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SEC slows on Dodd-Frank reforms

Less than halfway through the process of implementing the 2010 Dodd-Frank Act, the pace of rule-writing by the U.S. Securities and Exchange Commission has slowed by about half.  The agency’s five commissioners haven’t met once in the last four months to approve or propose regulations required under Dodd-Frank, designed to curb the kind of risky […]

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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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