/WASHINGTON (Reuters) – The state of Virginia said on Tuesday that it sued units of Citigroup Inc, Deutsche Bank AG and 11 other banks, accusing them of defrauding the state’s retirement fund by selling it shoddy mortgage bonds in the run-up to the recent financial crisis.
The lawsuit seeks $1.15 billion in damages from the banks, who allegedly misled the Virginia Retirement System about the quality of loans in investments purchased between 2004 and 2010.
WASHINGTON, Sept 15 (Reuters) – A Tampa, Florida woman can
proceed with part of an invasion of privacy lawsuit against the
U.S. government over leaks to the media about her connection to
a scandal over former CIA Director David Patraeus’ extramarital
affair, a federal judge ruled on Monday.
Last year, Tampa socialite Jill Kelley and her husband Scott
sued the FBI, the Department of Defense (DOD) and several
government officials, saying they willfully leaked damaging and
false information about the couple.
WASHINGTON (Reuters) – The U.S. government launched a program on Monday to reach out to key members of communities across the country to try to stop radicalized young people joining Islamic State and other extremist groups fighting in Syria and Iraq.
“Today, few threats are more urgent than the threat posed by violent extremism,” Attorney General Eric Holder said in a video announcing the program.
WASHINGTON (Reuters) – Wall Street executives may have personally escaped the wrath of the U.S. Department of Justice but executives at companies accused of foreign bribery schemes may not be so lucky.
Prosecutors say they are clearly shifting away from only big corporate settlements in such cases and are beginning to target more individuals. The numbers are not eye-popping. But officials say the results are encouraging and these cases may provide road maps for other financial fraud prosecutions.
WASHINGTON (Reuters) – Tony West, the third-ranking official at the U.S. Department of Justice, has a ready response for critics who question why few individuals have been charged for conduct tied to the financial crisis: just wait.
“We are not done, we are not finished,” said West, who was responsible for crafting a series of multi-billion dollar civil settlements with top banks JPMorgan Chase, Citigroup, and Bank of America over shoddy mortgage bonds they sold in the run up to the 2008 crisis.
SHANGHAI/WASHINGTON (Reuters) – A U.S. anti-bribery probe into GlaxoSmithKline Plc (GSK.L: Quote, Profile, Research, Stock Buzz) touched on the firm’s Chinese consumer healthcare business in 2012, internal documents show, suggesting the drugmaker’s compliance problems in China could go wider than previously revealed.
GSK confirmed it had conducted an investigation into procurement practices in consumer healthcare in China, but said it did not find any “unethical conduct”. It said the inquiry was unrelated to a Chinese criminal investigation into corruption in its pharmaceuticals division that was made public last year.
SHANGHAI/WASHINGTON, Sept 9 (Reuters) – A U.S. anti-bribery
probe into GlaxoSmithKline Plc touched on the firm’s
Chinese consumer healthcare business in 2012, internal documents
show, suggesting the drugmaker’s compliance problems in China
could go wider than previously revealed.
GSK confirmed it had conducted an investigation into
procurement practices in consumer healthcare in China, but said
it did not find any “unethical conduct”. It said the inquiry was
unrelated to a Chinese criminal investigation into corruption in
its pharmaceuticals division that was made public last year.
WASHINGTON, Aug 29 (Reuters) – A U.S. judge sentenced the
former chief executive of surgical device maker ArthroCare to 20
years in prison and its finance chief to 10 years after a jury
convicted the pair of orchestrating a $750 million securities
fraud scheme, the U.S. Department of Justice said on Friday.
A federal judge in Austin, Texas, sentenced former CEO
Michael Baker to 20 years, and former CFO Michael Gluk to 10
years. The government had request a 30-year prison term for
Baker and 20 years for Gluk.
WASHINGTON (Reuters) – Four former security guards for Blackwater Worldwide “took something that didn’t belong to them, the lives of 14 human beings,” in September 2007 when they fired on civilians in a Baghdad traffic circle, a U.S. prosecutor told jurors on Wednesday.
Several victims were shot in the back as they tried to flee, federal prosecutor Anthony Asuncion noted. Summing up the government’s case against the guards, he also recounted the testimony of relatives who had given emotional accounts of their loved ones’ gory deaths.
WASHINGTON/NEW YORK (Reuters) – Bank of America Corp (BAC.N: Quote, Profile, Research, Stock Buzz) reached a record $16.65 billion settlement with the U.S. government to settle charges that it and companies it bought misled investors into buying troubled mortgage-backed securities, helping the bank close a major chapter tied to the financial crisis.
The settlement announced on Thursday by the U.S. Department of Justice calls for the second-largest U.S. bank by assets to pay $9.65 billion in cash to resolve more than a dozen federal and state investigations, and provide $7 billion in help to struggling homeowners and communities.