Crime Investment Fraud

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  • NEW YORK— A Texas man who carried out what authorities said was the first federal bitcoin securities fraud to be prosecuted was sentenced on Thursday to 18 months in prison. Trendon Shavers, 33, was sentenced in Manhattan federal court by Judge Lewis A. Kaplan, who said Shavers committed a serious crime but had earned leniency through the honest work he's done...

  • Jason Galanis, 46, of Los Angeles, admitted to securities fraud, investment adviser fraud, and two conspiracy charges at a hearing before U.S. The case is one of two pending against Jason Galanis, who was nicknamed "Porn's New King" by Forbes magazine in 2004 after buying the nation's largest processor of credit card payments for internet pornography.

  • NEW YORK, July 21- An investment banker once dubbed "Porn's New King" and accused of engineering a scheme with his father and two brothers to reap illegal profits by manipulating a reinsurer's stock price pleaded guilty to fraud charges on Thursday. Jason Galanis, 46, of Los Angeles, admitted to securities fraud, investment adviser fraud, and two conspiracy...

  • NEW YORK, July 20- A 73- year-old Californian charged with running a scheme with three of his sons to manipulate the stock price of reinsurer Gerova Financial Group Ltd and then dump the shares at inflated prices pleaded guilty to fraud on Wednesday, U.S. prosecutors said. John Galanis, of Oceanside, California, admitted to securities fraud and conspiracy charges...

  • Greek investigators raid home of former UBS boss

    Police took away computers, documents and disks from the home of Christos Sclavounis.

  • NEW YORK, July 18- A former portfolio manager at Visium Asset Management LP pleaded not guilty on Monday to charges that he engaged in a scheme to defraud investors by inflating the value of a bond fund and overstating its liquidity. Stefan Lumiere, 45, entered his plea to conspiracy, securities fraud and wire fraud charges in federal court in Manhattan, about a...

  • NEW YORK, July 15- A former employee at a New York investment firm was sentenced to 6-1/ 2 years in prison on Friday after being convicted of participating in a Ponzi scheme that defrauded about 3,800 investors out of about $150 million. Diane Kaylor, a former broker and bookkeeper at Hauppauge, New York- based Agape World Inc, was sentenced by U.S.

  • NEW YORK, July 15- A former employee at a New York investment firm was sentenced to nine years in prison on Friday after being convicted of participating in a Ponzi scheme that defrauded around 3,800 investors out of about $150 million. Diane Kaylor, a 40- year-old former broker and bookkeeper at Hauppauge, New York- based Agape World Inc, was sentenced by U.S.

  • NEW YORK, July 15- A former employee at a New York investment firm was sentenced to nine years in prison on Wednesday after being convicted of participating in a Ponzi scheme that defrauded around 3,800 investors out of about $150 million. Diane Kaylor, a 40- year-old former broker and bookkeeper at Hauppauge, New York- based Agape World Inc, was sentenced by U.S.

  • WASHINGTON/ NEW YORK, July 15- Herbalife Ltd agreed to pay $200 million and change the way it does business to avoid being labeled a pyramid scheme by regulators, a blow to hedge fund manager Bill Ackman who for years has been betting against the dietary supplements maker. Shares of Herbalife jumped more than 20 percent after the settlement was made public and the...

  • WASHINGTON/ NEW YORK, July 15- Herbalife Ltd agreed to a $200 million settlement with U.S. regulators on Friday, under which the dietary supplements maker will change the way it does business and avoid being labeled a pyramid scheme, a blow to hedge fund manager Bill Ackman who for years has been betting against the company. The Los Angeles- based company's shares...

  • July 15- Herbalife Ltd said it would settle with the U.S. Federal Trade Commission for $200 million to avoid being labeled a pyramid scheme, a blow to hedge fund manager Bill Ackman who for years has been betting against the dietary supplements maker. Ackman's Pershing Square Capital Management unveiled a $1 billion short bet against the company in 2012..

  • FTC determines Herbalife not a pyramid scheme: DJ

    Shares of Herbalife are up in the pre-market on word the FTC is expected to announce a settlement today with Herbalife.

  • July 15- Herbalife Ltd is expected to announce a settlement with the Federal Trade Commission, under which the regulatory body has determined that the weight-loss products maker is not a pyramid scheme, CNBC tweeted, citing Dow Jones. The FTC opened a probe of Herbalife in 2014 following allegations by hedge fund manager William Ackman that it had a fraudulent...

  • NEW YORK, July 14- Martin Shkreli, the former pharmaceutical executive who last year became a lightning rod for criticism of soaring prescription drug prices, is now scheduled to go on trial in June 2017 in the U.S. government's securities fraud case against him. District Judge Kiyo Matsumoto, in Brooklyn, New York, set a June 26, 2017, trial date in the case against...

  • NEW YORK, July 14- Martin Shkreli, the former pharmaceutical executive who became a lightning rod for criticism of soaring prescription drug prices last year, is now scheduled to go on trial in June 2017 in the U.S. government securities fraud case. District Judge Kiyo Matsumoto, in Brooklyn, New York, set a June 26, 2017, trial date in the case against Shkreli and Evan...

  • NEW YORK, July 14- A federal judge on Thursday scheduled a trial for June 2017 in the U.S. government's securities fraud case against former pharmaceutical executive Martin Shkreli, who became a lightning rod last year for criticism of soaring prescription drug prices. District Judge Kiyo Matsumoto, in Brooklyn, New York, set a June 26, 2017, trial date in the case...

  • JUDGE SETS JUNE 26, 2017 TRIAL DATE FOR SECURITIES FRAUD CASE AGAINST EX-PHARMACEUTICAL EXECUTIVE SHKRELI-- HEARING.

  • JUDGE SETS JUNE 25 TRIAL DATE FOR SECURITIES FRAUD CASE AGAIN FORMER PHARMACEUTICAL EXECUTIVE MARTIN SHKRELI--HEARING.

  • NEW YORK, July 13- A former investor in the studio behind the "Twilight" movie franchise was arrested on Wednesday on charges that he participated in fraudulent schemes involving a bankrupt technology company called Kit Digital Inc.. Omar Amanat, an investor in media, finance and technology companies, was charged in an indictment filed in Manhattan federal...