Latest Securities fraud News

Former health care executive charged with securities fraud

Dec. 10, 2018 2:23 PM EST

NEWARK, N.J. (AP) — A British national has been charged in a plot to defraud investors out of hundreds of millions of dollars in connection with a health care company. The U.S. attorney's office says Pavandeep Bakhshi was arrested at New York's JFK Airport over the weekend. He's scheduled to appear in...

Jury convicts Vegas man in $1.5B Japan-US investment scheme

Nov. 29, 2018 7:42 PM EST

LAS VEGAS (AP) — A 79-year-old former head of a Las Vegas and Tokyo investment firm is facing the rest of his life in a U.S. prison after a jury in Nevada found him guilty of bilking thousands of Japanese victims in what prosecutors called a $1.5 billion international Ponzi scheme. Edwin Fujinaga is due...

Ex-IMF chief on trial again, now over Spanish bank flotation

Nov. 26, 2018 4:06 AM EST

MADRID (AP) — Spain's National Court is beginning a massive trial over alleged fraud in the stock market listing of Bankia, a financial giant that was bailed out during the country's economic crisis. Former Ineternational Monetary Fund chief Rodrigo Rato, who was Bankia's chairman between 2010 and 2012, is...

Ruling throws indicted Texas AG's case into more uncertainty

Nov. 21, 2018 2:01 PM EST

AUSTIN, Texas (AP) — The fate of the long-running criminal case against Texas Attorney General Ken Paxton, who has faced securities fraud charges since 2015, was thrown into further uncertainty Wednesday after a court ruled against prosecutors who have threatened to quit if they're not paid. The decision...

Renault board: Ghosn to remain CEO while detained in Japan

Nov. 20, 2018 6:41 PM EST

PARIS (AP) — Carlos Ghosn will remain chairman and CEO of Renault despite being detained in Japan on allegations he misused assets of partner Nissan Motor Co. and under-reported millions of dollars in income. The French carmaker's board of directors announced its decision after an emergency meeting in...

New Tesla chairwoman's biggest challenge is controlling Musk

Nov. 8, 2018 5:18 PM EST

DETROIT (AP) — Australian telecommunications executive Robyn Denholm brings much-needed financial and auto industry expertise to her new role as Tesla's board chairwoman, but her biggest challenge is whether she can rein in a CEO with a proclivity for misbehavior. Denholm, who has been a Tesla board member...

Texas attorney general favored to win despite indictment

Oct. 27, 2018 4:15 PM EDT

AUSTIN, Texas (AP) — Three years ago, criminal charges against Texas Attorney General Ken Paxton appeared to put his political future in peril. He is still under indictment, having pleaded not guilty to two felony counts of securities fraud. But now the Republican is favored to win a second term in...

Investment adviser to be sentenced in April for Ponzi scheme

Oct. 25, 2018 11:50 AM EDT

GREENBELT, Md. (AP) — A federal judge has scheduled a sentencing hearing next year for a Maryland investment adviser convicted of defrauding investors out of millions of dollars to finance her lavish lifestyle. A jury convicted 56-year-old Dawn Bennett last week of charges including securities fraud, wire...

SEC settles fraud allegations against the 'Frack Master'

Oct. 23, 2018 4:40 PM EDT

DALLAS (AP) — Federal officials say a man who called himself the oil and gas "Frack Master" on cable television has agreed to serve 12 years in prison after pleading guilty to securities fraud and tax charges. The U.S. Attorney in Dallas, Erin Nealy Cox, announced the plea deal Tuesday with Christopher...

Woman convicted of fraud; FBI said she cast 'hoodoo' spells

Oct. 17, 2018 12:00 PM EDT

GREENBELT, Md. (AP) — An investment adviser was convicted Wednesday of charges she defrauded investors out of millions of dollars, some of which she used to pay more than $800,000 for prayers by Hindu priests in India to ward off federal investigators. A federal jury deliberated for roughly four hours over...