In an order against Merrill Lynch, the U.S. Securities and Exchange Commission found that the brokerage firm failed to prevent securities violations and protect securities laws regarding the pre-release of American Depository Receipts (ADRs)...
In a Florida bankruptcy court settlement claim, General Electric Company agreed to pay $49 million for allegations that the company was complicit in a $3.65 billion Ponzi scheme. The original amount being sought by the plaintiffs was $651...
Jianyun “Tony” Ye, the co-owner and business partner of Danhong Jean D. Chen, was indicted by a federal grand jury on 14 charges including obstruction of justice, aggravated identity theft, and 10 counts of visa fraud.
The Financial Industry Regulatory Authority Inc. has barred Floyd Powell from the securities industry. The broker sold close to $3.5 million of promissory notes relating to the Woodbridge Group of Companies through unapproved private securities...
According to the Senate Special Committee on Aging, senior citizens are common targets of fraud and financial abuse, with a combined estimated annual loss of $2.9 billion.
The U.S. Securities and Exchange Commission (SEC) has announced that clients from 79 investment firms who were sold high-fee mutual funds will get their money back. The restitution, totaling $125 million, will go back to retail investors who were...
