Enforcement

Jurors in the trial of five former Bernard Madoff employees were shown video clips of the con man telling participants at a conference in 2007 that fraud on Wall Street was “virtually impossible.”
While speaking at the occasion of the International Customs Day on Jan. 26, Indian Finance Minister, Mr. P. Chidambaram admitted that in spite of the stringent import restrictions, gold smuggling reached up to 3,000 kg in certain months.
Former Goldman Sachs Group Inc. trader Matthew Taylor was sentenced to nine months in prison for concealing an unauthorized $8.3 billion trading position in 2007, which caused the bank to lose $118 million.
JPMorgan Chase & Co.’s legal bills contributed to a decline in the Federal Deposit Insurance Corp. tally of U.S. bank-industry profits for the third quarter.
On Nov. 12, 2013, the SEC announced it had entered into a Deferred-Prosecution Agreement with Scott Herckis, a former hedge fund administrator, for his role in an allegedly fraudulent scheme involving Heppelwhite Fund, LP, a Connecticut-based hedge fund.
The CFTC obtained a federal court consent Order against Defendant MF Global Inc. (MF Global) requiring it to pay $1.212 billion in restitution to customers of MF Global to ensure customers recover their losses sustained when MF Global failed in 2011.
Former directors and officers of MF Global Holdings Ltd. were ordered to face a lawsuit claiming investors were defrauded in the collapse of the firm in 2011.
A while back we talked about a lawsuit in which Chicago proprietary trading firm DRW Investments LLC had sued the Commodity Futures Regulatory Commission because it was afraid that the CFTC was going to sue it for market manipulation and, apparently, thought there was a rule that whoever sues first wins. Nope, not a rule.
In the hedge fund record books, there will always be doubts about how Steven A. Cohen outperformed rivals for more than 20 years.