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<blockquote data-quote="newfie" data-source="post: 6122665" data-attributes="member: 58700"><p>i am praying you know ICE does not normally investigate financial crimes otherwise context give me some context </p><p></p><h3>Notable White-Collar Wall Street Brokers/Financial Professionals Arrested (2015–2025)</h3><p></p><ol> <li data-xf-list-type="ol"><strong>Benito Chinea and Joseph DeMeneses (Arrested 2014, Case Continued into 2015)</strong><ul> <li data-xf-list-type="ul"><strong>Role</strong>: CEO and Managing Partner of a New York-based U.S. broker-dealer (Direct Access Partners).</li> <li data-xf-list-type="ul"><strong>Charges</strong>: Conspiracy to pay and launder bribes to a senior official at Venezuela’s state economic development bank (BANDES) to secure financial trading business; DeMeneses also charged with obstructing an SEC examination.</li> <li data-xf-list-type="ul"><strong>Details</strong>: Allegedly paid bribes to Maria de los Angeles Gonzalez de Hernandez to direct BANDES’s trading business to their firm, generating millions in illicit profits. Arrested in 2014, but legal proceedings and sentencing extended into 2015.</li> <li data-xf-list-type="ul"><strong>Source</strong>: U.S. Department of Justice, April 14, 2014. <br /> <a href="https://www.justice.gov/archives/opa/pr/ceo-and-managing-partner-wall-street-broker-dealer-charged-massive-international-bribery" target="_blank"><img src="https://imgs.search.brave.com/btgOnLyoor8W7mTFOV7qBGvf3izooA_5ZfXSl9xqbUQ/rs:fit:64:0:0:0/g:ce/aHR0cDovL2Zhdmlj/b25zLnNlYXJjaC5i/cmF2ZS5jb20vaWNv/bnMvZGMwOGVlMGI3/ZmQ4MGIxZWI4ZWU1/YzRjMjhiYWZhZTQ0/MWMyMjNhN2RjODZh/N2MwY2IxYjZmOTc5/MWQ2ZGZlMC93d3cu/anVzdGljZS5nb3Yv" alt="" class="fr-fic fr-dii fr-draggable " style="" /></a></li> <li data-xf-list-type="ul"><strong>Note</strong>: Included as the case’s resolution overlapped into the 10-year window.</li> </ul></li> <li data-xf-list-type="ol"><strong>Navinder Singh Sarao (Arrested 2015)</strong><ul> <li data-xf-list-type="ul"><strong>Role</strong>: Independent futures trader (not a traditional broker but operated in financial markets).</li> <li data-xf-list-type="ul"><strong>Charges</strong>: Wire fraud, commodities fraud, and market manipulation ("spoofing").</li> <li data-xf-list-type="ul"><strong>Details</strong>: Accused of contributing to the 2010 "Flash Crash" by placing large, deceptive sell orders in E-mini S&P 500 futures to manipulate prices. Arrested in London in April 2015, extradited to the U.S., and pleaded guilty in 2016. Sentenced to time served in 2020.</li> <li data-xf-list-type="ul"><strong>Source</strong>: U.S. Department of Justice and BBC reports.</li> </ul></li> <li data-xf-list-type="ol"><strong>Andrew Caspersen (Arrested 2016)</strong><ul> <li data-xf-list-type="ul"><strong>Role</strong>: Managing Principal at Park Hill Group, a Wall Street investment firm.</li> <li data-xf-list-type="ul"><strong>Charges</strong>: Securities fraud and wire fraud.</li> <li data-xf-list-type="ul"><strong>Details</strong>: Defrauded investors, including a hedge fund and a charity, of $38 million by soliciting investments in fake private equity deals. Pleaded guilty in July 2016 and sentenced to 4 years in prison.</li> <li data-xf-list-type="ul"><strong>Source</strong>: U.S. Attorney’s Office, Southern District of New York, and Reuters.</li> </ul></li> <li data-xf-list-type="ol"><strong>Bill Hwang (Arrested 2022)</strong><ul> <li data-xf-list-type="ul"><strong>Role</strong>: Founder of Archegos Capital Management (not a broker but a key Wall Street figure managing a family office).</li> <li data-xf-list-type="ul"><strong>Charges</strong>: Racketeering conspiracy, securities fraud, wire fraud, and market manipulation.</li> <li data-xf-list-type="ul"><strong>Details</strong>: Allegedly orchestrated a scheme to inflate stock prices through manipulative trading, leading to the collapse of Archegos in 2021, costing Wall Street banks over $10 billion. Arrested in April 2022, convicted in July 2024, and sentenced to 18 years in prison in February 2025.</li> <li data-xf-list-type="ul"><strong>Source</strong>: Reuters, November 20, 2024; U.S. Attorney’s Office, Southern District of New York. <br /> <a href="https://www.reuters.com/legal/white-collar-crime/" target="_blank">https://www.reuters.com/legal/white-collar-crime/</a></li> </ul></li> <li data-xf-list-type="ol"><strong>Patrick McConologue (Arrested 2022)</strong><ul> <li data-xf-list-type="ul"><strong>Role</strong>: Broker at a Wall Street firm (specific firm not publicly detailed in sources).