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
Before anyone had heard of Bernie Madoff, Minnesota businessman Tom Petters carried out the largest Ponzi scheme in U.S. history.
Rajaratnam tapped a vast network of Wall Street insiders to funnel him inside information. Read on to go inside this Wall Street scandal!
CNBC's Scott Cohn has the latest details on the guilty verdict in one of the largest Ponzi schemes in U.S. history.
KNTV's Scott Budman reports Sprint has walked away from a major deal with MetroPCS; Japanese regulators say AIJ Investment Advisors lost $2 billion dollars in pension assets it managed; shares of Kenneth Cole Productions soared after Kenneth Cole himself offered to buyback shares of the company; Starboard Value doesn't like the way AOL is being run, so it filed to nominate five people to the board; and shares of TiVo slid 3% after it issued a downbeat forecast.
Billionaire Tom Petters was a respected CEO for more than a decade. His companies included iconic American brands like Polaroid, Sun Country Airlines and Fingerhut. But these legitimate businesses were purchased with dirty money. Petters' reputation was built on a foundation of lies. American Greed takes you inside the collapse of a billion-dollar empire!
We hear about it almost every day—investors across the country are being ripped off through fraud schemes. Learn the warning signs and how to protect yourself against individuals who are only interested in making your money theirs.
FBI agents have arrested research analyst John Kinnucan at his Oregon home on Thursday evening, and is being detained overnight.
If you’ve scoured the classified ads, you’ve seen listings offering big money to the self-employed. Be your own boss and earn a fortune while clad in a bathrobe and flip-flops! Unfortunately, these ads often target people without jobs, and if they take the bait, they become trapped in a self-employment scam.
CNBC's Scott Cohn has the latest details on the Allen Stanford fraud case.
A Wisconsin woman has been charged with theft over accusations she tried to profit from Facebook's much-anticipated plans to go public by selling fake stock in the social media giant.
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.
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.
Who are some of these white collar criminals and what did they do? Click ahead for 12 fugitives wanted by the FBI.
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.
CNBC's Scott Cohn reports on more than $1.5B in losses as a result of Utah ponzi schemes.
Add health care fraud to ponzi schemes and insider trading at the top of the list of wrongdoing in the financial world.
CNBC's Kayla Tausche has the story on the missiny money hunt at MF Global.
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.
Many are still concerned that they cannot access trades through MF Global. Anant Shah, Whitepearls trader, says he has $35 million dollars tied up in the firm.
The SEC has reportedly launched a probe into MF Global. Dan Primack, Fortune.com senior editor, discusses whether the company's CEO could have been in violation of the law.