Earlier this month, Indiana announced its first whistleblower award, giving $95,000 to a former JP Morgan official who helped the state’s regulators make an advice-related case against the firm that resulted in a $950,000 settlement. The informant showed how the firm failed to make proper disclosures to clients about proprietary funds in discretionary accounts. The whistleblower exposed JP Morgan for putting its interests before its clients.
Software makers and speculators help to keep $47 million a year flowing through a world of fraudulent investment schemes.
A financial adviser convicted of running an 8-year, $4.2 million Ponzi scheme was sentenced to five years in prison Thursday after several of her victims spoke about how she selected elderly and ill people to defraud.
A Missouri grain dealer who stole tens of millions of dollars from farmers may turn out to be their best ally as they try to recoup losses from corn giant Archer-Daniels-Midland Co.
The Texas-based proprietor of an oil and gas exploration company has been arrested by federal authorities on charges of mail fraud for luring investors to sink $2.6 million into an oil and gas investment program that was actually a Ponzi scheme, authorities announced Friday.
Scott Starr, a partner with the Logansport-based law firm Starr Austen & Miller, said he spent about a year investigating LMW on behalf of a couple dozen investors starting in 2014.
Former Philadelphia Eagle Merrill Robertson Jr. defrauded his former coaches and other investors out of about $6 million, the Securities and Exchange Commission alleged in a complaint filed on Wednesday.
Two former brokers with disciplinary histories from Chattanooga are under investigation for securities fraud by the Securities & Exchange Commission (SEC), the Tennessee Department of Commerce & Insurance (TDCI) and the FBI.
JPMorgan Chase & Co. has reached a settlement with Indiana regulators related to its asset management business, and now other states are expressing interest in how Indiana built its case.
Patrick E. Churchville, a Rhode Island investment adviser has pleaded guilty to running a massive $21 million ponzi scheme.