US brokerage charged with fraud
621697
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.
227884
Eliot Spitzer, the New York state attorney general, yesterday accused the world&#39;s largest insurance broker of cheating customers by rigging prices and steering business to insurers in exchange for millions of dollars in kickbacks.
206854
The U.S. Securities and Exchange  Commission on Thursday charged brokerage firm Raymond James  Financial Inc. RJF.N with fraud over the misconduct of a  former broker in 1999 and 2000.
693535
The French bank said that the fraud had been committed by a trader in charge of hedging on European index futures.
244781
NEW YORK -- US government prosecutors filed charges in one of the biggest insider-trading cases on Wall Street since the 1980s, claiming employees at UBS AG , Morgan Stanley , and Bear Stearns Cos. profited from advance knowledge of mergers and stock picks.
471806
A former New York Stock Exchange floor   trader charged with securities fraud was "a crooked card dealer   in a crooked card game," federal prosecutors said on Thursday   during closing arguments.
289696
US regulators launch an inquiry into whether Wall Street's top brokers adopted trading practices which left clients out of pocket.
30539
The National Association of Securities Dealers yesterday charged the distributor of American Funds, the number three US mutual fund company, with breaking a NASD rule by paying brokerages $100 million in rewards over three years for being top sellers of its funds.
185053
US regulators filed fraud charges on Monday against former Hollinger International Inc. (HLR.N: Quote, Profile, Research) Chairman Conrad Black and his deputy, David Radler.
222831
Marsh &amp; McLennan, the US insurance broker accused of rigging the market to win bogus fees from customers, yesterday warned lines of credit from lenders
615114
Prosecutors indicted a Korean bank and a Belgium-based holding company owned by Lone Star Funds, an American private equity group, on charges of stock price manipulation in connection with Lone StarÂs 2003 acquisition of the bank. Lone StarÂs vice chairman, Ellis Short, and its general counsel, Michael Thomson, already face charges of spreading false information to weaken the stock price of the Korea Exchange BankÂs credit card unit before it was bought by Lone Star. The new charges are against the bank and LSF-KEB Holdings, a paper company based in Brussels that Lone Star set up in 2003 to take over the bank, according to Chae Dong-wook, a senior prosecutor. Officials of the bank and other Lone Star officials declined to comment.
264685
A New York man who was sentenced some five years ago for his role in a securities fraud scheme was arrested on Tuesday for allegedly defrauding investors of millions of dollars in a foreign exchange scam.
465074
(InfoWorld) - The U.S. Securities and Exchange Commission has filed securities fraud charges against two Texas men who allegedly hijacked computers nationwide to send millions of spam e-mails and cheat investors out of more than $4.6 million. The men used networks of compromised computers, often called botnets, to send out spam about at least 13 penny stock companies, the SEC said Monday. The SEC began to investigate the operation after one of its enforcement attorneys received one of the e-mail messages at work. Darrel Uselton and his uncle, Jack Uselton, both repeat securities law violators, illegally profited during a 20-month scalping scam, the SEC said. The two obtained shares from 13 or more penny stock companies and sold those shares after pumping up the market through manipulative trading, spam e-mail campaigns, direct mailers and Internet-based promotions, the SEC said. The SEC defines scalping as recommending that other people purchase a security while secretly selling the same stock. In related actions, the Attorney General's Office for Texas and the Harris County District Attorney's Office indicted the Useltons for engaging in organized criminal activity and money laundering. The Texas authorities have seized more than $4.2 million from bank accounts controlled by the Useltons, the SEC said. The SEC's action is "intended to protect investors from fraud artists who would treat the investing public as their personal ATM machines," SEC Chairman Christopher Cox said in a statement. The scheme, by combining get-rich-quick promises, computer intrusions and spam, was a "virulent threat to ordinary investors," he added. The SEC's complaint, filed in the U.S. District Court for the Southern District of Texas in Houston, alleges that the Useltons used an array of computer botnets to anonymously flood the inboxes of American investors with millions of spam e-mails touting near-worthless penny stocks. Each campaign, which featured a single company, lasted from several days to several weeks. Between May 2005 and December 2006, the Useltons obtained more than $4.6 million through their fraudulent scheme, the SEC alleged. The Useltons and the companies they controlled typically received unrestricted shares from penny stock companies for little or no money, in return for purported financing or promotional activities, the SEC said. Darrel Uselton was disciplined by the National Association of Securities Dealers in 2004 and 2005. Jack Uselton was permanently barred from violating the SEC's antifraud provision in a 2002 settled action, the SEC said. The SEC in March 2007 suspended trading in the securities of three of the companies involved as part of its antispam initiative. The SEC revoked the registration of a fourth company in December 2005.
346143
The former head of Wood River Capital Management has been indicted on charges that he engaged in securities fraud that cost investors $88 million.
363047
The United States attorney's office in Manhattan is investigating individual traders on the floor of the New York Stock Exchange on suspicion of cheating customers through illegal trading practices.
284188
Man had been charged with one of the largest such scams in U.S. history.
632683
WASHINGTON  - 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.