The Securities and Exchange Commission has charged Bank of America and two subsidiaries with defrauding investors in an offering of residential mortgage-backed securities (RMBS) by failing to disclose key risks and misrepresenting facts about the underlying mortgages.
The Financial Services Commission of Ontario warns consumers about Sentel Insurance
The Securities and Exchange Commission today charged the city of Miami and its former budget director with securities fraud in connection with several municipal bond offerings and other disclosures made to investors.
Financial services consultant Jeff Thompson* was crossing the U.S. border a few years ago when his vehicle was surrounded by armed border guards and his entire family ordered to step out. They told him his youngest son shared a name with a fugitive.
The GTA Financial Crime Section of the Royal Canadian Mounted Police (RCMP) has charged and arrested Mississauga resident Jagdeep Bhinder, 46, with 2 counts of Fraud Over $5000 relating to small business loans. The estimated value of loss is approximately $500,000.
A money laundering investigation has netted 25 arrests, say Toronto Police.
Former Enron CEO Jeffrey Skilling could see 10 years shaved off his 24-year jail sentence, Bloomberg reports.
Legal proceedings unfolding in the U.K. have revealed Bernie Madoff’s operation there was a “warehouse for stolen money,” reports the Financial Times.
A German bank employee fell asleep and accidentally transferred millions of euros from an account belonging to a retiree client.
The executive director of the British Columbia Securities Commission has issued a notice of hearing alleging that a resident of Mill Bay, B.C. advised hundreds of people to purchase securities without being registered and perpetrated a fraud.