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Laura Holt the former chief investment officer for Standford Financial Group was sentenced to three years in prison for obstructing a U.S. Securities and Exchange Commission probe of a $7 billion Ponzi scheme at the company. Pendergest Holt, 39, was sentenced today by U.S. District Judge Hittner in Houston. She was the third-highest- ranking executive in the financial […]
After at least four years of investigation, federal authorities announced sweeping indictments of seven businessmen who they say ran the largest Ponzi scheme in the history of the region. Lee Loomis and his father-in-law, John Hagener, were charged along with five associates in an indictment unsealed today that accuses each of 19 counts of mail […]
The Securities and Exchange Commission today announced that New York-based investment advisory firm ICP Asset Management and its founder and president Thomas C. Priore have agreed to settle the agency’s charges that they defrauded several collateralized debt obligations (CDOs) they managed. ICP, Priore, and related entities have agreed to a final judgment ordering them to […]
Reliable news sources have reported that Behringer Harvard Strategic Opportunity Fund I and II will report catastrophic losses to investors this Friday. Behringer Harvard informed brokers last week of the fund problems and is preparing to tell investors. Launched in 2005, the Behringer Harvard Strategic Opportunity Fund I raised $65 million and invested in six […]
A Financial Industry Regulatory Authority hearing panel has hit Wedbush Securities with a $300,000 fine, and issued its president and founder, Ed Wedbush, a 31-day suspension along with a $25,000 fine. The August 2nd decision is a culmination of a range of offenses, inquiries and disciplinary actions dating back over a decade to February of […]