Vancouver fraudster charged in alleged US$58 million boiler room stock scam; related to Frederick Sharp case

Tweet The Securities and Exchange Commission (SEC) has filed another enforcement action related to the Frederick Sharp case, this one involving the operation of a boiler room in Colombia used to solicit investments from investors for little issuers. The SEC alleges that the defendants ran a call centre boiler room in the cocaine capital of […]

Two UK men convicted of money laundering in connection with carbon fraud in one of first green collar convictions

Tweet Two men in the U.K. were convicted this week of money laundering and fraud in one of the first green collar crime cases, and certainly one of the first cases involving Canada. The two men, David John Downes and Ian David Macdonald, sold shares in entities which claimed to own carbon credits, raising upwards […]

Record prison sentence imposed on lawyer for insider trading and money laundering

Tweet New York lawyer, Matthew Kluger, was sentenced yesterday in federal court in New Jersey to 12 years in prison for insider trading. His sentence is the longest term ever imposed for that crime in the U.S. Kruger stole undisclosed transactional information on approximately 30 deals when he was a corporate lawyer with several U.S. […]

Florida businessman pleads guilty in US$800 million Ponzi scheme

Tweet Florida businessman Nevin Shapiro pleaded guilty to running a US$880 million Ponzi scheme. Shapiro was the founder and president of Capitol Investments USA, Inc. (Capitol), a grocery distribution business. He surrendered to the FBI and was arraigned in federal court in New Jersey in April of this year. He was charged with securities fraud […]