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  • +7

    4 Settle SEC Claims Against Defunct Pa. Firm

    4 Settle SEC Claims Against Defunct Pa. Firm
    PITTSBURGH - Three former officers of a defunct Pittsburgh-area medical staffing company and an attorney who worked for them have agreed to settle stock fraud claims filed by the Securities and Exchange Commission. The settlements, signed by all four participants in the World Health Alternatives Inc. case, must be approved by a federal judge, SEC attorney David Horowitz said Tuesday. The ...
    Rated: +7
  • +1

    SEC Accuses Houston Broker of Churning Accounts

    SEC Accuses Houston Broker of Churning Accounts
    Dec. 30--Federal securities regulators charged a Houston broker Tuesday with defrauding two municipalities in Florida. The Securities and Exchange Commission alleges Harold Jaschke, 49, churned the accounts of the city of Kissimmee and the Tohopekaliga Water Authority to make about $14.2 million in commissions. Churning is a fraudulent practice in which a broker makes excessive trades to generate commissions and other ...
    Rated: +1
  • +3

    Explain Madoff, Expose Wall Street

    Explain Madoff, Expose Wall Street
    The following editorial appeared in the Seattle Times on Thursday, Jan. 7: ___ Call it The Exposition of Bernard Madoff. Understanding the failings and failures that allowed his $65 billion Ponzi scheme to survive and flourish should be part of the learning curve toward regulating Wall Street and the finance industry. Madoff's 150-year sentence must not be the end of the ...
    Rated: +3
  • -4

    Geithner's NY Fed told AIG to keep quiet on deals

    Geithner's NY Fed told AIG to keep quiet on deals
    WASHINGTON — Controversial deals that sent billions of bailout dollars to Goldman Sachs and other banks were kept quiet under pressure from the Federal Reserve Bank of New York, then led by Treasury Secretary Timothy Geithner. E-mails between lawyers for the New York Fed and bailed-out insurance conglomerate American International Group show AIG wanted to disclose some details about payments it ...
    Rated: -4
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    Democratic Senators Call for Criminal, Civil Charges Over Gulf Oil Spill

    Democratic Senators Call for Criminal, Civil Charges Over Gulf Oil Spill
    With over 5,000 barrels of oil spilling into the Gulf of Mexico every day after the oil well leak on April 20, eight senators are contemplating pressing criminal and civil charges against BP. In the mean time, BP is scrambling to find solutions to what could be considered one of the worst oil spills in U.S. history. BP Plc., Transocean Ltd., and ...
  • +1

    UANI Calls on KPMG to End Its Business in Iran

    UANI Calls on KPMG to End Its Business in Iran
    United Against Nuclear Iran (UANI) on Friday called on KPMG to end its business in Iran and to refuse to provide services to companies that operate in Iran. KPMG is listed on UANI's Iran Business Registry (IBR). According to its website, KPMG maintains an office in Iran. KPMG, since October of 2009, has been seeking to recruit new senior-level employees to ...
    Rated: +1
  • +1

    Madoff Victims Eye SEC, Lawyer Demands Feds Pay for `Bungled' Probes

    Madoff Victims Eye SEC, Lawyer Demands Feds Pay for `Bungled' Probes
    Bernard Madoff whistleblower Harry Markopolos' lawyer is demanding the SEC pay Madoff's victims huge damages for "completely botching" chances to shut the scammer down years ago. "A series of (Madoff investigatory moves) taken by SEC employees . . . were incompetently carried out and an utter failure," Cambridge attorney Gaytri Kachroo told the Herald yesterday as she filed 27 claims for ...
    Rated: +1
  • +5

    Top 10 Athletes Who Should Have Hired a Good Accountant

    Everyone could use a good accountant to help them navigate the world of finance and taxation, but perhaps no segment of the population is in greater need of good money advice than professional athletes. Several pro jocks pull in more than your average CEO, but with a caveat many of them forget or ignore: athletes' careers last ten to fifteen ...
    Rated: +5
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    Few Madoff Victims Reimbursed as Many Await Ruling on Claims

