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Yesterday, the Securities and Exchange Commission (SEC) announced that it has charged ICP Asset Management LLC, a New York-based investment advisor, its founder, Thomas Priore, and two other affiliated firms (together, ICP) for defrauding "four multi-billion dollar collateralized debt obligations (CDOs) by engaging in fraudulent practices and misrepresentations," improperly obtaining "tens of millions of dollars in advisory fees and undisclosed profits at the expense of their clients and investors
Yesterday, the Securities and Exchange Commission charged Brookstreet Securities Corp. (Brookstreet) and its President and CEO Stanley C. Brooks with fraud for "systematically selling risky mortgage-backed securities to customers with conservative investment goals."
Yesterday, the Securities and Exchange Commission announced the filing of a civil suit in which it alleges fraudulent activity by 10 brokers associated with a now-defunct California based investment firm
On April 1, the House Judiciary Committee held a hearing entitled "Proposals to Fight Fraud and Protect Taxpayers," to discuss a number of proposed bills intended to protect taxpayers from financial crimes and fraud
Neil M. Barofsky, the Special Inspector General for the Troubled Asset Relief Program (SIGTARP), in coordination with the Inspector General for the Board of Governors of the Federal Reserve System (FRB-OIG), announced further details this week about the multi-agency task force designed to deter, detect and investigate instances of fraud in the Term Asset-Backed Securities Loan Facility (TALF) program, scheduled to launch this month
