Posts Tagged ‘fraud’
According to various sources, the U.S. Securities and Exchange Commission (SEC) plans to use new financial laws to pursue credit-rating fraud initiated overseas. This decision came after SEC dropped a fraud case against Moody’s Corp citing uncertainty over its authority to bring the case in the United States.
The SEC’s investigation found that a Moody’s [...]
FORTUNE — The Ohio Attorney General’s office announced today that a class of three pension funds it represented in fraud complaints against AIG (AIG, Fortune 500) have settled with the federally-owned insurance giant for $750 million.
The statement reads in part, “The settlement resolves allegations of AIG’s wide-ranging fraud from October 1999 to April 2005 involving [...]
NEW YORK (CNNMoney.com) — Mortgage fraud is still on the rise, according to a report released Monday, despite efforts by law enforcement and policy makers to rein it in.
Incidents of mortgage fraud perpetrated by industry professionals increased 7% in 2009, after jumping 26% the year before, said the Mortgage Asset Research Institute (MARI), a [...]
NEW YORK (CNNMoney.com) — In a 22-page complaint filed Friday, the Securities and Exchange Commission charged Goldman Sachs with defrauding investors on real estate securities likely to go bust.
The legal document reads less like a court filing, and more like a twisted story of how actions by Wall Street’s most notorious investment bank allegedly [...]
