Corrupt Investors | featured news

One investor turned herself into a financial detective to expose the fraud of a $32 million scheme that had people, including her own mother, targeting friends and family for bogus investment returns.

Prosecutors expect to charge Frank DiPascali Jr., a former Madoff lieutenant, with multiple counts of fraud and other criminal charges.

R. Allen Stanford, the Texas financier accused of directing a $7 billion Ponzi scheme, complained that his jail cell often lacks light and air conditioning.

For the past week, Stanford, who's in a cell in Conroe, Texas, with from eight to 10 other men, has endured heat and intermittent lack of power when outside temperatures reached 100 degrees Fahrenheit (38 Celsius) or more, his lawyer, Dick DeGuerin, said yesterday in a motion asking that his client be transferred to a downtown Houston jail.

Marc S. Dreier, a prominent New York lawyer, was sentenced on Monday in an elaborate scheme in which investors lost more than $400 million.

Sir Allen Stanford faced the possibility of a long detention, after US federal prosecutors filed papers opposing any move to grant the fallen financier freedom on bail pending his trial for wide-ranging fraud charges.

U.S. District Judge Denny Chin sentenced Bernard Madoff on Monday to 150 years in prison, the maximum sentence sought by prosecutors.

Billionaire R. Allen Stanford arrived at a federal courthouse  as he faces charges of fraud and conspiracy related to allegations that he swindled investors out of $7 billion.

Reserve Primary Fund founder Bruce Bent Sr. was among those charged with fraud on Tuesday by securities regulators for allegedly failing to tell investors about the fund's vulnerability to Lehman Brothers' bankruptcy.

More than $20 million from dozens of clients is unaccounted for in the aftermath of what police say was a murder-suicide by the attorney who invested the money, according to a source with direct knowledge of deceased lawyer William Parente's financial dealings.

Barrett Wissman is the first investment executive to be implicated in an investigation of corruption at the New York state pension fund.