The U.S. soldier accused of murdering 16 civilians in Afghanistan has a rather checkered past, as an Ohio stock broker, according to a report on Bloomberg.com.
The FBI recently indicted 54-year-old Adriano Sotomayor from New Jersey for allegations that he impersonated a Catholic priest and ran a scam against an elderly nun and her sisters for two years.
Michael Douglas, famous for his line “greed is good” in the 1987 film Wall Street, has stepped up as the new spokesman for the FBI in its war against corruption on Wall Street.
Victims of financial fraud often approach law-enforcement authorities, financial institutions and credit rating bureaus. However, few think of turning to the one person who’s responsible for their financial well-being: the advisor.
In December, the U.S. Securities and Exchange Commission apprehended James Davis Risher, a self-proclaimed experienced equity trader, for operating a $22 million Ponzi scheme.
UBS has recently suspended a group of its most senior traders in connection with an international probe into possible manipulation of interbank borrowing rates. This is the latest controversy to hit the Swiss bank since the financial crisis.
Regulators on both sides of the border are warning investors of risky or possibly fraudulent investments promising higher yield or returns.
Scam artists looking to ensnare investors are taking advantage of those troubled by economic uncertainty and volatile markets, says The Canadian Securities Administrators.
Wells Fargo broker Tom D. Hamsher has been permanently barred by FINRA from working for any member firm for violations related to the sale of securities issued by financial institutions including Fannie Mae and Freddie Mac. From 2006 to 2008, Hamsher misrepresented and omitted material facts in communications with customers who on his advice purchased […]
A judge has thrown out several lawsuits by investors who blame hedge funds for failing to detect Bernard Madoff's massive fraud, saying the one-time Nasdaq chairman "cleverly leveraged his considerable reputation" to dupe even the most sophisticated financial entities, including regulators and Wall Street banks.