Two years after being charged with fraud by Massachusetts securities regulators, a former Belmont resident and prominent Shaklee distributor was arrested and charged with operating a Ponzi scheme that duped over a dozen investors out of at least $6 million... Read More
Just weeks after a Florida federal judge dismissed the Securities and Exchange Commission's civil enforcement action accusing five executives of a failed real estate company of operating a $300 million Ponzi scheme, the Department of. Justice announced... Read More
A Utah man once known as the “Bamboo Cyclist” was sentenced to serve a four-year prison term for masterminding a Ponzi scheme that duped victims out of nearly $3 million. James Ronald Donahoo, II, of Pleasant Grove, Utah, received the sentence... Read More
The demise of Taylor, Bean & Whitaker, as well as Colonial Bank, continues to spawn guilty pleas. This time Raymond Bowman, the former president of Taylor Bean, pleaded guilty to charges of conspiring to commit bank, wire and securities fraud and... Read More
NEW HAVEN, Conn. — (Mealey’s) UBS Securities Japan Co. Ltd. will pay a $100 million fine as part of a plea agreement with the U.S. government to end a criminal suit alleging that UBS Japan illegally manipulated the London Interbank Offered... Read More
HOUSTON - (Mealey's) Two days after finding Texas financier R. Allen Stanford guilty on 13 criminal charges relating to his operation of a massive Ponzi scheme, a federal jury in Texas on Mar. 8 returned a special verdict finding that Stanford... Read More
WASHINGTON, D.C. — (Mealey’s) Lloyds Banking Group plc has agreed to pay a total of $370 million to settle claims with U.S. and British agencies alleging that Lloyds violated various laws by manipulating the London Interbank Offered Rate ... Read More