Recent Investor Fraud and Ponzi Scheme News
Och-Ziff Spread Lehman Rumors? | ||
A Manhattan bankruptcy court is alleging that Och-Ziff Capital Management spread misleading rumors about Lehman Brothers in the months leading up its... | ||
SEC Uncovers Accountants’ Pipeline Ponzi Scheme | ||
The SEC has charged Laurence M. Brown and Ronald Mangini, both certified public accountants, with fraud after uncovering their scam to sell fake securities... | ||
Penny Stock Company sues author Randall Lane on alleged Lenny Dykstra stock pump report | ||
Former Mets star Lenny Dykstra and a small Southern California publicly traded company have been wrung through the media gambit this week when former... | ||
Paramount Partners’ John L. Lawton seeks to withdraw guilty pleas | ||
Former hedge fund manager of Paramount Partners LP John W. Lawton pled guilty to mail fraud and falsifying documents in 2009. According to the Twin Cities... | ||
Ponzi Scheme misappropriated $105 million from 400 investors | ||
The Securities and Exchange Commission has charged Daniel Spitzer with the perpetration of a $105 million Ponzi scheme and has since obtained a court... | ||
$300 Million Ponzi Scheme ensnares investors with Gold Mining Scam | ||
The SEC has charged Milowe Allen Brost, Gary Allen Sorenson and four other men with designing and perpetrating an international Ponzi scheme that misled... | ||
Luis Felipe Perez’s $40 Million Ponzi Scheme uncovered | ||
The Securities and Exchange Commission has charged Luis Felipe Perez with orchestrating and conducting a $40 million Ponzi scheme that targeted the Hispanic... | ||
Pequot Capital and Art Samberg pay $28 million to settle Insider Trading Charges with SEC | ||
Pequot Capital Management and its CEO Art Samberg have reached a settlement agreement with the Securities and Exchange Commission. | ||
Pershing Square’s Bill Ackman Proposes Public Database to Prevent Fraud | ||
Pershing Square Capital Management founder and managing partner Bill Ackman said earlier this week that U.S. securities regulators should develop a public... | ||
Lawyers for Galleon’s Raj Rajaratnam Fighting Wiretaps | ||
Lawyers for Galleon Group founder and portfolio manager Raj Rajaratnam are arguing that key wiretap evidence in the insider trading case against Rajaratnam... | ||
Feds Charge SpongeTech CEO with Obstruction of Justice in Pump and Dump Stock Investigation | ||
Looks like our local penny stock scammer is in a world of trouble because it’s not just the SEC who’s charged him for securities fraud today but he’s... | ||
SEC halts Albany-based McGinn, Smith & Co’s Fraudulent Scheme | ||
The SEC has filed an emergency enforcement action against Albany-based firm McGinn, Smith & Co., Inc., its co-owners Timothy M. McGinn and David L. Smith,... | ||
Gryphon’s Investment Research Scam halted after fooling investors out of $17.5 million | ||
The SEC has filed charges against Gryphon Holdings, Inc., its owner Kenneth E. Marsh and four associates with the operation of an Internet-based scam... | ||
Miami Madoff Stopped: Businessman Charged with $900 Million Ponzi Scheme | ||
The SEC charged Nevin K. Shapiro, the president and founder of Capitol Investments USA, Inc. and a prominent businessman in Miami Beach, this week with... | ||
SEC charges Enrique F. Villalba, Jr. of Ohio for $39 million Ponzi Scheme | ||
The SEC has charged investment adviser Enrique F. Villalba, Jr. with fraud after he used Money Market Alternative LP, his former investment advisory business,... | ||
Gartmore Investment Management Suspends Hedge Fund Manager in Light of FSA Investigations | ||
U.K. companies are on alert now as the Financial Services Authority investigates insider trading. Last week, Gartmore Investment Management suspended... | ||
Appaloosa Management and Carlson Capital under SEC Scrutiny | ||
The SEC is currently conducting legal inquiries into hedge funds like David Tepper’s Appaloosa Management LP and Clint Carlson’s Carlson Capital LP.... | ||
Beverly Hills’ Michael McCready sentenced to 9 years for Ponzi Scheme | ||
Late last week, CNN reported that investment swindler Michael McCready was sentenced to 9 years in prison by US District Judge George King. The Beverly... | ||
Plainfield Asset Management forced out of Greenwich Offices - Will Max Holmes survive? | ||
It looks like Max Holmes' Greenwich-based Plainfield Asset Management is heading into ruins. Today, Kaja Whitehouse at the New York Post broke news that... | ||
Moore Capital Management Trader Arrested on Insider Trading Allegations | ||
Julian Rifat, a trader at Moore Capital Management, was arrested on his 41st birthday and is accused of front-running block trades, according to Bloomberg.... | ||
Fraud and Ponzi Schemes
The Fraud and Ponzi Scheme news section, much like HedgeTracker's infamous Hall of Fraud list, covers the latest investor fraud and Ponzi scheme allegations that have been uncovered in the financial industry. While major news outlets have exhaustedly covered the Bernie Madoff, R. Allen Stanford, Marc Dreier, Samuel Israel, and Tom Petters scandals, they have afforded little coverage to other significant fraud allegations that have occurred, such as the ones involving Arthur Nadel and Scoop Management, Moises Pacheco and Advanced Money Management, James Nicholson and Westgate Capital, Magnus Peterson and Weavering Capital, Frank Bluestein and E-M Management, as well as Rod Cameron Stringer and the RCS Hedge Fund.
The Hedge Fund Fraud news section provides up-to-date information on the most recent charges, Ponzi schemes, SEC filings, allegations, and convictions of fraud, with information on the defendants, victims, funds, companies and investors all in one place.
Hall of Fraud Top 10
Firm | Assets* |
Madoff Investments LLC | 64,800 |
Stanford Financial Group | 8,000 |
Petters Group Worldwide | 3,500 |
Frankel International & Frankel Chemical | 1,200 |
Satyam Computer Services | 1,000 |
Westgate Capital Management, LLC | 900 |
Capitol Investments USA, Inc | 900 |
Dreier LLP | 700 |
WG Trading Co | 554 |
Weavering Capital | 500 |
*Estimate of alleged Fraud/Investor Losses ($MM) | |
