Northern Rock to offer 90% mortgages

Northern Rock to offer 90% mortgages.Nationalised lender Northern Rock is poised to launch mortgages that require just a 10% deposit – or 90% loan-to-value – as lenders become more willing to take on extra risk.<br /> <br /> In January the number of deals available to people who needed such mortgages – which were common before the financial crisis – jumped by 26%.<br /> <br /> Northern Rock has been considering the move since 2009, when it was allowed to resume lending following its nationalisation in February 2008, and will make limited funds available for such deals. Even with lenders resuming these types of loans, the number of products is down 75% from pre-crisis levels.<br /> <br /> The bank, which could be privatised by the end of the year, could announce the new mortgage range on Monday."

Northern Rock to offer 90% mortgages

Northern Rock to offer 90% mortgages.Nationalised lender Northern Rock is poised to launch mortgages that require just a 10% deposit – or 90...

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The Serious Fraud Office is reported to be investigating two of the companies behind the ill-fated A1 Grand Prix series.

<a href="http://www.amazon.com/F1-Formula-One-Championship-Playstation-3/dp/B000MIP72G?ie=UTF8&tag=cosdelcri-21&link_code=bil&camp=213689&creative=392969" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;" target="_blank"><img alt="F1: Formula One Championship Edition" src="http://ws.amazon.com/widgets/q?MarketPlace=US&ServiceVersion=20070822&ID=AsinImage&WS=1&Format=_SL160_&ASIN=B000MIP72G&tag=cosdelcri-21" /></a>The Serious Fraud Office is reported to be investigating two of the companies behind the ill-fated A1 Grand Prix series.<br /> <br /> It is understood that both A1 Grand Prix Operations - which is in administration with debts of £100m - and A1 Holdings - which is in compulsory liquidation with creditors claiming more than £300m - are under investigation.<br /> <br /> Both companies are linked to Tony Teixeira who, despite A1's descent into farce and failure, continued to be linked to a buy-out of a number of F1 teams including Honda, Force India and Campos."

The Serious Fraud Office is reported to be investigating two of the companies behind the ill-fated A1 Grand Prix series.

The Serious Fraud Office is reported to be investigating two of the companies behind the ill-fated A1 Grand Prix series. It is understood ...

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Bernard Madoff: remorse, tears and a good character reference

<a href="http://www.amazon.com/Believers-America-Bernard-Madoffs-Investment/dp/0753827433?ie=UTF8&tag=cosdelcri-21&link_code=bil&camp=213689&creative=392969" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;" target="_blank"><img alt="The Believers: How America Fell for Bernard Madoff's $50 Billion Investment Scam" src="http://ws.amazon.com/widgets/q?MarketPlace=US&ServiceVersion=20070822&ID=AsinImage&WS=1&Format=_SL160_&ASIN=0753827433&tag=cosdelcri-21" /></a>Bernard Madoff<img alt="" border="0" height="1" src="http://www.assoc-amazon.com/e/ir?t=cosdelcri-21&l=bil&camp=213689&creative=392969&o=1&a=0753827433" style="border: none !important; margin: 0px !important; padding: 0px !important;" width="1" />: remorse, tears and a good character reference from his therapist "Bernard Madoff, the disgraced financier, has denied being a sociopath and claimed that his victims should carry much of the blame for his $65bn fraud.<br /> <br /> In an in-depth interview with New York Magazine, Madoff argued he has been unfairly portrayed as a monster since his Ponzi scheme collapsed in the autumn of 2008. He said deceiving investors and his own family for almost two decades had put a severe strain on him personally and that he had not meant to conduct such a huge crime, but could not extricate himself.<br /> <br /> The former head of Bernard L. Madoff Investment Securities even insisted that his prison therapist had assured him that he was not evil.<br /> <br /> 'She said, 'You're absolutely not a sociopath. You have morals. You have remorse.' ' Madoff told the magazine. 'I am a good person,' he added.<br /> <br /> Madoff gave the interview by phone, following the suicide of his son, Mark, last autumn. During a series of calls, he explains that he began his career as a legitimate, profitable trader, but was forced to falsify his returns in the recession of the early 1990s. Once he had started using funds from one client to repay another - rather than generating actual profits on Wall Street - he was never able to admit the truth: 'I was too afraid.'"

