Displaying 160 results
‘Madoff of the Midwest’ gets nine years in prison
A Missouri woman was sentenced Thursday to nine years in federal prison for a grain fraud scheme that bilked 179 farmers out of a combined $27.4 million and earned her the nickname the "Madoff of the Midwest."
Investment adviser used funds for personal chef, prosecutors claim
Donald Anthony Young also diverted clients' cash into a horse farm, authorities say
CFTC claims trader skinned investors in forex fraud
Authorities say Patrick Rakotonanahary's currency trading business was actually a classic Ponzi scheme
CFP Board strips credentials from admitted Ponzi-schemer
The Certified Financial Planner Board of Standards Inc on Friday placed Oren Eugene Sullivan Jr. under interim suspension, keeping the ex-broker from using its credentials.
N.Y. rabbi accused of blackmailing Conn. hedge fund
A prominent Brooklyn rabbi was arrested Thursday in a scheme to extort a Connecticut-based hedge fund into paying millions of dollars to two schools, federal prosecutors said.
Financial adviser admits to embezzling $4.3M from clients
A former financial adviser from Plymouth, Mass., has pleaded guilty in federal court to embezzling $4.3 million from his clients and using the money for personal expenses, including to make mortgage payments and pay his daughter's college tuition.
Officials charge ex-LPL Financial broker with fraud
A Kalispell man accused of bilking investors out of $1.5 million is charged with felony embezzlement and four counts of securities fraud.
Man gets 99-year prison term for securities fraud
A North Texas jury has sentenced a former Maryland lawyer to 99 years in prison for organizing a fraudulent multistate investment scheme.
Chicago money management exec pleads guilty to $24M fraud
The former head of a Chicago asset management company pleaded guilty Wednesday to fleecing six union pension funds of $24 million and spending much of the money on jewelry, gambling and renovation of his strip club.
MassMutual sues alleged Ponzi schemer over life insurance
Massachusetts Mutual Life Insurance Co. has taken alleged Ponzi schemer Scott Rothstein to court in an attempt to rescind a $15 million life insurance policy.
Envision CEO accused of bilking investors
An Omaha investment adviser has been indicted on federal charges accusing him of defrauding investors of more than $500,000, federal prosecutors said Friday.
N.Y. investment firm boss accused of skinning investors
The president of an Albany investment firm is accused of selling fraudulent securities to investors across the country.
Ponzi scheme suspect arrested in casino
A judge in Mississippi has ordered a Massachusetts man returned to Boston where he will face federal charges alleging he ran a $28 million Ponzi scheme.
Accused scammer won’t give up Faberge eggs or submarine — and lands in jail
A federal judge in Minnesota today ordered Trevor G. Cook jailed for failing to surrender more than $35 million in assets.
Alberto Vilar sentenced in NYC to 9 years in jail
Opera-loving philanthropist Alberto Vilar was sentenced Friday to nine years in prison by a judge who credited his giving spirit but said he wanted to send a message to money managers that fraud will not be tolerated because it can damage confidence in the economy.
Florida insurance seller nabbed in police sting, say local officials
Florida authorities have locked up Richard M. Incandela, on charges of selling insurance without a license and organized fraud exceeding $50,000, according to published reports.
‘Octopussy’ and six others plead not guilty in N.Y. insider trading case
A man regulators call "the Octopussy" and six other white-collar defendants have pleaded not guilty to securities fraud in a Wall Street insider trading case.
Alleged scam artist jailed
A federal judge in Minnesota last week ordered Trevor G. Cook jailed for failing to surrender more than $35 million in assets.
N.J. man gets 18 years for real estate Ponzi scheme
A New Jersey man has been sentenced to 18 years in prison and ordered to pay more than $100 million in restitution for masterminding what a judge described as one of the biggest real estate frauds in state history.
Two Mass. brokers face complaint over alleged Ponzi scheme
Massachusetts regulators allege two Newton financial advisers and their company connected to a Framingham man's alleged Ponzi scheme have been operating as unregistered brokers.
