Tag:
Kickbacks
Latest Headlines
Latest Headlines
Bank of America settles muni-bond fraud charges
Given all of the recent enforcement activity, it was easy to lose sight of the ongoing municipal bond proceed scandal. So far, eight former bankers and advisers, including those who worked at the likes of JPMorgan Chase and Bank of America, have pleaded guilty to various frauds involved in rigging
Will any top Wall Street executives be prosecuted individually?
"We have seen very little in the way of senior officer or boardroom-level prosecutions of the people on Wall Street who brought this country to the brink of financial ruin. Why is that?" So asked Sen. Ted Kaufman at a recent hearing. It's a question on the minds of many. Some are angry. Others
Smalltime pay-to-play scammer busted; FBI sting set up
We've heard a lot about the pay-to-play scandal that has erupted in the pension world ( pension news), where kickbacks to plugged-in, often conflicted consultants have stoked the ire of regulators and prompted reform proposals. Sometimes the pay-to-play attempts are even more brazen. And all wo
Stock loan trader charged
The boom in short selling ( short selling news) prior to the financial crisis led to a fairly severe shortage of stock to be loaned, which gave rise to a rough-and-tumble cottage industry on Wall Street that seemed at times almost Mafioso. Stock loan finders flourished, and they were held almos
The real culprit in Carlyle pension mess?
The Carlyle suffered a big ugly blemish when it agreed to pay $20 million to settle charges of improper pension fund dealings by New York AG Andrew Cuomo. It will also stop paying fees to shady intermediaries who gather assets for it.
But Cuomo said "most of the objectionable activities" were
Defending pension fund middlemen
Is the angst about those shadowy middlemen that place pension money with specific funds tainting legitimate industry consultants? It seems that way to the Blackstone Group. Bloomberg notes that Blackstone's Park Hill unit "has raised $104.2 billion for 65 funds since its creation in 2005."
More on pay-to-play in the PE industry
New York Attorney General Andrew Cuomo is taking a look at some big-name private equity funds and whether they engaged in pay-to-play shenanigans with state investments, the Washington Post reports. The news follows a move by Cuomo and the SEC to file criminal and civil charges last month agai
Ex-Morgan Stanley exec convicted in stock loan scheme
The mania-like urge to short stocks last year led to some big shortages in borrow-able stocks and created a shady cottage industry aimed at filling the need. Stock-loan finders sought to help the broker dealers locate inventories of a stock and match borrowers and lenders.
Darren DeMizio, form
Biovail's case for short conspiracy debunked?
Recall that in early 2006, Biovail filed a $4.6 billion suit that charged 24 hedge funds and research analysts with engaging in a scheme to push the company's stock with lies and planted stories in the media. The debate was widely covered, and ensnared some really big names, such as SAC Capita
