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Investment Fraud

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  • Daryl Payton, who had been a trader at Connecticut- based Euro Pacific Capital Inc, pleaded guilty last week to one count of conspiracy to commit securities fraud in federal court in New York. Payton took part in an insider trading scheme centered on a technology company acquired by International Business Machines Corp in 2009.. Three other people have also...

  • The SEC announced the increase in its Nov. 17 annual report, which tracks the success of the whistleblower program and how much it pays out each year in awards. It authorized awards for nine whistleblowers, including a record payout of more than $30 million to a whistleblower overseas who had helped alert the SEC to what it described as an ongoing fraud.

  • SAC's Martoma to begin prison term on Nov. 20 Monday, 17 Nov 2014 | 6:22 PM ET

    NEW YORK, Nov 17- Mathew Martoma, a former portfolio manager at billionaire Steven A. Cohen's hedge fund SAC Capital Advisors LP, has been ordered to begin serving his nine-year prison sentence for his insider trading conviction on Nov. 20. District Judge Paul Gardephe in Manhattan issued the order on Monday, five days after the 2nd U.S. Circuit Court of Appeals...

  • Madoff recoveries top $10 billion with new deal Monday, 17 Nov 2014 | 2:03 PM ET
    Bernard Madoff in 2009

    The court-appointed trustee rounding up funds for victims of the Madoff Ponzi scheme says the total recovered now tops $10 billion.

  • NEW YORK, Nov 17- Billionaire Steven A. Cohen can face questions about insider trading at his hedge fund SAC Capital Advisors from lawyers representing his ex-wife in a civil lawsuit against him, a U.S. judge said on Monday. District Judge Loretta Preska at a court hearing in Manhattan ruled that lawyers for Patricia Cohen can ask Steven Cohen during a Dec. 10...

  • NEW YORK, Nov 13- An information technology engineer at Wilson Sonsini Goodrich& Rosati pleaded guilty on Thursday to insider trading based on information he learned while working at the prominent Silicon Valley law firm. Dimitry Braverman, 41, pleaded guilty in New York federal court to one count of securities fraud, two years after another Wilson Sonsini...

  • EXCLUSIVE-Virtu aiming for spring 2015 IPO -sources Thursday, 13 Nov 2014 | 4:21 PM ET

    NEW YORK, Nov 13- Electronic trading company Virtu Financial LLC hopes to go public in the spring, about a year after it originally planned its market debut, two sources familiar with the matter said on Thursday. Its release nearly coincided with the filing of a high-profile lawsuit by New York's attorney general accusing Barclays Plc of securities fraud in its...

  • NEW YORK, Nov 12- Mathew Martoma, a former portfolio manager at billionaire Steven A. Cohen's SAC Capital Advisors LP hedge fund, on Wednesday lost a bid to stay out of prison while he appeals his insider trading conviction. The 2nd U.S. Circuit Court of Appeals in New York lifted a stay that had enabled Martoma to avoid beginning a nine-year prison sentence for...

  • NEW YORK, Nov 12- Mathew Martoma, a former portfolio manager at billionaire Steven A. Cohen's SAC Capital Advisors LP hedge fund, on Wednesday lost a bid to remain out of prison while he appeals his insider trading conviction. The decision by the 2nd U.S. Circuit Court of Appeals in New York was a blow to Martoma's efforts to avoid commencing a nine-year prison...

  • Magistrate Judge Janet King in Atlanta rejected a claim by Steven Slawson, co-founder of Titan Capital Management, that his May indictment should be tossed because it did not allege he knew an insider disclosed illegal tips for personal gain. Attorney Sally Quillian Yates in Atlanta did not respond to requests for comment on Monday. Meanwhile, a federal...

  • Fabricated firm lures 250 investors  Monday, 10 Nov 2014 | 1:27 PM ET

    CNBC's Andrea Day reports on one man who hid behind an alleged multi-million investment scheme.

  • WASHINGTON, Nov 10- The U.S. Supreme Court on Monday left intact California hedge fund manager Douglas Whitman's conviction for insider trading relating to two trading schemes from 2006 to 2009.. Prosecutors said one scheme led to more than $900,000 of illegal profit from trading the shares of Google Inc and video-conferencing company Polycom Inc, and the...

  • NEW YORK, Nov 6- A Texas man who operated Bitcoin Savings and Trust was charged on Thursday with bilking his investors, in what prosecutors called the first federal criminal securities fraud case arising from a bitcoin-related Ponzi scheme. Trendon Shavers, 32, of McKinney, Texas, was charged with misappropriating about 146,000 of the 764,000 bitcoin, then...

  • NEW YORK, Nov 6- A Texas man who operated Bitcoin Savings and Trust was charged on Thursday with bilking his investors, in what prosecutors called the first federal criminal securities fraud case arising from a bitcoin-related Ponzi scheme. Trendon Shavers, 32, of McKinney, Texas, was charged with misappropriating about 146,000 of the 764,000 bitcoin, then...

  • NEW YORK, Nov 4- Mathew Martoma, a former portfolio manager at billionaire Steven A. Cohen's SAC Capital Advisors LP hedge fund, won an order Tuesday to delay the date he would begin serving a nine-year prison term for insider trading. The 2nd U.S. Circuit Court of Appeals in New York agreed to delay Martoma's surrender date past Nov. 10 until after an appellate panel...

  • NEW YORK, Oct 28- The U.S. and Securities Exchange Commission on Tuesday added more than a dozen relatives of Texas businessmen Sam and Charles Wyly to a long-running securities fraud lawsuit against the brothers to bolster its efforts to collect some $300 million. The filing was expected, as the SEC and the relatives continue to dispute whether hundreds of...

  • Federal prosecutors in New York said David Post, 41, a product manager at the bank, received nonpublic information from a former Rutgers Business School classmate about three companies: Idenix Pharmaceuticals, Ardea BioSciences and ViroPharma Inc.. Prosecutors did not name the classmate, but on Oct. 14 they charged Zachary Zwerko, a former senior finance...

  • NEW YORK, Oct 24- A former portfolio manager who became a key cooperator in a broad U.S. government crackdown on insider trading avoided prison on Friday at her sentencing in New York federal court. Attorney Benjamin Naftalis said Shah offered "remarkable cooperation" that helped lead to the convictions of several individuals and entities, including SAC...

  • Federal prosecutors in New York said David Post, 41, a product manager at the bank, received nonpublic information from a former Rutgers Business School classmate about three companies: Idenix Pharmaceuticals, Ardea BioSciences and ViroPharma Inc.. Prosecutors did not name the classmate, but on Oct. 14 they charged Zachary Zwerko, a former senior finance...

  • The settlement was filed on Thursday by the SEC in New York federal court, three months after a federal jury in Manhattan acquitted Rengan Rajaratnam of conspiring to engage in insider trading, a rare defeat for U.S. prosecutors. Under the agreement with the SEC, Rajaratnam will pay the $841,243 in four equal payments and will neither admit nor deny wrongdoing.