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Jury Convicts Former Madoff Employees Of All Charges

In the first trial to take place since Bernard Madoff's massive Ponzi scheme shocked the world more than five years ago, five former employees at Madoff's investment firm were convicted by a New York federal jury for their participation in Madoff's scheme. After nearly 3 days of deliberations...

Florida Cop Gets 5-Year Sentence For Rothstein Ties, Including Illegal Arrest

"Mr. Benjamin, while wearing the cloak of BSO authority, engineered the arrest and incarceration of an innocent citizen. This was done purely for financial gain. This conduct is deplorable — it is unconscionable." - U.S. District Judge James Cohn A former Broward County Sheriff's...

TelexFree Founders Indicted on Fraud Charges

A Massachusetts grand jury indicted TelexFree co-founders James Merrill and Carlos Wanzeler on multiple fraud charges in what authorities have alleged was a massive Pyramid/Ponzi scheme that may have defrauded victims out of hundreds of millions of dollars. Merrill and Wanzeler were charged with one...

Lloyds to Pay $370M to Settle Libor Manipulation Claims in U.S., U.K.

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 (Libor), according a press release issued by the Department...

McGraw Hill, S&P to Pay $1.5B to Settle Fraud Claims Over Credit Ratings

WASHINGTON, D.C. — (Mealey’s) McGraw Hill Financial Inc. and its subsidiary, Standard & Poor’s Financial Services LLC (S&P Financial), announced today that they will pay a combined $1.5 billion to settle actions brought by the U.S. Department of Justice, the attorneys general...