NEW YORK (Reuters) - Federal prosecutors said Tom Petters should be sentenced to 335 years in prison for running a $3.65 billion Ponzi scheme, while defense lawyers pleaded for mercy, saying their client has a tumor on his pituitary gland. The 52-year-old founder of Petters Group Worldwide Inc was convicted in December by a federal jury in St. Paul, Minnesota ...

NEW YORK (Reuters) - The judge overseeing the liquidation of Ponzi schemer Bernard Madoff's investment firm has allowed victims unhappy with his ruling on how to calculate their losses to appeal directly to a federal appeals court. Monday's ruling by Bankruptcy Judge Burton Lifland means shorter waits for victims waiting for court-appointed trustee Irving Picard to rule on their ...

The Securities and Exchange Commission charged a prominent Miami couple Wednesday with operating a $135 million Ponzi scheme through a real estate investment scam that defrauded hundreds of people, mostly elderly Cuban-Americans. The SEC complaint filed in Miami federal court claims that Gaston Cantens, 71, and his wife ...

A former vice president of California chipmaker Atheros Communications has pleaded guilty to insider trading charges. Ali Hariri becomes the 10th person to plead out of the largest hedge fund insider trading case in U.S. history. Hariri entered the plea Wednesday in Manhattan federal court ...