Investment Fraud


  • June 2- A southern California jeweler who made $1.6 million from insider trading on tips from former KPMG LLP senior partner Scott London about that firm's clients was sentenced on Monday to five months in prison, federal prosecutors said. District Judge George Wu in Los Angeles after pleading guilty in May 2013 to one count of conspiracy.

  • NEW YORK, June 2- Questions about how to apply securities law to activist investors could complicate any potential insider trading case against billionaire Carl Icahn, pro-golfer Phil Mickelson and Las Vegas gambler William Walters, legal experts said.


  • NEW YORK, May 30- Former Goldman Sachs Group Inc director Rajat Gupta will begin serving a two-year prison term on June 17 after a U.S. federal appeals court rejected his bid to stay free while he appeals his insider trading conviction.

  • NEW YORK, May 29- A New Jersey hedge fund manager pleaded not guilty on Thursday to charges he traded on inside information about the children's clothing company Carter's Inc, according to court papers. Steven Slawson, the co-founder of Titan Capital Management, is the latest defendant to be charged in a probe centered on the Atlanta- based retailer.

  • NEW YORK, May 28- Former hedge fund analyst Matthew Teeple pleaded guilty on Wednesday to a criminal conspiracy charge in connection with the 2008 takeover of a technology company.

  • NEW YORK, May 28- A prison sentence approaching 20 years would be an appropriate punishment for Mathew Martoma, a former SAC Capital Advisors LP fund manager convicted of insider trading, U.S. court officials said, prompting his lawyers to object strenuously.

  • NEW YORK, May 28- U.S. court officials said Mathew Martoma may deserve a record prison term for insider trading, perhaps approaching 20 years, prompting strenuous opposition from lawyers for the former SAC Capital Advisors LP fund manager.

  • NEW YORK, May 28- U.S. court officials said Mathew Martoma may deserve a record prison term for insider trading, a request that lawyers for the former SAC Capital Advisors LP fund manager called "outrageous."

  • The deal resolves allegations brought by the U.S. Securities and Exchange Commission that Glenn Cohen, a former NBTY board member, learned that Carlyle was in negotiations to buy the company and shared the information with his brothers and a brother's girlfriend. Besides Glenn Cohen, the SEC sued his brothers, Craig, Marc and Steven, as well as Laurie Topal.

  • NEW YORK, May 16- Michael Steinberg, a portfolio manager at Steven A. Cohen's SAC Capital Advisors hedge fund, was sentenced on Friday to 3-1/ 2 years in prison for insider trading.

  • U.S. judge tosses SEC case over alleged Ponzi scheme Tuesday, 13 May 2014 | 3:39 PM ET

    "This is a case in which the SEC- the agency whose principal mission is to' protect investors and the markets by investigating potential violations of the federal securities laws- failed to meet its serious duty to timely bring this enforcement action," King wrote.

  • NEW YORK, May 12- U.S. prosecutors are urging a federal judge impose a sentence of up to 6-1/ 2 years in prison for Michael Steinberg, a portfolio manager at Steven A. Cohen's SAC Capital Advisors convicted last year on insider trading charges. He is one of eight current or former employees of SAC Capital to be convicted for insider trading.

  • May 9- A former executive at an e-commerce company that was acquired in 2011 by online retailer eBay Inc pleaded guilty on Friday to insider trading in connection with the takeover. District Judge Stewart Dalzell in Philadelphia, and was released on $300,000 bail, court records show.

  • SYDNEY, May 9- An Australian Bureau of Statistics employee and a National Australia Bank employee have been arrested over insider trading offences that authorities said netted them A $7 million on the foreign exchange derivatives market.

  • WASHINGTON, May 7- Americans convicted of fraud and other white-collar crimes gained a new defender on Wednesday as an advocacy group that has long fought strict drug sentences launched a campaign pushing for lighter punishment for financial crimes.

  • SAC's Steinberg asks for two-year sentence Saturday, 3 May 2014 | 2:39 PM ET

    Eight current or former employees of SAC Capital have been convicted on insider trading charges. In February, a jury found Matthew Martoma, a former portfolio manager at SAC Capital, guilty on charges stemming from an insider trading scheme prosecutors said allowed the hedge fund to make profits and avoid losses of $275 million.

  • NEW YORK, May 2- U.S. prosecutors plan to drop two securities fraud charges against former Galleon Group hedge fund portfolio manager Rengan Rajaratnam, the younger brother of Raj Rajaratnam, who founded the firm and was convicted of insider trading in 2011.. District Judge Naomi Reice Buchwald late Thursday, prosecutors in the office of Manhattan U.S.

  • The lessons of one rogue trader     Monday, 28 Apr 2014 | 8:09 PM ET

    Toshihide Iguchi, Author of 'My Billion Dollar Education - Inside the Mind of a Rogue Trader,' explains his acts that caused Daiwa Bank to lose $1.1 billion in 1995.

  • NEW YORK, April 25- More than five years after his indictment, a U.S. money manager and one-time part owner of the New York Islanders hockey team pleaded guilty Friday to engaging in a massive securities fraud.