securities fraud News

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Larry Wilcox: 5 Facts on the 'CHiPs' Star in Real-Life Legal Drama

What would Officer Jonathan Baker say? Larry Wilcox, an actor who played Baker on the classic TV show "CHiPs," will spend three years on probation -- and also pay $100 and perform 500 hours of community service -- for conspiring to commit securities fraud, The Associated Press reports. Wilcox was caught up in a sting...

Bankruptcy, Scandal Have California Town Reeling

SAN FRANCISCO (Nov. 18) -- Farmers in the Eel River Valley dairy lands of Northern California looked up to Rich Ghilarducci. He ran the Humboldt Creamery, a thriving cooperative that increasingly pushed organic products. The former mayor of the town of Rio Dell made major contributions to local charities and headed the...

securities fraud News From AOL

THE HUFFINGTON POST - BUSINESS

2 Men Accused In $500 Million Financial Fraud Case

Federal prosecutors in Chicago have announced one of their largest-ever financial fraud cases.

THE HUFFINGTON POST

Sanjay Sanghoee: SEC Should Use Wall Street Technology to Detect Corporate Crime

In my article last week on funding for the Securities and Exchange Commission ( "Wall Street Reform: Taking a Knife to a Gunfight" ), I advocated increasing the budget for the agency to better enable it to police Wall Street.

THE HUFFINGTON POST - BUSINESS

Gupta's Alleged Insider Tip On Buffett-Goldman Deal, 'As Top Secret As You Could Get'

The deal that gave Goldman Sachs Group Inc a $5 billion boost from renowned investor Warren Buffett at the height of the 2008 financial crisis was "as top secret as you could get," a leading banker testified at the insider-trading trial of onetime Goldman board member Rajat Gupta.

THE HUFFINGTON POST - BUSINESS

Ex-Yahoo Director Charged With Insider Trading

Federal prosecutors on Monday announced insider trading charges against a former Yahoo employee and a fund manager for illegally sharing and trading on secret company information.

THE HUFFINGTON POST - TECHNOLOGY

Richard (RJ) Eskow: 10 Reasons to Be Suspicious About Wall Street's Facebook Fiasco

Three of Wall Street biggest and best-known financial institutions handled the Facebook IPO, so why were people immediately suspicious when the stock soared and then promptly tanked?

securities fraud News From the Web

06/03/12 Matsushita Tapped to Tackle Insider Trades as New... Source: Bloomberg.com Tadahiro Matsushita, a Japanese Lower House lawmaker, is set to helm the country's financial watchdog, replacing Shozaburo Jimi as the government intensifies probes into insider trading and accounting fraud.
06/03/12 US SEC says taking "close look" at zombie funds Source: Business Standard US regulators are looking at so-called zombie funds where money managers continue to get paid from investors even though the fund is essentially inactive, a top Securities and Exchange Commission official said on Sunday.
06/03/12 2 accused in $500M Illinois financial fraud case Source: The Daily Journal - Kankakee IL In one of their largest financial-fraud cases ever, federal prosecutors in Chicago announced charges Friday against the former CEO and head trader at a now-bankrupt cash-management firm accused of defrauding more than 70 customers out of more than $500 million.
06/03/12 U.S. SEC says taking "close look" at zombie funds Source: Reuters U.S. regulators are looking at so-called zombie funds where money managers continue to get paid from investors even though the fund is essentially inactive, a top Securities and Exchange Commission official said on Sunday.
06/02/12 OpEd: More rules not the answer: Regulators must... Source: Crain's Chicago Business Many are shocked by the $3 billion-and-counting trading loss at JPMorgan Chase & Co., following so soon after the worst financial crisis since the Great Depression.

Background on securities fraud

Securities fraud, also known as stock fraud and investment fraud, is a practice that induces investors to make purchase or sale decisions on the basis of false information, frequently resulting in losses, in violation of the securities laws.

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