*Minnesota businessman claims wasn't told of plea offer. Dec 6- Minnesota businessman Thomas Petters has failed to persuade a federal judge to reduce his 50- year prison term for running a $3.65 billion Ponzi scheme.» Read More
Sept 23- Toronto-Dominion Bank will pay $52.5 million in civil penalties to settle charges by U.S. regulators that it violated securities laws in connection with a Ponzi scheme conducted by Florida lawyer Scott Rothstein, who is now serving a 50- year prison term.
NEW YORK, Sept 23- Lawyers for Steven A. Cohen's embattled $14 billion hedge fund, SAC Capital Advisors, have reached out to U.S. prosecutors in Manhattan to try to settle insider trading charges, Bloomberg Businessweek reported on Monday.
TD was fined $37.5 million by the Financial Crimes Enforcement Network, $37.5 million by the Office of the Comptroller of the Currency and $15 million by the U.S. Securities and Exchange Commission.
Notable sentences in securities fraud cases include former Enron Corp Chief Executive Jeffrey Skilling, who in June received a reduced term of 14 years in prison; former WorldCom CEO Bernard Ebbers, who in 2005 was sentenced to 25 years in prison; and disbarred New York lawyer Marc Dreier, who was sentenced to 20 years in 2009. Insider-trading sentences are covered by a different section of the guidelines.
"I knew that my actions were wrong in violation of the law," Martin said in U.S. District Court in New York. Last November, the U.S. Justice Department and the U.S. Securities and Exchange Commission charged two former stockbrokers, Thomas Conradt and David Weishaus, for their role in the scheme.
NEW YORK, Sept 10- A federal bankruptcy judge said victims of Bernard Madoff's fraud are not entitled to interest or inflation adjustments on their claims, a decision that could speed the return of $1.36 billion to the swindler's former customers.
WASHINGTON, Sept 5- A Thailand- based trader will pay $5.2 million to settle civil charges that he traded on nonpublic information ahead of a public announcement about the proposed acquisition of Smithfield Foods Inc by China- based Shuanghui International Holdings, U.S. regulators said.
NEW YORK/ BOSTON, Sept 4- A U.S. judge put on hold a civil forfeiture lawsuit against Steven A. Cohen's SAC Capital Advisors hedge fund on Wednesday while a criminal insider-trading case moves forward.
NEW YORK, Aug 30- A U.S. appeals court upheld the 2008 fraud conviction of money manager and arts patron Alberto Vilar, but ordered that he be resentenced, in a decision that may set back some government efforts to fight insider trading and other securities fraud.
CNBC'S Eunice Yoon reports questions remain whether Zeng Chengjie, found guilty of defrauding investors in a Ponzi scheme, was a con man or a victim of China's shadow banking system.
The SEC on Monday said it obtained an emergency court order to freeze the assets of defendants John Marcum and his firm Guaranty Reserves Trust LLC. The SEC said Marcum regularly gave clients account statements showing annualized returns of more than 20 percent with no monthly losses.
NEW YORK, Aug 22- U.S. prosecutors on Thursday filed a superseding indictment in the insider trading case against a former portfolio manager at an affiliate of Steven A. Cohen's hedge fund SAC Capital Advisors, according to court papers.
The Financial Industry Regulatory Authority, Wall Street's industry-funded watchdog, warned that scammers have been targeting investors attempting to tap into the growing U.S. marijuana industry. Nearly 20 states permit the use of marijuana for medical purposes, and voters in Washington and Colorado recently made recreational use legal as well.
*Inspections mandated after Madoff Ponzi scheme. NEW YORK, Aug 19- Many financial auditors are failing to properly check for accounting fraud risks at U.S. broker-dealers or test controls over customer funds, new inspections mandated by Congress after Bernard Madoff's massive Ponzi scheme have found.
The U.S. has filed criminal complaints against Julien Grout and Javier Martin-Artajo and will hold a news conference today to discuss details of the case, reports CNBC's Kate Kelly.
CNBC's Scott Cohn has the latest details on a penny scheme totaling $140 million resulting in 9 people indicted.
*SEC protected by exception to Federal Tort Claims Act. *Victims say SEC knew of Stanford Ponzi scheme in 1997. SEC spokesman Kevin Callahan declined to comment.
CNBC's Scott Cohn has the latest on a penny stock fraud which totaled over $140 million. The Justice Department is calling it the largest penny stock scheme ever.
Parameter Capital Management, which had managed money for SAC since 2010, traded mainly financial stocks.
Convicted Ponzi schemer Marc Dreier is being forced to turn over his multimillion-dollar art collection, including works by Andy Warhol and Mark Rothko, to a victim of his fraud.