Bernard Madoff: remorse, tears and a good character reference

Bernard Madoff : remorse, tears and a good character reference from his therapist "Bernard Madoff, the disgraced financier, has denied ...

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Oman Stocks Slump the Most in 15 Months as Protests Spread; Dubai Retreats

Oman Stocks Slump the Most in 15 Months as Protests Spread; Dubai Retreats  "Persian Gulf shares dropped, sending Oman’s benchmark stock index down the most in more than a year, as political unrest in the region spread to the sultanate, prompting investors to trim riskier emerging market assets.<br /> <br /> Bank Muscat SAOG, Oman’s biggest bank, slumped 9.9 percent and Bank Sohar lost the most in two years as protests erupted in the city of Sohar. The MSM30 Index fell 3.9 percent to 6,209.39, the most since December 2009, at 11:44 a.m. in Muscat. The Bloomberg GCC 200 Index declined 1 percent and has slid 11 percent since Tunisia’s former president Zine El Abidine Ben Ali fled the country amid protests that spurred similar uprisings in Libya, Egypt, Algeria, Morocco and Bahrain. Qatar’s QE Index decreased 3.9 percent."

Oman Stocks Slump the Most in 15 Months as Protests Spread; Dubai Retreats

Oman Stocks Slump the Most in 15 Months as Protests Spread; Dubai Retreats  "Persian Gulf shares dropped, sending Oman’s benchmark stoc...

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George Osborne thwarts Gaddafi plot to grab £900m in new Libyan banknotes | Mail Online

<a href="http://www.amazon.com/Standard-Catalog-Modern-Issues-Money/dp/B0044KMW30?ie=UTF8&tag=cosdelcri-21&link_code=bil&camp=213689&creative=392969" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;" target="_blank"><img alt="Standard Catalog Of World Paper Money Modern Issues (Standard Catalog of World Paper Money. Vol 3: Modern Issues)" src="http://ws.amazon.com/widgets/q?MarketPlace=US&ServiceVersion=20070822&ID=AsinImage&WS=1&Format=_SL160_&ASIN=B0044KMW30&tag=cosdelcri-21" /></a>George Osborne thwarts Gaddafi plot to grab £900m in new Libyan banknotes<img alt="" border="0" height="1" src="http://www.assoc-amazon.com/e/ir?t=cosdelcri-21&l=bil&camp=213689&creative=392969&o=1&a=B0044KMW30" style="border: none !important; margin: 0px !important; padding: 0px !important;" width="1" /> | Mail Online: "he plot was highly sensitive because the company which made the bank notes had to be seen to be fulfilling its legal obligations.<br /> <br /> The dictator and his henchmen were last night stripped of diplomatic immunity, meaning they could be arrested for war crimes if they set foot in the UK.<br /> <br /> And Mr Osborne got the approval of the Privy Council – with the Queen present – to stop the regime getting access to billions of pounds in assets in Britain at a meeting at Windsor Castle yesterday.<br /> <br /> The Government also said it would no longer approve export licences for ‘military or paramilitary equipment to Libya’, except if it is for UN peacekeeping or humanitarian purposes.<br /> <br /> It followed an outcry when it emerged that Gaddafi used weapons supplied by British firms against his own people."

George Osborne thwarts Gaddafi plot to grab £900m in new Libyan banknotes | Mail Online

George Osborne thwarts Gaddafi plot to grab £900m in new Libyan banknotes | Mail Online: "he plot was highly sensitive because the com...

