A former advisor was charged with fraud and arrested last month.
A man posing as a successful Ivy-league businessman has been convicted of defrauding several celebrities out of nearly $250,000. The victims include former Toronto Argonauts players Michael “Pinball” Clemons and Damon Allen, as well as former child actor Ken Vadas, and former Sick Kids specialist Dr. Rahim Valani, reports thestar.com. The Crown found Oakville, Ont. […]
The alleged manipulation of LIBOR by banks may have cost Fannie Mae and Freddie Mac $3 billion in uncollected interest payments, reports ft.com. These alleged losses would have affected their holdings of floating-rate bonds and interest rate swaps from September 2008 through to June 2010. Read more. Also read: UBS agrees to $1.5 billion LIBOR […]
Advisor.ca has compiled the top fraud and fine stories of the day.
A British Columbia Securities Commission panel has permanently banned a B.C. man from the province’s capital markets.
The SEC is charging a Brazilian ex-banker for his role in a Burger King insider-trading scheme.
A whistleblower is alleging that multi-billion dollar securities violations have occurred at Deutsche Bank.
An ex-Rochdale Securities trader is being charged with fraud.
Swiss bank UBS may be near a Libor-related settlement with U.S. and U.K. regulators. Over its alleged role in the tampering of global interest rates, Switzerland’s biggest lender could be paying more than $466 million in penalties, says a Washington Post report. Citing an unnamed source close to the matter, the report says “an announcement […]
Kaveh Vahedi, a 51-year-old business owner and mortgage broker, has been keeping himself busy—and very rich—over the past few years.