Fraud

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  1. Articles

    Former Stratton Oakmont broker charged with fraud

    SEC says Anthony Coronati used phony tech investments to fund a Caribbean vacation and plastic surgery.

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    SEC hits record enforcement actions in fiscal 2014

    Mary Jo White credits aggressive enforcement and technology, but some question her regulatory zeal.

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    Ex-Ameriprise adviser pleads guilty to stealing nearly $1 million

    Susan Walker admitted to accusations she used $980,000 of client assets to pay for personal expenses, including vacations and private school tuition.

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    Altered docs land former Wells compliance officer in hot water

    Judy Wolf, formerly with Wells Fargo, allegedly attempted to make it appear she adequately reviewed a broker later charged with insider trading. Plus, see 5 compliance lessons from recent SEC cases

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    Ex-Ameriprise adviser gets jail time for using client money to pay gambling debts

    Oscar Donald Overbey, Jr., was sentenced to 3-1/2 years in federal prison and must repay more than $3 million in restitution from Ponzi.

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    Wall Street moles go to New York's top cop, spurning SEC cash

    Whistle-blowers might rake in more by dealing with the feds, but they're frustrated by slow process.

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    Finra charges SWS with improper supervision of VA transactions

    SWS Financial Services charged with green-lighting variable annuity applications without proper review for suitability.

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    SEC charges ex-Axa broker with running $1.5 million Ponzi

    Dennis Wright allegedly stole money from at least 28 customers, including childhood friends and inexperienced investors.

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    The secret Goldman Sachs tapes

    How one brave federal regulator got the goods on the New York Fed's hands-off policy toward Goldman.

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    WFG Investments facing $650,000 Finra 'global fine'

    Comes on heels of another $200,000 penalty last year for missing a stock-fraud scheme

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    Yellen to the markets: Don't say you weren't warned

    Midweek Breakfast with Benjamin: Yellen warned us. Plus: SEC probes Pimco ETF over asset pricing, America's 401(k)s are failing investors, and how Obama's attack on corporate inversions flunks basic math.

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    Man who ate tips pleads guilty to Grand Central insider scheme

    A New York man admitted to illegally passing inside corporate information to a Morgan Stanley broker on notes at Grand Central Terminal, and then chewing and swallowing the evidence.

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    Bernie Madoff's son leaves more than $15M in his will

    Andrew Madoff, the son of the convicted Ponzi schemer, lists $11M in personal property and $4.5M in improved real property.

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    SEC takes a hard stance on soft dollar abuses

    The SEC recently announced sanctions against a broker-dealer in New York for ignoring red flags and making improper soft dollar payments to a San Diego-based registered investment adviser. The broker-dealer paid more than $400,000 to the RIA, even though the advisory firm failed to make full ...

  13. Articles

    Wells Fargo facing possible Finra action over anti-money-laundering failures

    Firm receives Wells Notice notifying it that action is possible because one branch office's activity