SEC Official Supports Libya’s Claim Against Goldman Sachs

By: Tuesday October 7, 2014 7:41 am

Though Goldman Sachs has already admitted in court documents that it bribed officials working for Libya’s sovereign wealth fund, the claim brought by Libya concerning fraud remains contested. Libya’s sovereign wealth fund known as the Libyan Investment Authority (LIA) has accused Goldman Sachs of putting the fund in over $1 billion worth of high risk [...]

Ernst & Young Pays $4 Million To SEC For Illegally Lobbying Congress

By: Thursday July 17, 2014 8:38 am

Ernst & Young, one the largest and most prestigious accounting firms in the country, has agreed to pay the SEC $4 million to settle charges of illegally lobbying Congress. Though in the institutional role of independent auditor, Ernst & Young employees lobbied congressional staff on behalf of two of their clients providing “prohibited legislative advisory [...]

Chris Christie Administration Facing Inquiry Over Actions On Second Bridge

By: Tuesday June 24, 2014 10:49 am

While New Jersey Governor Chris Christie is already shoulder deep in the investigation of illegal lane closures on the George Washington Bridge, another scandal is growing over a second bridge under his authority – the Pulaski Skyway. The Pulaski Skyway is an elevated roadway that connects the New Jersey cities of Newark and Jersey City [...]

Credit Suisse Pleads Guilty To Conspiring To Aid Tax Evasion

By: Tuesday May 20, 2014 10:38 am

It has finally happened, a Wall Street firm has pleaded guilty to a felony. Credit Suisse, to address criminal activity that occurred for decades, pleaded guilty to one count of conspiring to aid tax evasion. The firm will also pay a fine of $2.6 billion and have an independent monitor for two years. Credit Suisse [...]

SEC Official: Over Half Of All Private Equity Audits Revealed Crimes

By: Friday May 9, 2014 9:44 am

If you needed yet another example of Wall Street’s culture of corruption here it is – an SEC official has claimed that more than 50 percent of audits of private equity firms revealed “serious infractions of securities laws.” Yes, more than 50 percent. Drew Bowden, a senior SEC official, disclosed the information in a presentation [...]

SEC Was Colluding With Banks On CDO Prosecutions

By: Monday April 14, 2014 10:38 am

As evidence has continually trickled out about the numerous criminally fraudulent activities Wall Street firms engaged in that led to the housing crash, increasing amounts of attention has been focused on regulators that seem to have given banksters a pass. When it came to disciplining finance capital, as one former Wall Street lawyer turned Attorney [...]

Retiring SEC Attorney Says Agency Fails To Hold Powerful Accountable

By: Wednesday April 9, 2014 6:10 am

A longtime trial attorney for the SEC had some brutal parting shots for the agency. Given as remarks at a goodbye party the attorney, James Kidney, condemned the SEC for letting the larger Wall Street firms get away with crimes. Essentially claiming that the SEC never went after the powerful. Kidney joined the SEC in 1986 [...]

SEC Contacting Financial Firms With Russian Investments

By: Thursday March 20, 2014 12:54 pm

Will Exxon's 'bromance' with the Kremlin keep Putin in check? http://t.co/IJAoT4GjNs pic.twitter.com/yxBV6WONRM — Forbes (@Forbes) March 20, 2014 The Securities and Exchange Commission is contacting public funds with exposure to Russian investments in order to ensure they were prepared for the effects of political instability as tensions rose over Crimea. According to Reuters the calls [...]

JPMorgan Pays Small Fine For Lying To Regulators And Manipulating Market

By: Thursday September 19, 2013 8:58 am

You had to see this coming. After lying to regulators, manipulating the market, and putting out fraudulent documents JPMorgan will pay a relatively small fine and move on. Because when the powerful repeatedly break the law the consequences are never very severe. If we stopped these Wall Street banksters from making criminal profits they might stop [...]

Financial Crisis Cases Ending As SEC Struggles With Reputation

By: Thursday September 12, 2013 11:06 am

It has now been 5 years since Wall Street crashed the economy through its pump and dump mortgage derivative scheme. Few of the bad actors have been held accountable and none of the big ones. The public understands the reality – that Wall Street got away with it. Actually, Wall Street not only got away [...]

SAC Capital Indicted, Pleads Not Guilty To Insider Trading Charges

By: Friday July 26, 2013 10:23 am

SAC Capital has been formally indicted for insider trading and called a “magnet for market cheating” by federal prosecutors who said the firm had engaged in illegal securities trading from 1999 to 2010. While SAC Capital faced charges, its leader and principal beneficiary, Steve Cohen, was not charged. The 41-page indictment and prosecutors depicted a [...]

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