Douglas F. Vaughan, (Securities Fraud, 2010:, page 158) The court-appointed Trustee in the Vaughan Company Realtors bankruptcy associated with Vaughan's fraud conviction, has filed nearly 150 "clawback" suits against individuals who are alleged to have benefited from Vaughan's misconduct (The Albuquerque Journal, by Richard Metcalf, March, 2012).
Structured Products, (Securities Fraud, 2010, pages 156-157). Recent developments include Citigroup's $75 million and State Street's $313 million settlements associated with the firm's exposure to subprime securities, Charles Schwab paid $119 million to the SEC and FINRA for misrepresentations related to its fund, YieldPlus.
Galleon Group Hedge Fund, (Securities Fraud, 2010, page 150). May 11, 2011. After several weeks of litigation for securities and conspiracy charges, Galleon Group founder, Raj Rajaratnam was convicted on 14 of 14 charges. On October 13, 2011, Mr. Rajaratnam was sentenced to 11 years by Judge Richard Holwell who commented that "insider trading is an assault on the free markets...[Mr. Rajaratnam's] crimes reflect a virus in our business culture that needs to be eradicated.".
Rating Agencies (Securities Fraud, 2010, page 148). On January 25, 2012, Standard & Poor's was sued by the Illinois Attorney General who accused the rating agency of assigning inflated credit ratings to high risk mortgage-backed securities.
Patricia Cornwell v. Anchin, Block & Anchin (Securities Fraud, 2010, page 149). The allegations in this $ 100 million civil case, can be found on the web site, http://legaltimes.typepad.com/files/cornwell_suit.pdf. February, 2013, Ms. Cornwell won a $50.9 million judgement. Many of the claims in this case are similar to those associated with the abuse of fiduciary relationship in the Kenneth Ira. Starr case, Securities Fraud, 2010, page 156.
Weizhen Tang (Securities Fraud, 2010, page 157). The self-proclaimed "Chinese Warren Buffet", still facing charges of stock fraud, in February 2011, offered a real time FOREX trading program that offered 1% per day returns. Tang is still awaiting trial. January 2013, filed a request with the court for a psychiatric assessment for himself.
Bernard Madoff (all texts, 2009-2011): David Friehling, the CPA and auditor for Madoff Securities, who plead guilty to federal charges of securities fraud, due to his cooperation with federal authorities, Friehling remains free on $2.5 million bail with sentencing scheduled for October 19, 2013.
Charles McCall/McKesson (Investor's Guide to Asset Recovery, 2011, pages 8-10). June 2012, McCall lost his U.S. Supreme Court bid to overturn his conviction and 10-year prison sentence for securities fraud.