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A Louisiana businessman was charged Friday with engaging in a Ponzi scheme to defraud about 160 investors — mostly elderly people — out of roughly $19.5 million and using some of the money to pay for cars, cruises, sports tickets and a house.
Bundesliga clubs voted down a proposal to scrap a rule that prevents outside investors from taking a majority stake in German soccer teams.
Hong Kong banks agreed to return more than $800 million to investors burned by Lehman Brothers-backed derivatives, potentially ending a nearly yearlong dispute that sparked street protests and exposed problems in this financial center's markets.
The Obama administration has sent Congress legislation designed to protect investors by bolstering the authority of the Securities and Exchange Commission.
The final executive to be sentenced in the biggest bankruptcy in South Carolina history is to spend 2 1/2 years behind bars
More than two years year after the housing market tanked and the foreclosure rate began rising, the ongoing wave of distressed home sales is weighing on house prices and crimping a long-awaited economic recovery.
Investors unable to access $1.7 billion connected to companies owned by Texas billionaire R. Allen Stanford asked a federal appeals court Monday for access to their money.
General Electric Co. assured investors Thursday that its financial unit is stable and will at least break even this year, even under a worst-case scenario of double-digit unemployment and a sharper slump in the economy.
A South Carolina jury found former HomeGold Financial Inc. Chairman Jack Sterling guilty of securities fraud Friday and a judge quickly sentenced him to five years in prison for his role in a bankruptcy that cost investors $275 million.
A federal judge issued an order Thursday lifting a freeze on about 12,000 investor accounts with Texas billionaire R. Allen Stanford that were valued at $250,000 or less as of Feb. 28, at the request of the court-appointed receiver in the Stanford case.
Eastman Kodak Co. said Wednesday it is bracing for a 12 percent to 18 percent slump in sales this year and a wider-than-expected loss because of the severity of the economic downturn.
The Federal Reserve has cut rates to zero and flooded the financial system with money. Congress has spent $350 billion — and committed another $350 billion — to shore up the battered banking industry. Banks have already booked roughly half a trillion in losses, and analysts say they could be looking at a half a trillion more.
- It didn't have the “gotcha” catchiness of Treasury Secretary-nominee Timothy Geithner's failure to pay some taxes, but in the long run the more significant theme of his confirmation hearing Wednesday before the Senate Finance Committee was the value of the dollar.
For the past quarter century, many individual investors followed a fairly simple investment strategy: set aside regular savings to invest, buy a diversified basket of holdings and ride out the occasional pullbacks by staying focused on very long term returns. That conventional wisdom generally paid off.
Every year we reporters and editors gather in our smokeless newsrooms to debate the top stories of the year and come up with endless "top 10" lists.
They had known him for years as a golf partner, a family friend. Some were neighbors or fellow members of country clubs on Long Island and in Florida.
During the darkest days of the stock market's slide last month, Jack Bass withdrew stock from his retirement accounts and literally felt sickened by what was happening.
Falling prices and rampant foreclosures are not the stuff of healthy housing markets. But to some real estate investors, the dismal market can signal that it is time to invest.
In the midst of historic volatility on Wall Street there is a continuing trend of blacks saving and investing less than whites, according to a survey released Wednesday. The difference is attributed to various social and cultural reasons such as getting less exposure to personal finance concepts and advice.
After a free fall in share prices this week, investors in Asia could do little else but pray.
A group of Dillard's Inc. investors is asking the family that controls most shares in the department store chain to give up control of the 70-year-old company.
Homeowners who are having trouble with their mortgages seem to get the same advice wherever they turn: at the first sign of trouble, call your lenders and see if you can work out a payment plan. But that means figuring out who owns your mortgage — which is not as easy as it looks.
DreamWorks SKG is in talks with investors to split from Viacom Inc. and become an independent studio again, it was reported Wednesday.
National City Corp. will get about $6 billion from private investors in a deal that provides much-needed capital to a Midwestern bank heavily exposed to the worsening mortgage and housing market, according to reports published Sunday.
Charter Communications Inc. announced Tuesday, just as the firm's chief financial officer announced his resignation, that outside parties have asked about investing in the company.
Dow Finishes at 13-Month HighStocks ended higher Wednesday, with the Dow industrials finishing at a 13-month high for third straight day, after investor optimism rose on the expectation that interest rates would remain low for some time.
WisdomTree Registers New Inflation-Linked ETF - News In FocusWisdomTree Trust has registered with the SEC a new exchange-traded fund that seeks to give investors long-term returns above the rate of inflation.
