Tag Archives: fraud
Texas appeals court exempts Delay of money laundering
His political career collapsed in 2005 when Tom DeLay, a Texas Republican who was the House majority leader, was indicted on money-laundering charges that resulted in a three-year prison sentence. http://www.nytimes.com/2013/09/20/us/politics/conviction-of-delay-in-texas-donation-case-is-overturned.html?ref=us Thursday as a Texas appeals court threw out the November 2010 verdict, ruling that what he was convicted of — laundering corporate contributions […]
Banksters JPMorgan faces criminal and civil investigations
JPMorgan Chase disclosed on Wednesday that it faced a criminal and civil investigation into whether it sold shoddy mortgage securities to investors in the run-up to the financial crisis. The civil investigation found JPMorgan flouted federal laws with its sale of subprime mortgage securities from 2005 to 2007. http://dealbook.nytimes.com/2013/08/07/jpmorgan-reveals-it-faces-civil-and-criminal-inquiries/?emc=eta1 The parallel criminal inquiry, according to […]
Hedge fund king escapes SEC charges
The recent SEC settlements spare SAC’s founder, the billionaire Steven A. Cohen, who hasn’t been charged with wrongdoing. Mr. Cohen, one of the most successful hedge fund managers in the world, has long been considered a target of federal investigators. SAC Capital, the giant hedge fund, settled insider trading charges with the Securities and Exchange […]
Illinois defrauds investors and bilks pensioners
For the second time in history, federal regulators have accused an American state of securities fraud, finding that Illinois misled investors about the condition of its public pension system from 2005 to 2009. Illinois claimed that it had been properly funding public workers’ retirement plans when it had not. http://www.nytimes.com/2013/03/12/business/sec-accuses-illinois-of-securities-fraud.html?ref=us In particular, it cited the […]
Dirty Babylon 