The U.S. Securities and Exchange Commission, criticized for missing R. Allen Stanford’s alleged $7 billion fraud, said it will decide “in the near future” whether victims should collect federal brokerage insurance. Read San Francisco Chronicle article [...]
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Opportunity for Investors to Speak Out to Take Place in New York City. The bankruptcy trustee is using dubious methods based on flimsy evidence.. The U.S. Securities and Exchange Commission’s delay in cracking down on R. Allen Stanford’s alleged Ponzi scheme isn’t excused by a law that protects regulators’ discretionary decisions, Stanford’s investors claim. Read Bloomberg report [...] Allen Stanford, the Texas financier accused of running a $7 billion Ponzi scheme, has been scheduled to go to trial this September, according to court records. Read Reuters report [...] Two businessmen who operated a defunct northwest suburban real estate investment company were charged Tuesday with engaging in a fraud scheme that took more than $16 million from about 300 investors. Read Chicago SunTimes article [...] Hedge fund billionaire Raj Rajaratnam was convicted on all 14 counts of fraud and conspiracy Wednesday in the biggest insider trading case in a generation. Read Washington Post article [...] UniCredit SpA (UCG), a defendant in a $58.8 billion lawsuit by the trustee liquidating Bernard L. Madoff’s firm, asked a judge to consider whether the racketeering law invoked by the trustee applies outside the U.S. Read Bloomberg report [...] Bernard L. Madoff was no evil genius. He was a pretty bad liar every step of the way – and the investigators knew it. Read CNNMoney Blog [...] The trustee seeking money on behalf of Bernard Madoff’s victims announced on Monday a $1-billion settlement with liquidators for three large “feeder funds,” boosting payouts to the swindler’s former customers. Read Los Angeles Times report [...] |
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