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Investment Fraud

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  • NEW YORK, Nov 4- Steven A. Cohen's embattled hedge fund SAC Capital Advisors will plead guilty in federal court and pay $1.8 billion to settle charges stemming from an insider trading investigation that lasted more than five years, prosecutors said on Monday.

  • NEW YORK, Nov 4- Steven A. Cohen's embattled hedge fund SAC Capital Advisors will plead guilty in federal court and pay more than $1 billion to settle charges stemming from an expansive insider trading investigation that lasted more than five years, sources familiar with the matter said on Monday.

  • *Robert Ramnarine pleaded guilty to securities fraud. *Ramnarine forfeits $324,777 to SEC. Robert Ramnarine of East Brunswick, New Jersey, admitted in June to one count of securities fraud for trading in Amylin Pharmaceuticals Inc stock options before Bristol-Myers agreed to buy the biotechnology company in June 2012 for $5.3 billion.

  • NEW YORK, Oct 23- A federal appeals court has upheld the conviction of Winifred Jiau, a California technology consultant who prosecutors said used code language to disguise an insider trading scheme in which she gave live lobsters and other gifts in exchange for nonpublic information.

  • *Robert Ramnarine pleaded guilty to securities fraud. *Ramnarine forfeits $324,777 to SEC. Robert Ramnarine, of East Brunswick, New Jersey, admitted in June to one count of securities fraud for trading in Amylin Pharmaceuticals Inc stock options before Bristol-Myers agreed to buy the biotechnology company in June 2012 for $5.3 billion.

  • NEW YORK, Oct 23- A federal appeals court has upheld the conviction of Winifred Jiau, a California technology consultant who prosecutors said used code language to disguise an insider trading scheme in which she gave live lobsters and other gifts in exchange for nonpublic information.

  • 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.

  • NEW YORK, Oct 22- Steven A. Cohen's SAC Capital Advisors will shut down its London office by the end of the year as the hedge fund downsizes in response to a long-running insider trading investigation, according to a memo sent to staff on Tuesday.

  • NEW YORK, Oct 22- Steven A. Cohen's SAC Capital Advisors will shut down its London office by the end of the year, according to a report by Bloomberg that cited an unidentified person with direct knowledge of the decision. The reported closure comes as the Stamford, Connecticut- based hedge fund downsizes in response to a long-running insider trading investigation.

  • 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

    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

    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

    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

    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.

  • Tourre found guilty of mortgage fraud     Friday, 2 Aug 2013 | 7:32 AM ET

    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.

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