Andrew Caspersen Pleads Guilty To $40M Fraud
Andrew Caspersen, an ex-Wall Street executive and descendant of a wealthy family, pleaded guilty this week to federal charges that he defrauded friends, family, and a hedge fund billionaire’s foundation out of almost $40 million. He pleaded guilty to one count of securities fraud and one count of wire fraud, each of which carries a […]
Adviser To Plead Guilty To $21M Ponzi Scheme
Patrick E. Churchville, an investment adviser from Rhode Island, is expected to plead guilty to criminal charges for running a $21 million Ponzi scheme, according to a statement made by the U.S. Attorney’s Office. In addition, Churchville used $2.5 million of his clients’ cash to buy a house, and he failed to pay over $820,000 […]
FDA Official And Hedge Fund Managers Charged In Securities Scheme
According to federal prosecutors, two hedge fund managers–Sanjay Valvani and Christopher Plaford– conspired with a former U.S. Food and Drug Administration official–George Johnston, who had access to insider information on the fate of generic drug candidates–to profit by committing securities fraud. While employed as Visium Asset Management hedge fund managers, Valvani and Plaford executed stock […]
FL Broker Charged With $131M Scam
Pranav Patel, a stockbroker from Tamarac, Florida, has been charged in an alleged $131 million stock manipulation scam after investigations by a task force set up for President Barack Obama’s war on financial crimes, according to federal officials. Patel and eight others engaged in the multi-state scam “through a dizzying round of unauthorized trades” to […]
Banker Who Faked His Own Death Barred From Securities Industry
The SEC has barred from the securities industry Aubrey Lee Price, an imprisoned former Georgia investment adviser who pleaded guilty in 2014 to a massive fraud that helped bring down his troubled bank and cheated his clients out of millions of dollars. The penalty is inconsequential as Price is expected to spend three decades in […]
Texas Man Convicted Of Securities Fraud
A federal jury on Monday convicted a Rockwall, Texas man of securities fraud arising from an investment scheme he ran, according to U.S. Attorney John Parker of the Northern District of Texas. Mark Lee Cleaton was found guilty on four counts of wire fraud and is facing a maximum penalty of twenty years in prison […]
Financial Adviser Sentenced For Defrauding Disabled Woman
Jodene Beaver has spent the majority of her 56 years dealing with physical and mental impairments. She is able to live on her own with the help of her family who cares for her and work as a grocery-store greeter. Two months after her father died, Beaver placed her trust in Jason Wade Cox, a […]
Nine Charged In $30M Computer Hacking, Securities Fraud
Nine alleged computer hackers were charged today for their roles in a securities fraud scheme that earned $30 million in illicit gains by stealing and trading on corporate earnings data procured from newswire services before they were published. The charges, which were brought by U.S. Attorney’s Offices for the District of New Jersey and the […]
Former Georgia Attorney Pleads Guilty To Securities Violations
Hendrickx Toussaint, a former attorney from Atlanta, Georgia, has pleaded guilty in Madison County, Alabama Circuit Court to one count of Conspiracy to Commit Securities Fraud by employing a device, scheme or artifice to defraud, a Class C felony punishable by up to ten years and no less than a year and a day in […]