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Stories 1 - 20 |
SEC: Musk Lied
Nov 22, 2023 11:45 AM CST
Lawmakers to SEC: Musk Lied About Neuralink
They say his statement 'no monkey has died as a result of a Neuralink implant' is false
- Elon Musk could be facing yet another SEC securities fraud investigation, this time tied to his brain implant company Neuralink. Four Democratic lawmakers wrote to the SEC on Tuesday, claiming they've seen evidence, including veterinarian records, showing animals deaths occurred that "relate directly to the safety and marketability...
Fugitive 'Cryptocrash' Boss
Is Arrested in Montenegro
Mar 24, 2023 5:46 AM CDT
Fugitive 'Cryptocrash' Boss Is Arrested in Montenegro
Do Kwon of Terraform Labs faces charges in 2 countries over $42B crash
- A cryptocurrency boss facing fraud charges in the US and South Korea has been arrested far away from both in Montenegro. Terraform Labs founder Do Kwon, charged in connection with the $40 billion collapse of the firm's cryptocurrency, has been wanted in South Korea since September. He and another...
D-List Actor Pleads Guilty
in $690M Ponzi Scheme
IN CASE YOU MISSED IT
Oct 9, 2021 4:50 PM CDT
D-List Actor Pleads Guilty in $690M Ponzi Scheme
Zachary Horwitz faces 20 years for scheme that ensnared his college buddies
An actor accused in a $690 million Ponzi scheme will face up to 20 years in prison after pleading guilty to one count of securities fraud on Monday. Zachary Horwitz of 1inMM Capital allegedly used fake licensing agreements to fool investors, including his college buddies, into putting up money...
Madoff Wants to Make
'Dying Plea' for Release
Mar 13, 2020 12:10 AM CDT
Madoff Wants to Make 'Dying Plea' for Release
Lawyer says fraudster wants to personally tell judge he is remorseful
- Bernie Madoff, who disclosed last month that he is dying of kidney disease , wants to make a "final dying, personal plea" for freedom, the fraudster's lawyer said Thursday in a request for a new hearing. Attorney Brandon Sample said it would be "eminently reasonable" to schedule a...
A Month After Prison Release,
Ex-WorldCom CEO Is Dead
Feb 3, 2020 7:38 AM CST
A Month After Prison Release, Ex-WorldCom CEO Is Dead
Bernard Ebbers, the 'telephone equivalent to Bill Gates,' had been jailed for securities fraud
- The former chief of WorldCom, convicted in one of the largest corporate accounting scandals in US history, died just over a month after his early release from prison. Bernard Ebbers was 78, the AP reports. The Canadian-born former telecommunications executive died Sunday in Brookhaven, Miss., surrounded by his family, per...
Call Made From Picnic Led to
Charges for Rep. Chris Collins
Aug 8, 2018 1:57 PM CDT
Call Made From Picnic Led to Charges for Rep. Chris Collins
Indictment alleges he read an email about a failed drug trial, alerted his son
- GOP Rep. Chris Collins surrendered to federal agents in New York on Wednesday to face insider trading charges. CNBC quotes the Justice Department as saying the indictment is tied to "securities of Innate Immunotherapeutics ... an Australian biotechnology company on whose board of directors Christopher Collins served." The allegation...
as Jury Starts
Jul 31, 2017 7:50 AM CDT
Trumpian Words From Shkreli as Jury Starts Deliberating
'Drain the swamp. Drain the sewer that is the DOJ. MAGA,' he wrote on Facebook
- He's been painted as both "brilliant beyond words" and a conman during his securities fraud trial—and on Monday, the jury considering Martin Shkreli's case will start deliberations on whether "inmate" will be added to that list of descriptors, reports the
. Closing arguments took place...
At Own Trial, 'Biggest Mouth'
in Pharma Finally Closes
Jul 25, 2017 5:52 AM CDT
At Own Trial, 'Biggest Mouth' in Pharma Finally Closes
Martin Shkreli says he decided against 'risky' move, won't testify
- Earlier this month, prosecutors wanted Martin Shkreli to stop the "campaign of disruption" they say he'd been leading during his securities fraud trial, and they were able to get a judge to order him to stop blabbing about his case publicly. Now it looks like those sealed lips...
Alleged Insider Trader Maybe
Did Too Much Googling
Jul 14, 2017 8:31 AM CDT
Alleged Insider Trader Maybe Did Too Much Googling
Didn't cover up online search history for 'insider trading' too well, prosecutors say
- If you don't want the SEC to pick up on the fact that you've carried out an unusual trade, you probably shouldn't Google "how sec detect unusual trade," or "insider trading in an international account." Those are the phrases that federal prosecutors allege...
Martin Shkreli to Shut Up
Jul 5, 2017 2:02 AM CDT
Prosecutors Want Martin Shkreli to Shut Up
They accuse him of trying to disrupt trial
- Martin Shkreli is "making a spectacle of himself" and his securities fraud trial and he needs to be told to be quiet, prosecutors say. Prosecutors have asked a judge for a gag order banning the "Pharma Bro" from talking about the case publicly and discussing it on social...
