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Latest fraud news and updates

Money Matters - Simplified

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Stanford CIO charged of obstructing investigations, detained

Washington, February 27: The Justice department has revealed that Laura Pendergest-Holt, the chief investment officer of the Houston based Stanford Financial Group, was detained by the FBI and charged with obstructing an inquiry into the suspected $8 billion financial scam.

Two U.S. money managers accused of Wall Street fraud

Washington, February 26: Bernard Madoff seems to have become the role model for quite a number of people as the frauds on the Wall Street become all too familiar. The federal authorities held two more money managers who allegedly ran a $550 million securities-fraud scheme. A la mini Madoff!

Regulators seize Stanford Group companies

Antigua, February 21: Taking a tough stance on the alleged $8 billion fraud involving certificates of deposit issued by Antigua-based Stanford International Bank (SIB), the watchdog seized Stanford's banks and companies in Antigua and Barbuda.

Stanford charged with "massive, ongoing fraud"

Texas, February 18: The Securities and Exchange Commission (SEC) has charged billionaire R. Allen Stanford, the chairman of Houston-based investment firm Stanford Group and three other companies of whom he was in charge, with carrying out a 'massive, ongoing fraud'.

$ 15million withdrawn by Madoff’s wife

New York, February 12: Ruth Madoff, wife of the traitor Bernard Madoff took out $15.5 million just prior to her husbands arrest on December 11, 2008. $10 million were withdrawn a day before the arrest while $5.5 million were withdrawn in late November, US prosecutors say.

Houston too fell victim to Madoff’s ponzi scheme

New York, February 8: The list of clients duped by the Bernard Madoff’s ponzi scheme is a pretty long one and transcends geographical boundaries too.

SEC failed to act on tip offs in Madoff case

Washington, February 5: Tardy, inexperienced and lacking dexterity is what can be said of the SEC officials when one listens to what Harry Markopolos has to say. Markopolos, an investment manager, had tried since the year 2000 to wake up the regulators by tipping them off about a possible fraud in the Bernard Madoff ponzi scheme.


Warning: trigger_error(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected the timezone 'UTC' for now, but please set date.timezone to select your timezone. in /home/themoney/public_html/includes/database.mysql.inc on line 135

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