    Few Madoff Victims Reimbursed as Many Await Ruling on Claims
    Only 1,487 of the roughly 16,000 direct investors victimized by Bernard Madoff have received payment for their reimbursement claims, as the first anniversary of his infamous Ponzi scheme nears. And more than one in four of Madoff's burned investors still await decisions on their repayment claims, even as 1,647 claims have been allowed and 9,916 have been denied. The pace of ...
  • -1

    With SEC Waivers, Corporate Lawbreakers Kept Lucrative Businesses Going

    With SEC Waivers, Corporate Lawbreakers Kept Lucrative Businesses Going
    WASHINGTON _ Forget too big to fail. In the eyes of federal regulators, many Wall Street companies are too big to punish. During the past three years, some of the nation's largest financial companies have been accused by the government of cheating or misleading clients and ripping off tens of thousands of consumers of their investments. Despite these findings, these financial ...
    Rated: -1
  • +1

    SEC has Widened Probe Into BofA, Merrill Deal

    SEC has Widened Probe Into BofA, Merrill Deal
    WASHINGTON - The Securities and Exchange Commission has expanded its probe of Bank of America to include possible failure by the bank to disclose mounting losses at Merrill Lynch. The SEC is pursuing civil charges against Bank of America over the failed disclosure to shareholders of bonuses to Merrill employees after it was acquired by the bank. But when Ohio Democratic ...
    Rated: +1
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    City audit: LAPD under Bratton mismanaged millions

    City audit: LAPD under Bratton mismanaged millions
    Dec. 15--The LAPD under former chief William Bratton mismanaged and mishandled millions of dollars of taxpayer money -- violating city policies in buying supplies and hiring vendors, according to an internal department audit. Covering the 2007-2008 fiscal year, the audit revealed serious bungling in the department's purchasing process, which accounts for $60 million in spending annually, KNX News Radio reported Monday. ...
  • -3

    Reports: AIG to pay out $100 million in Bonuses

    Reports: AIG to pay out $100 million in Bonuses
    NEW YORK – American International Group Inc. is set to pay out about $100 million in a fresh round of bonuses to employees of its financial products division, the unit whose risky bets helped sink the company leading to a $180 billion government bailout, according to reports published Tuesday. AIG agreed to cut the retention bonuses by $20 million but will ...
    Rated: -3
  • -2

    Former Lazard Banker Accused of Insider Trading

    Former Lazard Banker Accused of Insider Trading
    SAN FRANCISCO - A former Lazard Freres banker was charged Wednesday with insider trading. Federal prosecutors in San Francisco accused Adnan Zaman of passing along confidential information to friends about clients' merger plans. In addition, the Securities and Exchange Commission filed a civil lawsuit against Zaman and three others who authorities say were involved in the insider trading scheme that began ...
    Rated: -2
  • +2

    Broker Paying $25M to Settle SEC Charges

    Broker Paying $25M to Settle SEC Charges
    WASHINGTON - ICAP Securities USA, the U.S. division of a big British brokerage, agreed Friday to pay $25 million to settle federal regulators' charges that it deceived customers by displaying thousands of phony trades in U.S. Treasury securities on its screens. The Securities and Exchange Commission announced the settlement of civil fraud charges with ICAP Securities USA, which it described as ...
    Rated: +2
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    Facebook Instant Personalization Feature Protested by Privacy Advocates

    Facebook Instant Personalization Feature Protested by Privacy Advocates
    Facebook has found itself in hot water over the last few months with very public changes to its privacy policy that would result in more of a user's personal information being shared with third-party websites. The backtracking on privacy for users of the site has raised the ire of more than one consumer watchdog group and some Senators as well.Senator Schumer sent ...
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    Government to Launch Apple Antitrust Probe

    Government to Launch Apple Antitrust Probe
    If there's one big company that knows to ruffle feathers, it would be Apple.  Apple has filed a  scatter-shot suit against HTC citing patent infringement, trying to slow down Google's Android OS's momentum.  And in the app arena, Apple has been waging a war of words and actions against Adobe's popular Flash medium.Apple has never allowed Flash Player to touch the iPhone - that ...