Fraud, Trial | featured news

The man who conned his way into the cockpit of an US Airways flight in March pleaded guilty Wednesday in Philadelphia to one count of fraud in connection with an identification document.

Allen Stanford was found guilty of conspiracy and fraud charges by a federal jury on Tuesday for leading a $7 billion Ponzi scheme from his offshore bank in Antigua.

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

Arch swindler Bernard Madoff will not appeal the 150-year prison sentence he received for masterminding a global multibillion-dollar investment fraud, his main lawyer said on Thursday.

A federal judge on Tuesday ordered Texas financier Allen Stanford, accused of a $7 billion fraud, held without bail until trial.

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.

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.