Emily's Feed
Feb 26, 2015

New Jersey’s Christie to conservatives: ‘I’m still standing’

By Steve Holland and Emily Flitter

NATIONAL HARBOR, Md. (Reuters) – New Jersey Governor Chris Christie addressed head-on questions about his volatile temper on Thursday and dismissed critics, telling a gathering of conservatives: “I’m still standing.”

The potential Republican presidential contender is trying to remain viable for the November 2016 election despite losing some financial donors to rival Jeb Bush. Polls put Christie in the middle of a Republican pack led by Bush and Wisconsin Governor Scott Walker.

Feb 18, 2015

Exclusive: U.S. authorities probe alleged forged letter from Mirach in Sahara deal

SAN FRANCISCO/NEW YORK (Reuters) – Federal authorities in San Francisco are probing U.S.-based Mirach Capital Group, two sources familiar with the situation told Reuters, amid allegations that the group gave a forged bank letter to Indian conglomerate Sahara as part of financing negotiations.

Sahara had sought to borrow more than $1 billion from Mirach to help bail its chairman, Subrata Roy, out of jail in New Delhi. Roy was jailed last year for contempt charges for failing to comply with a court order to repay investors in a bond transaction that was ruled to be illegal.

Feb 5, 2015

Subrata Roy’s get-out-of-jail deal is mired in mystery

NEW YORK/MUMBAI (Reuters) – Subrata Roy, the boss of the Sahara conglomerate, is in a New Delhi prison on contempt-of-court charges and needs to post $1.6 billion in bail to get out. To help raise the money, Sahara is in talks to refinance its overseas hotels, including New York’s Plaza.

The only problem: It’s unclear if the man who’s orchestrating the deal, a 34-year-old former broker named Saransh Sharma, has the money to pull it off.

Feb 4, 2015

Indian tycoon Roy’s get-out-of-jail deal is mired in mystery

NEW YORK/MUMBAI, Feb 4 (Reuters) – Subrata Roy, the boss of
Indian conglomerate Sahara, is in a New Delhi prison on
contempt-of-court charges and needs to post $1.6 billion in bail
to get out. To help raise the money, Sahara is in talks to
refinance its overseas hotels, including New York’s Plaza.

The only problem: It’s unclear if the man who’s
orchestrating the deal, a 34-year-old former broker named
Saransh Sharma, has the money to pull it off.

Jan 16, 2015

U.S. sharply reduces Silk Road’s estimated sales volume

NEW YORK, Jan 16 (Reuters) – When U.S. authorities announced
the arrest of Silk Road creator Ross Ulbricht in October 2013,
they made a startling claim: the online black market had seen an
estimated $1.2 billion in illicit sales since its inception.

This week, however, as Ulbricht’s criminal trial began,
prosecutors significantly scaled back that figure, saying Silk
Road had actually seen an estimated $200 million in drug sales,
which comprised 95 percent of all sales on the website.

Jan 13, 2015

US says Canadian man used high-speed trading to manipulate market

NEW YORK, Jan 13 (Reuters) – U.S. authorities opened a new
chapter in policing high-speed stock trading on Tuesday when
they charged a Canadian man with fraud for manipulating stock
prices through a process called “layering,” according to
prosecutors.

The case is the first of its kind to be brought against a
trader in the stock market, the authorities said in press
releases.

Jan 9, 2015

Insight – In poor New York neighbourhoods, residents ask: Where are the police?

NEW YORK (Reuters) – On the sidewalk of a public housing development in Brooklyn, New York notorious for gang violence and drug activity, the words “Fascist pig, go home!” in black spray paint are fading but still legible.

These are the Marcy Houses, 27 brick H-block buildings, each six stories high, that are home to nearly 4,300 people, many of whom are black or Latino. The rapper Jay-Z, who grew up in the complex, described Marcy as “a block away from hell,” the place where “news cameras never come,” in a song called “Where I’m From.”

Jan 9, 2015

In poor New York neighborhoods, residents ask: Where are the police?

NEW YORK (Reuters) – On the sidewalk of a public housing development in Brooklyn, New York notorious for gang violence and drug activity, the words “Fascist pig, go home!” in black spray paint are fading but still legible.

These are the Marcy Houses, 27 brick H-block buildings, each six stories high, that are home to nearly 4,300 people, many of whom are black or Latino. The rapper Jay-Z, who grew up in the complex, described Marcy as “a block away from hell,” the place where “news cameras never come,” in a song called “Where I’m From.”

Jan 7, 2015

FBI says Sony hackers ‘got sloppy,’ posted from N.Korea addresses

NEW YORK/WASHINGTON, Jan 7 (Reuters) – FBI Director James
Comey said on Wednesday that hackers behind the cyberattack on
Sony Pictures Entertainment provided key clues to their
identity by sometimes posting material from IP addresses used
exclusively by the North Korean government.

The hackers, who called themselves “Guardians of Peace,”
sometimes “got sloppy” and failed to use proxy servers that
would hide their identity, Comey said at the International
Conference on Cyber Security in New York.

Dec 30, 2014

Special Report: How Ameriprise shaped deals so it could sell more securities

NEW YORK (Reuters) – Ameriprise Financial Inc, the third-largest independent U.S. brokerage firm, is using its size and reach to shape risky securities it sells, sometimes in ways that make them riskier.

At least three times in the past two years, the broker-dealer asked issuers of private real estate investment funds to change the structure of their deals so it could sell more of the securities, according to interviews with multiple sources with direct knowledge of Ameriprise’s practices and a review of testimony in an arbitration hearing involving Ameriprise.

    • About Emily

      "Based in New York covering financial crimes, including insider trading, investment scams, accounting fraud and financial firm misconduct."
    • Follow Emily