Search Results for: fraud
Jury acquits ex-manager in insider-trading case
July 9th, 2014
The brother of an imprisoned ex-billionaire hedge fund founder was acquitted of conspiracy Wednesday, ending a string of insider trading convictions won by Manhattan federal prosecutors. A jury returned the verdict Tuesday at the insider trading trial of Rengan ...
Ex-Carter’s executives, NY fund manager get prison for insider trading
July 9th, 2014
Two former executives at Carter’s Inc (CRI.N) and a New York hedge fund manager received prison sentences on Tuesday for engaging in an insider trading conspiracy involving the children’s clothing company’s stock. Eric Martin, a former vice president of ...
Judge Denies Madoff Trustee Recovery of Foreign Transfers
July 8th, 2014
Transfers made abroad between a foreign transferor and a foreign transferee cannot be recovered by the trustee administering the estate of Bernard L. Madoff Investment Securities, a federal judge has ruled. Dealing a win to foreign banks and investment ...
U.K. Stocks, Power-Tax Rebates, Bonus Remarks: Compliance
July 7th, 2014
Britain’s markets regulator should investigate whether the closing prices of stocks are being manipulated, according to lawmakers. Conservative Mark Garnier pressed for the investigation by the Financial Conduct Authority at a July 3 hearing of the Treasury Committee in ...
WiFi provider Gowex goes bankrupt and admits falsifying accounts
July 7th, 2014
One of the brightest stars of the Madrid stock market came crashing down to earth on Sunday, after WiFi provider Gowex was forced to declare bankruptcy and admit that its chief executive and founder had falsified the company’s accounts ...
Regulator says EU Banks Must Shun Bitcoin Until Rules in Place
July 4th, 2014
European Union banks should shun virtual currencies such as Bitcoin until a system of rules to prevent abuses are put in place, according to the bloc’s top banking regulator. The European Banking Authority called on the EU to develop ...
FCA warning against clone firm
July 4th, 2014
The Financial Conduct Authority (FCA), the British financial regulatory authority, has issued a warning informing the investors that “BPEFX / BPE” (http://bpefx.com/en/index.asp) is a clone firm, thus, is not permitted to provide any financial services or products. Furthermore, FCA points ...
American Express ‘Take It or Leave It’ Rule Goes on Trial
July 3rd, 2014
American Express Co. (AXP) drives a hard bargain with businesses that want to attract its affluent cardholders: treat the card like any other form of payment despite higher processing costs if you want those customers. The lender prohibits businesses ...
Singapore Says More Overseas Criminals Seek Bank Accounts
July 2nd, 2014
Singapore prosecuted a record number of money laundering cases and seized more than S$115 million ($92 million) of suspected criminal proceeds in 2013 as more overseas offenders seek out bank accounts in the city. “Singapore’s openness as an international ...
After BNP, U.S. targets on more banks
July 1st, 2014
BNP Paribas’ guilty plea and agreement to pay nearly $9 billion for violating U.S. sanctions is part of a larger U.S. Justice Department shift in strategy that is expected to snare more major banks and other firms across the ...
