The Tabb Group, a New York-based market consulting and advisory firm, cites in a recent report two reasons the spirit of Madoff continues in the securities business: In 2011, the FBI launched about 1,000 inquiries into possible fraud schemes, and the Securities and Exchange Commission has been ramping up its probes of companies and institutions suspected of fraud."These two tidbits of information would suggest that even in the aftermath of the largest Ponzi scheme ever seen, investors and institutions must remain aware that fraud is still prevalent," according to Joel Cohen of Kinetic Partners, the author of the report.
A LoopNet insider has dumped shares as federal regulators continue to probe the company's proposed tie-up with rival CoStar, raising red flags for shareholders wondering whether the deal will get approval.
LoopNet's head of product and business development, Frederick Saint, cashed out half his stock, or 25,000 shares, on Feb. 29 for a total of $460,000, according to a regulatory filing