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If the Saudis revolt, the world’s in trouble

<a href="http://www.amazon.com/Inside-Kingdom-Modernists-Terrorists-ebook/dp/B002N83H66?ie=UTF8&tag=cosdelcri-21&link_code=bil&camp=213689&creative=392969" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;" target="_blank"><img alt="Inside the Kingdom: Kings, Clerics, Modernists, Terrorists, and the Struggle for Saudi Arabia" src="http://ws.amazon.com/widgets/q?MarketPlace=US&ServiceVersion=20070822&ID=AsinImage&WS=1&Format=_SL160_&ASIN=B002N83H66&tag=cosdelcri-21" /></a>"In Saudi Arabia,<img alt="" border="0" height="1" src="http://www.assoc-amazon.com/e/ir?t=cosdelcri-21&l=bil&camp=213689&creative=392969&o=1&a=B002N83H66" style="border: none !important; margin: 0px !important; padding: 0px !important;" width="1" /> even King Abdullah’s panicky decision to order another multi-billion-dollar splurge of spending on education, healthcare and infrastructure may not be enough to buy off the opposition. People seem to want something more precious than money: freedom.<br /> Whatever happens, speculation about the possibility of major interruptions in supply has sent the already perky oil price bounding higher. At one point yesterday, Brent crude hit $120 a barrel, which in real terms is approaching the sort of peaks we saw in the 1970s."

If the Saudis revolt, the world’s in trouble

"In Saudi Arabia, even King Abdullah’s panicky decision to order another multi-billion-dollar splurge of spending on education, health...

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Former Taylor, Bean Officer Admits to Fraud

Former Taylor, Bean Officer Admits to Fraud - NYTimes.com: "The former treasurer of Taylor, Bean & Whitaker Mortgage Corporation, once one of the largest mortgage lenders in the country, admitted to helping run a $1.9 billion fraud scheme that was directed at the government’s Troubled Asset Relief Program and contributed to the failure of Colonial Bank.<br /> <br /> The former treasurer, Desiree Brown, 45, pleaded guilty on Thursday in federal court in Alexandria, Va., to wire fraud, securities fraud, and conspiring to commit bank fraud. She also agreed to cooperate with prosecutors in the trial of Lee Farkas, former chairman of Taylor, Bean, on April 4. Ms. Brown also settled civil charges with the Securities and Exchange Commission, the S.E.C. said."

Former Taylor, Bean Officer Admits to Fraud

Former Taylor, Bean Officer Admits to Fraud - NYTimes.com: "The former treasurer of Taylor, Bean & Whitaker Mortgage Corporation, o...

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Wall Street bonuses fall 8 per cent in 2010 but bankers still take in $20.8bn

Wall Street bonuses fall 8 per cent in 2010 but bankers still take in $20.8bn | Mail Online: "Even bankers are still feeling the effects from the recession - well, a bit.<br /> <br /> Bonuses on Wall Street feel eight per cent in 2010 - but that still meant tycoons were raking in a total of $20.8billion.<br /> <br /> That estimate of cash bonuses to New York City securities industry employees is down from what was actually paid in 2009.<br /> <br /> But the fall could be due to the fact that Wall Street is now paying higher base salaries and deferring earnings in an efforts to deflect much of the bad publicity surrounding the monstrous bonus payments.<br /> <br /> And the $20.8billion figure is still $500million more than what New York Comptroller Thomas DiNapoli estimated it would be a year ago.<br /> <br /> The comptroller's report says Wall Street profits totalled $27.6billion in 2010."

Wall Street bonuses fall 8 per cent in 2010 but bankers still take in $20.8bn

Wall Street bonuses fall 8 per cent in 2010 but bankers still take in $20.8bn | Mail Online: "Even bankers are still feeling the effect...

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JPMorgan hires most bankers in China

