Search results
Results From The WOW.Com Content Network
The Raj Rajaratnam/Galleon Group, Anil Kumar, and Rajat Gupta inside trading cases are parallel and related civil and criminal actions by the U.S. Securities and Exchange Commission and the United States Department of Justice against three friends and business partners: Galleon Group hedge fund founder-owner Raj Rajaratnam and former McKinsey & Company senior executives Anil Kumar and Rajat Gupta.
In a later settlement, Baxter and Pilgrim agreed to “pay $80 million – $60 million in disgorgement and $20 million in civil penalties.”. On December 18, 2003, the SEC “announced an enforcement action against Alliance Capital Management L.P. (Alliance Capital) for defrauding mutual fund investors. The SEC ordered Alliance Capital to pay ...
The Madoff investment scandal was a major case of stock and securities fraud discovered in late 2008. [1] In December of that year, Bernie Madoff, the former Nasdaq chairman and founder of the Wall Street firm Bernard L. Madoff Investment Securities LLC, admitted that the wealth management arm of his business was an elaborate multi-billion-dollar Ponzi scheme.
In December 1992, MMM-Invest was created as a voucher investment fund, a type of entity created to collect privatization vouchers. [8] It was renamed Russ-Invest in May 1995, to distance it from the MMM scheme. [8] The MMM Ponzi scheme was launched in February 1994, [9] promising annual returns of up to 3000 %. [10]
Securities fraud, also known as stock fraud and investment fraud, is a deceptive practice in the stock or commodities markets that induces investors to make purchase or sale decisions on the basis of false information. [1] [failed verification][2][3] The setups are generally made to result in monetary gain for the deceivers, and generally ...
Millennium Management is an investment management firm with a multistrategy hedge fund offering. [9] It is one of the world's largest alternative asset management firms with over $67.9 billion assets under management as of August 2024. [10][11] The firm operates in America, Europe and Asia. [12] As of 2022, Millennium had posted the fourth ...
Microcap stock fraud is a form of securities fraud involving stocks of "microcap" companies, generally defined in the United States as those with a market capitalization of under $250 million. Its prevalence has been estimated to run into the billions of dollars a year. [1][2][3] Many microcap stocks are penny stocks, which the SEC defines as a ...
Bayou Hedge Fund Group. The Bayou Hedge Fund Group (1996-2006) was a group of companies and hedge funds founded and headed by Samuel Israel III. Approximately $450m was raised by the group from investors, who were defrauded from nearly the start with funds being misappropriated for personal use.