Investment Fraud
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BOSTON, Dec 6- Hedge fund Diamondback Capital Management, one of a handful of firms embroiled in the government's insider trading probe, told investors that it will close down after nervous clients pulled out more than half a billion dollars in assets.
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CNBC's Scott Cohn reports the latest list of the world's most corrupt countries and those with the "cleanest" rankings.
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NEW YORK, Dec 4- Former Goldman Sachs Group Inc board member Rajat Gupta can remain free on bail while he appeals his insider-trading conviction, an appeals court ruled on Tuesday. But after hearing arguments from Gupta's lawyer and prosecutors, a two-judge panel of the 2nd U.S. Circuit Court of Appeals in New York granted Gupta's request to stay out of prison.
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According to the regulator, the former banker, Igor Cornelsen, 64, prodded his broker, Waldyr Da Silva Prado Neto, for tips after Prado, who then worked at Wells Fargo& Co, had learned from a customer that Burger King was up for sale. Burger King agreed on Sept. 2, 2010, to be bought by private equity firm 3 G Capital Partners Ltd for $3.26 billion, or $24 per share.
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The SEC said the settlement with the former banker Igor Cornelsen and Bainbridge Group Inc, the firm in which he made his trades, includes a $3.36 million fine, the disgorgement of $1.68 million of illegal profit, and $136,621 of interest.
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According to the SEC, Parker allegedly tipped off Van Gilder and at least one other friend about the upcoming investment by Tracinda. The SEC also claims Parker told Van Gilder about Delta's confidential third quarter 2007 earnings. All of the various tips helped generate more than $890,000 in illicit profits, the SEC said.
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WASHINGTON, Nov 28- U.S. securities regulators on Wednesday charged the former chief executive of Delta Petroleum Corp with leaking confidential information to his friend about an impending large investment in the company by a well-known private firm.
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Former hedge fund portfolio manager Mathew Martoma will have to put up $5 million bail to remain free on insider trading charges.
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Former hedge fund portfolio manager Matthew Martoma is due in court any minute on charges of conspiracy to commit securities fraud, with CNBC's Bertha Coombs & Judge Richard Holwell, Holwell Shuster & Goldberg.
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Richard Holwell, Holwell Shuster & Goldberg partner, explains the courts view of insider trading, and how the government may build its case against former fund manager, Mathew Martoma, who is accused of making more than $276 million in illicit profits.
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Callers touting hurricane-related investments may be scam artists capitalizing on the storm.
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A look ahead to next week's insider trading trial of Anthony Chaisson, Level Global Investors co-founder, with CNBC's Gary Kaminsky.
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Michael Fertik, Reputation.com founder & CEO, discusses the fast way to protect yourself from online cyber attacks.
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CNBC's Eamon Javers reports the U.S. government will award Bradley Birkenfeld $104 million for information he provided about Swiss bank, UBS.
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State securities administrators listed four new types of fraud among their annual list of investor threats, including crowdfunding scams and gold-related ripoffs.
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Discussing the impact of the Libor scandal; the pending fiscal cliff; low mortgage rates; and the Fed's next move, with Doug Dachille, First Principles Capital Management CEO & chief investment officer.
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CNBC's Gary Kaminsky discusses insider trading, bribery and derivatives manipulation on Wall Street, with Bruce Karpati, SEC asset management enforcement co-chief.
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The IRS inspector general is releasing new information on identify theft. CNBC's Eamon Javers reports.
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A new IRS report indicates identity theft is a bigger and more expensive problem than anyone ever thought. CNBC's Eamon Javers reports the details.