05/30/2012
The operations led by liquidator Irving Picard, the New York attorney in charge of recovering the huge sums cheated by now-jailed Wall Street high-flyer Bernie Madoff are burning up the cash almost as fast as they can recover it, a new report on his websi
05/30/2012
Dewey had warned employees earlier this month of the possibility the firm may shut down, and a person familiar with the matter had told Reuters that the firm was considering a bankruptcy filing.
05/30/2012
But thanks in part to a courageous whistleblower, former Brown & Williamson executive Jeffrey Wigand, Big Tobacco finally had its day of reckoning, and eventually agreed to an omnibus settlement of $206 billion – the largest settlement ever at t
05/29/2012
The SEC alleges that since at least November 2011, Jason J Konior and his firms raised approximately USD11 million by selling investors limited partnership interests in Absolute Fund LP, an investment vehicle that Konior claimed had USD220 million in trad
05/29/2012
The largest German bank is facing numerous charges of defrauding its customers and contributing to the US housing market bubble by marketing complex mortgage and financial products that concealed the risks involved.
05/28/2012
A judge found RBS’s main witness, Mr Griffiths, had “unclean hands” that were “relevantly grimy”.
05/24/2012
The Securities and Exchange Commission has charged two individuals who provided the biggest influx of investor funds into one of the largest-ever Ponzi schemes in South Florida.
05/23/2012
Shah also pleaded guilty to one count of securities fraud.
05/23/2012
Another member of the team that prosecuted Raj Rajaratnam in the largest-ever insider trading case is heading to private practice.
05/22/2012
The move, which allowed the bank to disguise the level of risk that the CIO was taking in its trading, could become a major focal point of investigations by the U.S. Securities and Exchange Commission and the FBI, for mer regulators said.
05/22/2012
He was indicted in 2007 and accused of conspiring with officers at two companies, Xybernaut Corp and Ramp Corp, to commit a $55 million stock-fraud scheme.
05/21/2012
The SEC alleges that Spangler, 57, who was Napfa chairman in 1998, funneled the money into these private ventures despite telling clients that he would invest primarily in publicly traded securities.
05/18/2012
U.S. Senate Banking Committee Chairman Tim Johnson said in a statement on Thursday that his panel will invite Dimon to appear before Congress.
05/17/2012
If the SEC were to file civil charges, it would be its first enforcement action against hedge funds related to CDOs
05/16/2012
Robert Giuffra, a lawyer for Bank of America Corp and Societe Generale, made the argument in his opening statement in a case the banks brought against MBIA and the state insurance department to overturn the 2009 restructuring.
05/16/2012
Each case will be will be tried individually, U.S. District Court Judge Denise Cote wrote in an order Tuesday.
05/15/2012
The city currently deposits money at 31 banks — among them JPMorgan Chase, Citibank, Bank of America, Capital One, Deutsche Bank, HSBC and Wells Fargo — chosen for their financial soundness and ratings by federal and state agencies.
05/15/2012
The banks are the only two plaintiffs remaining of 18 that sued MBIA and then-New York state Insurance Commissioner Eric Dinallo in 2009.
05/14/2012
Swiss banks can’t agree on the terms of a settlement with the U.S., Tages-Anzeiger reported earlier today, without saying where it got the information.
05/11/2012
Claimants sought $7,000,000.00 in compensatory damages, $14,000,000 in punitive damages, interest, attorneys’ fees; costs; and expenses.