Company Cofounded by Paul Pelosi Jr. Charged with Securities Fraud

Nancy Pelosi

The Securities and Exchange Commission (SEC) charged a company cofounded by Paul Pelosi Jr. with fraud on Wednesday after learning that two convicted criminals were running the business.

Paul Pelosi Jr., the son of House Minority Leader Nancy Pelosi (D., Calif.), was the president and chief operating officer of Natural Blue Resources Inc., an investment company he cofounded that focuses on “environmentally-friendly” ventures.

Cuban Defeats SEC

Dallas Mavericks owner Mark Cuban was found not guilty of insider trading Wednesday in a civil case brought to court by the Securities and Exchange Commission (SEC).

NY Bans Fund Manager Philip Falcone from Insurance Unit

Hedge fund manager Philip Falcone, banned from the securities industry for five years by U.S. regulators, is also being banned for seven years from decision-making roles at Fidelity & Guaranty Life Insurance, a unit of his firm, New York officials said on Monday.