Crime Investment Fraud

  • David Demos, 35, was charged with securities fraud in an indictment filed in federal court in New Haven, Connecticut, becoming the latest trader to face charges for cheating customers on prices of mortgage-backed securities. Prosecutors said Demos, a trader and managing director at Cantor Fitzgerald from November 2011 to February 2013, defrauded customers...

  • White collar crime

    A former Cantor Fitzgerald trader is accused of defrauding investors in mortgage bond transactions.

  • NEW HAVEN, Conn.— A former trader for Cantor Fitzgerald& Co. has been indicted on securities fraud charges. Federal prosecutors in Connecticut say 35- year-old David Demos, of Westport, cheated customers by fraudulently manipulating prices for residential mortgage-backed securities. Demos worked as a trader and managing director at Cantor Fitzgerald from...

  • David Demos, 35, was charged in an indictment filed in federal court in New Haven, Connecticut, with securities fraud, becoming the latest trader to face charges for cheating customers on prices of mortgage-backed securities.

  • David Damos, 35, was charged in an indictment filed in federal court in New Haven, Connecticut, with securities fraud, becoming the latest trader to face charges for cheating customers on prices of mortgage-backed securities.

  • EX-CANTOR FITZGERALD MORTGAGE BOND TRADER INDICTED IN UNITED STATES FOR SECURITIES FRAUD: PROSECUTORS.

  • Dec 6- The U.S. Supreme Court on Tuesday made it easier to prosecute insider trading cases, ruling that tipsters who provide confidential information that enables friends and family to profit do not need to get something in return to have broken the law. In the court's first insider trading ruling in two decades, the justices by an 8-0 vote upheld the 2013...

  • The justices, in an 8-0 decision, upheld the 2013 conviction of Bassam Salman, a Chicago man who made nearly $1.2 million trading on non-public information that came from his brother-in-law at Citigroup Inc. It was the court's first ruling in an insider trading case in two decades. The ruling was a major victory for securities regulators and prosecutors, who for...

  • District Judge Cecilia Altonaga said the SEC has already made an example of former budget director Michael Boudreaux in its first municipal securities fraud case to go to trial. Though a jury found Boudreaux acted with severe recklessness, he did not gain financially from his conduct, Altonaga said, adding that the fine the SEC was seeking appeared "...

  • Dec 6- The U.S. Supreme Court, ruling in an insider trading case for the first time in two decades, on Tuesday upheld a Chicago man's conviction in a decision that could make it easier to prosecute people accused of profiting from confidential information. The justices, in an 8-0 decision, ruled against Bassam Salman, who was appealing a 2013 conviction stemming...

  • Dec 6- The U.S. Supreme Court, ruling in an insider trading case for the first time in two decades, on Tuesday upheld a Chicago man's conviction in a decision that could make it easier to prosecute people accused of profiting from confidential information. The justices, in an 8-0 decision, ruled against Bassam Salman, who was appealing a 2013 conviction stemming...

  • WASHINGTON— A unanimous Supreme Court on Tuesday sided with the government in a legal clash over the nation's insider trading laws, a victory for prosecutors seeking to curb corruption on Wall Street. It also limited the impact of a 2014 ruling from the federal appeals court in Manhattan that had raised doubts about the scope of insider trading laws.

  • Dec 6- The U.S. Supreme Court, ruling in an insider trading case for the first time in two decades, on Tuesday upheld a Chicago man's conviction in a decision that could make it easier to prosecute people accused of profiting from confidential information.

  • Jonathan Ly, 28, entered his plea in federal court in Seattle to one count of securities fraud stemming from an insider trading scheme that prosecutors said netted the San Francisco resident $331,000. He also reached a $375,907 settlement with the U.S. Securities and Exchange Commission. Ly is deeply sorry for the activity he engaged in and the people and...

  • Jonathan Ly, 28, entered his plea in federal court in Seattle to one count of securities fraud stemming from an insider trading scheme that prosecutors said netted the San Francisco resident $331,000. As part of a plea deal, Ly agreed to repay Expedia the $81,592 it spent investigating the computer intrusion. He also reached a $375,907 settlement with the U.S....

  • SEATTLE— A former information technology worker at Expedia Inc. pleaded guilty Monday to securities fraud after authorities said he used his access to the computers of top executives to rummage through their email, then made lucrative, illegal stock trades based on the inside information he discovered. He has agreed to pay the Securities and Exchange...

  • Irfan Amanat, 45, was charged in a complaint filed in Manhattan federal court with conspiracy, securities fraud and wire fraud stemming from a scam prosecutors said he engaged in with his brother. Irfan Amanat, who a decade ago was the subject of a U.S. Securities and Exchange Commission case related to his time as chief technology officer of Tradescape Corp, was...

  • ALEXANDRIA, Va.— A political donor and cable news commentator pleaded guilty Friday to federal criminal charges in what prosecutors described as a $30 million investment fraud scheme tied to his health-technology company. Sreedhar Potarazu, 51, an ophthalmogist from Potomac, Maryland, was appointed to serve on the credentials committee to this year's...

  • NEW YORK, Nov 30- Billionaire Steven A. Cohen's former hedge fund SAC Capital Advisors LP will pay $135 million to settle a lawsuit by investors in the drugmaker Elan Corp, who said they lost money because of insider trading by one of his portfolio managers. The preliminary class-action settlement with SAC, now known as Point72 Asset Management LP, was filed on...

  • NEW YORK, Nov 30- Billionaire Steven A. Cohen's former hedge fund SAC Capital Advisors LP will pay $135 million to settle a lawsuit by investors in Elan Corp, who said they lost money on the drugmaker due to insider trading by one of his portfolio managers. It resolves class-action claims over an estimated $275 million of illegal gains that Mathew Martoma, who...