Andrew Caspersen, a former Wall Street executive, pleaded guilty to federal charges that he defrauded investors of nearly $40 million. Caspersen, accompanied by his attorney, pleaded guilty in a Manhattan federal courtroom to one charge of wire fraud and one charge of securities fraud, each of which carries a maximum penalty of 20 years in…

A Manhattan judge sentenced a hedge fund manager to probation rather than prison for securities fraud, saying that the defendant had taken responsibility for his crimes quickly. U.S. District Judge Robert Sweet sentenced Owen Li, the founder of Canarsie Capital LLC, to probation. The judge earlier indicated that he was likely to give Li a…

Charges for crimes such as credit card fraud, identity theft, and other Internet crimes are becoming more common. Police say that the occurrence of such crimes has risen, and prosecutors have increased their focus on these charges. Manhattan district attorney Cyrus R. Vance Jr. said that identity theft and Internet crime make up one quarter…

A father and son are facing criminal and securities charges over allegedly fraudulent investments in Native American tribal bonds. The U.S. Attorney’s office announced criminal charges against Jason and John Galanis and five other individuals. In a parallel action, the U.S. Securities and Exchange Commission (SEC) charged the same individuals with fraud, alleging that they…