|Comments Off on Securities watchdog bans second broker in alleged Veros Ponzi scheme

Financial industry regulators have permanently barred a local broker alleged to have participated in a Ponzi scheme.

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|Comments Off on New Albany, Indiana Man Arrested on Multiple Counts of Securities Fraud and Theft

New Albany, Indiana Man Arrested on Multiple Counts of Securities Fraud and Theft

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|Comments Off on Trader Charged $9M Ponzi Scheme Not Singled Out

An Illinois federal judge on Thursday refused to dismiss an indictment against a Chicago trader who has been charged with wire fraud for orchestrating an alleged $9 million Ponzi scheme, ruling that he wasn’t singled out for prosecution while other similarly situated violators were let off the hook.

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|Comments Off on U.S. Takes Down Call-Center Financial Scam

Federal authorities said Thursday they had dismantled a massive call-center scheme perpetrated by individuals in the U.S. and India who bilked thousands of Americans out of hundreds of millions of dollars by posing as Internal Revenue Service and Department of Homeland Security officials.

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|Comments Off on Florida Man Gets 17 Years For Currency Trading Fraud Scheme

A Florida man was sentenced Tuesday in Miami to more than 17 years in federal prison for duping about 300 investors out of millions of dollars through a phony currency trading firm before cashing out and fleeing to Panama.

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|Comments Off on SEC sets record in enforcement actions against investment advisers

Uptick in adviser crackdown attributed to better data analytics and agency’s new unit focused on asset management

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|Comments Off on SEC Charges Adviser Over Cherry-Picking Trades

The U.S. Securities and Exchange Commission on Tuesday filed an in-house suit alleging a Hawaii-based investment adviser cherry-picked profitable trades for himself instead of clients’ accounts and falsely claimed he wouldn’t “double dip” on management and advisory fees.

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|Comments Off on Royal Bank Unit Aided $123M ATM Ponzi Scheme, Suit Says

Royal Bank of Canada and a Los Angeles-based banking subsidiary have been sued in California state court for negligence and other claims by dozens of individual investors alleging a bank officer enabled a $123 million Ponzi scheme through an ATM machine leaseback program operated by the in-receivership Nationwide Automated Systems Inc.

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|Comments Off on Paving Stone Co. Head Gets 10 Years For $26M Ponzi Scheme

A New York man on Friday was sentenced to over 10 years in prison for running a $26 million Ponzi scheme through a purported paving stone company, in a case that has also ensnared a former U.S. Securities and Exchange Commission attorney accused of aiding the scheme.

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|Comments Off on Charlestown, Indiana man pleads guilty in securities fraud case

A Charlestown man was ordered to pay $250,000 in restitution after pleading guilty in a securities fraud case Monday.

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