<a href="http://www.amazon.com/Business-Investment-Banking-Comprehensive-Overview/dp/0471739642?ie=UTF8&tag=cosdelcri-21&link_code=bil&camp=213689&creative=392969" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;" target="_blank"><img alt="The Business of Investment Banking: A Comprehensive Overview" src="http://ws.amazon.com/widgets/q?MarketPlace=US&ServiceVersion=20070822&ID=AsinImage&WS=1&Format=_SL160_&ASIN=0471739642&tag=cosdelcri-21" /></a>JPMorgan hires most bankers in China <img alt="" border="0" height="1" src="http://www.assoc-amazon.com/e/ir?t=cosdelcri-21&l=bil&camp=213689&creative=392969&o=1&a=0471739642" style="border: none !important; margin: 0px !important; padding: 0px !important;" width="1" />- People's Daily Online: "JPMmorgan hired the most number of bankers in China for its global corporate bank business last year and it is confident that expansion will not slow in 2011 as the bank taps on the higher outbound investments by Chinese companies, a senior executive said yesterday.<br /> <br /> The New York-based bank hired about 100 bankers last year for its corporate bank and several hundred supporting staff like credit officers.<br /> <br /> 'China is certainly the market where we hired the most new bankers last year,' said Gregory L. Guyett, chief executive officer of JPMorgan's global corporate bank, in an exclusive interview with Shanghai Daily. 'It's a pretty substantial part of that number.'<br /> <br /> The United States bank said earlier it will invest US$100 million annually to hire bankers for the business to aim for a market share of more than 10 percent in the long run."

JPMorgan hires most bankers in China

JPMorgan hires most bankers in China - People's Daily Online: "JPMmorgan hired the most number of bankers in China for its global c...

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More than 100 RBS bankers paid over £1m

"Sir Philip Hampton, chairman of RBS confirmed that more than 100 employees received £1m or more for their performance in 2010, but said the number was lower than the preceding year.<br /> Average pay for the 19,500 staff in RBS's investment banking arm fell by just over £18,000 per employee to £144,012 and about a quarter of staff in the division received no bonus at all for last year.<br /> Those who did receive bonuses had the cash element capped at £2,000 and the rest will be paid in the form of bonds convertible into RBS debt that will pay out over three years, with the first due to vest in June.<br /> RBS did not say how much its bonus pool was worth this year, but confirmed that the total was less than £950m.<br /> Stephen Hester, chief executive, said: 'We have tried to exercise restraint.' However, he added that staff at the bank felt 'beleaguered' by the widespread criticism they had faced as the lender became a 'political football'."

More than 100 RBS bankers paid over £1m

"Sir Philip Hampton, chairman of RBS confirmed that more than 100 employees received £1m or more for their performance in 2010, but sai...

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Bankers' pay in booming Hong Kong to jump 40 per cent

<a href="http://www.amazon.com/Experience-Hong-Kong-travel-ebook/dp/B002E19X3S?ie=UTF8&tag=cosdelcri-21&link_code=bil&camp=213689&creative=392969" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;" target="_blank"><img alt="Experience Hong Kong: a travel guide (2011)" src="http://ws.amazon.com/widgets/q?MarketPlace=US&ServiceVersion=20070822&ID=AsinImage&WS=1&Format=_SL160_&ASIN=B002E19X3S&tag=cosdelcri-21" /></a> Bankers' pay in booming Hong Kong<img alt="" border="0" height="1" src="http://www.assoc-amazon.com/e/ir?t=cosdelcri-21&l=bil&camp=213689&creative=392969&o=1&a=B002E19X3S" style="border: none !important; margin: 0px !important; padding: 0px !important;" width="1" /> to jump 40 per cent "to jump by up to 40 per cent in 2011 as the city's economy booms, a news report said Friday.<br /> Top-tier candidates in Hong Kong, already one of the best-rewarded cities for banking positions, can expect pay rises of up to 40 per cent, the South China Morning Post reported.<br /> People working in capital markets and transactional banking can meanwhile expect rises of 20 to 25 per cent, said the newspaper, quoting a salary survey by recruitment firm Robert Walters."

Bankers' pay in booming Hong Kong to jump 40 per cent

 Bankers' pay in booming Hong Kong to jump 40 per cent "to jump by up to 40 per cent in 2011 as the city's economy booms, a ne...

