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Assets of advisor Brian Callahan frozen by SEC

The SEC has frozen the assets of a New York investment advisor accused of defrauding investors in five offshore funds from whom he raised more than $74 million.  The SEC also alleges in a suit filed in Islip, N.Y., that the advisor used some of those funds, raised since 2005, to buy a $3.35 million […]

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R. Allen Stanford found guilty by jury

Texas tycoon R. Allen Stanford, whose financial empire once spanned the Americas, was convicted Tuesday on all but one of the 14 counts he faced for allegedly bilking investors out of more than $7 billion in massive Ponzi schemes he operated for 20 years.  Jurors reached their verdicts against Stanford during their fourth day of […]

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Scam artist Bruce Friedman dies in French prison

Former Sherman Oaks money manager Bruce Fred Friedman has died in French custody while awaiting extradition to Los Angeles on charges related to an alleged $228-million investment scam. An official at the US Embassy in Paris confirmed Friedman’s death Monday but declined to say when or how he died. Friedman, 62, had been in a […]

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Business executive pleads, faces 5 years

Jon Latorella, 48, of Marblehead, the former chief executive officer of LocatePlus, was charged along with former LocatePlus Chief Financial Officer James Fields of Brookline with setting up sham corporations that they then claimed to be customers of their business, a Cummings Center-based information broker. Federal prosecutors say the fictitious companies, including one that was […]

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Brookstreet CEO fined $10 million for securities fraud

The Securities and Exchange  Commission today announced that a federal judge has ordered the former CEO of  Brookstreet Securities Corp. to pay a maximum $10 million penalty in a  securities fraud case related to the financial crisis. The SEC litigated the case beginning in December 2009, when the agency  charged Stanley C. Brooks and Brookstreet […]

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