Crime Investment Fraud

  • Sept 30- A former Morgan Stanley stockbroker who participated in a $5.6 million insider trading ring involving stock tips passed on napkins and Post-it notes in New York's Grand Central Terminal was sentenced to three years in prison on Friday, federal prosecutors said. District Judge Michael Shipp in Trenton, New Jersey, two years after pleading guilty to...

  • MIAMI— A former South Florida concert promoter who staged tours for major acts such as the Rolling Stones, Elton John and Aerosmith deserves more than 17 years in prison for running his company as a $200 million fraud scheme, a federal prosecutor told a judge Thursday. Jack Utsick, 73, should get a lengthy sentence for defrauding some 3,000 investors by running...

  • Gary Hirst, 64, was found guilty by a federal jury in Manhattan on all four counts he faced, including conspiracy, securities fraud and wire fraud charges, according to court records. District Judge Kevin Castel increased Hirst's bond from $1 million to $3 million and ordered the Florida resident be placed in custody until he could meet the new bail conditions.

  • Gary Hirst, 64, was found guilty by a federal jury in Manhattan on all four counts he faced, including conspiracy, securities fraud and wire fraud charges, according to court records. Noam Biale, a lawyer for the Lake Mary, Florida- resident, said he was disappointed and planned to appeal. Galanis, a Los Angeles resident whose father and two brothers were also charged,...

  • Lynn Tilton, CEO of Patriach Partners.

    The U.S. Supreme Court rejected a request by a financier accused of defrauding investors to put on hold an SEC enforcement action.

  • The Securities and Exchange Commission in Washington.

    Weatherford International Plc agreed to pay a $140 million penalty to settle charges that it inflated earnings using deceptive income tax accounting.

  • Sept 23- The city of Miami and the U.S. Securities and Exchange Commission reached a tentative settlement after a jury found the city liable for securities fraud in the sale of over $150 million in municipal debt in 2009.. Lawyers for the SEC and the city said in a Thursday court filing that the proposed settlement would allow both sides to avoid further...

  • The SEC's complaint, filed in federal district court in Philadelphia, accuses the legendary investor of earning about $4 million in illicit profits from trading in Atlas Pipeline Partners after a corporate insider gave him confidential information about a big divestiture. The SEC has framed its case, as I'll explain, to avoid the question at the Supreme Court.

  • NEW YORK, Sept 21- The latest insider trading charges by U.S. securities regulators placed an unwelcome spotlight on billionaire Leon Cooperman, the son of a Bronx plumber who rose to become one of the most gifted stock pickers of his generation. Earlier on Wednesday, the Securities and Exchange Commission charged Cooperman and his hedge fund firm, Omega...

  • NEW YORK, Sept 21- The top U.S. securities regulator on Wednesday charged billionaire investor Leon Cooperman with insider trading, making him the highest-profile target in years in Washington's ongoing crackdown on illegal trading at hedge funds. The U.S. Securities and Exchange Commission said Cooperman's trades earned roughly $4 million when his fund...

  • NEW YORK, Sept 21- The top U.S. securities regulator on Wednesday charged billionaire investor Leon Cooperman with insider trading, making him the highest-profile target in years in Washington's ongoing crackdown on illegal trading at hedge funds. The U.S. Securities and Exchange Commission said Cooperman's trades earned roughly $4 million when his fund...

  • Sept 21- Billionaire investor Leon Cooperman was charged with insider trading by the top U.S. securities regulator on Wednesday, making him the highest-profile target in years in the government's crackdown on illegal trading at hedge funds. The U.S. Securities and Exchange Commission said Cooperman's trades earned roughly $4 million after he bought the...

  • The SEC also alleged that Cooperman tried to cover up the misconduct. The SEC indicated it was sending a message that well known and wealthy people aren't exempt from its efforts to pursue insider trading. The SEC said Cooperman profited illegally in July 2010 by buying securities in Atlas Pipeline Partners in advance of the sale of its natural gas processing...

  • NEW YORK, Sept 15- HSBC Holdings Plc on Thursday won the dismissal of a lawsuit by former Bernard Madoff customers who accused the British bank of fueling his massive Ponzi scheme by ignoring red flags and encouraging "feeder funds" to invest with him. District Judge Laura Taylor Swain in Manhattan said a federal law governing securities fraud cases prevented...

  • District Judge Michael Shipp in Trenton, New Jersey, after pleading guilty last November to securities fraud and conspiracy charges, prosecutors said. According to prosecutors, Metro, 42, of Katonah, New York, would pass tips about mergers and other transactions involving Simpson Thacher clients to his friend and law school classmate Frank Tamayo, a Brooklyn...

  • NEW YORK, Sept 12- A federal appeals court on Monday revived a former JPMorgan Chase& Co private banker's whistleblower lawsuit accusing the bank of firing her in retaliation for warning that an Israeli client might be committing fraud. The 2nd U.S. Circuit Court of Appeals in New York found enough evidence to suggest that former JPMorgan employee Jennifer...

  • Sept 8- The insurance brokerage Willis Towers Watson Plc has agreed to pay $120 million to settle litigation accusing it of helping now-imprisoned Texas financier Allen Stanford run a $7.2 billion Ponzi scheme, court papers show. The papers, in which Willis denied wrongdoing, were filed on Wednesday with the federal court in Dallas. In a lawsuit, investors and a...

  • District Judge Alvin Thompson in New Haven, Connecticut, after pleading guilty to one count of securities fraud in March, prosecutors said. Thompson also ordered Hamilton, 46, of Norwalk, to spend four months in home confinement during a year of supervised release that will follow his prison term and to pay a $131,958 fine, a spokesman for U.S.

  • Executive Edge: Ex-Comverse CEO pleads guilty

    The "Squawk Box" news team discusses some of the morning's most provocative headlines, including former Comverse Technology CEO Kobi Alexander pleading guilty to securities fraud, Wilbur Ross' firm pays the SEC a $2.3 million fine, and Amazon may be planning a "click and collect" grocery service.

  • NEW YORK, Aug 24- The former chief executive officer of Comverse Technology Inc pleaded guilty to securities fraud on Wednesday and was ordered detained a decade after fleeing the United States for Namibia to avoid prosecution. Jacob "Kobi" Alexander, the Woodbury, New York- based software developer's founder, entered the plea in federal court in Brooklyn, after...