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Investment Fraud

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  • 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.

  • 'Fabulous Fab' found liable  Friday, 2 Aug 2013 | 6:06 AM ET

    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.

  • 'Fabulous Fab' found liable in mortgage-fraud case Thursday, 1 Aug 2013 | 3:31 PM ET
    Former Goldman Sachs bond trader Fabrice Tourre arrives at Manhattan federal court with his lawyers in the civil fraud case against him, in New York, August 1, 2013.

    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.

  • Defense rests in 'Fabulous Fab' trial  Tuesday, 30 Jul 2013 | 8:52 AM ET

    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.

  • SEC wages battle against its own witness Thursday, 18 Jul 2013 | 12:21 PM ET
    Paolo Pellegrini's combative testimony was not what the S.E.C was looking for.

    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.

  • Investor Fraud Keeps Rising: Pro  Friday, 5 Jul 2013 | 11:35 AM ET

    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.

  • Former Enron CEO to Ask for Early Prison Release Thursday, 20 Jun 2013 | 9:45 AM ET
    Former Enron Chief Executive Jeffrey Skilling

    Jeffrey Skilling and federal prosecutors will go before a judge on Friday and ask that the former Enron CEO be released early from prison.

  • Judge Limits Ex-Goldman Sachs Exec's Defense Wednesday, 19 Jun 2013 | 3:01 PM ET

    A federal judge limited the extent to which former Goldman Sachs VP Fabrice Tourre can argue that he was acting on the advice of company lawyers in his defense against fraud charges.

  • Crime & Punishment: $21 Million Fraud  Thursday, 13 Jun 2013 | 1:27 PM ET

    CNBC's Andrea Day reports on Rodney Watts and Courtney Dupree, who conned a bank out of millions of dollars. The pair orchestrated a scheme to defraud Amalgamated Bank and C3 Capital.

  • Hedge Boss Preying on African-Americans Arrested Wednesday, 5 Jun 2013 | 1:53 PM ET
    Fredrick Scott posted photos on his website of himself with the former Knicks star Patrick Ewing.

    Federal prosecutors say Fredrick Douglas Scott, the founder of ACI Capital, stole his client's money.

  • BlackRock Buys MGPA, Creating $25 Billion Fund Tuesday, 21 May 2013 | 8:26 AM ET
    BlackRock Inc. headquarters in New York City.

    BlackRock has bought private-equity real estate fund MGPA in a deal that boosts its presence in Asia and continental Europe.

  • The jeweler who made more than $1 million from allegedly illegal tips is minutes away from entering a plea, reports CNBC's Jane Wells.

  • 'My Father Is Dead to Me': Son of Peregrine Thief Thursday, 9 May 2013 | 10:01 AM ET
    Russell Wasendorf Sr., Former CEO of Peregrine Financial Group.

    Russell Wasendorf Jr., whose father went to prison for stealing $215 million from clients of the Peregrine Financial Group, has pleaded innocent and is attempting to start over.

  • Enron's Skilling in Deal to Exit Prison in 2017 Wednesday, 8 May 2013 | 2:20 PM ET
    Former Enron CEO, Jeff Skilling (L), and his attorney, Daniel Petrocelli.

    Former Enron CEO Jeffrey Skilling would be out of prison in 2017—more than 10 years early—under a proposed sentencing agreement submitted to a judge in Houston.