Barry Minkow (ACFE Securities Fraud Self-Training Module, page 5): After serving 7 years of his 25 year term for securities fraud, Minkow became a minister and co-founder of a fraud discovery firm. In March 2011, Minkow plead guilty to conspiracy to commit secruities fraud (U.S. v. Minkow, 11-CR-20209, U. S. District Court, Southern District of Florida (Miami)). In July, 2011 he was sentenced to five years in prison and ordered to pay $583 million in restitution..
Marcus Schrenker (Securities Fraud, 2010, page 155): In October, 2010, the sentencing judge ignored Schrenker's plea for leniency and sentenced the former Indiana money manager to 10 years in prison for securities fraud.
Jerome Kerviel (ACFE Securities Fraud, pp. 72-73, Securities Fraud, 2010, pp. 150-151): The former trader of Societe Generale was given a 5 year jail sentence for his unauthorized trading and ordered to pay his employer restituion totaling 4.9 billion euros (USD 6.7 billion). Kerviel's case is often compared to Nick Leeson (Securities Fraud, 2010, pp. 107-110) who caused the 1995 collapse of Barings Bank.
Robert E. Brennan (ACFE Securities Fraud , pp. 53-57, Securities Fraud, 2010, pp. 87-91): The former CEO of penny stock firm, First Jersey Securities, after a 10-year prison term for bankruptcy fraud and money laundering, was released from prison and assigned to a federal halfway house in Newark, NJ. There have been no comments from Brennan or his attorneys. April, 2011, it was announced that the NJ Bureau of Securities will distribute $1.5 million to First Jersey investors as restitution.
R. Allen Stanford (Securities Fraud, 2010, pp. 155-156): Held since his arrest in 2009 related to charges of swindling 20,000 investors out of $ 7 billion, Stanford's trial began on January 23, 2012. On March 13, 2012, Stanford was found guilty on 13 of the 14 charges. June 14, 2012, Stanford was sentenced to a 110 year prison term.
Kenneth Ira Starr (Securities Fraud, 2010, p. 156): For the conversion of $33 million of clients' funds to his personal use, in March, 2011, Starr was sentenced to 7 1/2 years in prison. A Manhattan attorney, Jonathan Bristol, pleaded guilty in assisting Starr.
Rebecca Parrett (Securities Fraud, 2010, p. 153): The former officer of Ohio-based NCFE and international fugitive, was arrested in Mexico, October, 2010. She was returned to Ohio where she will serve her 25 year sentence. Additional information on Parrett in upcoming text, Investor's Guide to Loss Recovery.
Goldman Sachs (Securities Fraud, 2010, p. 154): Paid the SEC a $550 million fine to settle its fraud case related to misleading investors. In his March 2012 resignation from the firm, former Goldman executive, Greg Smith, described the firm's environment as "toxic and destructive".