Viewing entries tagged with 'Investment Manager'
Posted by Patrick Edwards on 26 July 2012
These days, everywhere I turn, I hear about a new investment scam. One day, Bernie Madoff, a prominent investment manager, pleads guilty to 11 federal crimes and admits to turning his wealth management business into a massive Ponzi scheme that defrauded thousands of investors of billions of dollars.
The next day I hear about Allen Stanford, a prominent financier, philanthropist, and sponsor of professional sports, who on on February 17, 2009, was charged by the U.S. Securities and Exchange Commission ("SEC") with fraud and multiple violations of U.S. securities laws for alleged "massive ongoing fraud" involving $8 billion in certificates of deposits.
