Anthony Vassallo, 33, of Folsom, California, pleaded guilty today for his role in a massive investment fraud scheme that brought in more than $80 million from more than 300 investors, U.S. Attorney Benjamin B. Wagner, FBI Special Agent in Charge Herbert M. Brown, and Internal Revenue Service (IRS) Criminal Investigation (CI) Special Agent in Charge […]
Federal officials say they’ve charged five former real estate executives in a $300 million Ponzi scheme, the Associated Press is reporting. According to the AP, the Securities and Exchange Commission filed civil charges in Miami federal court Wednesday against former Cay Club president and CEO Fred Davis Clark Jr., chief accounting officer David W. Schwarz, […]
Last year, at least 450 new structured products were linked to Apple, according to SLCG. Three-quarters of them were issued when the stock was at least $550. The shares closed Friday at $439.88, down $60 for the week. As a result, the value of Apple-linked products suffered a one-week drop of more than 15%, estimates […]
More than $241 million of structured notes tied to Apple face losses after a 27 percent drop in the stock of the world’s most valuable company eroded built-in cushions that protect investors. Banks issued 76 U.S. notes linked to Apple stock during the seven weeks starting Aug. 20 when the company was valued at $650 a […]
Signaling the possibility of an aggressive new strategy for regulating Wall Street, President Obama today nominated Mary Jo White, a former U.S. Attorney for the Southern District of New York and high-profile prosecutor, to head up the Securities and Exchange Commission. Mr. Obama, in remarks announcing the nomination this afternoon, lauded White for her career […]