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Crime Investment Fraud

  • NEW YORK, Dec 13- A former elected official of a New York City suburb was sentenced to 2-1/ 2 years in prison on Wednesday following his conviction in what U.S. prosecutors have called the first criminal securities fraud case brought over municipal bonds. Christopher St. Lawrence, who was supervisor of Ramapo, New York, was sentenced by U.S. Lawrence in April 2016...

  • Brett D. Kennedy, of Blaine, pleaded guilty to a federal insider trading charge in September. Prosecutors said his former fraternity brother at the University of Washington, Maziar Rezakhani, used the info to make $116,000 on stock trades and then paid Kennedy $10,000 in cash for the tip. Kennedy gave up the $10,000 in a settlement with the Securities and Exchange...

  • SEATTLE— A Washington state man who bilked investors out of more than $100 million in a Ponzi scheme has escaped from a federal prison in central California, according to the U.S. Prison officials said Frederick Darren Berg, 55, was discovered missing Wednesday from a minimum-security work camp next to a penitentiary in Atwater, California, The Seattle Times...

  • SAO PAULO, Dec 7- Brazilian meatpacker JBS SA said listing a subsidiary in the U.S. remained a priority, even as two controlling shareholders in the company remain in jail for insider trading and their role in a corruption scandal. The long-planned initial public offering of its processed food subsidiary JBS Foods International BV was postponed in October on...

  • JOHANNESBURG, Dec 5- U.S. law firm, Pomerantz LLP, said on Tuesday it has launched an investigation into whether South Africa's Naspers and its directors engaged in securities fraud or other unlawful businesses practices.

  • Nov 28- A federal jury on Tuesday convicted a Connecticut cardiologist of insider trading based on confidential information he learned about a clinical drug trial, prosecutors said on Tuesday. Jurors in Hartford, Connecticut, took roughly four hours to find Edward Kosinski, 70, of Weston, guilty on two counts of securities fraud. Prosecutors said Kosinski sold...

  • Nov 28- A federal jury on Tuesday convicted a Connecticut cardiologist of insider trading based on confidential information he learned about a clinical drug trial, prosecutors said on Tuesday. Jurors in Hartford, Connecticut, took roughly four hours to find Edward Kosinski, 70, of Weston, guilty on two counts of securities fraud. Prosecutors said Kosinski sold...

  • Richard Cordray, Consumer Financial Protection Bureau

    Advocates worry that customers won't have a watchdog on their side now that Cordray is leaving.

  • When you invest, you must take on some risk, against which no law or regulation can provide protection.

    Simply losing money on investments doesn't mean you can sue but if you have been the victim of true fraud, there are steps you can take.

  • Nov 9- A Florida lawyer accused by U.S. prosecutors of engaging in a nearly $1 million insider trading scheme using information he improperly obtained from his law firms databases pleaded guilty on Thursday, prosecutors said. District Judge Katherine Polk Failla in Manhattan, according to James Margolin, a spokesman for acting U.S. Little was charged with...

  • NEW YORK, Nov 7- A Virginia man accused by U.S. prosecutors of driving up the price of Fitbit Inc stock by orchestrating a hoax takeover bid, making about $3,000 in profit, pleaded guilty to securities fraud on Tuesday. Murray, 24, was arrested in May and charged with submitting a sham regulatory filing in which the nonexistent, Shanghai- based ABM Capital Ltd offered...

  • BOSTON, Nov 2- A former Puma Biotechnology Inc executive pleaded guilty on Thursday to U.S. charges that he traded on inside information ahead of announcements by the biopharmaceutical company about a drug it was developing to treat breast cancer. Robert Gadimian, the Los Angeles- based company's former senior director of regulatory affairs, pleaded guilty in...

  • In a proposed class-action lawsuit filed Wednesday night in the U.S. District Court in Manhattan, Jihad Hachem accused GE of securities fraud for concealing how falling demand, excess inventory and higher costs would cause it fall far short of its 2017 profit forecast, and led to an inflated stock price. GE's market value slid $11 billion in the two trading days...

  • NEW YORK, Oct 31- A former Bank of America Merrill Lynch broker has agreed to plead guilty to a criminal charge of securities fraud for billing clients excessive commissions, according to federal court documents unsealed on Tuesday. Tom Buck, once a top Merrill Lynch financial adviser in Indiana, could face up to 25 years in prison if convicted.

  • NEW YORK, Oct 30- A research scientist at Massachusetts Institute of Technology pleaded guilty on Monday to charges that he engaged in insider trading based on information he obtained from his wife, a corporate lawyer working on a deal involving a mining company. Federal prosecutors accused him of purchasing options to buy stock of Stillwater Mining, based on...

  • MEXICO CITY, Oct 24- Mexico's financial regulator has fined board members at Mexican chemicals maker Mexichem and airline Aeromexico among others for insider trading, according to government data, in a rare move against powerful business interests. The individuals were fined under a clause in Mexico's Securities Market Law that prohibits people from...

  • Frankfurt prosecutor continues insider trading probe. FRANKFURT, Oct 24- Deutsche Boerse's supervisory board will meet on Thursday to discuss the future of Carsten Kengeter after a court setback for the CEO in an insider trading inquiry, a source close to the situation said. A settlement deal that would have ended the probe was blocked by a court on Monday,...

  • NEW YORK, Oct 19- Thomas Davis, a former chairman of dairy processing company Dean Foods Co, was sentenced on Thursday to two years in prison after pleading guilty to passing insider information to sports gambler William "Billy" Walters. District Judge Kevin Castel in Manhattan, who also ordered him to pay about $8 million in restitution, according to Nicholas...

  • The New Nigerian Scam

    West Africa has become a hot bed for con artists finding new ways to steal your money to the tune of $2 billion. Andrea Day reports.

  • Oct 17- The U.S. Supreme Court on Tuesday canceled arguments in a securities fraud dispute involving Virginia- based government contractor Leidos Inc after the company and investors told the court they had reached a settlement. The suit, led by the Indiana Public Retirement System, alleged that the company omitted and misstated key information in securities...