A Maryland federal court has convicted a citizen of Israel residing in the United States of three counts of wire fraud and one count of conspiracy for organizing a scheme to market approximately $145 million in binary options. A “binary option” is a financial instrument with an appeal that might remind gamblers of what draws… Read More >>
Two Former Execs Indicted via Alleged Investment Scheme
Two former executives of Southport Lane, L.P., a New York private equity investment holding company, have been charged with allegedly participating in an insurance investment scheme that resulted in hundreds of millions of dollars in losses, to both banks and insurance companies and to individual victims. Southport Lane specializes in managing investment portfolios for insurance… Read More >>
Ex-Deutsche Bank Traders Found Guilty of Rigging LIBOR
A former supervisor of Deutsche Bank’s pool trading desk and a former Deutsche Bank derivatives trader have been found guilty in a New York Southern District court for participating in a scheme to manipulate the London Interbank Offered Rate, better known as LIBOR, which the U.S. Justice Department calls a “critical global benchmark tied to… Read More >>
Ex-State Street EVP Convicted for Secret Fees Schemes
A former State Street Bank & Trust executive vice president has been convicted, by a Boston federal jury, of one count of conspiracy to commit securities fraud and wire fraud, two counts of securities fraud and two counts of wire fraud. The conviction of Ross McLellan, 47, of Hingham, Mass., the former EVP, who served… Read More >>
Firm Allegedly Funded Luxuries Instead of Bridge Project
The owner of two New York-based investment funds has been arrested and charged in Manhattan federal court with conspiring to commit — and the commission of — securities and wire fraud in connection with a $21 million investment fraud scheme. The arrest of Brent Borland, 48, of Sag Harbor, N.Y., was announced in Manhattan by… Read More >>
Two Ex-Rabobank Traders Face Jail Time in the U.S.
While U.S. presidential candidates cry for more investment banking personnel to be in orange jumpsuits, two former derivatives traders for Rabobank, headquartered in Utrecht, The Netherlands, might one day be donning new outfits as they have been sentenced to serve time in a U.S prison. The sentencing of the two British nationals last week followed… Read More >>
