stock fraud

4 Stories

Stock Fraudster Sentenced to... Play Poker?

Judge orders gambling addict to play to pay off his victims

(Newser) - A New Mexico stockbroker who confessed to stealing money from his clients so he could gamble has been ordered to… continue gambling. Samuel McMaster allegedly stole $400,000 from his elderly victims, but a judge has allowed him to go free, provided he can win it all back in poker... More »

Conrad Black Appeals Prison Sentence

Jailed newspaper tycoon says evidence too flimsy to convict

(Newser) - Lawyers for former newspaper mogul Conrad Black appealed his 6½-year prison term for fraud today, arguing that the jury received bad instructions and that the evidence failed to prove he had knowledge of shady dealings, reports Canada's National Post. Black was convicted of bilking about $6 million from Hollinger... More »

System Vulnerable to 'Genius' Rogue Traders

Criminal financial wizards can run amok, experts warn

(Newser) - Banks hoping to weed out potential rogue traders need to realize that they can strike anywhere, any time—and that their best traders could be the likeliest suspects, Reuters warns. "All of the things that make a great trader make a great fraudster, too," noted a consultant. Experts... More »

Feds Indict 'Spam King'

Michigan man, 10 others face dozens of charges in stock fraud scheme

(Newser) - A federal grand jury has indicted a Michigan man and 10 others for spamming and stock fraud, Reuters reports. Alan Ralsky and his associates face 41 counts related to using spam to promote little-traded Chinese stocks, artificially driving up prices, and then making a killing by selling the stock. Ralsky... More »

4 Stories