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Tag: Securities Fraud

Ex-Millennium Fund Manager Balboa’s Bond Fraud Trial Starts

(Bloomberg) Ex-Millennium Global Investments Ltd. portfolio manager Michael Balboa’s securities-fraud trial, in which he is accused of participating in a scheme involving Nigerian sovereign debt, began in federal court in New York. Balboa, who worked at Millennium from December 2006 to October 2008, was named in an indictment unsealed in March. He is charged with…
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SEC halts trading in dozens of stocks

(MoneyWatch) The Securities and Exchange Commission on Monday halted trading in the shares of 61 companies, part of a crackdown in so-called empty shell companies. The SEC’s “Operation Shell Expel” is intended to tackle manipulation of small, publicly traded companies that are dormant and thus become ripe for fraud. Because such firms are so thinly…
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