Fraud losses

Cryptocurrency fraud losses nearly doubled last year in this country, a marked contrast with the rest of the world, where they actually fell by around half.

While efforts to recover cash through litigation have repaid nearly 70% of valid claims, hundreds say they have been victimized a second time by that system.

The regulator’s move follows a Financial Planning investigation into whistleblowing by former JPMorgan financial advisor Johnny Burris.

Elias Herbert Hafen, “every client’s worst nightmare,” could face years in jail. The wirehouse says it is repaying clients.

Prosecutors said Robert Shapiro used investor money for his $6.7 million home and $3.1 million for chartering planes and for personal travel.

The decision comes a decade after the collapse of the infamous scheme.

Under the firm's CEO, who is also its chief compliance officer, the alleged scheme continued undetected for seven years, the SEC says.

The payout, to 27,000 victims worldwide, is the third distribution from the $4 billion fund, according to the Justice Department.

Melvin Leonard Wimmer Jr. is said to have bilked clients out of their retirement savings.

Investment firm blamed fat finger error for 90% decline when losses were really due to poor trading.

The bank recently disclosed in an Aug. 3 filing that it faces a U.S. inquiry into its purchase of low-income housing credits.

Cory Redding couldn't retire after the 2014 season and played another year to recoup some of his losses.

The advisor was accused in a lawsuit in January of swindling a Georgia couple out of $330,000 in retirement savings.

The advisor convinced the couple to transfer their retirement savings, but they claim the money never made it to their accounts. Their attorneys say there are other victims.

The dirty little secret about elder exploitation is that almost 60% of cases involve a perpetrator who is a family member, according to a 2014 study.

The advisor fooled her victims into thinking she would invest their funds when in fact she used the money to buy luxury items and real estate, prosecutors claim.

The payout brings the distribution to more than $1.2 billion, a fraction of the more than $50 billion scam.

Investors were bilked out of approximately $611,000, say federal prosecutors.

The advisor lured the client into investing $100,000 in what he claimed was a private placement bond but instead deposited the money into his personal bank account, say federal prosecutors.

Spanning 50 federal districts, the case involves criminal and civil charges for as many as 200 defendants.