Deutsche Bank AG, Germany’s biggest bank, was sued for more than $ 1 billion by the U.S. for allegedly lying “repeatedly” to qualify thousands of risky mortgages for a government insurance program.
BusinessWeek.com — Finance
Noah Freeman and Donald Longueuil, former junior portfolio managers at SAC Capital Advisors LP, were accused of insider trading while working at the $ 12 billion hedge fund in the latest round of charges stemming from a nationwide crackdown by federal prosecutors.
BusinessWeek.com — Finance
JPMorgan Chase & Co. sought to protect only its own investments even as it suspected Bernard Madoff of perpetrating a fraud, said the trustee liquidating the convicted conman’s financial-advisory firm.
BusinessWeek.com — Finance
The U.S. Securities and Exchange Commission was sued by victims of Bernard L. Madoff’s Ponzi scheme who alleged negligence on the part of the agency.
BusinessWeek.com — Finance
Bank of America Inc.’s Countrywide Financial unit, acquired by the bank in 2008, was accused of “massive fraud” in a lawsuit by investors who claim they were misled about mortgage-backed securities.
BusinessWeek.com — Finance
The former Flextronics International Ltd. manager accused of leaking details about Apple Inc.’s iPad and iPhone 4 won release on $ 150,000 bail in the insider-trading case.
BusinessWeek.com — Finance
The U.S. charged a former UBS AG banker with helping American clients hide assets from the Internal Revenue Service by shifting them to a smaller Swiss bank.
BusinessWeek.com — Finance