Investment Fraud
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KANSAS CITY, Mo.-- Three weeks after the start of a securities fraud trial involving a Kansas City company whose leaders are accused of bilking unsophisticated investors out of millions of dollars, closing arguments that were supposed to begin Monday were pushed back a day because of problems with jury instructions.
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Curtis Dowling discusses the mission of his new CNBC Prime reality series which uses high tech science to dig into the history of potentially counterfeit items.
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The Supreme Court limits the SEC by voting the five-year clock to act on fraud starts when the fraud takes place rather than when it is discovered.
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A federal judge ordered former Goldman Sachs director Rajat Gupta to reimburse $6.22 million to the bank to help cover its legal expenses related to his criminal insider trading case.
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Feb 25- A federal judge on Monday ordered former Goldman Sachs Group Inc director Rajat Gupta to reimburse $6.22 million to the bank to help cover its legal expenses related to his criminal insider trading case. District Judge Jed Rakoff said the bank had proved it was entitled to 90 percent of what it requested.
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Feb 25- A federal appeals court has made it harder for investors to rely on reports from short sellers when bringing securities fraud lawsuits, in a case against a Florida developer long criticized by prominent hedge fund manager David Einhorn.
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People who lost money by investing in funds that funneled their money to Bernard Madoff's Ponzi scheme are not entitled to recover for their losses in the manner that direct victims of the massive fraud can recover, a federal appeals court ruled on Friday.
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Should investors be extremely concerned about the widespread theft of information from corporate networks?
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Feb 22- People who lost money by investing in funds that funneled their money to Bernard Madoff's Ponzi scheme are not entitled to recover for their losses, in the manner that direct victims of the massive fraud can recover, a federal appeals court ruled on Friday.
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*James Tagliaferri, 73, faces criminal, SEC civil charges. The 15- count criminal indictment accused James Tagliaferri, 73, of investing more than $120 million of funds he oversaw at TAG Virgin Islands LLC in St. Thomas in private or illiquid companies, in exchange for at least $3.35 million in fees.
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Feb 20- Lockheed Martin Corp has agreed to pay $19.5 million to settle a securities fraud class-action lawsuit accusing the company of misleading investors about the prospects for its information technology division, according to court papers.
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Feb 20- Lockheed Martin Corp has agreed to pay $19.5 million to settle a securities fraud class-action lawsuit accusing it of misleading investors about the expected performance of its information technology division, according to court papers.
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Feb 20- Lockheed Martin Corp has agreed to pay $19.5 million to settle a securities fraud class-action lawsuit accusing the company of misleading investors about the prospects for its information technology division, according to court papers.
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NEW YORK, Feb 15- Hedge fund billionaire Steven A. Cohen is feeling the pinch from the federal government's insider trading probe as outside investors in his SAC Capital Advisors submitted a request to withdraw $1.68 billion from the firm by year's end.
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*Gilbert Lopez, Mark Kuhrt convicted in November. Feb 14- The final two defendants convicted for helping the former Texas billionaire financier Allen Stanford swindle investors were each sentenced on Thursday to 20 years in prison over their roles in his $7.2 billion Ponzi scheme.
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A new distribution announced Tuesday by court-appointed trustee Irving Picard will bring the total amount returned to investors past $5 billion for the first time.
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A payday for victims of Bernie Madoff's Ponzi scheme, as the trustee rounding up the fraudulent funds is set to give back more of it, reports CNBC's Scott Cohn.
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Concern is growing about risks to U.S.-based multinationals in a country where American audit regulators are locked out by the Chinese government and bribery and fraud are routine.
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VIENNA, Feb 8- An Austrian court has ruled against Bank Austria in a case brought by an investor over a fund linked to Bernard Madoff, the U.S. financier convicted of fraud.
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*K1 founder Helmut Kiener, accomplice, charged. Feb 7- A German hedge fund founder convicted in his home country of running a Ponzi scheme faces U.S. charges along with an accomplice over frauds that cost investors more than $300 million, the U.S. Department of Justice said on Thursday.
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NEW YORK, Feb 6- U.S. prosecutors are nearing a decision on whether to pursue criminal charges against SAC Capital Advisors portfolio manager Michael Steinberg related to an insider trading investigation involving shares of Dell Inc, according to two people familiar with the matter.