Federal regulators have discovered that hundreds of millions of dollars in customer money has gone missing from MF Global in recent days, prompting an investigation into the company’s operations as it filed for bankruptcy on Monday, according to several people briefed on the matter. The revelation of the missing money scuttled an 11th hour deal […]
A purported New Jersey real estate investor was charged in an indictment with leading a $200 million Ponzi scheme that initially targeted fellow Orthodox Jews. Eliyahu Weinstein, 36, was accused by a federal grand jury in Newark, New Jersey of using sham real estate deals to bilk investors — some of them while he was […]
On October 26, 2011, the Securities and Exchange Commission charged former McKinsey & Co. global head Rajat K. Gupta with insider trading for illegally tipping convicted hedge fund manager Raj Rajaratnam while serving on the boards of Goldman Sachs and Procter & Gamble (P&G). The SEC also filed new insider trading charges against Rajaratnam after […]
The Securities and Exchange Commission (SEC) today charged Citigroup Global Markets Inc. (Citigroup), the principal U.S. broker-dealer subsidiary of Citigroup Inc., with misleading investors about a $1 billion collateralized debt obligation (CDO) called Class V Funding III (Class V III). At a time when the U.S. housing market was showing signs of distress, Citigroup structured […]
Some of the investors swindled by Wall Street swindler Bernard Madoff will soon be receiving some money back. The trustee charged with recovering funds for customers of the jailed financier announced that $312 million will be distributed this week on claims relating to 1,230 accounts. Trustee Irving Picard has recovered about $8.7 billion from investors […]