Displaying 160 results
Galvin claims software developer defrauded investors in trading scheme
Bruce S. Horowitz charged big upfront fees but never invested any of his clients' money, the Massachusetts regulator claims.
Rothstein gets 50 years in prison for $1.2B ponzi
Former South Florida lawyer Scott Rothstein was sentenced to 50 years in prison for using his law firm to run a $1.2 billion Ponzi scheme that financed a lavish lifestyle, bankrolled his firm and bought political influence.
Scott Rothstein cops to operating $1.2B Ponzi scheme
A disbarred attorney who courted politicians and star athletes and led a flamboyant lifestyle even by flashy South Florida standards pleaded guilty Wednesday to federal charges that he ran a $1.2 billion Ponzi scheme.
Brooklyn money manager gets 20 years for Ponzi scheme
The longest-running Ponzi scheme ever? Philip Barry, a money manager from Brooklyn, was sentenced to 20 years in prison for running a $45 million Ponzi scheme that defrauded hundreds of investors over three decades.
Madoff victims fuming over trustee’s $35M legal bill
A group of “several hundred” former customers of con man Bernard Madoff objected to a request for $34.6 million in legal fees by Irving Picard, the trustee overseeing the Madoff bankruptcy, and his law firm.
Insurance agent charged with scamming seniors in alleged STOLI scheme
Florida authorities claim Steven M. Brasner falsified information on elderly clients' life insurance applications to sell the applications on the secondary market
Fund manager admits to adviser fraud, Ponzi scheme
Francisco Illarramendi, a hedge fund manager in Connecticut, pleaded guilty to fraud and two other men were charged with conspiracy in a U.S. probe of an alleged Ponzi scheme with potential investor and creditor losses of hundreds of millions of dollars, prosecutors said.
Ex-UBS adviser tricked clients, spent their money on prostitutes: SEC
Commission claims Kobayashi lived it up on client's life settlement investments
Gryphon boss cops to running sham investment firm
Kenneth Marsh pleads guilty to fraud; supposed global operation actually run out of strip mall in Staten Island, prosecutors say
Texan indicted in alleged $17M investment scam
A Houston man already facing federal charges in Virginia for his role in an alleged life insurance scam has been indicted by a federal grand jury in Texas.
Embattled Life Partners sued by shareholders
Claim life settlement provider harmed investors by using flawed actuarial statistics
Advisers tackle tough clients in NFL players
There are just 450 advisers 'approved' to work with NFL players, fighting it out over 1,800 athletes in the league. But now, Dana Hammonds, director of financial programs and adviser administration for the NFLPA, said the players' union will craft new rules that advisers must meet to get on that carefully vetted list.
‘Operation broken trust’: Feds hit hundreds with $8.3B in fraud charges
A nationwide law enforcement crackdown targeting financial fraud has led to cases against 343 criminal defendants involving $8.3 billion in estimated losses, Attorney General Eric Holder announced Monday.
Ex-UBS commodities exec arrested in fraud scheme
A former co-head of UBS AG's municipal derivatives group faces a fraud charge tied to a $100,000 kickback for steering an investment agreement with a U.S. state to another bank.
Convicted Ponzi scammer wants OK to sue his attorney
An Omaha businessman convicted of bilking elderly investors out of millions of dollars wants the Nebraska Supreme Court to reinstate his lawsuit against his business attorney.
N.Y. broker who ran $66M Ponzi gets probation
A New York man received five years' probation for defrauding his customers of more than $66 million they thought was invested in the foreign-exchange market and instead was spent on art and an Aston Martin car.
New Jersey broker charged in $8M Ponzi scam
A New Jersey woman was charged today with raising $8 million through a Ponzi scheme that defrauded investors in her purported wholesale merchandise business.
Prosecutor: ‘Con man’ ran Ponzi scheme for three decades
A New York money manager ran a 30-year Ponzi scheme that defrauded hundreds of investors, a federal prosecutor told jurors at the start of his securities-fraud trial.
Three advisers who ‘never harmed anybody’ sentenced to decades in jail
'3 Hebrew Boys' defiant to the end, claim they were doing God's work; 'were they called to buy a Gulfstream jet?'
Lawyer: ‘Three Hebrew Boys’ don’t deserve stiff sentences
Says Wall Street fraudsters have been shown leniency; trio swindled $17M out of investors, including soldiers in Iraq
