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Allen Stanford, former owner of Stanford International Bank, was convicted in early March on 13 counts in connection with his $7 billion Ponzi scheme, in which the bank sold fraudulent certificates of deposit
On March 6, 2012, three years after R. Allen Stanford was indicted for fraud, a federal jury returned a verdict against Stanford with regard to a $7 billion Ponzi scheme involving nearly 30,000 investors worldwide
On March 6, 2012, the DOJ announced that it intends to promptly bring criminal cases against both banks and individuals for their roles in selling risky mortgage-backed securities and for committing other crimes that deepened the financial crisis
During his January 24 State of the Union Address, President Obama announced the expansion of an existing federal task force to investigate and prosecute financial fraud, naming New York State Attorney General Eric T. Schneiderman as the leader of the new unit
Irving Picard's lawsuit against JPMorgan Chase & Co. styled Picard v. JPMorgan Chase & Co., 11-cv-913, in the U.S. District Court, Southern District of New York, was dismissed on November 1, 2011
Less than a week after Judge McMahon dismissed Picard's lawsuit against JPMorgan, former Madoff clients filed a class action lawsuit against the bank seeking to recover $19 million
In a securities suit against former Washington Mutual (WaMu) directors and officers alleging misstatements surrounding the company's problems in its mortgage lending business, plaintiffs have asked a U.S. District Court in Seattle to approve a $41.5 million settlement
