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Investment Fraud


  • 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.

  • 'Fabulous Fab' seeks to toss SEC fraud verdict Tuesday, 1 Oct 2013 | 2:53 PM ET
    Fabrice Tourre

    Ex-Goldman VP Fabrice Tourre asked a federal judge to dismiss the SEC case against him or set a new trial.

  • China's 'Madoff'' execution raises questions   Thursday, 29 Aug 2013 | 6:35 AM ET
    China's 'Madoff'' execution raises questions

    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.

  • Two charged in 'London Whale' case   Wednesday, 14 Aug 2013 | 9:47 AM ET
    Two charged in 'London Whale' case

    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.

  • 9 indicted in largest penny stock scheme   Tuesday, 13 Aug 2013 | 4:12 PM ET
    9 indicted in largest penny stock scheme

    CNBC's Scott Cohn has the latest details on a penny scheme totaling $140 million resulting in 9 people indicted.

  • FBI indicts 9 in penny stock scheme   Tuesday, 13 Aug 2013 | 11:38 AM ET
    FBI indicts 9 in penny stock scheme

    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.

  • SAC-linked fund closes as shrinkage sets in Monday, 12 Aug 2013 | 2:04 PM ET

    Parameter Capital Management, which had managed money for SAC since 2010, traded mainly financial stocks.

  • Ponzi-schemer turns over Warhols, Rothkos Monday, 12 Aug 2013 | 12:37 PM ET
    A Roy Lichtenstein hanging at Christie's in London

    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.