Blog
Cheaters Never Prosper… Or At Least Not for Long
Thanks to a friend in investment banking, hedge fund manager Joseph Contorinis is charged with investment fraud. Using inside information from his buddy, Contorinis allegedly made illegal trades. Although he managed to rake in $7 million, that cheat and win streak is...
Seven Years for $5 Million
Virginia’s Mark Donnelly robbed clients of more than $5 million in an elaborate Ponzi scheme. In return for his guilty plea, a judge sentenced him to seven years in prison. That may be just enough time to figure out how to make an honest living. Check out the details...
Even Madoff Knows it Takes a Village
It’s not easy being a fraud, even for Bernard Madoff. Come to find out, his long-time auditor is finally admitting to helping fuel the enormous Ponzi scheme. Accountant David Friehling pleaded guilty to charges of securities and investment advisor fraud. For...
Former John Hancock Advisor Accused of Forgery
How’s that for irony? John Mondello was an advisor with John Hancock Financial Services in Long Island, NY who allegedly forged the signature of his elderly client and robbed her of her $1 million nest egg. Though his name is synonomous with ‘signature,’ American...
Salt in Stanford’s Wounds
As if it could get any worse for the beleaguered Texas financier Allen Stanford, he is now being stripped of his knighthood by the Caribbean nation of Antigua and Barbuda. Yep folks, you read it right. Mr. Stanford was actually a Knight. In the absence of that...
That’s Charity?
Charles Harrison of Charlotte, North Carolina had his elderly clients convinced their $11 million in investments was funding non-profit organizations. That’s true only if you consider his fine clothing and personal entertainment a charitable pursuit. Harrison admitted...
An Investment Crime Whodunit
Patricia Cornwell now has real life fodder for her crime fiction, but investment fraud isn't really her forte. Cornwell is accusing Anchin Block &Anchin of mishandling her fortune. $40 million is gone and though it’s not all accounted for,...
Terrorist Support Carries Big Ticket
Recently, FC pondered the massive investment thefts at the hands of Raj Rajarutnam. Come to find out, that Mr. Rajarutnam may be more than greedy. He’s accused of funding a group of suicide bombers of Sri Lanka. Now that’s about as bad as it gets, and that’s no joke....