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Investment Fraud

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  • NEW YORK, Feb 20- Victims of Bernard Madoff's massive fraud are not entitled to inflation or interest adjustments on their claims, a federal appeals court ruled on Friday, in a decision that could speed the return of more than $1 billion to the swindler's former customers. Irving Picard, the trustee liquidating Bernard L. Madoff Investment Securities LLC, said he...

  • Who’s behind this company’s share price drop? Wednesday, 18 Feb 2015 | 4:30 AM ET

    Iceberg Research, the anonymous commenter that caused shares in Singapore-listed Noble Group to tumble this week, may soon find itself unmasked.

  • This firm's shares get hit after Enron comparison Tuesday, 17 Feb 2015 | 6:16 AM ET

    Noble's shares dropped for a second day despite analysts' skeptical view of an anonymous, critical research report comparing the company to Enron.

  • Are short sellers gunning for Singapore again? Monday, 16 Feb 2015 | 3:37 AM ET
    Pedestrians exit an escalator that runs past an electronic screen and ticker board that indicates stock figures at the Singapore Exchange Ltd. (SGX) headquarters.

    Noble Group has become the latest target of a critical research report, sending its shares sliding, but this time, it's spurred questions about the report's writer.

  • NEW YORK, Feb 11- An administrative judge signaled on Wednesday that he may dismiss U.S. Securities and Exchange Commission charges against two former Wells Fargo& Co employees following a appellate court ruling limiting the reach of insider trading laws. Citing the ruling by the 2nd U.S. Circuit Court of Appeals in New York, Patil ordered the SEC to provide...

  • Payout to Madoff victims tops $7.2 bln Monday, 9 Feb 2015 | 11:59 AM ET

    NEW YORK, Feb 9- The trustee liquidating Bernard Madoff's firm on Monday said he is distributing another $355.8 million to the swindler's victims, bringing the total payout to more than $7.2 billion. Irving Picard, the trustee, said the payout began on Feb. 6, and covers claims by fraud victims with 1,077 accounts at the former Bernard L. Madoff Investment...

  • Intuit halts state filings on fraud concerns   Friday, 6 Feb 2015 | 12:00 AM ET
    Intuit halts state filings on fraud concerns

    Here's what to do if you filed your taxes through Intuit's software

  • NEW YORK, Feb 5- A former SAC Capital Advisors LP portfolio manager avoided prison on Thursday after helping federal authorities win a guilty plea and $1.8 billion in financial penalties from the hedge fund run by billionaire Steven A. Cohen. Freeman was one of eight SAC Capital employees charged with insider trading who either pleaded guilty or were convicted...

  • The SEC said former Barclays Capital analyst John Gray and his friend Christian Keller used disposable prepaid mobile phones to conduct insider trading from 2009 to 2012.. It said that in exchange for kickbacks, Keller provided tips about confidential news he learned while working as a financial analyst at the chipmaker Applied Materials Inc and in...

  • NEW YORK, Feb 3- A former Banco Santander SA executive has been indicted for insider trading ahead of a proposed 2010 takeover of Potash Corp of Saskatchewan Inc by the mining group BHP Billiton Ltd, U.S. prosecutors said on Tuesday. A former adviser to Banco Santander's chief executive, Canas settled a U.S. Securities and Exchange Commission civil lawsuit last...

  • BEIJING, Jan 30- China's securities regulator said on Friday it will punish five fund management companies for faulty internal controls that led to insider trading, another move in a Beijing's widening crackdown on Chinese brokerages and fund managers. The China Securities Regulatory Commission named only two of the five: China Asset Management Co Ltd and...

  • NEW YORK, Jan 29- U.S. prosecutors said on Thursday they will drop charges against five men accused of insider trading ahead of an IBM Corp acquisition after an appellate court ruling limited the ability of authorities to pursue such cases. Attorney Preet Bharara in Manhattan said they would submit paperwork by Feb. 4 to drop the charges after U.S.

  • NEW YORK, Jan 29- U.S. prosecutors said they are prepared to drop charges against five men accused of engaging in insider trading ahead of an International Business Machines Corp acquisition, citing an appellate court ruling that limited the ability of authorities to pursue such cases. Attorney Preet Bharara in Manhattan asked U.S. The case was the latest...

  • District Judge James Mahan in Las Vegas granted an SEC request that MRI International Inc and its owner, Edwin Fujinaga, be ordered to give up $544.4 million of illegal profit and interest, and to each pay a $20 million civil fine. But the SEC said the defendants ran an "extensive and egregious Ponzi scheme" in which they used new money to repay older investors, and...

  • NEW YORK, Jan 26- The U.S. Securities and Exchange Commission on Monday supported a bid by prosecutors in New York for a shot at overturning a ruling that cleared two hedge fund managers of insider trading and limited the ability of authorities to pursue such cases. The SEC, in a court filing, backed Manhattan U.S. In particular, the SEC said the ruling could impede...

  • Defendants in California and Massachusetts have sought to take advantage of a December ruling from the 2nd U.S. Circuit Court of Appeals in New York that narrowed the definition of insider trading, making it harder for prosecutors to pursue their cases. The challenges raise the possibility that the 2nd Circuit decision, legally binding only in New York,...

  • NEW YORK, Jan 23- Federal prosecutors in New York on Friday asked a U.S. appeals court to reconsider a landmark ruling that curtailed their ability to pursue insider trading cases and jeopardized several convictions. Attorney Preet Bharara asked the 2nd U.S. Circuit Court of Appeals to grant a rehearing in the case of hedge fund managers Todd Newman and Anthony...

  • NEW YORK, Jan 23- Federal prosecutors in New York plan on Friday to ask a U.S. appeals court to reconsider a landmark ruling that curtailed their ability to pursue insider trading cases and jeopardized several convictions. Prosecutors will ask the 2nd U.S. Circuit Court of Appeals to grant a rehearing in the case of hedge fund managers Todd Newman and Anthony...

  • NEW YORK, Jan 22- A U.S. judge on Thursday threw out the guilty pleas of four men accused of illegally dealing in shares ahead of an IBM Corp acquisition, the first decision in response to a landmark appellate ruling curtailing prosecutors' ability to bring certain insider trading cases. In the IBM case, prosecutors said a worker at IBM's law firm told former Royal...

  • NEW YORK, Jan 22- A former Galleon Group hedge fund trader on Thursday said he will ask a federal judge to throw out his conviction and 10- year prison sentence, one of the longest imposed in a broad U.S. government probe into insider trading. In that Dec. 10 decision, the 2nd U.S. Circuit Court of Appeals said a trader, to be convicted of insider trading, needed to know the...