Crime and Law

Hacking meets insider trading

The world of cyber hacking is entering a new and dangerous front.

Source: CNBC

I knew it was going to happen. The gunshots would go off; I would be blindfolded, handcuffed and interrogated. I planned an entire day around filming it. But when the actual kidnapping occurred, it was still extremely unnerving and gave me an uneasy feeling knowing that for some individuals, this was, unfortunately, the real thing. …

Movie chains under investigation

Julia Boorstin tells us why the Department of Justice is going after some of the biggest movie theater chains in the country.

GM to face criminal charges?

General Motors will reportedly face criminal charges and pay a record fine for defective ignition switches.

Banks fined for currency rigging

Some of the world’s biggest banks will pay billions and plead guilty to charges it manipulated the currency markets.

Ease of fooling the SEC

Eamon Javers reports on how easy it is to pull one over on the SEC, an agency that’s supposed to protect investors.

Avon takeover hoax

An unbelievable takeover offer sends shares of Avon soaring, but the bid was phony.

Bradley C. Bower | Getty Images
Bradley Birkenfeld, a former UBS AG banker, speaks during an interview at Schuylkill County Federal Correctional Institution in Minersville, Pennsylvania, on Tuesday, April 27, 2009.

Bradley Birkenfeld was released from federal prison in August 2012 after serving 2½ years for his role as a Swiss banker hiding millions of dollars for wealthy American clients. Five weeks later, he found himself in the kitchen of a small rental house in Raymond, New Hampshire. At that moment, Birkenfeld was an ex-con. He …

Daniel Acker | Bloomberg | Getty Images
A NYSE trader during the flash crash on May 6, 2010.

A high-frequency futures trader has been charged with illegally manipulating the stock market, contributing to the May 2010 “flash crash,” according to documents unsealed Tuesday. The Justice Department charged the United Kingdom’s Navinder Singh Sarao with wire fraud, 10 counts of commodities fraud, 10 counts of commodities manipulation, and one count of spoofing (which is …

Chris Ratcliffe | Bloomberg | Getty Images
Copper water pipes.

Farmers in rural Madera County, California, are worried about water—no surprise considering the state’s intense drought. But now they have something else to concern them: copper. The red metal’s overall scarcity and its wide range of uses make it more profitable to steal than most other metals. Copper prices have fallen from highs reached in …

Preet Bharara’s setback

Preet Bharara suffered a potential setback last week and it has the potential to undo other insider trading cases he thought he’d won.

cabania | Getty Images

Tax-refund fraud is expected to soar again this tax season, and hit a whopping $21 billion by 2016, from just $6.5 billion two years ago, according to the Internal Revenue Service. And the problem—which the agency admits is growing quickly—is compounded by an outdated fraud-detection system that has trouble identifying many attempts to trick it. …

Black market iPhones in China

Eunice Yoon explains why China’s iPhone black market is booming.

The illegal online market

Law enforcement is cracking down on websites that sell illegal drugs, guns and stolen credit cards, but business is still strong.

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Bernard Madoff in 2009

The court-appointed trustee rounding up funds for victims of the epic Madoff Ponzi scheme says the total recovered now tops $10 billion, an amount virtually no one thought possible when the scam collapsed nearly six years ago. Trustee Irving Picard filed the latest proposed settlement Monday in U.S. Bankruptcy Court in Manhattan. The deal would …