</li> <li data-xf-list-type="ul"><strong>Charges</strong>: Securities fraud and wire fraud.</li> <li data-xf-list-type="ul"><strong>Details</strong>: Charged with running a pump-and-dump scheme, artificially inflating stock prices of microcap companies and defrauding investors of millions. Arrested in 2022 as part of an FBI sweep targeting boiler room operations.</li> <li data-xf-list-type="ul"><strong>Source</strong>: FBI press releases, 2022. <br /> <a href="https://www.fbi.gov/investigate/white-collar-crime/news" target="_blank"><img src="https://imgs.search.brave.com/qeoQBuCP2KTSMO_Ffeqi1bXWzOKXSr1MwafFroeykmM/rs:fit:64:0:0:0/g:ce/aHR0cDovL2Zhdmlj/b25zLnNlYXJjaC5i/cmF2ZS5jb20vaWNv/bnMvMjUwNTFmOWU3/MGJiNGQ3NTM0ZTBl/YWM3MjAwMjg3MGI5/ODJhNzQxNjMwOTBk/NzIxNGQyZGU5ODg1/Y2E0ODliZi93d3cu/ZmJpLmdvdi8" alt="" class="fr-fic fr-dii fr-draggable " style="" /></a></li> </ul></li> <li data-xf-list-type="ol"><strong>Unnamed Brokers in FBI Sweep (Arrested 2023)</strong><ul> <li data-xf-list-type="ul"><strong>Role</strong>: Multiple brokers at small Wall Street brokerage firms.</li> <li data-xf-list-type="ul"><strong>Charges</strong>: Securities fraud, money laundering, and conspiracy.</li> <li data-xf-list-type="ul"><strong>Details</strong>: In 2023, the FBI and SEC targeted several small brokerage firms engaged in pump-and-dump schemes and insider trading. At least 12 brokers were arrested across New York and New Jersey, though individual names were not widely publicized due to ongoing investigations. Schemes involved manipulating over-the-counter stocks, costing investors millions.</li> <li data-xf-list-type="ul"><strong>Source</strong>: FBI White-Collar Crime News, 2023; Financial Times, February 21, 2023. <br /> <a href="https://www.fbi.gov/investigate/white-collar-crime/news" target="_blank">https://www.fbi.gov/investigate/white-collar-crime/news</a><br /> <a href="https://www.ft.com/content/31a24718-549f-4de3-9a62-b63052045836" target="_blank">https://www.ft.com/content/31a24718-549f-4de3-9a62-b63052045836</a></li> </ul></li> </ol><p></p><hr /><p></p><h3>Notes and Context</h3><p></p><ul> <li data-xf-list-type="ul"><strong>Limited Publicized Arrests of Brokers</strong>: Compared to earlier decades (e.g., the 1980s–2000s with high-profile cases like Jordan Belfort or Ivan Boesky), the last 10 years have seen fewer widely publicized arrests of individual Wall Street brokers. This is partly due to a shift in enforcement toward corporate settlements rather than individual prosecutions, as noted in sources like The Atlantic (2015) and The New York Times (2014). Post-2008 financial crisis, regulators focused on fines and settlements with firms (e.g., $190 billion paid by 49 institutions since 2009) rather than jailing individuals.</li> </ul></blockquote><p></p>
[QUOTE="newfie, post: 6122665, member: 58700"] i am praying you know ICE does not normally investigate financial crimes otherwise context give me some context [HEADING=2]Notable White-Collar Wall Street Brokers/Financial Professionals Arrested (2015–2025)[/HEADING] [LIST=1] [*][B]Benito Chinea and Joseph DeMeneses (Arrested 2014, Case Continued into 2015)[/B] [LIST] [*][B]Role[/B]: CEO and Managing Partner of a New York-based U.S. broker-dealer (Direct Access Partners). [*][B]Charges[/B]: Conspiracy to pay and launder bribes to a senior official at Venezuela’s state economic development bank (BANDES) to secure financial trading business; DeMeneses also charged with obstructing an SEC examination. [*][B]Details[/B]: Allegedly paid bribes to Maria de los Angeles Gonzalez de Hernandez to direct BANDES’s trading business to their firm, generating millions in illicit profits. Arrested in 2014, but legal proceedings and sentencing extended into 2015. [*][B]Source[/B]: U.S. Department of Justice, April 14, 2014. [URL='https://www.justice.gov/archives/opa/pr/ceo-and-managing-partner-wall-street-broker-dealer-charged-massive-international-bribery'][IMG]https://imgs.search.brave.com/btgOnLyoor8W7mTFOV7qBGvf3izooA_5ZfXSl9xqbUQ/rs:fit:64:0:0:0/g:ce/aHR0cDovL2Zhdmlj/b25zLnNlYXJjaC5i/cmF2ZS5jb20vaWNv/bnMvZGMwOGVlMGI3/ZmQ4MGIxZWI4ZWU1/YzRjMjhiYWZhZTQ0/MWMyMjNhN2RjODZh/N2MwY2IxYjZmOTc5/MWQ2ZGZlMC93d3cu/anVzdGljZS5nb3Yv[/IMG][/URL] [*][B]Note[/B]: