At least three major Ponzi schemes are currently scamming American investors, according to Harry Markopolos , the man whose warnings about the Bernard Madoff Ponzi scheme were ignored by the Securities Exchange Commission (SEC). “I’m working on three multi-billion dollar Ponzi schemes today,”
Retired U.S. Army General and former presidential contender Wesley K. Clark was the chairman and public face of a Wall Street investment firm that rode a wave of interest in Chinese stock, and then plunged on reports that much of the profit was hype and many of the companies were outright frauds.
Ex-US Official Says China Refused to Help Catch Alleged Fraudsters Taking US Billions
Your look at the five biggest and most buzz-worthy stories of the morning. 1. Killer Whales Trapped Under Sea Ice A community in Quebec is calling for outside help to free about a dozen killer whales that are trapped under a large stretch of sea ice. Locals say the mammals have gathered around a
ECONOMY ABC News’ By Matthew Mosk, Brian Ross, and Stuart Johnson: “US Officials: China Refuses to Help Stop Investment Scams“ The Chinese government snubbed a U.S. request for help in cracking down on a string of alleged investment frauds that have cost Americans billions, outgoing...
And now, an abc news investigation. We have learned of a wall street c scandal that could be bigger than the one contrived by bernie madoff. Ordinary americans, investors, losing billions of dollars, thinking they were riding the chinese economic boom, only to get a very big shock. Abc's chief
The Chinese government snubbed a U.S. request for help in cracking down on a string of alleged investment frauds that have cost Americans billions, outgoing Securities and Exchange Commission Chairman Mary Schapiro told ABC News. The lack of cooperation has stymied efforts to recoup investor
4:26 p.m. ET: “Nightline” goes INSIDE AMAZON on one of the companies craziest holiday order days: Cyber Monday. ABC’s Neal Karlinsky reports that the inner world of Amazon looks like a bustle of conveyor belts and bargains on Cyber Monday. Read Neal’s full story HERE 3:33...
The head of the government’s financial sector watchdog is stepping down. Mary Schapiro, who chairs the Securities and Exchange Commission, announced today that she will leave her post next month after four years of working to retool the agency after a severe financial crisis it...
JPMorgan Chase CEO Jamie Dimon was in the hot seat again today defending the country's biggest bank on Capitol Hill over risk-taking and trading losses, telling lawmakers that the bank disclosed the losses when they realized the extent of them. Dimon testified before the House Financial Services