Policy failed to cover hedge fund investment that turned out to be a fraud
Scheme targeted "mom and pop" investors, court said
Court orders prison, restitution for misappropriating investors' money
Investors lost $9.8M on investment that turned out to be a fraud
SEC, DoJ allege that scheme started on social media
Investors' funds misappropriated, used to pay returns, authorities say
Scheme promised investors high returns from algorithmic trading strategy
Trader admitted to promising outsized returns, duping investors
FCA alleged fund that promised outlandish returns was actually just a scam
Ex-trader faces fraud charges over scheme that promised to front run Berkshire's stock picks