Laura Holt the former chief investment officer for Standford Financial Group was sentenced to three years in prison for obstructing a U.S. Securities and Exchange Commission probe of a $7 billion Ponzi scheme at the company. Pendergest Holt, 39, was sentenced today by U.S. District Judge Hittner in Houston. She was the third-highest- ranking executive in the financial […]
The U.S. Department of Justice says a Will County couple has been sentenced to federal prison for stealing more than $1 million through an investment scheme. The department says 68-year-old James Pilon was sentenced Wednesday to 53 months in prison after pleading guilty to fraud before going to trial. Fifty-nine-year-old Verna Pilon pleaded guilty to […]
On September 10, 2012, the Securities and Exchange Commission filed an enforcement action in federal court in Boston charging Massachusetts-based Bio Defense Corporation and others for their roles in a fraudulent offering of unregistered Bio Defense securities. The defendants are charged with defrauding investors through various misrepresentations and schemes while raising at least $26 million […]
The Securities and Exchange Commission today announced that New York-based investment advisory firm ICP Asset Management and its founder and president Thomas C. Priore have agreed to settle the agency’s charges that they defrauded several collateralized debt obligations (CDOs) they managed. ICP, Priore, and related entities have agreed to a final judgment ordering them to […]
Reliable news sources have reported that Behringer Harvard Strategic Opportunity Fund I and II will report catastrophic losses to investors this Friday. Behringer Harvard informed brokers last week of the fund problems and is preparing to tell investors. Launched in 2005, the Behringer Harvard Strategic Opportunity Fund I raised $65 million and invested in six […]