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Ex-Goldman Sze step closer to $1 billion-plus hedge fund

<a href="http://www.amazon.com/Chasing-Goldman-Sachs-Masters-Universe/dp/0307460118?ie=UTF8&tag=cosdelcri-21&link_code=bil&camp=213689&creative=392969" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;" target="_blank"><img alt="Chasing Goldman Sachs: How the Masters of the Universe Melted Wall Street Down . . . And Why They'll Take Us to the Brink Again" src="http://ws.amazon.com/widgets/q?MarketPlace=US&ServiceVersion=20070822&ID=AsinImage&WS=1&Format=_SL160_&ASIN=0307460118&tag=cosdelcri-21" /></a>Ex-Goldman Sze step closer to $1 billion-plus hedge fund | Reuters: "Hong Kong-based Sze, head of Goldman's Principal Strategies group, was with Goldman Sachs <img alt="" border="0" height="1" src="http://www.assoc-amazon.com/e/ir?t=cosdelcri-21&l=bil&camp=213689&creative=392969&o=1&a=0307460118" style="border: none !important; margin: 0px !important; padding: 0px !important;" width="1" />(Asia) L.L.C. until February 16 and started at Azentus Capital on February 21, filings with the Securities and Futures Commission in Hong Kong show.<br /> <br /> The fund comes as Goldman and other Wall Street banks shut proprietary trading desks in light of the 'Volcker rule,' which limits the risks banks can take with their own capital in the wake of the global financial crisis.<br /> <br /> Sze is building a team of close to 30 to run Azentus Capital, which is expected to be one of the biggest hedge fund launches since the onset of the credit crisis and one of the most high-profile in Asia.<br /> <br /> The hedge fund is expected to be launched in the second quarter"

Ex-Goldman Sze step closer to $1 billion-plus hedge fund

Ex-Goldman Sze step closer to $1 billion-plus hedge fund | Reuters: "Hong Kong-based Sze, head of Goldman's Principal Strategies gr...

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Four Former Credit Suisse Bankers Indicted by U.S. in Tax Conspiracy Case - Bloomberg

<a href="http://www.amazon.com/grm-9999-Fine-Gold-Bar/dp/B004C3DJDQ?ie=UTF8&tag=cosdelcri-21&link_code=bil&camp=213689&creative=392969" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;" target="_blank"><img alt="(20 grm) .9999+ Fine Gold Bar - Credit Suisse (Statue of Liberty)" src="http://ws.amazon.com/widgets/q?MarketPlace=US&ServiceVersion=20070822&ID=AsinImage&WS=1&Format=_SL160_&ASIN=B004C3DJDQ&tag=cosdelcri-21" /></a>Four Former Credit Suisse <img alt="" border="0" height="1" src="http://www.assoc-amazon.com/e/ir?t=cosdelcri-21&l=bil&camp=213689&creative=392969&o=1&a=B004C3DJDQ" style="border: none !important; margin: 0px !important; padding: 0px !important;" width="1" />Bankers Indicted by U.S. in Tax Conspiracy Case - Bloomberg: "Four bankers who worked at Credit Suisse Group AG were charged with conspiring to help clients in the U.S. evade taxes through secret bank accounts, according to an indictment and people familiar with the matter.<br /> <br /> Marco Parenti Adami, Emanuel Agustoni, Michele Bergantino and Roger Schaerer conspired with clients at “one of the biggest banks in Switzerland,” according to an indictment yesterday in federal court in Alexandria, Virginia.<br /> <br /> Credit Suisse, based in Zurich and the second-biggest bank in Switzerland, is the bank, according to the people who requested anonymity because they aren’t authorized to speak publicly about the indictment.<br /> <br /> The bank’s managers in its cross-border business “knew and should have known that they were aiding and abetting U.S. customers in evading their U.S. income taxes,” according to the indictment. In the fall of 2008, the bank had “thousands” of accounts with $3 billion in assets not declared to the U.S. Internal Revenue Service, according to the indictment."

Four Former Credit Suisse Bankers Indicted by U.S. in Tax Conspiracy Case - Bloomberg

Four Former Credit Suisse Bankers Indicted by U.S. in Tax Conspiracy Case - Bloomberg: "Four bankers who worked at Credit Suisse Group ...

