Ex-LA Broker Convicted In $200M Portfolio Pumping Scheme
Law360 (July 12, 2019, 11:22 PM EDT) -- A California federal jury convicted a former Beverly Hills stockbroker Friday of participating in a stock price manipulation scheme that fraudulently pumped up the reported profits of hedge funds and caused investors to lose $200 million, the U.S. Attorney’s Office announced.
Following a 17-day trial, the jury convicted Todd Michael Ficeto, 52, of conspiracy to commit securities fraud and wire fraud, securities fraud, investment adviser fraud and money laundering conspiracy, among other charges, the office's press release states.
Ficeto was once the president of Beverly Hills-based broker-dealer Hunter World Markets, which he co-owned with Florian Wilhelm Jürgen Homm, who was also indicted...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!