Corporate Crime
Japan to ask SEC to join insider trading crackdown: sources
TOKYO - Japan's securities regulator plans to ask the U.S. Securities and Exchange Commission (SEC) to cooperate in a widening probe of insider trading in Japanese shares, two sources with knowledge of the situation said on Saturday.
Sentinel ex-CEO, trader indicted for alleged fraud
- Two former executives at Sentinel Management Group Inc were indicted for allegedly defrauding customers out of more than $500 million before the futures brokerage went bankrupt in 2007, federal prosecutors in Chicago said on Friday.
Nasdaq plays tough with clients angry over Facebook
NEW YORK - It's crisis communications 101 for Corporate America: when a company bungles an event as big as the Facebook IPO, alienates customers, and spawns lawsuits and regulatory inquiries, the CEO apologizes and agrees to provide compensation to make things right. Everyone can then move on.
UPDATE 1-US prosecutor in Swiss tax probe to exit
May 31 - The U.S. prosecutor most responsible for piercing the veil of Swiss bank secrecy has resigned, but tax experts said his exit was unlikely to slow Justice Department efforts to rein in American offshore tax evasion there.
Gupta trial: Closet call and promotional fund meetings
NEW YORK - To convict former Goldman Sachs Group Inc board member Rajat Gupta of insider trading, prosecutors must convince the jury he benefited from his relationship with Raj Rajaratnam, the now-imprisoned hedge fund manager he is accused of tipping.
Abacus Federal Savings Bank indicted for mortgage fraud
NEW YORK - Abacus Federal Savings Bank, which caters to Chinese immigrants in New York and other communities, has been charged with selling hundreds of millions of dollars worth of fraudulent mortgages to Fannie Mae.
U.S. prosecutor in Swiss bank cases resigns-source
May 31 - A top U.S. prosecutor responsible for a crackdown on Swiss banks and sellers of corporate tax shelters has resigned from the Justice Department, a source familiar with the matter said on Thursday.
UPDATE 1-Italy prosecutors wind up S&P investigation-source
* Probes into Moody's, Fitch to be concluded by June-source
Italy prosecutors wind up S&P market abuse probe -source
MILAN, May 31 - Italian prosecutors concluded a probe into rating agency Standard & Poor's for alleged market manipulation and abuse of privileged information, a source close to the investigation said on Thursday.
Court papers show SEC's Green Mountain probe isn't over
NEW YORK - The SEC's 18-month investigation of Green Mountain Coffee Roasters isn't finished, with revenue recognition among the items under the feds' microscope, a review of court documents shows.
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