arrested the founder of German investment firm K1 Group, Helmut Kiener

Police arrested the founder of German investment firm K1 Group, Helmut Kiener, in connection with a fraud investigation at the firm, a local prosecutor said Thursday.European and U.S. authorities are investigating whether K1 embezzled millions of dollars from several global banks, including J.P. Morgan Chase & Co., Barclays PLC, BNP Paribas SA and Société Générale SA, the prosecutor said.arrested Helmut Kiener, the founder of the K1 hedge fund, which is suspected of bilking numerous banks, including Barclays Capital, JPMorgan Chase, BNP Paribas...

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Authorities accuse Stanford of leading a $7 billion Ponzi scheme by promising inflated returns to about 28,000 investors

lawyer tracking down money lost in what authorities say was a massive Ponzi scheme run by R. Allen Stanford says he hopes to gain control of more than $1.5 billion that would be then returned to fleeced investors.Court-appointed receiver Ralph Janvey filed a report in federal court in Dallas late Wednesday outlining his plan to go after the $1.5 billion and provide allegedly defrauded Stanford investors a return of as much as 20 cents on the dollar.But John Little, a lawyer appointed to represent investors, said Janvey's recovery goal is "something...

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Tom Petters and his organization nearly imploded eight years before

Tom Petters and his organization nearly imploded eight years before federal authorities were told that he was at the center of a huge Ponzi scheme.In the first day of testimony at Petters' trial in St. Paul, executives from General Electric Credit Corp. (GECC) and big-box retailer Costco told jurors Thursday that they determined in 2000 that Petters had created false documents to stave off an impending financial catastrophe. The documents included purchase orders for electronic goods and copies of bogus checks.The witnesses told of a $50 million...

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charged CDR Financial Products and its founder and chief executive, David Rubin,

charged CDR Financial Products and its founder and chief executive, David Rubin, with secretly manipulating the competition among banks and other investment firms for the lucrative business of helping governments raise money. The indictment said the participating banks then kicked back part of their profit to Mr. Rubin and his firm.The charges were the first in a wide-ranging antitrust investigation of the municipal bond business that has been in progress for several years. Federal investigators in New Mexico had previously looked at CDR’s involvement...

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