Free Republic

NORFOLK, Va. – A Florida woman was sentenced today to 10 years in prison and ordered to pay over $25 million in restitution for engaging in an investment fraud conspiracy that victimized over 300 investors and caused approximately $25 million in losses.“Raeann Gibson and her co-conspirators orchestrated and facilitated a massive scheme to defraud mostly elderly investors of approximately $25 million,” said G. Zachary Terwilliger, U.S. Attorney for the Eastern District of Virginia. “In the end, Gibson and her co-conspirators left a wake of financial devastation that wiped out hundreds of vulnerable victims located throughout the country, including massive...

Prices drop as European Union sticks to 2020 emissions targetLONDON (MarketWatch) -- The price of European carbon emission permits dropped nearly 9% Monday after climate talks in Copenhagen resulted in an accord that fell short of initial expectations.Emission allowances for December 2010 delivery fell to 12.77 euros a ton Monday, from Friday's settlement price of 13.58 euros. The contract earlier dropped as much as 8.7% to 12.40 euros a ton. Emission allowances haven't traded that low in more than six months. The decline came after the United Nation's Copenhagen summit acknowledged a U.S.-led accord to combat climate change and prevent...

NEW YORK (CNN/Money) - Authorities announced charges Wednesday against 47 people, including traders from some of Wall Street's best-known firms, in a foreign currency trading scandal that officials say defrauded investors of millions of dollars...[snip] Meanwhile, the Securities and Exchange Commission also filed separate charges of fraud in federal court against Wall Street currency trader United Currency Group Inc. and its CEO, Adam Swickle, Wednesday...[snip] The defendants, he said, were part of the multimillion-dollar scheme that spanned all levels of the currency-trading market, from top traders down to "boiler-room operations," where financial professionals make phone calls to solicit individual investors......