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Stock Scandal
Stock Scandal
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2000 Apr 13 |
Shareholders led by Edward Rose III of Dallas filed a 58-page suit against the Terayon Communications for securities fraud, one day after the stock fell 26%. Rose, a short seller and founder of Cardinal Investment Co. had partnered with George Bush in the 1989 bid for the Texas Rangers. Links: USA, Texas, Stock Scandal, Fraud 
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2002 May 21 |
Merrill Lynch agreed to pay $100 million to settle allegations that it misled investors during the 1990s. Links: Stock Scandal
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2002 May 23 |
It was reported that the US government had charged Jeffrey A. Royer, a former FBI agent, with giving stock traders information on criminal probes of public companies in a scheme hatched by investor Amr "Anthony" Elgindy. 3 others were also charged including a current FBI agent. Links: USA, FBI, Stock Scandal
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2002 Aug 7 |
Former ImClone Systems chief executive Samuel Waksal was indicted in New York on charges of obstruction of justice and bank fraud in addition to previous securities fraud and perjury charges. Waksal later pleaded guilty to securities fraud and was sentenced to more than seven years in prison. Links: Pharma, Stock Scandal, Corp. Scandal, Fraud
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2002 Sep 26 |
WorldCom former controller David Myers pleaded guilty to securities fraud, saying he was told by "senior management" to falsify records in what became the largest corporate accounting scandal in US history. Myers was later sentenced to one year and one day in prison. Links: USA, Management, Telecom, Stock Scandal, Fraud
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2002 Oct 2 |
Andrew Fastow (40), the former chief financial officer of Enron Corp. was charged with securities, wire and mail fraud, money laundering and conspiring to inflate Enron's profits and enrich himself at the company’s expense. On Sep 26, 2006, Fastow was sentenced to 6 years in prison. Links: USA, Enron, Stock Scandal, Corp. Scandal, Fraud
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2002 Oct 15 |
ImClone Systems founder Sam Waksal pleaded guilty in New York in the biotech company's insider trading scandal. Links: New York, Stock Scandal, Corp. Scandal
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2002 Dec 19 |
Ten US brokerage firms agreed to pay $1.44 billion in fines to end investigations over misleading stock recommendations. Links: USA, Stock Scandal
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2002 Dec 20 |
The US 10 biggest brokerages agreed to pay $1.44 billion and fundamentally change the way they did business to settle allegations they'd misled investors by hyping certain companies' stocks. Links: USA, Stock Scandal
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2003 Jun 4 |
Martha Stewart stepped down as head of her media empire, hours after she was charged with a 9-count federal indictment in a stock trading scandal. Stewart was convicted in March, 2004, of lying about why she'd sold her shares of ImClone Systems stock in 2001, just before the stock price plunged. Links: Stock Scandal
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2003 Jun 9 |
Freddie Mac, a US government-sponsored mortgage company, ousted 3 top officials. The 4th largest US financial company had assets of $722 billion at the end of 2002. Leland Brendsel, CEO, was given a severance package valued at $24 million. Links: USA, Stock Scandal
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2003 Jun 10 |
Samuel Waksal (55), founder of ImClone Systems, was sentenced to 7 years in prison and ordered to pay $4.3 million for insider trading that engulfed family members and friend Martha Stewart. Links: Lawsuit, Stock Scandal
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2003 Sep 3 |
NY Attorney General Eliot Spitzer charged hedge fund Canary Capital with illegal mutual fund trading. Other funds were also named. Links: Lawsuit, Stock Scandal
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2003 Sep 17 |
Three former executives of Merrill Lynch & Co. were indicted on fraud charges related to Enron Corp. Links: Enron, Stock Scandal, Fraud
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2003 Sep 29 |
Dennis Kozlowski, CEO of Tyco Int'l., and financial chief Mark Swartz went on trial on charges that they stole over $600 million from their Bermuda-based conglomerate. Links: Lawsuit, Bermuda, Stock Scandal
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2003 Sep |
In Hungary Tibor Rejto, CEO of K&H Bank, was arrested as part of an alleged $40-50 million fraud scandal centered around stockbroker Attila Kulscar. Links: Hungary, Stock Scandal, Fraud
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2003 Nov 4 |
Richard M. Scrushy, former chairman of HealthSouth Corp., was indicted for participating in a nearly $3 billion accounting fraud. Links: Accounting, Lawsuit, Stock Scandal, Fraud
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2003 Nov 20 |
In Canada Conrad Black, newspaper magnate, stepped down as CEO of Hollinger Int'l. following reports that he other top officials received unauthorized payments of some $32.2 million. Links: Canada, Stock Scandal
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2004 Jan 20 |
Martha Stewart's stock-trading trial formally began in New York. In 2005 Stewart was serving a five-month prison sentence for lying about a stock sale. Links: USA, Stock Scandal
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2004 Jan 27 |
The case against Martha Stewart (62) began in NYC. Prosecutors alleged that Stewart intended to commit securities fraud in her Dec 21, 2001, sale of ImClone Systems shares. She was convicted the following March and sentenced to five months in prison. Links: USA, NYC, Stock Scandal, Fraud
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2004 Feb 27 |
A federal judge in NY threw out 1 of 5 counts against Martha Stewart (62). She said prosecutors failed to prove that Stewart intended to commit securities fraud in her Dec 21, 2001, sale of ImClone Systems shares. 4 lesser charges remained. Links: USA, NYC, Stock Scandal, Fraud
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2004 Mar 5 |
Martha Stewart was convicted in New York of obstructing justice and lying to the government about why she'd unloaded her Imclone stock just before the price plummeted; her ex-stockbroker, Peter Bacanovic, also was found guilty in the stock scandal. Each later received a five-month prison sentence. Links: NYC, Stock Scandal
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2004 Mar 15 |
Martha Stewart resigned from the board of Martha Stewart Living Omnimedia 10 days after being convicted in a stock scandal. Links: USA, Stock Scandal
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2004 Jul 16 |
Domestic icon Martha Stewart was sentenced to five months in prison and five months of home confinement by a federal judge in New York for lying about a stock sale. On March 4, 2005, Stewart was released from Alderson Federal Prison Camp, aka “Camp Cup-cake,” in West Virginia. She was then placed under home confinement and required to wear an ankle bracelet for an additional 5 months. Links: USA, New York, West Virginia, Lawsuit, Stock Scandal
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2005 Mar 4 |
Martha Stewart returned from prison to the multi-million-dollar estate where she will remain under the watch of federal authorities while trying to revive her homemaking empire. Links: USA, Stock Scandal
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2007 Sep 3 |
A Thai court issued arrest warrants for former PM Thaksin Shinawatra and his wife over their alleged violations of stock-trading laws. Links: Thailand, Stock Scandal
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2021 Mar 18 |
The US Department of Justice (DOJ) said James Roland Jones (33), a SpaceX engineer, has pleaded guilty to charges of insider trading on the dark web. Jones bought and sold personally identifiable information on the dark web and used this information from 2016-2017 to open up fake accounts to conduct trades on material, non-public information. Links: USA, Stock Scandal
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