'3 Hebrew Boys' Fraud Trial to StartJury selection is scheduled to start today in the federal case of three Columbia-area men accused of running the $82 million "3 Hebrew Boys" investment scheme.
Madoff Billionaire Found Dead in Palm Beach Swimming PoolThe death of Jeffry Picower, accused of profiting more than $7 billion from the investment schemes of his longtime friend Bernard Madoff, will make it more difficult for suing investors to recoup their money, attorneys said.
Limbaugh Dropped From Bid to Buy N.F.L.'s Rams\One day after Commissioner Roger Goodell said that Rush Limbaugh's bid to buy the St. Louis Rams would receive little support from N.F.L. ownership, Limbaugh was dropped from the group of investors hoping to buy the team.
Back from the Brink; Victims of financial scams, bubbles make comebacksStock market swindles and greedy CEOs brought these folks close to financial ruin. First they got angry. Then they got busy. One was a secretary at Enron. One was swindled by Madoff. Another had his 401K in WorldCom.
East fails to meet West for Palin HONG KONG - Months after disappearing from public view following her resignation as governor of Alaska, former Republican vice presidential candidate Sarah Palin planned to re-emerge as a political force last week with her highly publicized appearance at a conference of heavy-hit …
The header sounds awesome, doesn't it? So What happened to the concept?
Bank of America: Did Ken Lewis Lie to Shareholders?Bank of America CEO Kenneth Lewis may in for much more than a trip to the woodshed.
A Short History of Fast Times on Wall StreetMANY fear that new technology is giving some investors unfair access to stock market information. Supercomputers allow certain traders to profit by executing trades in milliseconds, a practice known as high-frequency trading.
U.S. Proposes Ban on 'Flash' Trading on Wall StreetIt is an obscure art of Wall Street, a technique that gives a scattering of traders an edge over everyone else — and the Securities and Exchange Commission wants to stamp it out.
I see all kinds of news stories lately about how the recession is ending or nearing an end.
What Could Possibly Go Wrong?-- Wall Street Pursues Profit in Bundles of Life InsuranceAfter the mortgage business imploded last year, Wall Street investment banks began searching for another big idea to make money. They think they may have found one.
Why Buying and Holding Isn't What It Used To Be by Sean Carpenter Are you finding deals are getting tougher to close with the new restrictions banks are pushing on applicants? Is it taking longer to get a deal done? Have you stopped looking for new projects to acquire?
The economy could not be better for some people. Why? It's because they are in a position to profit from the implosion of prices today. The discounts over value today haven't been this good since the 1980s. For some it's even better than that.
More Innovation from Wall Street: Securitized Viaticalsexcerpt: ""The geniuses of Wall Street have decided that the next big thing is betting on death. Yes, Wall Street will be rooting for sick people to die right away, at least as soon as the dying sell them their life insurance policies.
So You Just Squandered Billions . . . Take Another Whack at It You've probably never heard of Jay Levine, Chris Ricciardi, John Costas or Stanford Kurland, but they are charter members of Wall Street's Mulligan Club.
Federal judge OKs $925M UnitedHealth settlement - wtop.comINDIANAPOLIS (AP) - A federal judge has approved a settlement that pays UnitedHealth Group Inc. shareholders more than $900 million to resolve a class-action lawsuit over options backdating.
Ethical Profits: Green Investing Is Paying OffStock markets from New York to London are finally recovering. Appetite for risk is returning. And recent improved corporate results have buoyed hopes that the global economy is on the mend.
Economy looks better, but when will consumers spend again?Wall Street was buoyed by the GDP report. But consumers still aren't spending. And until they do, investors may have to be wary of the recovery talk.
We keep hearing about a company called CIT Group inc. Unless you own a large commercial concern, lease heavy equipment, or factor your inventory, you most likely are unfamiliar with this financial giant.
People Buy Gold to Offset InflationFear that stocks will suffer as the recession grinds on for a long time, so gold makes sense.
Madoff Scam Reveals Regulatory FailureNow that he has pleaded guilty, Bernard Madoff's story might be seen to have reached an end of sorts. But so vast was the scale of his crime that the legacy of his extraordinary fraud will take years, if not decades to reveal itself.
Bernie Madoff was handed a 150-year prison term for bilking BILLIONS of dollars from investors. Will his long prison sentence deter others from committing similar crimes? Were you a Madoff victim?
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