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April 4, 2012
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Blog, Current Investigations, Securities Fraud
According to reports, the Massachusetts Secretary of State has fined a unit of State Street Corp. $5 million for its role in a mortgage-backed debt obligation. State Street is a Boston-based financial services company registered with FINRA. According to Secretary of State’s office, State Street Global Advisors
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October 31, 2011
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Blog, Securities Fraud
We recently blogged about a proposed deal between Citigroup and the SEC to resolve fraud charges related to collateralized debt obligations. The SEC had reported that Citigroup, “had agreed to settle the…charges by paying a total of $285 million, which will be returned to investors.” The SEC “charged
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October 26, 2011
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Blog, Securities Fraud
According to the Securities and Exchange Commission they, “charged Citigroup’s principal U.S. broker-dealer subsidiary with misleading investors about a $1 billion collateralized debt obligation (CDO) tied to the U.S. housing market in which Citigroup bet against investors as the housing market showed signs of
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April 6, 2011
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Blog, Securities Fraud
According to the Investment News, home loan giant Wells Fargo & Co. has agreed to pay $11.2 million to settle federal securities charges involving mortgage-based investments that Wachovia Capital Markets LLC sold to the Zuni American Indian tribe and other investors. According to a complaint filed by the
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