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Crime Investment Fraud

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  • May 5- The U.S. Securities and Exchange Commission on Tuesday sued three defendants it accused of running a fraud and Ponzi scheme in which they raised more than $62 million from investors eager to benefit from growth in the North Dakota oil industry. According to the SEC, North Dakota Developments LLC and its owners, Robert Gavin and Daniel Hogan, illegally...

  • Los Angeles sues Wells Fargo Tuesday, 5 May 2015 | 4:37 PM ET
    Los Angeles sues Wells Fargo

    The city of Los Angeles is suing Wells Fargo for what it deems "unlawful and fraudulent conduct." Shark tank investor Kevin O'Leary and the Closing Bell team, weigh in.

  • Three men in UK court on insider dealing charges Wednesday, 29 Apr 2015 | 8:31 AM ET

    LONDON, April 29- Three men appeared in a London court on Wednesday charged with using inside information to trade in technology company Logica shares during its Canadian takeover in 2012, the Financial Conduct Authority said. Manjeet Singh Mohal, 58, appeared before Westminster Magistrates' Court charged with two counts of insider trading and Reshim Birk,...

  • NEW YORK, April 28- A federal judge dismissed claims by former Elan Corp and Wyeth shareholders accusing billionaire investor Steven A. Cohen's SAC Capital Advisors LP of violating federal racketeering law by conducting insider trading in the drugmakers' stocks. District Judge Victor Marrero in Manhattan said the civil claims brought under the Racketeer...

  • When financial fraudsters go to prison Monday, 27 Apr 2015 | 7:25 AM ET
    When financial fraudsters go to prison

    "Squawk Box's" Andrew Ross Sorkin provides a preview of his new CNBC documentary on what it's like for white collar criminals on the inside.

  • Accused 'Flash Crash' trader granted $7.6 million bail Wednesday, 22 Apr 2015 | 10:27 AM ET
    Accused 'Flash Crash' trader granted $7.6 million bail

    Accused UK flash crash trader Navinder Singh Sarao has been granted a strict, conditional $7.6 million bail, reports CNBC's Wilfred Frost.

  • 'Flash crash' suspect to appear in UK court Wednesday, 22 Apr 2015 | 6:07 AM ET
    'Flash crash' suspect to appear in UK court

    CNBC's Wilfred Frost reports the high-frequency trader accused of contributing to the 2010 "flash crash" is expected to appear in a London court today for an extradition hearing.

  • NEW YORK, April 21- Two former employees of a New York investment firm were found guilty on Tuesday of helping to run a Ponzi scheme that bilked around 3,800 investors of out of about $147 million, authorities said. Diane Kaylor and Jason Keryc, former employees of Long Island- based Agape World Inc, were convicted by a federal jury in Central Islip, New York, of charges...

  • Flash crash bust Tuesday, 21 Apr 2015 | 5:26 PM ET
    Flash crash bust

    A UK trader was arrested in connection with the "flash crash," reports CNBC's Kate Kelly.

  • Trader charged with fraud related to 'flash crash' Tuesday, 21 Apr 2015 | 1:36 PM ET
    Trader charged with fraud related to 'flash crash'

    A futures trader was arrested in the UK for alleged manipulation tied to the 2010 flash crash. CNBC's Kate Kelly and Brian Sullivan discuss.

  • Trader alleged to have manipulated market Tuesday, 21 Apr 2015 | 1:09 PM ET
    Trader alleged to have manipulated market

    CNBC's Bob Pisani, Sue Herera and Brian Sullivan, weigh in on the arrest of a trader charged with fraud related to the "flash crash."

  • WASHINGTON, April 20- The U.S. Supreme Court on Monday left intact the 2012 insider trading conviction of former Goldman Sachs Group Inc director Rajat Gupta. The court rejected Gupta's appeal of a March 2014 ruling by the New York- based 2nd U.S. Circuit Court of Appeals that had upheld the conviction. The U.S. government used wiretap evidence to show that Gupta...

  • SUPREME COURT REJECTS FORMER GOLDMAN DIRECTOR RAJAT GUPTA APPEAL IN INSIDER TRADING CASE, LEAVING CONVICTION INTACT.

  • NEW YORK, April 15- The trustee recouping money for victims of Bernard Madoff's Ponzi scheme on Wednesday sought court approval to release $1.25 billion from legal reserves, potentially boosting the total payout to $8.22 billion. Irving Picard, the trustee, said the request was made possible after a federal appeals court in New York ruled on Feb. 20 that victims...

  • NEW YORK, April 13- Billionaire investor William Ackman, who has long accused Herbalife Ltd of being a fraud, said on Monday that the top executives at the nutrition and supplements company are hiring their own lawyers as government investigations pick up pace. Ackman's $20 billion Pershing Square Capital Management made a $1 billion short bet against...

  • PARIS, April 8- French prosecutors said on Wednesday they were dropping an inquiry into alleged insider trading by several executives at French bank BNP Paribas after finding no signs of wrongdoing. At the time the bank was the target of a U.S. sanctions violations probe that eventually led to BNP Paribas getting hit with a fine of almost $9 billion.

  • SEC says ex-NY Giants player ran $31M Ponzi scheme Tuesday, 7 Apr 2015 | 3:33 PM ET
    New York Giants’ cornerback Will Allen defends during a game against the Cleveland Browns in East Rutherford, N.J., Sept. 26, 2004.

    The SEC announced fraud charges against former NFL player Will Allen and a business partner, accusing them of operating a $31 million Ponzi scheme.

  • Prosecutors foiled over Newman, Chiasson case Friday, 3 Apr 2015 | 12:50 PM ET
    Anthony Chiasson, co-founder of Level Global Investors LP, exits federal court following a sentencing hearing in New York, May 13, 2013.

    A U.S. appeals court on Friday rejected a request by federal prosecutors that would have allowed pursuance of big insider trading cases.

  • *Iftikar Ahmed, Amit Kanodia face criminal, SEC charges. April 2- U.S. authorities have filed criminal and civil insider trading charges against two friends, including a Connecticut venture capital executive, accused of profiting illegally from India- based Apollo Tyres Ltd's attempt to buy Cooper Tire& Rubber Co in 2013.. Iftikar Ahmed, a general partner of Oak...

  • *Iftikar Ahmed, Amit Kanodia face criminal, SEC charges. April 2- U.S. authorities have filed criminal and civil insider trading charges against two friends, including a Connecticut venture capital executive, accused of profiting illegally from India- based Apollo Tyres Ltd's attempt to buy Cooper Tire& Rubber Co in 2013.. Iftikar Ahmed, a general partner of Oak...