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Crime Investment Fraud

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  • NEW YORK, Aug 10- A man accused by U.S. prosecutors of running a $300 million penny-stock manipulation fraud that drove the market value of little-known Cynk Technology Corp past $6 billion pleaded not guilty on Monday. Gregg Mulholland, also known as "Stamps" and " Charlie Wolf," was arraigned on charges including securities fraud in an indictment recently filed in...

  • Aug 7- A Whole Foods Market Inc shareholder has accused the grocer in a lawsuit of committing securities fraud by concealing its overcharging of New York City customers, leading to bad publicity that hurt sales and drove its share price down. In a complaint filed on Thursday in federal court in Austin, Texas, the plaintiff Yochanan Markman said Whole Foods knew or...

  • Wilmington Trust's former president, Robert Harra, 66, and former chief financial officer, David Gibson, 58, were indicted on charges including securities fraud, conspiracy, making false statements to the Federal Reserve and Securities and Exchange Commission, and making false entries in banking records. All four defendants also face SEC civil charges.

  • NEW YORK, Aug 5- Irwin Lipkin, one of Bernard Madoff's longest-serving employees, was sentenced to six months in prison on Wednesday for falsifying records that helped the imprisoned fraudster carry out his multibillion-dollar Ponzi scheme. District Judge Laura Taylor Swain in Manhattan marked the end of the criminal prosecutions stemming from the fraud,...

  • NEW YORK, Aug 5- Irwin Lipkin, one of Bernard Madoff's longest-serving employees, was sentenced to six months in prison on Wednesday for falsifying records that helped the imprisoned fraudster carry out his multibillion-dollar Ponzi scheme. District Judge Laura Taylor Swain in Manhattan marked the end of the criminal case stemming from the fraud, more than...

  • Frederick Alan Voight, 58, and his firm DayStar Funding LP agreed to pay civil penalties and return alleged illegal gains in sums to be set by a federal judge, the SEC said. The SEC said this included $13.8 million raised since October from at least 260 U.S. investors to fund InterCore's installation of its Driver Alertness Detection System, or DADS, technology in "...

  • WASHINGTON/ NEW YORK, July 30- The U.S. Justice Department asked the Supreme Court on Thursday to reverse a federal appellate court's insider trading ruling, calling it a "roadmap" for potential criminals that undermined efforts to ensure the "integrity of the security markets." Solicitor General Donald Verrilli filed a petition seeking review of a December...

  • NEW YORK, July 29- A former employee of a major Silicon Valley law firm was sentenced to two years in prison on Wednesday for illegally trading ahead of mergers that were underway at the firm. Braverman, an immigrant from Ukraine who lives in San Mateo, California, in court apologized for his conduct while employed in Wilson Sonsini Goodrich& Rosati's information...

  • July 29- A federal judge has dismissed a lawsuit accusing Herbalife Ltd and its chief executive officer of misrepresenting the weight-loss and nutritional products maker's sales practices as legitimate when the company was "at its core" a pyramid scheme. The judge also said that CEO Michael Johnson's reducing his Herbalife stake by a net 12 percent over...

  • NEW YORK, July 22- A federal judge on Wednesday rejected hedge fund manager Doug Whitman's effort to throw out his insider trading conviction, and faulted the Whitman Capital LLC founder's "chutzpah" in suggesting that his conduct was not a crime. District Judge Jed Rakoff in Manhattan turned down Whitman's argument that his August 2012 conviction and two-year...

  • July 21- U.S. and Israeli law enforcement agencies have arrested four people in Israel and Florida related to securities fraud tied to computer hacks of JPMorgan Chase& Co and other financial institutions, Bloomberg reported, citing sources. Israeli police spokesman Micky Rosenfeld said he did not have details of a scam involving JP Morgan but confirmed three...

  • July 21- U.S. and Israeli law enforcement agencies have arrested four people in Israel and Florida related to securities fraud tied to computer hacks of JPMorgan Chase& Co and other financial institutions, Bloomberg reported, citing sources. Israeli police spokesman Micky Rosenfeld said he did not have details of a scam involving JP Morgan but confirmed three...

  • FBI, ISRAEL MAKE SECURITIES FRAUD ARRESTS TIED TO JPMORGAN HACK- BLOOMBERG.

  • NEW YORK, July 17- TD Bank has agreed to pay $20 million to settle a class action lawsuit accusing it of aiding a Ponzi scheme that allegedly bilked over a thousand European investors of more than $223 million, a lawyer for the investors said on Friday. The preliminary settlement, subject to court approval, resolves accusations that TD Bank, part of Canada's...

  • A baffling case in corporate fraud: NYT's Stewart Friday, 17 Jul 2015 | 10:43 AM ET
    A baffling case in corporate fraud: NYT's Stewart

    Jim Stewart, New York Times, discusses the "London Whale" case, where no further action has been taken against Bruno Iksil, whose risky bets on complex derivative contracts ended up costing JPMorgan Chase $6.2 billion in losses.

  • July 16- Bank of Montreal agreed to pay $16 million to end a U.S. lawsuit claiming that a lender it bought caused two bankrupt Florida funds to lose money in imprisoned swindler Thomas Petters' $3.65 billion Ponzi scheme. Bank of Montreal denied liability in agreeing to settle. The lawsuit by the trustee Barry Mukamal stemmed from Petters' relationship with...

  • NEW YORK, July 13- A son-in-law of indicted former New York Assembly Speaker Sheldon Silver pleaded guilty on Monday to operating a Ponzi scheme that defrauded investors out of nearly $6 million over seven years. Marcello Trebitsch, 37, pleaded guilty in Manhattan federal court to securities fraud, three months after authorities first accused him of using...

  • WASHINGTON, July 13- A Brooklyn, New York man, who passed stock trading tips on napkins and Post-it notes at meetings in Grand Central Terminal before swallowing the evidence, has reached a civil settlement with the U.S. Securities and Exchange Commission. The SEC said on Monday Frank Tamayo was unlikely to owe a civil penalty after providing "extensive...

  • July 8- A Las Vegas executive and two associates from Tokyo were indicted by a federal grand jury on Wednesday for running an alleged $1.5 billion Ponzi scheme that bilked thousands of Japanese victims, the U.S. Department of Justice said. The indictment charged Edwin Fujinaga, 68, who once ran MRI International Inc in Las Vegas, with eight counts of mail fraud,...

  • July 6- A U.S. appeals court on Monday upheld the conviction of an Illinois man who prosecutors said made nearly $1.2 million trading on inside information about mergers involving clients of Citigroup Inc, where his brother-in-law worked. The 9th U.S. Circuit Court of Appeals in San Francisco affirmed the conviction of Bassam Salman, who was sentenced in April...