Lady Gaga Cited Not Once, but
Twice in Shkreli Trial Opening
Jun 29, 2017 7:19 AM CDT
Lady Gaga Cited Not Once, but Twice in Shkreli Trial Opening
Shkreli was simply 'born this way,' defense attorney argues about eccentric client
- Is Martin Shkreli "strange" and "weird," with a "dysfunctional personality"? Yes on all counts, per Benjamin Brafman, the ex-pharma CEO's lawyer, who offered what the
New York Times
calls a "captivating" opening statement at Shkreli's securities fraud trial Wednesday in New York...
'Pharma Bro' Martin Shkreli
Is Going on Trial
Jun 26, 2017 4:51 AM CDT
'Pharma Bro' Martin Shkreli Is Going on Trial
His lawyers claim he's penniless
- Martin Shkreli's federal trial on securities fraud charges begins this week—and since the former pharmaceutical boss has been dubbed "the most hated man in America," there won't be any shortage of cheerleaders for the prosecution. Shkreli, 34, is accused of illegally taking stock from Retrophin,...
2 Charged in
Tied to Adele,
Jan 30, 2017 5:03 AM CST
2 Charged in Ponzi Schemes Tied to Adele,
Joseph Meli, Steven Simmons joked about their $81M 'shell game': FBI
- Two men were charged Friday with roles in Ponzi schemes that cheated wealthy people, including some who believed they were investing in ticket businesses for popular shows like an Adele concert and Broadway's
Joseph Meli, 42, of Manhattan, and Steven Simmons, 48, of Wilton, Conn., were arrested on...
Expedia Worker Snooped on
Execs' Emails, Made $330K
Dec 6, 2016 1:00 AM CST
Expedia Worker Snooped on Execs' Emails, Made $330K
Jonathan Ly, 28, pleaded guilty Monday to securities fraud
- A former IT worker at Expedia pleaded guilty Monday to securities fraud after authorities said he used his access to the computers of top executives to rummage through their email, then made lucrative, illegal stock trades based on the inside information he discovered. Prosecutors said Jonathan Ly, 28, made more...
Gets 4 Years for $46M Scam
Nov 5, 2016 5:26 AM CDT
Gambling-Addicted Banker Gets 4 Years for $46M Scam
Most of his victims were family and friends
- A former executive at a New York investment bank who admitted defrauding investors of more than $38 million was sentenced to four years in prison Friday by a judge who cited his gambling addiction as reason for leniency. "I chose gambling over everything," Andrew Caspersen, 40, told US...
Oct 11, 2016 10:03 AM CDT
Investor Sues: Theranos 'Knowingly and Repeatedly Lied'
Partner Fund Management wants its $96M returned
- Just when you thought things couldn't get worse for Theranos, this: One of its major investors has sued the company and its founder, Elizabeth Holmes, in an effort to get back its $96 million investment and then some. Partner Fund Management argues "the defendants engaged in securities fraud...
King of 'Insane'
Sep 12, 2016 8:20 AM CDT
'Crazy Eddie,' King of 'Insane' Prices, Dead at 68
Eddie Antar rose to success with his electronics retail chain, ended up in prison
- If you came of age in the New York tri-state area in the '70s and '80s, it was hard to escape the "Crazy Eddie" ads that touted one of the region's most well-known electronics retailers. But there won't be any more Christmases in August for...
Fugitive Caught in Thailand
Jul 29, 2016 9:55 AM CDT
Fugitive Caught in Thailand
Lawyer nabbed by immigration cops who noticed something ... off
- A Japanese lawyer who police say altered his appearance through plastic surgery to escape arrest for an alleged stock share manipulation scheme more than a decade ago has been captured, Thai police said Friday. Thailand's Immigration Bureau announced that Yasuo Tsubaki, sought by Japanese authorities for securities fraud amounting...
Pharma Bad Boy
on Fraud Charges
Dec 17, 2015 7:08 AM CST
FBI Busts Pharma Bad Boy on Fraud Charges
Martin Shkreli accused of using company stock to pay other debts
- Martin Shkreli may have to dump some of his recent musical acquisitions to pay his own legal fees: The 32-year-old pharmaceutical pariah who unapologetically jacked the price of a life-saving drug was arrested by the FBI Thursday on charges of federal securities fraud, Reuters reports. Shkreli is accused of pilfering...
Nov 7, 2014 5:15 AM CST
Profiles Chase Whistleblower
The article calls her the bank's 'worst nightmare'
- Matt Taibbi, an American freelance journalist the
New York Times
describes as having an "avid following," is known for writing critically of Wall Street. Some may recall his 2010
feature "The Great American Bubble Machine," in which he describes Goldman Sachs as "a...
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