Bear Stearns Hedge Fund Managers Not Guilty of Fraud
Two former Bear Stearns hedge fund managers have been acquitted of lying to investors about the health of two investment accounts just as the epic U.S. financial downturn was gaining speed.
Continue →Trial of Former Bear Stearns Money Managers Goes to Jury
The fate of two former Bear Stearns hedge fund managers accused of fraud in the offering of subprime mortgage-backed securities at the onset of the nation’s financial crisis is now in the hands of a New York City jury.
Continue →A Drop in the Bucket: Madoff Victims Paid Just $534 Million
Only $534 million has been approved as payment to victims of convicted Ponzi schemer Bernard Madoff, who is serving life in prison after admitting he ripped off thousands of investors to the tune of about $65 billion, officials said.
Continue →Morgan Stanley Agrees to $500,000 Fine for Lying to Investors
Investment broker Morgan Stanley has agreed to pay $500,000 in fines for lying to customers at its Nashville office about financial relationships the brokerage had with other money management firms it recommended to clients.
Continue →Former NASDAQ Chairman Madoff Arrested for Massive Investment Fraud Scheme
A longtime Wall Street insider has been arrested on charges he was the mastermind of what federal investigators are calling the largest investment fraud scheme ever carried out by a single person. Bernard L. Madoff, 70, was charged in December 2008 with securities fraud in connection with a criminal operation that cost investors more than $50 billion, according to authorities. Madoff is the founder of Bernard L. Madoff Investment Securities LLC., a leading Wall Street securities firm, but the alleged …
Continue →Bad Investment Advice and Illegal, Unethical Actions by Stock Brokers Blamed for Investor Losses
Securities brokers, investment advisors, and other financial industry professionals who give bad investment advice or engage in illegal or unethical conduct in their dealings with clients cost investors millions of dollars each year. Brokers who invest their clients in overly risky or unsuitable investments or violate federal laws or industry ethical standards may face civil or criminal penalties. In many cases, defrauded investors are able to recover their financial losses by taking legal action against the broker or the brokerage …
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