The U.S. Supreme Court reinforced the Securities and Exchange Commission’s powers, upholding sanctions against an investment banker found to have duped investors about a startup company’s financial condition. The justices, voting 6-2, said Francis V. Lorenzo, who worked at Charles …
U.S. Supreme Court justices on Monday appeared reluctant to further limit the scope of who can be held liable for violating laws that protect investors from securities fraud as they weighed an appeal by a New York investment banker who …
A federal jury in Brooklyn, New York on Friday convicted two men for their roles in an international scheme to make millions of dollars by illegally trading on corporate press releases that were stolen by computer hackers before they became …
The U.S. Supreme Court on Monday agreed to hear an appeal by a New York investment banker banned from the industry by the Securities and Exchange Commission in a case that could limit the scope of those who can be …
An Albany insurance broker has been sentenced to nine years in prison for a $1 million securities fraud scheme. Lawrence D. Rosenbaum previously pleaded guilty to charges including grand larceny and securities fraud. He also admitted failing to file state …
Andrew Fastow, former chief financial officer (CFO) of Enron Corp., a now-defunct energy trading company swept up in a massive fraud scandal in the early 2000s, warned a room full of directors and officers (D&O) underwriters that some companies today …
The U.S. Supreme Court let stand a major insider-trading ruling that threatens at least 10 convictions and creates what the Obama administration calls a road map for securities fraud. Rejecting an administration appeal without comment, the justices refused to consider …
When New York Attorney General Eric Schneiderman gave up a claim for damages against former AIG chief Hank Greenberg, he also likely neutralized a long-awaited challenge to his office’s power. New York’s highest court is scheduled to hear arguments later …
U.S. securities regulators charged a New Jersey-based consultant on Tuesday with defrauding investors in the China-based companies he helped make public through a backdoor method known as a “reverse merger.” The Securities and Exchange Commission charges against Huakang “David” Zhou …
A New York appeals court on Tuesday gave former American International Group Inc. Chief Executive Maurice “Hank” Greenberg a partial victory in the state’s fraud lawsuit against him over two suspect reinsurance transactions, but cleared the way for the case …
