Securities fraud

FILE - In this June 26, 2018, file photo the General Electric logo appears above a trading post on the floor of the New York Stock Exchange. General Electric’s stock is tanking after a report which claims the company has been misleading investors. Investigator Harry Markopolos accused GE Thursday, Aug. 15, of engaging in accounting fraud worth $38 billion. He said GE is heading for bankruptcy and is hiding $29 billion in long-term care losses. (AP Photo/Richard Drew, File)
August 15, 2019 - 1:17 pm
NEW YORK (AP) — A whistleblower who warned regulators about Bernard Madoff's Ponzi scheme is now accusing General Electric of misleading investors, sending the company's stock on a downward spiral. Investigator Harry Markopolos accused GE on Thursday of engaging in accounting fraud worth $38...
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In this Feb. 27, 2014, photo, then-MRI International Inc. President Edwin Fujinaga is asked for comments by the media upon arrival at Federal Court in Las Vegas. Fujinaga, former head of the Las Vegas and Tokyo investment firm, is due to face a federal judge in Nevada on Thursday, May 23, 2019, after a jury found him guilty in November in a fraud case that prosecutors rank with the nation’s largest-ever, including Bernard Madoff. (Kyodo News via AP)
May 23, 2019 - 4:07 pm
LAS VEGAS (AP) — The former head of a Tokyo and Las Vegas investment firm was sentenced Thursday to 50 years in prison for bilking thousands of Japanese victims in what prosecutors called a $1.5 billion international Ponzi scheme that ranks among the largest-ever fraud cases in the U.S. Defendant...
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May 09, 2019 - 5:12 pm
LAS VEGAS (AP) — A federal judge in Nevada reversed a magistrate's decision and ordered a father and son from Japan to remain jailed in U.S. custody pending trial on fraud charges in what prosecutors call a $1.5 billion international Ponzi scheme. Attorney Richard Wright, representing former MRI...
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April 18, 2019 - 5:26 pm
LAS VEGAS (AP) — Two former investment executives from Japan pleaded not guilty in Las Vegas on Thursday to criminal fraud charges in what prosecutors have called a $1.5 billion international Ponzi scheme. Junzo Suzuki, 70, and his son, Paul Suzuki, 40, arrived in custody in the U.S. on Wednesday,...
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This image provided by the U.S. Marshals Service shows part of the wanted poster for Frederick Darren Berg. Federal agents believe Berg, the man who masterminded a $100 million Ponzi scheme and escaped from a federal prison in California, may have fled to South America. Court records reviewed by The Associated Press detail the investigation into the 2017 escape of Berg. The documents say the U.S. Marshals Service has named Berg’s former boyfriend, Darrell Ray Blankenship, as a “person of interest” in connection with the escape. Blankenship has not been charged with a crime. (U.S. Marshals Service via AP)
April 04, 2019 - 3:11 pm
WASHINGTON (AP) — A man who masterminded a $100 million Ponzi scheme and escaped from a federal prison in California may have fled to South America and federal officials have named his boyfriend as a person of interest in the case, according to court records reviewed by The Associated Press on...
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March 27, 2019 - 7:41 am
WASHINGTON (AP) — The Supreme Court is rejecting arguments made by Justice Brett Kavanaugh when he was an appeals court judge in a case involving securities fraud. The court's 6-2 ruling Wednesday affirms an appeals court decision against investment banker Francis Lorenzo over false and misleading...
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FILE - In this June 14, 2018, file photo, Tesla CEO Elon Musk speaks at a news conference in Chicago. Attorneys tell a federal judge that Tesla CEO Elon Musk shouldn't be found in contempt because he didn't violate a securities fraud settlement. The attorneys wrote in documents filed Monday night, March 11, 2019, that a Feb. 19 tweet by Musk merely restated prior disclosures on electric car production volumes. (AP Photo/Kiichiro Sato, File)
March 11, 2019 - 8:25 pm
DETROIT (AP) — Tesla CEO Elon Musk should not be found in contempt of court because he has complied with the terms of a securities fraud settlement, his attorneys wrote in documents filed Monday night with the U.S. District Court in Manhattan. Musk's lawyers wrote that a Feb. 19 tweet merely...
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February 23, 2019 - 7:45 am
TIRANA, Albania (AP) — Albania's Defense Ministry says it has found scores of hand grenades in a northern city that are believed to have been looted from army depots in 1997 during civil unrest sparked by a failed Ponzi scheme. A statement Saturday said a town hall cleaning staff in Puke, 140...
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December 27, 2018 - 8:05 am
GREENBELT, Md. (AP) — They followed a call script for reassuring investors: A broker boasted of winning up to 95 percent of his trades. Sales representatives promised a client she would be a millionaire within a year if she didn't withdraw her five-figure investment. "If you win, I win," the broker...
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November 29, 2018 - 4:41 pm
LAS VEGAS (AP) — A 79-year-old former head of a Las Vegas and Tokyo investment firm is facing the rest of his life in a U.S. prison after a jury in Nevada found him guilty of bilking thousands of Japanese victims in what prosecutors called a $1.5 billion international Ponzi scheme. Edwin Fujinaga...
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