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  1. Articles

    Former brokerage firm chief compliance officer charged with fraud

    Faces both criminal and civil charges for allegedly funneling $500,000 of the $800,000 he allegedly scammed from investors to his brothers.

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    Third Madoff employee avoids prison sentence

    David Kugel, who helped create fake securities trades as part of the $17.5 billion Ponzi scheme, received a lighter sentence after helping the prosecution.

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    Phony adviser convicted for conning a real adviser out of $11.3 million

    Breakfast with Benjamin: A fake financial adviser was found guilty of wire fraud and money laundering related to $11.3M he conned from a real adviser.

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    6 banks to pay $5.6 billion for manipulating foreign-exchange markets

    Guilty pleas will require the banks' money management units to seek an exemption from the Labor Department to continue managing retirement plan assets.

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    Adviser faces nine years in prison for diverting investment funds

    Self-styled “Financial Coach" sentenced to prison term, $3.6 million restitution for fraud.

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    Regulators zero in on protecting elderly investors

    Finra files cease-and-desist order against brokerage firm for sales to older customers.

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    Widow of Home Shopping founder sues Morgan Stanley for $400M

    Lynnda Speer, widow of a Home Shopping Network co-founder, alleges excessive trading and negligent supervision by Morgan Stanley in an arbitration claim.

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    SEC says phony adviser is ripping off members of the military

    The latest pretend adviser to emerge, Leroy Brown Jr., may win a grand prize for lying.

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    ARCP insiders generated $900M in fees during buying binge: lawsuit

    In an updated lawsuit, plaintiffs allege American Realty Capital Properties insiders artificially inflated a key metric to help it grow into a powerhouse with 4,400 properties and $21 billion in assets.

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    Identity theft hits home

    I was going through my mail the other day after weeks of neglect. (I'm also a CPA and have been completely focused on April 15!) I was surprised to see account opening documents for my 27-year-old son at Merrill Lynch and TIAA-CREF. (He allowed me to open the envelopes — I'm not a snoop!) As my kid

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    Ex-JPMorgan Chase broker charged with stealing $20M from clients

    Allegedly was investing in municipal securities, but pocketed money instead

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    Ex-NFL cornerback Will Allen accused of running Ponzi scheme

    SEC alleges the NFL vet and his partner used cash from clients to fill a $7M shortfall in investor payments

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    New Hampshire wants LPL to pay $3.6M over nontraded REIT sales

    Case, involving 48 sales, stems from an 81-year-old investor who lost a substantial amount on the product.

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    NFL star Dwight Freeney sues BofA, adviser for $20 million

    Dwight Freeney accuses the firm and adviser Michael Bock of leading him into a massive scam. (Plus: 7 athletes who say they were duped by advisers)

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    SEC charges private-equity queen Lynn Tilton with fraud

    Regulator says self-proclaimed billionaire misled investors about the value of risky pools of corporate loans.