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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.
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.
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.
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.
Adviser faces nine years in prison for diverting investment funds
Self-styled “Financial Coach" sentenced to prison term, $3.6 million restitution for fraud.
Regulators zero in on protecting elderly investors
Finra files cease-and-desist order against brokerage firm for sales to older customers.
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.
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.
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.
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
Ex-JPMorgan Chase broker charged with stealing $20M from clients
Allegedly was investing in municipal securities, but pocketed money instead
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
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.
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)
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.