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Rajaratnam's ties to Tamil Tigers
The saga of convicted insider trading mastermind Raj Rajaratnam just took an interesting twist in the form of a Vanity Fair article that explores his past as a major funder of the Tamil Tigers, which had been declared a terrorist organization by the U.S. State Department.
The timing of the
Club deals suit gathers steam
The heyday of the private equity industry has long passed. But the era of blockbuster deals--too big for single firms--lives on in the courts. And the premier private equity funds were dealt a blow by a recent court decision that expands an antitrust lawsuit against private equity firms that engag
Danielle Chiesi to land in jail
One of the most colorful characters in the Raj Rajaratnam criminal insider trading scandal will go to prison for her considerable role in various crimes.
Danielle Chiesi, who pleaded guilty to fraud charges, was sentenced to 30 months in prison by a federal judge in Manhattan. She was also giv
FDIC vs. JPMorgan, taxpayers in the balance
Is JPMorgan (NYSE: JPM ) trying to wiggle out of its Washington Mutual obligations? That's how some critics see it. Recall that the bank, led by hard-charging CEO Jamie Dimon, bought the Seattle thrift for $2 billion in a deal brokered by the FDIC. At the time some thought it was a coup. But th
Fabrice Tourre loses bid to drop SEC suit; trial to proceed?
A case of bad timing for Fabrice "Fab" Tourre, who was the lone individual fingered by the SEC in the ABACUS fiasco and who has yet to settle. He was dealt a blow when federal judge Barbara Jones nixed his attempt to have the SEC charges against him disallowed.
His lawyers argued that a Suprem
Hot tub meeting puts Bank of America on trial
Bank of America (NYSE: BAC ) thought it won a legal victory when a federal judge in Virginia ruled that the banks did not have to stand trial for its role in a real estate scam that victimized school teachers in Fairfax County, Va. But the revelation of a hot tub meeting involving a Bank of Ame
A blow to the "Paulson made me do it" defense?
One theme in the many shareholder criticisms of how Bank of America handled the Merrill Lynch purchase was that then-CEO Ken Lewis had fielded a lucrative bailout package from then Treasury Secretary Henry Paulson to prod the bank to close its deal for Merrill Lynch.
That bailout proposal shou
Judge ponders wiretaps in Rajaratnam insider trading case
The insider trading case of Raj Rajaratnam ( Raj Rajaratnam news ) seems to have arrived at a pivotal moment. A federal judge is considering whether the prosecution can rely on evidenced gleaned from wiretaps.
The use of wiretaps in this case was notable because it had never been used before
Goldman Sachs sees a way to SEC settlement?
We've noted that both Goldman Sachs ( NYSE: GS ) and the SEC ( SEC news) have their lines in the sand. Goldman Sachs cannot admit to fraud for reasons well-known. The SEC cannot afford to be seen as weak on crime and risk having a settlement denied by a federal judge, which happened with Judg
Still no Goldman Sachs, SEC settlement
Not too long ago, it seemed that Goldman Sachs ( NYSE: GS ) and the SEC ( SEC news) were moving quickly toward a settlement . But CNBC now suggests that the same old sticking point has yet to be resolved.
Goldman Sachs' line in the sand is that it cannot admit to fraud in anyway. B
