TORONTO/NEW YORK (Reuters) – Former U.S. professional boxer Rubin “Hurricane” Carter, who spent 19 years in prison for murder and then was released after it was determined he did not get a fair trial, died on Sunday at the age of 76, according to reports in the Canadian media.
Carter, considered a folk hero by many and immortalized in film and song, had been battling prostate cancer for months, according to reports by the Toronto Globe and Mail and the CBC. He died in Toronto, where he had been living since he was released from prison in 1985, according to the reports.
NEW YORK/BOSTON (Reuters) – The Federal Bureau of Investigation is probing Herbalife Ltd, the nutrition and weight loss company that hedge fund manager William Ackman has called a pyramid scheme, sources familiar with the investigation said on Friday.
The news, first reported by the Financial Times, sent the company’s stock price down nearly 14 percent.
NEW YORK, April 10 (Reuters) – SAC Capital Advisors’ $1.2
billion criminal settlement for insider trading received final
court approval on Thursday, as a U.S. judge accepted a guilty
plea from the hedge fund firm run by billionaire Steven A.
At a hearing in Manhattan federal court, U.S. District Judge
Laura Taylor Swain accepted SAC Capital’s guilty plea to fraud
charges and payment of a $900 million fine.
NEW YORK/LONDON (Reuters) – UBS AG (UBSN.VX: Quote, Profile, Research, Stock Buzz) has suspended a spot trader on its New York foreign exchange desk, a source familiar with the investigation said on Friday amid an ongoing international probe of big forex dealers for potential collusion and market manipulation.
Michael Velardi, 52, who has worked for the bank for nearly 20 years, was suspended this week, the source said. When reached by phone, Velardi declined to comment.
NEW YORK/WASHINGTON/DETROIT (Reuters) – Federal prosecutors are examining whether General Motors is criminally liable for failing to properly disclose problems with some of its vehicles that were linked to 13 deaths and led to a recall last month, according to a source familiar with the investigation.
The New York-based probe is in its early stages, and the source did not elaborate on the legal theory behind the potential criminal liability.
NEW YORK/WASHINGTON/DETROIT, March 11 (Reuters) – Federal
prosecutors in New York are examining whether General Motors
is criminally liable for failing to properly disclose
problems with some of its vehicles that were linked to 13 deaths
and led to a recall last month, according to a source familiar
with the investigation.
The probe is in its early stages, and the source did not
elaborate on the legal theory behind the potential criminal
NEW YORK (Reuters) – U.S. authorities are investigating whether two French banks violated anti-money laundering rules and economic embargoes on countries like Iran, according to a person familiar with the investigation.
Regulators in New York and Washington are looking at potential violations by Credit Agricole and Societe Generale of U.S. economic sanctions imposed against the countries, the source said.
Feb 28 (Reuters) – Mt. Gox, once the world’s largest bitcoin
exchange, has been sued by a customer in what may be the first
of many U.S. lawsuits seeking to recoup millions of dollars of
losses linked to a hacking attack that led to the exchange’s
In a complaint filed on Thursday in U.S. District Court in
Chicago, plaintiff Gregory Greene said Mt. Gox and its chief
executive, Mark Karpeles, were negligent and committed fraud for
having failed to protect the Tokyo-based exchange from theft.
By Brett Wolf and Emily Flitter
(Reuters) – The collapse of Mt. Gox might appear sudden, but bitcoin insiders say its downfall began nearly a year ago as the virtual currency exchange tangled with regulators, split from former business partners and grappled with cyber attacks.
Mt. Gox’s fall lays bare the difficulties the bitcoin community faces as it tries to square its freewheeling, libertarian ideals with the rigorous regulation required in financial services and customers’ needs for reliable service.
NEW YORK, Feb 26 (Reuters) – Manhattan U.S. Attorney Preet
Bharara has sent subpoenas to Mt. Gox, other bitcoin exchanges,
and businesses that deal in bitcoin to seek information on how
they handled recent cyber attacks, a source familiar with the
probe said on Wednesday.
In the attacks – known as distributed denial of service
attacks – hackers overwhelmed bitcoin exchanges by sending
thousands of phantom transactions. At least three exchanges were
forced to halt withdrawals of bitcoins on Feb. 7, including Mt.
Gox, which was the largest at the time.