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Investment Fraud

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  • JPMorgan shovels out cash to bury Madoff legacy Tuesday, 7 Jan 2014 | 10:42 AM ET
    JP Morgan Chase

    JPMorgan will pay a $350 million penalty to the U.S. Office of the Comptroller of the Currency in addition to a $1.7 billion forfeiture to settle charges in the Madoff deal.

  • Ex-SAC trader on trial   Tuesday, 7 Jan 2014 | 10:26 AM ET
    Ex-SAC trader on trial

    Opening statements in the trial for ex-SAC trader Matthew Martoma could begin Wednesday. CNBC's Kate Kelly reports jury selection has begun.

  • JPM to settle with Irving Picard for $543 million   Tuesday, 7 Jan 2014 | 10:20 AM ET
    JPM to settle with Irving Picard for $543 million

    CNBC's Scott Cohn reports JPMorgan will settle with trustee Irving Picard for $543 million. Picard will disperse the funds to the Madoff victims.

  • JPM to pay $1.7 billion to DOJ   Tuesday, 7 Jan 2014 | 9:35 AM ET
    JPM to pay $1.7 billion to DOJ

    CNBC's Scott Cohn reports JPMorgan will pay $1.7 billion to the DOJ for its dealings with Bernie Madoff. The bank will also admit wrongdoing in a deferred prosecution agreement. No individuals will be held accountable.

  • JPMorgan Chase will not be penalized following accusations that it ignored Bernard Madoff's Ponzi scheme, the Wall Street Journal reported.

  • JPMorgan near deal in Madoff case   Monday, 6 Jan 2014 | 2:40 PM ET
    JPMorgan near deal in Madoff case

    An announcement of a settlement deal between JPMorgan and regulators in the Madoff case could come as early as Tuesday. CNBC's Scott Cohn reports that the company says employees acted in good faith.

  • JPM & Madoff settlement in the works   Monday, 6 Jan 2014 | 1:42 PM ET
    JPM & Madoff settlement in the works

    CNBC's Kayla Tausche reports JPMorgan could reach a $2 billion settlement with the Department of Justice this week. CNBC's Scott Cohn provides perspective.

  • JPM nears $2 billon settlement with DOJ   Monday, 6 Jan 2014 | 10:12 AM ET
    JPM nears $2 billon settlement with DOJ

    CNBC's Kayla Tausche reports JPMorgan could reach a $2 billion settlement with the Department of Justice this week. The deal could also include a deferred prosecution agreement which would rule out criminal charges.

  • White-collar crime rewind   Friday, 27 Dec 2013 | 1:30 PM ET
    White collar crime rewind

    CNBC's Andrea Day looks back at this year's biggest crime stories, including rock star wannabe, Rob Mawhinney, who stole over $11 million and is now serving seven years in prison.

  • Jordan Belfort: Con artist to consultant   Thursday, 19 Dec 2013 | 11:54 AM ET
    Jordan Belfort: Con artist to consultant

    CNBC's Jane Wells interviews Jordan Belfort, the real "Wolf of Wall Street." Belfort describes his con and how he manipulated his own brokers.

  • SAC's Steinberg to be sentenced April 25   Wednesday, 18 Dec 2013 | 4:50 PM ET
    SAC's Steinberg sentenced April 25th

    SAC Capital's Michael Steinberg has been found guilty on conspiracy and four counts of securities fraud. He could face up to 85 years in prison. CNBC's Kate Kelly reports.

  • SAC Capital's Steinberg guilty on all 5 counts   Wednesday, 18 Dec 2013 | 3:57 PM ET
    SAC Capital's Steinberg guilty on all 5 counts

    CNBC's Kate Kelly reports former SAC trader Michael Steinberg has been found guilty on five counts ranging from conspiracy to securities fraud and faces a maximum of 85 years in prison.

  • Jury deliberating on Steinberg fraud case   Tuesday, 17 Dec 2013 | 11:56 AM ET
    Jury deliberating on Steinberg fraud case

    CNBCs Kate Kelly reports a jury is deliberating on the fate of former SAC trader Michael Steinberg who faces 85 years in jail.

  • Judge: DOJ is not 'pulling any punches'   Tuesday, 17 Dec 2013 | 11:50 AM ET
    Judge: DOJ is not 'pulling any punches'

    Hon. Richard Holwell, former federal judge, addresses why he thinks no Wall Street executives have been prosecuted during the recent financial crisis and if there has been a breakdown in the justice system.

  • Ex-SAC trader to cite Cohen testimony in case Saturday, 7 Dec 2013 | 1:43 PM ET

    A former SAC Capital Advisors trader wants to cite in court some 2012 testimony given by the hedge fund's founder Steven Cohen, claiming it rebuts the government's case.

  • Fmr. CFO: Madoff Securities forged documents during audit

    CNBC's Scott Cohn reports new details on just how far Bernard Madoff went to hide his investment fraud.

  • SAC to shutter London office in downsizing move Tuesday, 22 Oct 2013 | 2:45 PM ET
    Steven A. Cohen

    SAC Capital Advisors will shut down its London office by the end of the year as the hedge fund downsizes, according to a memo sent to staff on Tuesday.

  • Madoff litigation could soon impact major banks Monday, 14 Oct 2013 | 7:22 PM ET
    Bernard Madoff

    If the Madoff trustee is successful in suing banks for ignoring warning signs, the liability of financial firms could be enormous in future cases.

  • Fire sale: SAC's Cohen sells art as legal bills rise Monday, 14 Oct 2013 | 11:04 AM ET
    Steven A. Cohen

    As legal bills rise, billionaire hedge-fund manager Steven A. Cohen has sold stock, and now artwork, to meet withdrawal requests from investors. NYT.

  • Male, rich and smart? You're a scammer's dream Thursday, 10 Oct 2013 | 9:37 AM ET

    A new report from FINRA Investor Education gives surprising details on who’s most likely to get scammed. You may be more vulnerable than you think.