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SEC charges Steven Hamilton with running Ponzi schemes

The Securities and Exchange Commission today announced it has charged Steven L. Hamilton and Verde Retirement LLC, Verde FX Nevada, LLC, Covenant Capital Partners with securities fraud for defrauding at least 23 investors out of $1.6 million in a series of Ponzi schemes. The SEC alleges from 2007 through February 2011, Hamilton solicited investors through […]

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Bail set for Oregon investment research analyst

Bail was set at $5 million Thursday for the president of an Oregon investment research firm whose obscenity-laced phone calls to prosecutors and FBI agents was described as disgraceful by the judge who will preside over his securities fraud case. U.S. District Judge Deborah A. Batts said the bail for John Kinnucan can be secured […]

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SEC Charges advisor Brenda Eschbach

The U.S. Securities and Exchange Commission announced today that on February 14, 2012, it filed a civil injunctive action in the U.S. District Court for the Central District of California charging Brenda A. Eschbach of Tustin, California with securities fraud, investment advisory fraud, and acting as an unregistered broker-dealer. In its complaint, the Commission alleged […]

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Citigroup to pay $158 million in mortgage fraud settlement

Citigroup Inc has agreed to pay $158.3 million to settle U.S. civil claims that it defrauded the government into insuring thousands of risky home loans made by its CitiMortgage unit.  Wednesday’s settlement resolves claims under the federal False Claims Act against the third-largest U.S. bank, and arose from a “whistleblower” lawsuit brought by Sherry Hunt, […]

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B of A receives subpoenas over CLO sales

Massachusetts’ securities regulator on Friday subpoenaed Bank of America Corp. in connection with its involvement in two loan securities that resulted in $150 million in losses for investors. William Galvin, the secretary of the commonwealth, is examining whether Bank of America knowingly overvalued the assets in the portfolios in order to get the loans off its […]

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