Memorable Investment Scandals
Rapper 50 Cent raised eyebrows with his recent Twitter posts that suggested followers buy stock in a little-known company. But he’s not the first to capture headlines.
Rapper-actor 50 Cent raised eyebrows with his Twitter posts recently suggesting followers buy stock in a little-known company he happens to owns shares in.His questionable tweets aren’t the first investment scandal to capture news headlines.
Martha Stewart scandal
The decorating queen was convicted of conspiracy for her role in an insider trading scandal at a biopharmaceutical company.
Bernie Madoff scandal
The former stockbroker was behind one of the biggest economic fraud cases in history.
Charles Ponzi scandal
The Italian-born immigrant moved to the United States in 1903 and went on to swindle investors out of millions.
Allen Stanford scandal
The mustachioed Texas businessman is awaiting trial on charges of stealing billions from investors.
Lawrence Salander scandal
The former art dealer pleaded guilty last year to bilking art collectors out of millions.
Galleon Group scandal
Several people (including one with a James Bond-style nickname) were arrested in connection with the insider trading scandal in 2009.
Agape World scandal
Founder Nicholas Cosmo was arrested in 2009 and charged with stealing millions from investors.
Bear Stearns scandal
The 85-year-old investment bank went bankrupt during the 2008 financial crisis amid charges of fraud and insider trading.
Ivar Kreuger scandal
Kreuger was a Swedish financier known as the Match King who was brought down by the 1929 stock market crash.
Michael Milken scandal
The former “Junk Bond King” pleaded guilty to securities fraud in 1990 and served two years in prison.
Ivan Boesky scandal
The notorious stock trader appeared on the cover of Time magazine before pleading guilty to fraud in 1987.
Petters Group scandal
Prominent Minnesota businessman Tom Petters was convicted of stealing possibly billions from investors in 2009.
WG Trading scandal
The hedge fund’s top executives were charged with bilking investors out of millions. (One later pleaded guilty.)
Bayou Hedge Fund scandal
The hedge fund’s top two executives pleaded guilty to fraud and conspiracy in 2005.