Latest Securities fraud News

Former lawmaker must pay more than $10 million in fraud case

Apr. 09, 2021 17:48 PM EDT

ATLANTA (AP) — A lawyer for a former state lawmaker and Georgia Board of Regents member says his client has been ordered to pay nearly $10.8 million after being accused of running what authorities called a Ponzi scheme. Dean Alford of Conyers resolved the matter through...

Man accused in $227M Ponzi scheme involving film rights

Apr. 06, 2021 20:11 PM EDT

LOS ANGELES (AP) — A Los Angeles man was arrested Tuesday on suspicion of running a $227 million Ponzi scheme that solicited investors for phony film licensing deals, federal prosecutors said. Zachary Joseph Horwitz, 34, was charged with wire fraud, which carries a...

Feds: Businessman agrees to guilty plea in investment scheme

Apr. 01, 2021 15:04 PM EDT

INDIANAPOLIS (AP) — An Indianapolis businessman plans to plead guilty to federal charges alleging that he operated a fraudulent investment scheme involving more than 100 people who invested more than $11 million. Federal prosecutors said in court documents filed...

San Diego woman sentenced for nearly $400M Ponzi scheme

Mar. 31, 2021 20:27 PM EDT

SAN DIEGO (AP) — A San Diego businesswoman whose Ponzi scheme bilked hundreds of people out of nearly $400 million was sentenced Wednesday to 15 years in federal prison. Gina Champion-Cain, 57, received more than the sentence recommended by prosecutors. At the...

Economist who pulled Albania out of 1997 anarchy dead at 58

Mar. 29, 2021 12:34 PM EDT

TIRANA, Albania (AP) — Bashkim Fino, who was appointed to shepherd Albania out of almost total chaos when fraudulent investment schemes collapsed 24 years ago and angry crowds looted military installations nationwide, has died. He was 58. The former prime minister's...

Tech company founder gets 8 years in prison for stock fraud

Mar. 26, 2021 15:56 PM EDT

ALEXANDRIA, Va. (AP) — Whether Daniel Boice’s idea for a company was any good is debatable — he billed it as a sort of “Uber for private investigators” called Trustify — but his timing was impeccable. He launched in 2015, just when the cheating-spouse website...

Man sentenced for concert investment scheme

Feb. 22, 2021 19:48 PM EST

ORLANDO, Fla. (AP) — A Florida man was sentenced Monday to four years and nine months in federal prison for his part in a multimillion-dollar concert investment scheme. Edison Denizard, 41, of Orlando, was sentenced in Orlando federal court, according to court records....

Investment advisor pleads guilty to defrauding clients

Feb. 18, 2021 08:06 AM EST

MINNEAPOLIS (AP) — A Twin Cities area investment advisor has pleaded guilty to defrauding his clients out of more than $2 million. Isaiah Leslie Goodman, 33, has pleaded guilty to one count of mail fraud, according to U.S. District Attorney Erica MacDonald. ...

California lawyer charged with bilking investors of $4.5M

Feb. 09, 2021 19:11 PM EST

NEW YORK (AP) — A California lawyer was arrested Tuesday on fraud charges alleging he bilked investors out of at least $4.5 million by lying about a real estate opportunity and making it seem he controlled land he did not. Derek Jones, 46, of San Marino, California,...

Australian man convicted in nearly $90M cryptocurrency scam

Feb. 04, 2021 22:35 PM EST

NEW YORK (AP) — An Australian man pleaded guilty Thursday to securities fraud for cheating investors of over $90 million by squandering money they spent on his cryptocurrency fund, prosecutors said. Stefan He Qin, 24, entered the plea to a single count of the fraud...