Latest Securities fraud News

Maryland man pleads guilty in sprawling investment scam

May. 16, 2019 6:29 PM EDT

BALTIMORE (AP) — A bogus investment scheme that entrapped hundreds of individuals and corporate investors and might involve as much as a half-billion dollars has unraveled in guilty pleas for wire fraud and conspiracy from a Maryland man who prosecutors say amassed a fortune in luxury cars, costly wines...

Japanese man, son to be held before US trial in Ponzi case

May. 9, 2019 8:12 PM EDT

LAS VEGAS (AP) — A federal judge in Nevada reversed a magistrate's decision and ordered a father and son from Japan to remain jailed in U.S. custody pending trial on fraud charges in what prosecutors call a $1.5 billion international Ponzi scheme. Attorney Richard Wright, representing former MRI...

Japan father, son win release before US trial in Ponzi case

Apr. 24, 2019 10:32 PM EDT

LAS VEGAS (AP) — A father and son from Japan can be freed from federal custody to live with relatives in a rented Las Vegas apartment pending trial on fraud charges in what prosecutors call a $1.5 billion international Ponzi scheme, a judge decided Wednesday. U.S. Magistrate Judge Cam Ferenbach...

Japanese father, son appear in Las Vegas in $1.5B fraud case

Apr. 18, 2019 8:27 PM EDT

LAS VEGAS (AP) — Two former investment executives from Japan pleaded not guilty in Las Vegas on Thursday to criminal fraud charges in what prosecutors have called a $1.5 billion international Ponzi scheme. Junzo Suzuki, 70, and his son, Paul Suzuki, 40, arrived in custody in the U.S. on Wednesday, and...

APNewsBreak: Escaped Ponzi scammer possibly went to Brazil

Apr. 4, 2019 6:12 PM EDT

WASHINGTON (AP) — A man who masterminded a $100 million Ponzi scheme and escaped from a federal prison in California may have fled to South America and federal officials have named his boyfriend as a person of interest in the case, according to court records reviewed by The Associated Press on Thursday....

Justices reject new colleague's arguments in fraud case

Mar. 27, 2019 10:42 AM EDT

WASHINGTON (AP) — The Supreme Court is rejecting arguments made by Justice Brett Kavanaugh when he was an appeals court judge in a case involving securities fraud. The court's 6-2 ruling Wednesday affirms an appeals court decision against investment banker Francis Lorenzo over false and misleading...

NY federal judge sets April 4 hearing in Musk contempt case

Mar. 26, 2019 6:57 PM EDT

DETROIT (AP) — A federal judge in New York will hold oral arguments next week in the government's contempt-of-court case against Tesla CEO Elon Musk. Judge Alison Nathan scheduled the hearing for April 4. The U.S. Securities and Exchange Commission wants Nathan to find Musk in contempt for allegedly...