SEC Charges Raymond James with Fraud
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U.S. securities regulators on  Thursday charged brokerage Raymond James Financial Inc. RJF.N  with fraud over misconduct by a former broker charged with  misappropriating about $8.7 million in investor funds.
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Raymond James Financial Inc., a brokerage with 2,200 offices that&#39;s based in St. Petersburg, Fla., and the company&#39;s former president were sued by the Securities and Exchange
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LOS ANGELES - A former executive at mortgage lender Countrywide Financial Corp. was charged yesterday with insider trading after he sold stock before the company disclosed negative earning results three years ago, regulators said.
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The Securities and Exchange  Commission on Thursday filed fraud charges against hedge fund  manager Robert Berlacher and the Lancaster group of hedge  funds, alleging they engaged in an illegal trading scheme  involving at least 10 unregistered securities offerings.
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The U.S. Securities and Exchange Commission filed civil fraud charges against the former general counsel of Monster Worldwide Inc.  in a stock options backdating case, an agency official said on Thursday.
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The former chairman of US software firm Computer Associates is charged with securities fraud in connection with a $2.2bn accounting scandal.
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The Securities and Exchange Commission said Tuesday it brought fraud and insider trading charges against former top executives of bankrupt credit card issuer NextCard Inc.
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Federal prosecutors charged an ex-partner of McGuireWoods with fraud, claiming that he illegally obtained and sold shares of various companies.
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US securities officials charged the disgraced former press baron, Conrad Black and his former deputy, David Radler, with securities fraud in connection with alleged wrongdoing at Hollinger International.
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US securities officials charged the disgraced former press baron, Conrad Black, and his former deputy, David Radler, with securities fraud in connection with alleged wrongdoing at Hollinger International.
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WASHINGTONâThe US Securities and Exchange Commission yesterday charged brokerage firm Raymond James Financial Inc. with fraud over the misconduct of a former broker in 1999 and 2000.
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(InfoWorld) - The former legal counsel for McAfee is facing federal charges of improperly backdating stock options at the security software company. Kent Roberts, 50, of Dallas, was indicted Tuesday by a federal grand jury on seven counts of fraud for improperly backdating options between 2000 and 2002, according to a statement from the U.S. Attorney's Office for the Northern District of California in San Francisco. Roberts is charged with "devising a scheme to defraud by granting himself and others valuable in-the-money stock options while hiding the true nature and value of the stock option grants," the statement says. Roberts hid the fraud from the company, then known as Network Associates, its board, shareholders, auditors, and the U.S. Securities and Exchange Commission (SEC). Roberts joins a small butÂ growing list of executivesÂ or former executives of companies charged in the U.S with improperly backdating stock options grants to make them more profitable for the recipients, but at the expense of shareholders. More than 100 U.S. companies are under investigation by the SEC, federal prosecutors, or through internal audits. According to the indictment, the Network Associates board granted Roberts the option to buy 20,000 shares of Network Associates' stock at the strike price of $29.62, which was the price at which the stock closed on Feb. 14, 2000. In late 2000, Roberts became concerned that his options were "underwater," that is, the $29.62 exercise price of the grant was more than the market price for stock. Roberts allegedly caused Network Associates' then-controller to change the grant date and exercise price in the computer system that recorded stock option grants. The grant date was changed to April 14, 2000, with a new exercise price of $19.75. Furthermore, Roberts implicated the then-controller in the improper backdating of other stock options for consultants to the company. Roberts initiated an investigation in 2002 and recommended that the controller be removed from his position. Roberts also participated in a conference call with the SEC at the time, in which he implicated the controller. All the while, the indictment says, Roberts never mentioned that the controller backdated his options, too. The government also says that Roberts altered board meeting minutes to change the date on which options were granted to the company's then-CEO and chairman. He allegedly changed the options date from Jan. 15, 2002, when the stock closed at $27.19, to Jan. 16, when it closed at only $25.43. The greater the difference between the lower options price and the higher market price when the executive exercises the option, the greater the profit. Roberts is scheduled to be arraigned Thursday before Federal Magistrate Judge Joseph C. Spero in San Francisco. Roberts' attorney Neal Stephens could not be reached for comment.
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Former Canadian and UK media tycoon Conrad Black is charged with fraud by US regulators.
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The former N.Y.S.E. trader, Donald R. Foley II, who worked at Fleet Specialists, faced two counts of securities fraud.
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The U.S. government on Thursday  charged 13 people, including employees at major Wall Street  banks, with securities fraud, wire fraud, bribery and other  charges in what authorities are calling one of the most  pervasive insider trading rings in years.
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H&amp;R Block Inc.&#39;s (HRB.N: Quote, Profile, Research) financial advisors unit was charged with fraud by the NASD for misrepresenting the risks to investors of bonds from Enron Corp.
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Six New York men were arrested and   charged with fraud and conspiracy on Friday, accused of running   a foreign exchange scam that cheated more than 230 investors   out of as much as $7 million, government officials said.