The all-cash settlement, disclosed Wednesday night, resolves claims against Bear and several former executives including long-time chief executive James Cayne, his successor, Alan Schwartz, and former chairman Alan "Ace" Greenberg.
"You simply can't take your eye off the risk side," Stumpf said today at a New York investor conference, in response to a query about trading losses at JPMorgan, the biggest U.S. bank. "Just because something worked for a while doesn
Bulltick, Guerra, and former Quantek operations director Ralph Patino are charged along with Quantek in the SEC’s enforcement action. They agreed to pay more than $3.1 million in total disgorgement and penalties to settle the charges, and Guerra and
Both investments later failed. And when Clarke’s own financial problems prompted him to sell a stake in Oxford to a client, he fraudulently inflated the value of his firm by at least $1.5 million to make the client overpay by at least $112,000.
The operations led by liquidator Irving Picard, the New York attorney in charge of recovering the huge sums cheated by now-jailed Wall Street high-flyer Bernie Madoff are burning up the cash almost as fast as they can recover it, a new report on his websi
But thanks in part to a courageous whistleblower, former Brown & Williamson executive Jeffrey Wigand, Big Tobacco finally had its day of reckoning, and eventually agreed to an omnibus settlement of $206 billion – the largest settlement ever at t
The SEC alleges that since at least November 2011, Jason J Konior and his firms raised approximately USD11 million by selling investors limited partnership interests in Absolute Fund LP, an investment vehicle that Konior claimed had USD220 million in trad
The move, which allowed the bank to disguise the level of risk that the CIO was taking in its trading, could become a major focal point of investigations by the U.S. Securities and Exchange Commission and the FBI, for mer regulators said.
He was indicted in 2007 and accused of conspiring with officers at two companies, Xybernaut Corp and Ramp Corp, to commit a $55 million stock-fraud scheme.
The SEC alleges that Spangler, 57, who was Napfa chairman in 1998, funneled the money into these private ventures despite telling clients that he would invest primarily in publicly traded securities.