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Seafood company owner caught in bank fraud gets 5 years - Projo 7 to 7 News Blog | Rhode Island news | The Providence Journal

<a href="http://www.amazon.com/5lbs-Wild-Sockeye-Salmon-Fillets/dp/B000JQ4CRW?ie=UTF8&tag=cosdelcri-21&link_code=bil&camp=213689&creative=392969" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;" target="_blank"><img alt="5lbs Wild Sockeye Salmon Fillets 4/6oz - Boneless 12-14 Fillets" src="http://ws.amazon.com/widgets/q?MarketPlace=US&ServiceVersion=20070822&ID=AsinImage&WS=1&Format=_SL160_&ASIN=B000JQ4CRW&tag=cosdelcri-21" /></a>Seafood company owner caught in bank fraud gets 5 years - Projo 7 to 7 News Blog | Rhode Island news | The Providence Journal: "federal judge in Boston on Wednesday sentenced Robert G. Coutu, the former owner of Ocean Fresh Seafood <img alt="" border="0" height="1" src="http://www.assoc-amazon.com/e/ir?t=cosdelcri-21&l=bil&camp=213689&creative=392969&o=1&a=B000JQ4CRW" style="border: none !important; margin: 0px !important; padding: 0px !important;" width="1" />in North Attleboro, Mass., to serve five years in prison for masterminding and executing a multi-million-dollar bank fraud scheme.<br /> <br /> The sentence, imposed by U.S. District Court Judge Nancy Gertner, also requires Coutu, 59, formerly of Cumberland, to make $6,582,165.91 in restitution to Wells Fargo Bank and based on money laundering statutes, to forfeit $2,305,850.<br /> <br /> Prosecutors urged the judge to impose a sentence of 136 months -- in the mid-range of the sentencing guidelines -- as a result of his guilty plea to a 17-count indictment charging him with conspiracy to commit bank fraud, bank fraud and money laundering. But Gertner, in imposing a 60-month sentence, went way below the guidelines --which are merely advisory -- in punishing Coutu.<br /> <br /> Defense lawyer James E. Felman, of Tampa, Fla., said after the sentencing that based on testimony and evidence adduced, the judge was convinced that Coutu did not run the scam as 'some sort of Ponzi scheme; and that Ocean Fresh was a legitimate business run legally and lawfully for over 25 years' before Coutu engaged in his fraudulent activity."

Seafood company owner caught in bank fraud gets 5 years - Projo 7 to 7 News Blog | Rhode Island news | The Providence Journal

Seafood company owner caught in bank fraud gets 5 years - Projo 7 to 7 News Blog | Rhode Island news | The Providence Journal: "federal...

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Madoff trustee hits SEC's top attorney with suit

<a href="http://www.amazon.com/Catastrophe-Story-Bernard-Madoff-Swindled/dp/1597776408?ie=UTF8&tag=cosdelcri-21&link_code=bil&camp=213689&creative=392969" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;" target="_blank"><img alt="Catastrophe: The Story of Bernard L. Madoff, the Man Who Swindled the World" src="http://ws.amazon.com/widgets/q?MarketPlace=US&ServiceVersion=20070822&ID=AsinImage&WS=1&Format=_SL160_&ASIN=1597776408&tag=cosdelcri-21" /></a>Madoff trustee hits SEC's top attorney with suit | Reuters: "The lawsuit, filed late last year by Madoff <img alt="" border="0" height="1" src="http://www.assoc-amazon.com/e/ir?t=cosdelcri-21&l=bil&camp=213689&creative=392969&o=1&a=1597776408" style="border: none !important; margin: 0px !important; padding: 0px !important;" width="1" />trustee Irving Picard, targets the SEC's departing General Counsel David Becker along with his brothers William Becker and Daniel Becker. All three are co-executors of their mother Dorothy Becker's estate. Dorothy Becker passed away in June 2004.<br /> <br /> According to the lawsuit filed in federal court in New York, the Becker estate received a little over $2 million since December 11, 2002 from Bernard L. Madoff Investment Securities LLC.<br /> <br /> 'The trustee's investigation has revealed that $1,544,494 of this amount was fictitious profit from the Ponzi scheme,' the suit says. 'Accordingly, defendants have received $1,544,494 of other people's money.'"

Madoff trustee hits SEC's top attorney with suit

Madoff trustee hits SEC's top attorney with suit | Reuters: "The lawsuit, filed late last year by Madoff trustee Irving Picard, tar...

