten a bad reputation because of questionable deals from China, but don’t write off the entire business, say industry insiders.

  • Senator Lifts Hold On SEC Nominations After SIPC Decision Wednesday, 15 Jun 2011 | 4:48 PM ET
    Allen Stanford

    A day after saying he would block the nominations of two Securities and Exchange Commission members, Louisiana Sen. David Vitter lifted the hold Wednesday. The move came after the SEC said the thousands of investors in the alleged Allen Stanford Ponzi scheme should be entitled to insurance coverage under the federal law that protects U.S. brokerage clients.

  • Pitchman Accused of Bilking Customers Out of $52 Million Wednesday, 15 Jun 2011 | 3:29 PM ET
    Bill and cash

    A grand jury has indicted a Phoenix-based TV pitchman accused of running a nationwide scheme to sell essentially worthless Internet-based businesses to more than 200,000 people.

  • Levin in ‘Real Hope’ of Fresh Goldman Probe Thursday, 19 May 2011 | 1:38 AM ET
    Goldman Sachs

    Carl Levin, chairman of the Senate investigative subcommittee, said there was “real hope” law enforcement authorities would act on his panel’s report accusing Goldman Sachs of misleading investors and Congress, the FT reports.

  • Trump Denies Fraud Allegations, Blasts NY Times Friday, 13 May 2011 | 6:38 PM ET

    Real-estate mogul and potential presidential candidate Donald Trump hotly denied allegations of fraud detailed in a New York Times article, saying if the paper wants to spotlight fraud if should look at itself.

  • An estimated half million Americans have a painful decision to make between today and August 31 — admit to the IRS that they’ve been hiding secret offshore bank accounts, or take their chances the government won’t find out about their secret horde and possibly send them to jail.

  • Diary of a Scam: The Fall of Power Attorney Marc Dreier Wednesday, 13 Apr 2011 | 1:38 PM ET
    Marc S. Dreier

    Dreier, who once headed a 250-member law firm Dreier LLP on New York's exclusive Park Avenue, was arrested in December, 2008, on charges of swindling hedge funds and investment funds in a four-year-long scheme that unraveled in the financial crisis. This is the story of how he bought his way to fame and fortune, using other people's money.