Crime Investment Fraud

  • Dec 6- The U.S. Supreme Court, ruling in an insider trading case for the first time in two decades, on Tuesday upheld a Chicago man's conviction in a decision that could make it easier to prosecute people accused of profiting from confidential information. The justices, in an 8-0 decision, ruled against Bassam Salman, who was appealing a 2013 conviction stemming...

  • Dec 6- The U.S. Supreme Court, ruling in an insider trading case for the first time in two decades, on Tuesday upheld a Chicago man's conviction in a decision that could make it easier to prosecute people accused of profiting from confidential information. The justices, in an 8-0 decision, ruled against Bassam Salman, who was appealing a 2013 conviction stemming...

  • Dec 6- The U.S. Supreme Court, ruling in an insider trading case for the first time in two decades, on Tuesday upheld a Chicago man's conviction in a decision that could make it easier to prosecute people accused of profiting from confidential information.

  • Jonathan Ly, 28, entered his plea in federal court in Seattle to one count of securities fraud stemming from an insider trading scheme that prosecutors said netted the San Francisco resident $331,000. He also reached a $375,907 settlement with the U.S. Securities and Exchange Commission. Ly is deeply sorry for the activity he engaged in and the people and...

  • Jonathan Ly, 28, entered his plea in federal court in Seattle to one count of securities fraud stemming from an insider trading scheme that prosecutors said netted the San Francisco resident $331,000. As part of a plea deal, Ly agreed to repay Expedia the $81,592 it spent investigating the computer intrusion. He also reached a $375,907 settlement with the U.S....

  • Irfan Amanat, 45, was charged in a complaint filed in Manhattan federal court with conspiracy, securities fraud and wire fraud stemming from a scam prosecutors said he engaged in with his brother. Irfan Amanat, who a decade ago was the subject of a U.S. Securities and Exchange Commission case related to his time as chief technology officer of Tradescape Corp, was...

  • NEW YORK, Nov 30- Billionaire Steven A. Cohen's former hedge fund SAC Capital Advisors LP will pay $135 million to settle a lawsuit by investors in the drugmaker Elan Corp, who said they lost money because of insider trading by one of his portfolio managers. The preliminary class-action settlement with SAC, now known as Point72 Asset Management LP, was filed on...

  • NEW YORK, Nov 30- Billionaire Steven A. Cohen's former hedge fund SAC Capital Advisors LP will pay $135 million to settle a lawsuit by investors in Elan Corp, who said they lost money on the drugmaker due to insider trading by one of his portfolio managers. It resolves class-action claims over an estimated $275 million of illegal gains that Mathew Martoma, who...

  • NEW YORK, Nov 30- Billionaire Steven A. Cohen's former hedge fund SAC Capital Advisors LP has agreed to pay $135 million to resolve a lawsuit by shareholders of Elan Corp, who claimed they lost money because it engaged in insider trading in the drugmaker's stock.

  • NEW YORK, Nov 30- U.S. President-elect Donald Trump will meet on Wednesday with Preet Bharara, the top federal prosecutor in Manhattan known for pursuing a series of high-profile cases targeting insider trading and public corruption. A spokeswoman for Bharara, who was appointed to his position by Democratic President Barack Obama in 2009, confirmed he would...

  • NEW YORK, Nov 30- U.S. President-elect Donald Trump will meet on Wednesday with Preet Bharara, the top federal prosecutor in Manhattan known for pursuing a series of high-profile cases targeting insider trading and public corruption. A spokeswoman for Bharara, who was appointed to his position by Democratic President Barack Obama in 2009, confirmed he would...

  • NEW YORK, Nov 30- U.S. President-elect Donald Trump will meet on Wednesday with Preet Bharara, the top federal prosecutor in Manhattan known for pursuing a series of high-profile cases targeting insider trading and public corruption. A spokeswoman for Bharara, who was appointed to his position by Democratic President Barack Obama in 2009, confirmed he would...

  • WASHINGTON, Nov 28- The U.S. Supreme Court on Monday rejected Texas financier Robert Allen Stanford's bid to overturn his conviction and 110- year prison sentence for running what prosecutors called a $7.2 billion Ponzi scheme that bilked investors in 113 countries. The justices left in place the imprisoned Stanford's appeal of an October 2015 ruling by the...

  • The 1st U.S. Circuit Court of Appeals in Boston said a lower court judge erred in dismissing federal and Massachusetts state securities fraud claims against the second-largest U.S. bank. The $330 billion auction-rate market seized up in February 2008 when dealers stopped supporting it, saddling investors with illiquid debt that had often been marketed as a...

  • NEW YORK, Nov 17- A former president of now-bankrupt Kit Digital Inc has pleaded guilty to fraud, and is cooperating with a U.S. probe into what prosecutors have called a scheme to deceive investors about the video technology company's health, court papers show. Gavin Campion, an Australian and UK national who lives in Australia, admitted to securities fraud and...

  • NEW YORK, Nov 16- A U.S. appeals court on Wednesday signaled it was unlikely to overturn the 2012 insider trading conviction of Rajat Gupta, a former director of Goldman Sachs Group Inc and global managing director of McKinsey& Co.. During arguments before the 2nd U.S. Circuit Court of Appeals in New York, a lawyer for Gupta argued that jurors were given improper...

  • Navinder Singh Sarao, a British trader charged over his role in the 2010 U.S. flash crash, leaves Westminster Magistrates' Court after losing a bid to delay extradition proceedings in London, U.K., on Friday, Aug. 28, 2015. Sarao asked a London judge for more time to prepare an expert report on trading, but the judge rejected the request, saying the issue was irrelevant to the question of extradition.

    A London-based trader on Wednesday became the second person convicted of criminally spoofing U.S. futures markets, after he pleaded guilty to federal charges.

  • CHICAGO, Nov 9- A London- based trader on Wednesday became the second person convicted of criminally spoofing U.S. futures markets, after he pleaded guilty to federal charges that he contributed to Wall Street's 2010 "flash crash" by using the manipulative trading practice. Navinder Sarao, 37, who traded on the Chicago Mercantile Exchange from his parents' home...

  • STOCKHOLM, Nov 7- Ola Rollen, chief executive of Swedish technology firm Hexagon, denied wrongdoing on Monday and said his conscience was clear after spending more than a week in custody over Norwegian insider trading allegations. Rollen, who turned Hexagon from a sprawling conglomerate into one of Sweden's most valuable companies, was detained on Oct. 26 and...

  • NEW YORK, Nov 4- Former Wall Street executive Andrew Caspersen was sentenced on Friday to four years in prison for engaging in what prosecutors say was a Ponzi-like scheme to defraud investors including family members and friends out of $38.5 million. Prosecutors sought up to 15-2/ 3 years in prison for the Princeton University and Harvard Law School graduate,...