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Financial Crimes

Ex-Mayor Wagered More Than $1 Billion In Decade-Long Gambling Spree

AP | Posted 04.16.2013 | Politics

BY ELLIOT SPAGAT, ASSOCIATED PRESS SAN DIEGO -- A former San Diego mayor and fast-food heiress acknowledged Thursday that she took $2.1 million f...

Matt Taibbi: HSBC Committed The 'Worst Behavior That Any Bank Can Possibly Be Guilty Of'

Posted 12.14.2012 | Business

Thinking of robbing a bank? Bad idea. You're more likely to get away with a crime working from the inside. That's Matt Taibbi's take anyway. In...

Hedge Fund Accused Of Weight Watchers Insider Trading

Reuters | Posted 02.06.2013 | Business

* US looking at possible insider trading in early 2011 * Weight Watchers shares doubled during the period under review ...

Apparently Allowing Money Laundering Could Cost You

Reuters | Posted 02.04.2013 | Business

By Carrick Mollenkamp and Brett Wolf NEW YORK/WASHINGTON, Dec 5 (Reuters) - HSBC Holdings Plc might pay a fine of $1.8 ...

Bankers Guilty Of Scamming U.S. Cities

Reuters | Posted 10.31.2012 | Business

* Part of U.S. probe of $3.7 trillion muni bond market * Fraud by ex-UBS employees spanned five years -prosecution * Def...

One Man's Alleged Scheme Caused An Entire Bank To Fail

AP | Posted 10.25.2012 | Business

NORFOLK, Va. — A southeast Virginia developer and restaurateur is facing up to 20 years in prison after pleading guilty to federal bank fraud ch...

Ex-Church Official Facing Prison Time For Embezzlement

AP | MARYCLAIRE DALE | Posted 10.24.2012 | Business

PHILADELPHIA -- A finance executive who linked her $900,000 embezzlement from the Philadelphia archdiocese to the church's sex-abuse scandal was sente...

Baseball Legend Settles Insider Trading Allegations

Reuters | Posted 08.17.2012 | Business

NEW YORK (Reuters) - The Securities and Exchange Commission on Friday announced insider trading charges against retired baseball player Eddie Murray a...

Disgraced CEO Says He's Not Guilty Of Lying To Regulators

Reuters | Tom Polansek and Ryan Schlader | Posted 08.17.2012 | Business

CEDAR RAPIDS, Iowa (Reuters) - Russell Wasendorf Sr., chief executive of failed futures brokerage Peregrine Financial Group, pleaded not guilty to lyi...

New Twist In Case Against Ex-Goldman Staffer Accused Of Stealing Code

Reuters | Posted 10.09.2012 | Business

NEW YORK, Aug 9 (Reuters) - A former Goldman Sachs Group Inc computer programmer who was cleared of federal charges in February faces new charges o...

Watchdog Scolded For Taking Brokers At Their Word Amid 20 Year Fraud

Reuters | Posted 09.17.2012 | Business

* NFA let firms verbally pledge to do better-2002 report * CFTC report called practice troubling * Report came during mi...

Disgraced CEO May Have Bought Private Jet, Wine Collection With Stolen Money

Reuters | Posted 09.17.2012 | Business

By Ann Saphir CHICAGO, July 18 (Reuters) - Peregrine Financial Group CEO Russell Wasendorf Sr., who last week confessed to bilking fu...

Illegal Conduct Is Critical to the Survival of the Securities Industry

Dan Solin | Posted 09.16.2012 | Business
Dan Solin

How ironic that the industry that wants us to trust it with our funds can't manage its own money and is rife with illegal conduct.

Disgraced CEO Says He Spent Most Of Embezzled Customer Money

Posted 07.17.2012 | Business

Most of Peregrine Financial Group's missing money is likely gone. CEO Russell Wasendorf Sr. allegedly spent a significant chunk of the embezzled $...

Banking Is a Criminal Industry Because Its Crimes Go Unpunished

Charles Ferguson | Posted 09.15.2012 | Business
Charles Ferguson

Over the past two decades, the financial services industry has become a pervasively unethical and highly criminal industry, with massive fraud tolerated or even encouraged by senior management. But how did that happen?

Why White Collar Criminals Belong On The Street

Bloomberg View | Susan Antilla | Posted 07.05.2012 | Business

Bloomberg View: Rajat Gupta, the former McKinsey & Co. chief and pal of imprisoned inside trader Raj Rajaratnam, has one goal after being convict...

Bernie Madoff's Brother Charged With Fraud

Reuters | Posted 08.29.2012 | Business

WASHINGTON, June 29 (Reuters) - The U.S. Securities and Exchange Commission charged Bernard Madoff's younger brother Peter Madoff on Friday with fra...

FBI Arrests Bernie Madoff's Brother

Reuters | Posted 08.29.2012 | Business

* Peter Madoff agreed to accept 10-year prison term * Pleads guilty to conspiracy, falsifying records * Peter Madoff say...

Catherine New

Should You Freak Out About A Stolen Credit Card Number?

HuffingtonPost.com | Catherine New | Posted 02.13.2014 | Money

There is some likelihood that your credit card number is for sale in a dark corner of the Internet. The selling price? As little as $3.50 per number. ...

FBI Arrests Research Firm Exec For Insider Trading

Reuters | Posted 08.26.2012 | Business

(Corrects to show in first two paragraphs Nguyen worked at research firm, not expert network firm) By Basil Katz NEW YO...

Lawyer Gets Record Sentence For Insider Trading Scheme

Reuters | Posted 08.04.2012 | Business

NEW YORK, June 4 (Reuters) - A lawyer whose inside information the government alleged fueled a 17-year-long insider trading scheme was sentenced on ...

What To Do When You're Getting Calls About Someone Else's Debt

Bankrate | Steve Bucci | Posted 02.13.2014 | Money

Dear Debt Adviser, I am a victim of identity theft. The person who stole my ID took out a payday loan and used a fake bank account number. I am now b...

Woman Reports Credit Card Fraud, Then Is Accused By Police

The Huffington Post | Harry Bradford | Posted 05.10.2012 | Business

Imagine calling the police to report a crime, only to have them turnaround and accuse you. That's what happened to Audrey Grisham of Bountiful, Ut...

Wall St. 'Bad Boy' To Judge: 'I'm Begging You. I'm Pleading With You'

AP | Posted 05.04.2012 | Business

NEW YORK -- A former investment manager known as Wall Street's "bad boy" was sentenced Thursday to 12 years in prison. Ross Mandell was sentenced by ...

Ex-Greek Minister Arrested For Money Laundering As Part Of Larger Crackdown

Reuters | Posted 06.11.2012 | Business

By Harry Papachristou ATHENS, April 11 (Reuters) - A former Greek minister was arrested on Wednesday on money laundering charges, in t...