FinancialFraud

Massive Fraud Scheme Unraveled: Guilty Pleas in $100 Million New Jersey Deli Case

4 days ago

In a stunning conclusion to a high-profile fraud case, two key players involved in the now-infamous $100 million deli scheme in New Jersey have pled guilty to serious charges. This case has not only captivated public attention but has also raised significant questions about regulatory oversight and the integrity of financial practices in the food industry.

WAMCO's Ken Leech Enters Not Guilty Plea in Major $600 Million Fraud Case

7 days ago

In a dramatic turn of events within the financial industry, Kenneth Leech, the President and Chief Executive Officer of WAMCO, has pleaded not guilty to serious charges in a staggering $600 million fraud case. The allegations against him have sent ripples through the market and raised eyebrows among investors and stakeholders alike.

HSBC Faces Legal Action from Australian Regulator Over Scam Losses

8 days ago

In a significant turn of events, HSBC Holdings plc has found itself embroiled in a lawsuit initiated by the Australian financial regulator, the Australian Securities and Investments Commission (ASIC). This legal action revolves around the bank’s alleged failures to adequately safeguard customers against scams, leading to substantial financial losses for many individuals.

Judge Reconsiders 18-Year Sentence for Hwang Following Legal Appeal

1 month ago

In a significant development in the legal proceedings against Bill Hwang, the U.S. District Judge presiding over the case has announced that he will evaluate the possibility of reducing Hwang's 18-year prison sentence, which was imposed after his conviction for fraud and conspiracy in a dramatic stock market manipulation case. This announcement brings a glimmer of hope to Hwang and his legal team who have been advocating for a reconsideration of the harsh punishment handed down earlier this year.

Bill Hwang, Founder of Archegos Capital, Sentenced to 18 Years in Prison for Fraud

1 month ago

In a landmark ruling that has captured the financial world’s attention, Bill Hwang, the founder of the once-meteoric investment firm Archegos Capital Management, has been sentenced to an extensive 18 years in prison. This sentence follows Hwang's conviction on multiple charges of fraud and conspiracy, which were tied to the massive financial collapse of his firm in early 2021.

Bill Hwang’s Sentencing in Archegos Capital Case Delayed Until November

2 months ago

In a significant legal development, Bill Hwang, the founder of Archegos Capital Management, has had his sentencing postponed to November 2024. This alteration follows his conviction for fraud, which stemmed from the infamous collapse of his family office in March 2021, an event that sent shockwaves through the financial markets.