Weizhen Tang’s battle against the OSC and the justice system came to a halt yesterday when a jury convicted him of fraud.
Francis Martin Florey was quickly caught and fined by FINRA for both impersonating a wealthy client and attempting to steal their funds.
From April 2008 to June 2010, an Ontario rep deposited and misused more than $19 million in investor funds. He faces disgorgement and a fine of $750,000.
Michael Cody of Fredericton has been sentenced to 30 days in jail after pleading guilty in court yesterday to breaching a New Brunswick Securities Commission order.
The OSC is preparing to sanction co-founder Michael Mendelson. It will also focus on Portus itself in coming months.
A disciplinary hearing in the matter of Russell Brower-Berkhoven was held today in Alberta before a three-person hearing panel of the MFDA’s Prairie Regional Council. Brown was registered in British Columbia as a mutual fund salesperson with Sterling Mutuals Inc. from November 2006 to December 2006, and from November 2007 to November 2009. He was […]
The whistleblower who recently reported a multi-million dollar fraud will receive nearly $50,000—the first payout from a new SEC program that rewards people for providing evidence of fraud.
From 1999 to April 2002, Salim Damji—who claimed to have invented a new teeth-whitening product for Colgate—defrauded investors out of approximately $77 million. And he used BMO accounts to deposit and transfer the stolen funds. It’s alleged the bank knowingly assisted Damji; according to the Ontario Superior Court’s decision documents, it was aware the funds […]
A former Morgan Stanley adviser has been handed a nine-month prison sentence for conspiring to evade the bank’s internal controls, reports Financial Times. Garth Peterson—an American who worked at Morgan Stanley’s Shanghai real estate office—was sentenced on Thursday in New York. He bribed a Chinese official to gain profitable real estate investments for both the […]
Trustee James Giddens—who’s overseeing the liquidation of the brokerage MF Global—has decided to sue some of its high-level execs, reports Financial Times. He plans to join existing class-action lawsuits, which were launched against several senior MF Global employees; John Corzine, Henri Steenkamp, and Laurie Ferber are all named in various suits. Read: Giddens seeks distribution […]