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Crime Investment Fraud

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  • NEW YORK, June 12- A California man has agreed to pay $67,000 to settle charges that he traded on illegal inside tips from a hedge fund analyst regarding the impending 2008 takeover of Foundry Networks Inc, U.S. regulators said on Friday. Andrew Miller, 35, is the latest defendant to face either civil or criminal insider trading charges stemming from the $3 billion...

  • Richard Cunniffe, who worked at Chatsworth Securities LLC in Greenwich, Connecticut, secretly pleaded guilty on May 12 in Manhattan federal court to charges including securities fraud, records show. Prosecutors say he has been cooperating since March 12 in an investigation that led to charges last month against Sean Stewart, a former managing director at...

  • Wall Street superstar hits rock bottom Thursday, 11 Jun 2015 | 1:20 PM ET
    Wall Street superstar hits rock bottom

    CNBC's Andrea Day reports on one Wall Street trader who lost almost everything as the lies kept growing.

  • NEW YORK, June 9- Galleon Group hedge fund founder Raj Rajaratnam plans to formally ask a U.S. judge to throw out his 11- year prison sentence and void many of the 14 counts for which he was convicted in his insider trading case. Prosecutors said he made up to $63.8 million in illicit profit from 2003 to 2009 by trading in stocks such as eBay Inc, Goldman Sachs Group Inc...

  • *Criminal, civil charges filed in New Jersey. Attorney Paul Fishman in New Jersey said Steven Fishoff, 58, the president of Featherwood Capital Inc in Westlake Village, California, was charged with four counts of securities fraud and one count of conspiracy. Also charged with securities fraud and conspiracy were Fishoff's brother-in-law Steven Costantin, 54,...

  • U.S. charges four men with insider trading Wednesday, 3 Jun 2015 | 11:16 AM ET

    Attorney Paul Fishman in New Jersey said on Wednesday. Steven Fishoff, the president of Featherwood Capital Inc, was charged with four counts of securities fraud and one count of conspiracy. Co-defendants Ronald Chernin, Steven Costantin and Paul Petrello were also charged with securities fraud and conspiracy counts.

  • NEW YORK, June 2- A federal judge on Tuesday ruled largely in favor of the trustee seeking potentially hundreds of millions of dollars for Bernard Madoff's victims in 233 lawsuits that sought to recoup alleged fictitious profits generated by the Ponzi schemer's firm. Bankruptcy Judge Stuart Bernstein in Manhattan said trustee Irving Picard could try to claw...

  • Madoff trustee largely prevails in 233 lawsuits Tuesday, 2 Jun 2015 | 6:23 PM ET

    NEW YORK, June 2- A federal judge on Tuesday ruled largely in favor of the trustee seeking millions of dollars for Bernard Madoff's victims in 233 lawsuits that sought to recoup alleged fictitious profits generated by the Ponzi schemer's firm. Bankruptcy Judge Stuart Bernstein in Manhattan said the trustee Irving Picard could try to claw back money that...

  • NEW YORK, May 28- A former outside auditor and a former human resources employee of Bernard Madoff's firm avoided prison on Thursday, after cooperating with authorities investigating the now-imprisoned swindler's multibillion-dollar Ponzi scheme. District Judge Laura Taylor Swain in New York to a year of home confinement, and to pay his share of a symbolic...

  • Ex-Madoff auditor sentenced to home confinement Thursday, 28 May 2015 | 1:50 PM ET

    NEW YORK, May 28- The former outside auditor for Bernard Madoff's firm was sentenced on Thursday to a year of home confinement, avoiding prison after cooperating with U.S. authorities investigating Madoff's multibillion-dollar Ponzi scheme. District Judge Laura Taylor Swain in New York also ordered David Friehling to pay his share of a $130 billion joint...

  • How safe is our data? Wednesday, 27 May 2015 | 3:29 PM ET
    How safe is our data?

    Former Homeland Security secretary, Michael Chertoff of The Chertoff Group, discusses managing the risk from dangerous hacks after the recent IRS hack.

  • May 26- A Connecticut venture capital executive accused of insider trading and of cheating his clients out of tens of millions of dollars has fled the country, the U.S. Securities and Exchange Commission said. Iftikar Ahmed, a former general partner at Oak Investment Partners, left the United States some time before May 18 in violation of a judge's order in the...

  • CHICAGO, May 21- A U.S. appeals court on Thursday reversed a $2.46 billion judgment against HSBC Holdings Plc in a long-running securities fraud class action stemming from a consumer finance business it bought more than a decade ago. The 7th U.S. Circuit Court of Appeals in Chicago said HSBC and three former Household International Inc executives were entitled...

  • Yalie charged with defrauding CrossFit investors Thursday, 21 May 2015 | 6:17 PM ET
    Josh Newman in YouTube video for CrossFit NYC

    Authorities arrested Joshua Newman and charged him with defrauding investors out of at least $2 million over a three-year period, NYT reports.

  • Ex-Madoff employee turned cooperator gets home detention Wednesday, 20 May 2015 | 2:30 PM ET

    NEW YORK, May 20- A former employee of Bernard Madoff was sentenced to nine months of home detention but no prison time on Wednesday for falsifying documents and other crimes, in light of his extensive cooperation with U.S. authorities investigating Madoff's multibillion-dollar Ponzi scheme. Eric Lipkin was sentenced by U.S. District Judge Laura Taylor Swain...

  • NEW YORK, May 19- The former controller for convicted fraudster Bernard Madoff's investment firm was sentenced to no prison time on Tuesday, as a U.S. judge praised her "extraordinary" assistance to authorities investigating Madoff's massive Ponzi scheme. District Judge Laura Taylor Swain imposed the sentence on Tuesday in federal court in New York, citing her "...

  • FTC sues phony cancer charities Tuesday, 19 May 2015 | 12:09 PM ET
    FTC sues phony cancer charities

    CNBC's Hampton Pearson reports on a major consumer fraud case revealed by the Federal Trade Commission.

  • Sean Stewart, 34, routinely tipped his father about mergers being worked on at Perella and JPMorgan Chase& Co, where he worked until 2011, according to a complaint filed in Manhattan federal court. The tips enabled Robert Stewart, 60, and a friend to make $1.16 million, the complaint said. Robert Stewart, an accountant and chief financial officer of mobile...

  • Sean Stewart, who previously worked at JPMorgan Chase& Co, tipped Robert Stewart, his father, about the mergers, enabling him and a friend to make $1.16 million, according to a criminal complaint filed in Manhattan federal court. Robert Stewart, a 60- year-old accountant and chief financial officer of a mobile applications company, was meanwhile arrested in...

  • 5 banks to plead guilt to felony charges Thursday, 14 May 2015 | 11:00 AM ET
    5 banks to plead guilt to felony charges

    Five banks are set to plead guilty to felony charges and pay billions in fines for currency market rigging.