defrauding customers

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Feds Sue 'Psychic' Over $6M Stock Scam

SEC: man preyed on 'gullible' investors

(Newser) - The SEC is suing a self-proclaimed stock 'psychic' for allegedly bilking $6 million from gullible investors. Regulators say Sean David Morton, who runs the Delphi Investment Group out of California, falsely claimed to have a record of predicting the market. He funneled investor money into foreign currency trading firms and... More »

Trust Fund Teens TP Madoff Mansion

Pranksters blast accused swindler for wiping out future fortunes

(Newser) - Pranksters whose future fortunes were battered by accused swindler Bernard Madofff festooned his tony Palm Beach digs with toilet paper over the weekend, reports the Palm Beach Post. Teenage boys called the newspaper to claim responsibility for the guerrilla tactic and blasted Madoff for wiping out their trust funds. The... More »

Firm Behind Richardson Flap Has Pay-to-Play History

Financial adviser is under investigation, mired in lawsuits

(Newser) - CDR, the Beverly Hills financial firm at the center of the pay-for-play scandal investigation that's snagged New Mexico Gov. Bill Richardson, is no stranger to the inside of a courtroom. It's being targeted by the SEC, the IRS, and the Department of Justice, the Los Angeles Times reports. The company,... More »

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