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Mar 13, 2013

US plans to let spy agencies scour Americans’ finances

NEW YORK/WASHINGTON, March 13 (Reuters) – The Obama
administration is drawing up plans to give all U.S. spy agencies
full access to a massive database that contains financial data
on American citizens and others who bank in the country,
according to a Treasury Department document seen by Reuters.

The proposed plan represents a major step by U.S.
intelligence agencies to spot and track down terrorist networks
and crime syndicates by bringing together financial databanks,
criminal records and military intelligence. The plan, which
legal experts say is permissible under U.S. law, is nonetheless
likely to trigger intense criticism from privacy advocates.

Mar 13, 2013

Exclusive: Obama administration to let spy agencies scour Americans’ finances

NEW YORK/WASHINGTON (Reuters) – The Obama administration is drawing up plans to give all U.S. spy agencies full access to a massive database that contains financial data on American citizens and others who bank in the country, according to a Treasury Department document seen by Reuters.

The proposed plan represents a major step by U.S. intelligence agencies to spot and track down terrorist networks and crime syndicates by bringing together financial databanks, criminal records and military intelligence. The plan, which legal experts say is permissible under U.S. law, is nonetheless likely to trigger intense criticism from privacy advocates.

Mar 13, 2013

US to let spy agencies scour Americans’ finances

NEW YORK/WASHINGTON, March 13 (Reuters) – The Obama
administration is drawing up plans to give all U.S. spy agencies
full access to a massive database that contains financial data
on American citizens and others who bank in the country,
according to a Treasury Department document seen by Reuters.

The proposed plan represents a major step by U.S.
intelligence agencies to spot and track down terrorist networks
and crime syndicates by bringing together financial databanks,
criminal records and military intelligence. The plan, which
legal experts say is permissible under U.S. law, is nonetheless
likely to trigger intense criticism from privacy advocates.

Mar 11, 2013

Mortgage pioneer Ranieri’s firm settles SEC charge

By Jonathan Stempel and Emily Flitter

(Reuters) – A private equity firm founded by mortgage bond pioneer Lewis Ranieri has agreed to pay $375,000 to settle U.S. Securities and Exchange Commission charges that it employed an unregistered broker to help solicit roughly $569 million of investments.

The settlement with Ranieri Partners LLC and two Illinois residents resolves allegations over the activities of William Stephens, a consultant who was paid $2.42 million for helping bring in investments for its Selene funds between February 2008 and March 2011.

Feb 28, 2013

Hedge fund in ‘Whale’ trade tried to poach JPM employees -sources

NEW YORK, Feb 28 (Reuters) – BlueMountain Capital, a hedge
fund involved in JPMorgan Chase & Co.’s $6.2 billion trading
loss last year, tried to recruit several employees in the bank’s
chief investment office in the months before the losses,
according to two people familiar with the matter.

The New York-based hedge fund had targeted people in the
trading and risk management divisions of JPMorgan’s
chief investment office, the same part of the bank where Bruno
Iksil, the trader who became known as the ‘London Whale’ for his
outsized positions in a small derivatives market, was working.

Feb 25, 2013

Goldman managing director in insider trading probe leaves bank

NEW YORK (Reuters) – A Goldman Sachs Group Inc (GS.N: Quote, Profile, Research, Stock Buzz) salesman under investigation for possibly passing confidential information about technology companies to hedge funds has left the bank, a spokesman confirmed on Monday.

David Loeb, 42, a managing director based in New York, has never been charged with wrongdoing. But his name surfaced among a small group of Goldman bankers under scrutiny in connection with an insider trading probe being conducted by the FBI.

Feb 19, 2013

FBI investigating potential insider trading in Heinz

NEW YORK (Reuters) – The FBI is looking into possible insider trading in the options of ketchup maker H.J. Heinz Co (HNZ.N: Quote, Profile, Research, Stock Buzz) before its blockbuster deal last week to be acquired by Warren Buffett and Brazil’s 3G Capital, a bureau spokesman said on Tuesday.

Buffett’s Berkshire Hathaway (BRKa.N: Quote, Profile, Research, Stock Buzz) and 3G said last Thursday they would buy Heinz for $23 billion in cash. Almost immediately, options market players noted there had been extremely unusual activity the day before the deal was announced.

Feb 13, 2013
via Unstructured Finance

FBI to press: How are we doing?

Photo

The Federal Bureau of Investigation’s press office has embarked on a bit of customer satisfaction research: The department is asking journalists to rate its performance during the hostage standoff in Alabama that ended last week.

It is a rare glint of cooperative spirit in the traditionally contentious relationship between journalists and public relations specialists.

Feb 7, 2013

Prosecutors zero in on SAC Capital insider Steinberg

NEW YORK (Reuters) – Prosecutors are nearing a decision on whether to pursue criminal charges against SAC Capital Advisors portfolio manager Michael Steinberg related to an insider trading investigation involving shares of Dell Inc, according to two people familiar with the matter.

Steinberg, 40, a technology portfolio manager with SAC Capital’s Sigma Capital division, previously had been named by prosecutors as an unindicted co-conspirator in a criminal prosecution involving two other recently convicted hedge fund traders, Todd Newman and Anthony Chiasson, who had also traded Dell shares.

Feb 6, 2013

U.S. prosecutors zero in on SAC Capital insider Steinberg

NEW YORK (Reuters) – U.S. prosecutors are nearing a decision on whether to pursue criminal charges against SAC Capital Advisors portfolio manager Michael Steinberg related to an insider trading investigation involving shares of Dell Inc, according to two people familiar with the matter.

Steinberg, 40, a technology portfolio manager with SAC Capital’s Sigma Capital division, previously had been named by prosecutors as an unindicted co-conspirator in a criminal prosecution involving two other recently convicted hedge fund traders, Todd Newman and Anthony Chiasson, who had also traded Dell shares.

    • About Emily

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