NEW YORK (Reuters) – The U.S. government is considering using a powerful national security law to halt a private lawsuit against a non-profit group, United Against A Nuclear Iran, according to a source familiar with the case.
Greek businessman and ship owner Victor Restis last year sued UANI for defamation after the New York-based group, whose advisors include former intelligence officials from the United States, Europe and Israel, accused him of violating sanctions on Iran by exporting oil from the country.
(Reuters) – U.S. federal prosecutors have learned that lawyers for General Motors Co were present at key meetings during which information about problems with some of its vehicles were discussed, a source close to the investigation said.
The prosecutors from the U.S. Department of Justice have asked how lawyers attending those meetings participated in them and what they did afterward with the information that was shared during the meetings, the source said.
NEW YORK/WASHINGTON, July 24 (Reuters) – The U.S. Securities
and Exchange Commission said on Thursday it had charged Morgan
Stanley with misleading investors about two mortgage-backed
securities it issued before the 2008 financial crisis, and that
the bank would pay $275 million to settle the case, according to
a press release.
The SEC found Morgan Stanley had not given investors in the
securities, which were called Morgan Stanley ABS Capital I Inc.
Trust 2007-NC4 and Morgan Capital I Inc. Trust 2007-HE7, the
correct information about how many of the mortgages they
contained were delinquent, the release said.
NEW YORK, July 2 (Reuters) – The U.S. Securities and
Exchange Commission has dropped an insider trading investigation
targeting a former Goldman Sachs investment banker after
initially deciding to file a case against him, the ex-banker and
his lawyer said on Wednesday.
“I’m grateful that the SEC took the time to consider all the
facts and drop the investigation,” Matthew Korenberg, the former
Goldman banker, said.
NEW YORK, June 25 (Reuters) – U.S prosecutors in Manhattan
unsealed an indictment on Wednesday against two men they said
participated in a ring of information-sharing that led to
illegal trading in a technology company acquired by IBM
Daryl Payton Jr. and Benjamin Durant III were arrested on
Wednesday morning, a spokesman for the Federal Bureau of
Investigation said. Each faces five counts of securities fraud
and one count of conspiracy to commit securities fraud,
according to the indictment.
NEW YORK (Reuters) – U.S. authorities are probing UBS AG (UBSN.VX: Quote, Profile, Research, Stock Buzz) for criminal fraud after a former broker in Puerto Rico allegedly directed clients to improperly borrow money to buy mutual funds that later plunged, according to lawyers representing some of the investors.
At issue is whether UBS executives in Puerto Rico and in the United States knew proceeds from loans made by a Utah unit of the Swiss bank were used in a way that violated its own lending rules. If they knew about the practice and did not stop it, they could be criminally responsible for the alleged fraud.
(Reuters) – U.S. prosecutors are interviewing present and former General Motors Co (GM.N: Quote, Profile, Research, Stock Buzz) employees as part of their criminal probe into the automaker’s ignition-switch problem that has been linked to at least 13 deaths, two sources said.
Since early this year, GM has been enveloped in a scandal over why it took more than a decade to begin recalling low-cost Chevrolet Cobalts, Saturn Ions and other cars with the problems that were causing the vehicles to stall during operation.
WASHINGTON/ST LOUIS (Reuters) – Two powerful congressmen have opened separate inquiries into whether a Department of the Treasury bureau charged with policing money laundering may have flouted federal hiring rules, including regulations that require military veterans be given preference for government jobs.
Darrell Issa, a California Republican who chairs the House oversight panel, expressed concern about possible improper hiring practices at the Financial Crimes Enforcement Network.
WASHINGTON/ST LOUIS, June 3 (Reuters) – Two powerful U.S.
congressmen have opened separate inquiries into whether a
Department of the Treasury bureau charged with policing money
laundering may have flouted federal hiring rules, including
regulations that require military veterans be given preference
for government jobs.
Darrell Issa, a California Republican who chairs the House
oversight panel, expressed concern about possible improper
hiring practices at the Financial Crimes Enforcement Network.
NEW YORK, May 21 (Reuters) – U.S. regulators are
investigating Charles Schwab Corp and Bank of America
Corp’s Merrill Lynch brokerage over whether they are
doing enough to learn about their clients’ identities, sources
said, the latest sign a crackdown on money laundering is
The U.S. Securities and Exchange Commission is looking into
whether the brokerages missed red flags that could indicate
attempts to move money illicitly or to feed proceeds from drug
trafficking and other crimes into the financial system by
failing to know their customers well enough, the sources said.