CNBC's Scott Cohn discuses Allen Stanford's fraud case, considered to be one of the biggest ponzi schemes ever. In this discussion with Ralph Janvey, receiver in the Allen Stanford case, Cohn tries to get to the heart of who Allen Stanford really was.» Read More
NEW YORK, Sept 24- A federal judge on Tuesday pushed back the insider trading trial of former SAC Capital Advisors portfolio manager Mathew Martoma to Jan. 6.
NEW YORK, Sept 24- A federal judge on Tuesday pushed back the insider trading trial of former SAC Capital Advisors portfolio manager Mathew Martoma to Jan. 6. District Judge Paul Gardephe delayed the trial, originally scheduled for Nov. 4, at the request of Martoma's lawyer, Richard Strassberg, who is taking part in another trial starting this week.
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 serving a 50- year prison term.
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.
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 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.
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.
Ron Geffner, former SEC enforcement attorney, discusses Thursday's verdict after the jury found former Goldman Sachs trader Fabrice Tourre liable for his role in defrauding investors.
After a day and a half of deliberation a jury found former Goldman Sachs banker Fabrice Tourre liable on six of seven civil counts linked to a bet on the housing market, reports CNBC's Mary Thompson.
The former Goldman Sachs bond trader known as "Fabulous Fab" was found liable on six of seven counts of defrauding investors in a mortgage securities fraud case brought by the SEC.
The defense team for former Goldman Sachs trader Fabrice Tourre accused of defrauding investors in a mortgage deal six years ago rested yesterday without calling any witnesses, reports CNBC's Scott Cohn with the latest details.
The SEC had hoped to use testimony from Paolo Pellegrini to support its case against Fabrice Tourre, charged with defrauding investors, but Pellegrini testified the opposite.
Hitesh Patel, U.K. forensic partner at KPMG, discusses the U.K.'s fraud barometer, and how fraud against investors has quadrupled since the beginning of the downturn.
Jeffrey Skilling and federal prosecutors will go before a judge on Friday and ask that the former Enron CEO be released early from prison.