Latest Securities fraud News

California men plead guilty in Florida to $1.3B fraud scam

Jul. 13, 2021 17:23 PM EDT

MIAMI (AP) — Two more California men have pleaded guilty in South Florida for their roles in a $1.3 billion real estate fraud scheme that stole money from thousands of investors nationwide. Dane Roseman, 38, and Ivan Acevedo, 44, both of Los Angeles, pleaded guilty...

Feds: Dark web operator sought to sell inside information

Jul. 11, 2021 09:32 AM EDT

NEW YORK (AP) — Federal authorities say they are seeking a fugitive who tried to create a marketplace in the dark spaces of the internet for those with an appetite for inside information on stocks. Manhattan U.S. Attorney Audrey Strauss said Apostolos Trovias, 30, of...

Fugitive extradited to Turkey to face Ponzi scheme charges

Jul. 04, 2021 03:28 AM EDT

ISTANBUL (AP) — A Turkish national on the run after allegedly embezzling money from thousands of people in a Ponzi scheme has been extradited to Turkey and detained. Mehmet Aydin, 30, is thought to have collected the equivalent of more than $131 million in Turkish lira...

Man pleads guilty in Ponzi scheme that defrauded athletes

Jun. 29, 2021 17:22 PM EDT

DENVER (AP) — A Colorado man has pleaded guilty to defrauding investors, including multiple professional athletes, of millions of dollars in a nearly decade-long Ponzi scheme. Tyler Tysdal, 50, of Lone Tree, faces up to eight years in prison and must pay more than $18...

Indictment: Tech firm official stole money, ran fraud scheme

Jun. 23, 2021 11:51 AM EDT

CAMDEN, N.J. (AP) — The chief operating officer of a Philadelphia-based technology startup company orchestrated a long-running securities offering fraud while simultaneously embezzling hundreds of thousands of dollars from the firm, according to federal prosecutors in New Jersey. ...

Assets recovered from large Ponzi scheme reach $722 million

Jun. 15, 2021 10:53 AM EDT

MINNEAPOLIS (AP) — A bankruptcy trustee's search to recover assets linked to one of the largest financial crimes in Minnesota's history has netted $722 million. Doug Kelley says his work to collect assets from Tom Petters' $1.9 billion Ponzi scheme is nearly done 13...

2 Florida men accused of defrauding investors

Jun. 13, 2021 16:31 PM EDT

MIAMI (AP) — The Securities and Exchange Commission has filed fraud charges against a Florida man investigators say misappropriated more than $1 million in investor funds for personal use. The SEC also says it caught Larry Brodman using money from newer investors to pay a portion of the...

EXPLAINER: Who are Americans on trial in Ghosn's escape

Jun. 12, 2021 21:20 PM EDT

TOKYO (AP) — Americans Michael Taylor and his son Peter Taylor go on trial in Tokyo on Monday on charges they helped Nissan's former chairman, Carlos Ghosn, skip bail and flee to Lebanon in December 2019. HOW DID THE TAYLORS END UP IN JAPAN? The...

Former Missouri CPA sentenced to prison for Ponzi scheme

Jun. 11, 2021 08:58 AM EDT

SPRINGFIELD, Mo. (AP) — A one-time certified public accountant in south-central Missouri has been sentenced to more than 15 years in federal prison for conducting a Ponzi scheme that swindled millions of dollars from dozens of victims. Douglas Richardson, 47, of...

George P. Bush running for attorney general in Texas

Jun. 02, 2021 21:54 PM EDT

AUSTIN, Texas (AP) — George P. Bush on Wednesday launched his next political move: a run for Texas attorney general in 2022 that puts the scion of a Republican dynasty against a GOP incumbent shadowed by securities fraud charges and an FBI investigation. Bush, who has...