Search results
Results From The WOW.Com Content Network
The Madoff investment scandal was a major case of stock and securities fraud discovered in late 2008. [1] In December of that year, Bernie Madoff, the former Nasdaq chairman and founder of the Wall Street firm Bernard L. Madoff Investment Securities LLC, admitted that the wealth management arm of his business was an elaborate multi-billion-dollar Ponzi scheme.
Case in point? These 10 famous examples of investment gone horribly wrong: 1. DeLorean Motor ... Pleading guilty to 11 federal felonies -- including securities fraud, investment fraud and money ...
Dennis Kozlowski, former CEO of Tyco International, convicted in 2005 of fraud and other crimes related to his receipt of $81 million in unauthorized bonuses, the purchase of art for $14.725 million and the payment by Tyco of a $20 million investment banking fee to a former Tyco director.
He was charged with fraud and forgery by Toronto police but was not convicted, since the Canadian courts lacked adequate trial time to give him a trial. The following year, he was arrested again and charged with fraud in a similar print investment scheme that netted $9 million. In 2018, he was convicted for fraud and sentenced to eight years.
Following is a list of securities frauds (also called stock frauds or investment frauds): 2003 Mutual-fund scandal: A number of major brokerages and mutual fund firms were accused of various deceptive acts that disadvantaged customers. Among them were late trading and market timing. Various SEC rules were enacted to curtail this practice. [1]
The Department of Justice is advancing a case alleging that two men in Estonia cheated investors in a byzantine cryptocurrency mining operation that generated $575 million, authorities said.
Peregrine Systems [8] [10] corporate executives convicted of accounting fraud; Phar-Mor [8] company lied to shareholders. CEO was eventually sentenced to prison for fraud and the company eventually became bankrupt; Qwest Communications [10] RadioShack CEO David Edmondson lied about attaining a B.A. degree from Pacific Coast Baptist College in ...
The justices ruled in a 6-3 vote that people accused of fraud by the SEC, which regulates securities markets, have the right to a jury trial in federal court. ... The case is among several this ...