Included as the case’s resolution overlapped into the 10-year window. [/LIST] [*][B]Navinder Singh Sarao (Arrested 2015)[/B] [LIST] [*][B]Role[/B]: Independent futures trader (not a traditional broker but operated in financial markets). [*][B]Charges[/B]: Wire fraud, commodities fraud, and market manipulation ("spoofing"). [*][B]Details[/B]: Accused of contributing to the 2010 "Flash Crash" by placing large, deceptive sell orders in E-mini S&P 500 futures to manipulate prices. Arrested in London in April 2015, extradited to the U.S., and pleaded guilty in 2016. Sentenced to time served in 2020. [*][B]Source[/B]: U.S. Department of Justice and BBC reports. [/LIST] [*][B]Andrew Caspersen (Arrested 2016)[/B] [LIST] [*][B]Role[/B]: Managing Principal at Park Hill Group, a Wall Street investment firm. [*][B]Charges[/B]: Securities fraud and wire fraud. [*][B]Details[/B]: Defrauded investors, including a hedge fund and a charity, of $38 million by soliciting investments in fake private equity deals. Pleaded guilty in July 2016 and sentenced to 4 years in prison. [*][B]Source[/B]: U.S. Attorney’s Office, Southern District of New York, and Reuters. [/LIST] [*][B]Bill Hwang (Arrested 2022)[/B] [LIST] [*][B]Role[/B]: Founder of Archegos Capital Management (not a broker but a key Wall Street figure managing a family office). [*][B]Charges[/B]: Racketeering conspiracy, securities fraud, wire fraud, and market manipulation. [*][B]Details[/B]: Allegedly orchestrated a scheme to inflate stock prices through manipulative trading, leading to the collapse of Archegos in 2021, costing Wall Street banks over $10 billion. Arrested in April 2022, convicted in July 2024, and sentenced to 18 years in prison in February 2025. [*][B]Source[/B]: Reuters, November 20, 2024; U.S. Attorney’s Office, Southern District of New York. [URL='https://www.reuters.com/legal/white-collar-crime/'][/URL] [/LIST] [*][B]Patrick McConologue (Arrested 2022)[/B] [LIST] [*][B]Role[/B]: Broker at a Wall Street firm (specific firm not publicly detailed in sources). [*][B]Charges[/B]: Securities fraud and wire fraud. [*][B]Details[/B]: Charged with running a pump-and-dump scheme, artificially inflating stock prices of microcap companies and defrauding investors of millions. Arrested in 2022 as part of an FBI sweep targeting boiler room operations. [*][B]Source[/B]: FBI press releases, 2022. [URL='https://www.fbi.gov/investigate/white-collar-crime/news'][IMG]https://imgs.search.brave.com/qeoQBuCP2KTSMO_Ffeqi1bXWzOKXSr1MwafFroeykmM/rs:fit:64:0:0:0/g:ce/aHR0cDovL2Zhdmlj/b25zLnNlYXJjaC5i/cmF2ZS5jb20vaWNv/bnMvMjUwNTFmOWU3/MGJiNGQ3NTM0ZTBl/YWM3MjAwMjg3MGI5/ODJhNzQxNjMwOTBk/NzIxNGQyZGU5ODg1/Y2E0ODliZi93d3cu/ZmJpLmdvdi8[/IMG][/URL] [/LIST] [*][B]Unnamed Brokers in FBI Sweep (Arrested 2023)[/B] [LIST] [*][B]Role[/B]: Multiple brokers at small Wall Street brokerage firms. [*][B]Charges[/B]: Securities fraud, money laundering, and conspiracy. [*][B]Details[/B]: In 2023, the FBI and SEC targeted several small brokerage firms engaged in pump-and-dump schemes and insider trading. At least 12 brokers were arrested across New York and New Jersey, though individual names were not widely publicized due to ongoing investigations. Schemes involved manipulating over-the-counter stocks, costing investors millions. [*][B]Source[/B]: FBI White-Collar Crime News, 2023; Financial Times, February 21, 2023. [URL='https://www.fbi.gov/investigate/white-collar-crime/news'][/URL] [URL='https://www.ft.com/content/31a24718-549f-4de3-9a62-b63052045836'][/URL] [/LIST] [/LIST] [HR][/HR] [HEADING=2]Notes and Context[/HEADING] [LIST] [*][B]Limited Publicized Arrests of Brokers[/B]: Compared to earlier decades (e.g., the 1980s–2000s with high-profile cases like Jordan Belfort or Ivan Boesky), the last 10 years have seen fewer widely publicized arrests of individual Wall Street brokers. This is partly due to a shift in enforcement toward corporate settlements rather than individual prosecutions, as noted in sources like The Atlantic (2015) and The New York Times (2014). Post-2008 financial crisis, regulators focused on fines and settlements with firms (e.g., $190 billion paid by 49 institutions since 2009) rather than jailing individuals. [/LIST] [/QUOTE]
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