Crime Investment Fraud

  • NEW YORK, Aug 4- A former Wall Street investment banker proclaimed on Thursday that he was innocent of insider trading charges, testifying that he never tipped his father off to inside information about healthcare mergers. Sean Stewart, who worked at Perella Weinberg Partners and JPMorgan Chase& Co, took the stand in his own defense, telling jurors in federal...

  • WASHINGTON, Aug 4- The U.S. Securities and Exchange Commission on Thursday charged a cardiologist with insider trading on confidential developments as he worked on a clinical drug trial. The SEC alleged that Dr. Edward Kosinski of Weston, Connecticut, traded in advance of two negative news announcements by Regado Biosciences, which was pursuing a drug called...

  • Sean Stewart, an ex-banker at Perella Weinberg Partners and JPMorgan Chase& Co, took the stand in his own defense and told jurors in federal court in Manhattan that he had a great relationship with his father but never intended to help him profit through insider trading. Prosecutors say Robert Stewart and a friend made $1.16 million trading on tips about five...

  • NEW YORK, Aug 2- A Georgia man pleaded guilty on Tuesday to trading on inside information that authorities say was obtained by hackers through a worldwide scheme to steal information from services that distribute corporate news releases. Leonid Momotok, 48, pleaded guilty in federal court in Brooklyn to one count of conspiracy to commit wire fraud, for his role...

  • WASHINGTON, July 28- The U.S. Securities and Exchange Commission said on Thursday it had frozen the assets of the operator of a Utah- based Ponzi scheme that raised more than $207 million from investors worldwide, mainly in the United States, India and Russia. In a complaint filed in federal court in Salt Lake City on Tuesday, the SEC alleged that Traffic Monsoon LLC...

  • Sources say the Federal Reserve is preparing an enforcement action against Goldman Sachs, reports the New York Times.

  • NEW YORK, July 24- Federal prosecutors in Manhattan are set to face off with a former Wall Street investment banker in their first insider trading trial since a U.S. appeals court curtailed their ability to pursue such cases. Jury selection is expected to begin on Monday in the case of Sean Stewart, an ex-banker at Perella Weinberg Partners and JPMorgan Chase& Co...

  • District Judge Cynthia Rufe in Philadelphia after a federal jury in February found him guilty on charges of securities fraud and making a false statement. He was also ordered to pay $77,000 in restitution, which his lawyer, Robert Welsh, said will be considered satisfied once Sudfeld pays $91,747 plus interest to the U.S. Securities and Exchange Commission in a...

  • Trendon Shavers, who operated Bitcoin Savings and Trust, was also ordered by U.S. Shavers, a Prosper, Texas, resident who went by "pirateat40" online, was arrested in November 2014, two months after a federal judge in Texas ordered him to pay $40.7 million in a related U.S. Securities and Exchange Commission civil lawsuit. Prosecutors said from 2011 to 2012, Shavers,...

  • 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..