Crime Investment Fraud

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  • NEW YORK, Feb 17- Victims of Bernard Madoff's fraud cannot pursue a Florida lawsuit to recover $11 billion from the estate of Jeffry Picower, who they say helped perpetuate the swindler's Ponzi scheme, a Manhattan bankruptcy judge ruled on Wednesday. Bankruptcy Judge Stuart Bernstein said the lawsuit by A&G Goldman Partnership and Pamela Goldman, their third...

  • NEW YORK, Feb 17- Victims of Bernard Madoff's fraud cannot pursue a Florida lawsuit to recover $11 billion from the estate of Jeffry Picower, who they say helped perpetuate the swindler's Ponzi scheme, a Manhattan bankruptcy judge ruled on Wednesday. Bankruptcy Judge Stuart Bernstein said the lawsuit by A&G Goldman Partnership and Pamela Goldman, their third...

  • Untangling complex tax laws: William Cobb

    William Cobb, President & CEO at H&R Block, shares his thoughts on the 2016 tax season and ways to simplify the tax code. Also Cobb weighs in on what his company is doing to fight tax fraud.

  • Jury selection is scheduled for Tuesday in Manhattan federal court in the U.S. Securities and Exchange Commission's case against ex- Euro Pacific Capital Inc traders Daryl Payton and Benjamin Durant. But the SEC continued to press civil charges, arguing it had enough evidence to establish liability even after the ruling. The trial comes amid litigation over...

  • Herbert Sudfeld, 64, was convicted on charges of securities fraud and making a false statement by a federal jury in Philadelphia following a four-day trial, prosecutors said. The Doylestown, Pennsylvania- resident faces a maximum sentence of 25 years in prison, according to the U.S. Attorney's Office in Philadelphia. Sudfeld was indicted in July on charges that...

  • Dennis Hamilton, a former vice president of tax at Harman, was charged in a criminal complaint filed in New Haven, Connecticut, with securities fraud in connection with trades in the company's stock that prosecutors said netted him over $130,000. The U.S. Securities and Exchange Commission brought a related civil action over the non-public information that...

  • Dennis Hamilton, a vice president of tax at Harman, was charged in a criminal complaint filed in New Haven, Connecticut, with securities fraud in connection with trades in the company's stock that prosecutors said netted him over $130,000. The U.S. Securities and Exchange Commission filed a related civil lawsuit over the non-public information that the agency...

  • NEW YORK, Feb 4- Rajat Gupta, a former director of Goldman Sachs Group Inc and global managing director of McKinsey& Co, has persuaded a federal appeals court to take a fresh look at overturning his 2012 insider trading conviction. In an order on Thursday, the 2nd U.S. Circuit Court of Appeals in New York said it will review Gupta's conviction for having passed tips to...

  • NEW YORK, Feb 3- Retrophin Inc has agreed to pay $3 million to resolve a lawsuit by investors accusing the pharmaceutical company of failing to disclose transactions that benefited former Chief Executive Officer Martin Shkreli, who has since been indicted for securities fraud. The $3 million settlement equals 7 percent to 10 percent of the $26 million to $41...

  • Afghan security personnel keep watch at the site of a suicide bombing at the home of a prominent politician in Jalalabad on Jan. 17, 2016.

    Embezzlement in Afghanistan is making U.S. reconstruction efforts nearly impossible. But experts say the U.S. can’t back out now.

  • NEW YORK, Feb 3- Former pharmaceutical executive Martin Shkreli suffered a roughly $40 million drop in the value of a trading account used to secure his bail following his arrest on securities fraud charges, a U.S. prosecutor said on Wednesday. That caused the value of Shkreli's E* Trade brokerage account to drop to $4 million to $5 million, from the $45 million...

  • NEW YORK, Feb 3- Retrophin Inc has agreed to pay $3 million to resolve a lawsuit by investors accusing the pharmaceutical company of failing to disclose various transactions that benefited former Chief Executive Officer Martin Shkreli, who has since been indicted for securities fraud. The $3 million settlement equals 7 percent to 10 percent of the $26 million...

  • NEW YORK, Feb 3- Retrophin Inc has agreed to pay $3 million to resolve a lawsuit by investors accusing the pharmaceutical company of failing to disclose various transactions that benefited former Chief Executive Officer Martin Shkreli, who has since been indicted for securities fraud. The $3 million settlement equals 7 percent to 10 percent of the $26 million...

  • Jan 28- A Boston- area real estate developer was found guilty on Thursday of engaging in insider trading based on a tip about a merger a bank executive passed him on cocktail napkin over drinks at a country club. Robert Bray, 78, was convicted by a federal jury in Boston on one count of securities fraud for illegally trading on a tip in 2010 that Eastern Bank Corp would...

  • NEW YORK, Jan 27- Days before Martin Shkreli's arrest for securities fraud, U.S. prosecutors obtained a secret court order ruling that communications between the former pharmaceutical executive and a corporate lawyer also under investigation were not protected by attorney-client privilege. Shkreli, who until recently was Turing Pharmaceuticals' chief...

  • NEW YORK, Jan 25- U.S. securities regulators said on Monday they would not oppose making a rare settlement refund of $21.5 million to hedge fund Level Global Investors LP after a federal appeals court's ruling that made pursuing insider trading cases tougher. The U.S. Securities and Exchange Commission's position was laid out in a letter filed in federal court...

  • Jan 25- A U.S. federal appeals court on Monday overturned the convictions of the former chief executive officer and chief financial officer of surgical device maker ArthroCare Corp for engineering what federal prosecutors called a $750 million securities fraud. The 5th U.S. Circuit Court of Appeals in New Orleans agreed with former CEO Michael Baker and...

  • NEW YORK, Jan 25- A federal judge on Monday gave Martin Shkreli, a former pharmaceuticals executive facing securities fraud charges, permission to appear at a Congressional hearing on drug pricing. District Judge Kiyo Matsumoto in Brooklyn, New York modified Shkreli's bail conditions so that he may appear by subpoena before the House Committee on Oversight...

  • Jan 20- A trader from an Atlanta suburb admitted to involvement in what U.S. authorities have called a more than $100 million international insider trading scheme that involved hacking into networks that distribute corporate news releases. Attorney Paul Fishman in New Jersey. Another trader from Alpharetta, Alexander Garkusha, pleaded guilty last month in...

  • Sean Stewart, who also worked at JPMorgan Chase& Co, had argued that a major appellate decision in 2014 that limited the ability of prosecutors to pursue insider trading had made the law so uncertain as to be unconstitutional. District Judge Laura Taylor Swain in Manhattan said the statute under which Stewart was charged had withstood constitutional...