Latest Securities fraud News

Florida attorney gets 7 years for securities fraud scheme

Feb. 15, 2019 6:49 AM EST

MIAMI (AP) — A Florida attorney has been sentenced to seven years in prison and ordered to pay $19.7 million in restitution for securities fraud. Court records show that 77-year-old James Schneider was sentenced Thursday in Miami federal court. He was convicted in December of multiple charges, including...

Judge orders $1B in fines, payments in investor fraud

Jan. 28, 2019 3:55 PM EST

MIAMI (AP) — A federal judge in Florida has ordered $1 billion in payments and fines in a fraud scheme that fleeced thousands of investors. The Securities and Exchange Commission said in a news release Monday that the Woodbridge Group of Companies and its former owner were ordered to pay the money to...

2 charged with hacking SEC computers in trading scheme

Jan. 15, 2019 2:11 PM EST

NEWARK, N.J. (AP) — Two Ukrainian men hacked into the Securities and Exchange Commission's computers to steal thousands of quarterly and annual reports of public companies and worked with traders to use the information to make more than $4 million in illegal profits, U.S. Attorney Craig Carpenito said...

Prosecutors: Ponzi suspect tried telling wife to hide cash

Jan. 7, 2019 1:54 PM EST

BALTIMORE (AP) — Prosecutors say a man charged in a $364 million investment scheme planned to tell his wife to drink the "good wine," stash cash and hide and sell his valuables. The Baltimore Sun reports 53-year-old Kevin Merrill of Towson, Maryland, is accused of trying to show 30-year-old Amanda Merrill...

Ole Miss to return most of $400,000 given by Ponzi convict

Dec. 31, 2018 3:26 PM EST

JACKSON, Miss. (AP) — The University of Mississippi has agreed to return most of the $400,000 its athletic foundation was given by a businessman who pleaded guilty to a $100 million Ponzi scheme. The Clarion-Ledger reports that the federal receiver appointed to try to get back investors' money says the...

Miami billionaire, museum donor settles fraud complaint

Dec. 29, 2018 3:29 PM EST

MIAMI (AP) — A Miami biotech billionaire with his name on the city's science museum says he has reached an agreement with the Securities and Exchange Commission to settle a civil complaint of stock fraud. Phillip Frost and OPKO Health were charged in September in long-running fraudulent schemes that...

Investment fraud case in US expands to 4 women from Israel

Dec. 27, 2018 11:05 AM EST

GREENBELT, Md. (AP) — They followed a call script for reassuring investors: A broker boasted of winning up to 95 percent of his trades. Sales representatives promised a client she would be a millionaire within a year if she didn't withdraw her five-figure investment. "If you win, I win," the broker told...