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Recall that Ralph Cioffi and Matthew Tannin, portfolio managers of the two Bear Stearns hedge funds that collapsed a little over a year... Read more...
The news that Citigroup and Merrill Lynch will reimburse individual investors burned by auction rate securities to the tune of $17 billion is certainly eye-catching. The New York Times notes that the... Read more...
At first glance, the news that the New York state attorney general is prepared to charge Citi with fraud regarding its auction rate securities practices is similar to... Read more...
Nothing whips up state securities regulators more than petty scams against their citizens. They live to crack down on these things. So it's really bad news for Wachovia... Read more...
Samuel Israel riveted the industry for a few weeks. He got more coverage for faking his suicide and going on the run--on the day he was supposed to begin a long prison term--than for the massive Read more...
There is a seamy side to the hedge fund industry. Kirk Wright stands as a prime example. He was once a hedge-fund-manager-to-the-stars kind of celebrity. He was convicted of fraud last week and... Read more...
Remember the thrift crisis? Few people predicted the decimation of the S&L industry in the late 1980s and 1990s. Many went under due to imprudent real estate lending and, in some big-name cases,... Read more...
Law enforcement officials have announced arrest of two Florida residents, Paul Gunter and his daughter Zibiah, for fraud and money laundering in relation to an alleged boiler room scheme that is... Read more...
This is a tough spot for a bank. Wachovia has long denied that it knew anything about the fraudulent tendencies of certain telemarketing. But the New York Times reports that "newly released... Read more...