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Cigarettes Cheaper! ex-owner convicted in bank fraud scheme - San Jose Mercury News

<a href="http://www.amazon.com/TarGard-Mini-Disposable-Cigarette-Filters/dp/B000NBGCH6?ie=UTF8&tag=cosdelcri-21&link_code=bil&camp=213689&creative=392969" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;" target="_blank"><img alt="TarGard Mini Disposable Cigarette Filters: Bulk Bag of 100 filters" src="http://ws.amazon.com/widgets/q?MarketPlace=US&ServiceVersion=20070822&ID=AsinImage&WS=1&Format=_SL160_&ASIN=B000NBGCH6&tag=cosdelcri-21" /></a>Cigarettes Cheaper! ex-owner convicted in bank fraud scheme - San Jose Mercury News: "Ned Roscoe, a former owner and officer of Cigarettes<img alt="" border="0" height="1" src="http://www.assoc-amazon.com/e/ir?t=cosdelcri-21&l=bil&camp=213689&creative=392969&o=1&a=B000NBGCH6" style="border: none !important; margin: 0px !important; padding: 0px !important;" width="1" /> Cheaper! was convicted Wednesday in federal court in San Jose of multiple counts of bank fraud.<br /> Roscoe, 51, was found guilty of one count of conspiracy to commit bank fraud and make false statements, 13 counts of bank fraud and 14 counts of making false statements to a bank, according to a story first reported by the Napa Register.<br /> The fraud occurred while Roscoe ran the 800-store national discount chain with headquarters in Benicia, generating $1 billion in annual revenue, the U.S. Department of Justice said in a news release.<br /> The jury agreed that Roscoe had submitted knowingly inflated inventory valuations to Comerica Bank in order to keep his cigarette business afloat during financial stresses. A federal grand jury indicted him and his father, 81-year-old John Roscoe, in 2007 and reindicted on revised charges in September.<br /> John Roscoe pleaded guilty in January to conspiracy to make false statements to a bank."

Cigarettes Cheaper! ex-owner convicted in bank fraud scheme - San Jose Mercury News

Cigarettes Cheaper! ex-owner convicted in bank fraud scheme - San Jose Mercury News: "Ned Roscoe, a former owner and officer of Cigaret...

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Consultant indicted in NY insider trading case - BusinessWeek

<a href="http://www.amazon.com/Street-Insider-Trading-Michael-Douglas/dp/B0038Z5T4Q?ie=UTF8&tag=cosdelcri-21&link_code=bil&camp=213689&creative=392969" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;" target="_blank"><img alt="Wall Street (Insider Trading Edition)" src="http://ws.amazon.com/widgets/q?MarketPlace=US&ServiceVersion=20070822&ID=AsinImage&WS=1&Format=_SL160_&ASIN=B0038Z5T4Q&tag=cosdelcri-21" /></a>Consultant indicted in NY insider trading<img alt="" border="0" height="1" src="http://www.assoc-amazon.com/e/ir?t=cosdelcri-21&l=bil&camp=213689&creative=392969&o=1&a=B0038Z5T4Q" style="border: none !important; margin: 0px !important; padding: 0px !important;" width="1" /> case - BusinessWeek: "A former consultant for a securities research firm that provided links between hedge funds and public companies has been indicted on insider trading charges in New York.<br /> <br /> Winifred Jiau (jow) remains held without bail. The government successfully argued she was a risk to flee to her native Taiwan.<br /> <br /> The indictment charges her with conspiracy to commit securities fraud and wire fraud, and securities fraud. Her lawyers did not immediately respond to a request for comment.<br /> <br /> She was expected to appear in court Wednesday."

Consultant indicted in NY insider trading case - BusinessWeek

Consultant indicted in NY insider trading case - BusinessWeek: "A former consultant for a securities research firm that provided links...

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RBS recovery undermined by Irish losses

RBS recovery undermined by Irish losses | Reuters: "Stephen Hester, chief executive of the partly nationalized bank, said on Thursday that his turnaround plan was ahead of target. But Hester also said political pressures, such as calls by politicians to curb bonuses, could hold back recovery efforts as the bank was used as a 'political football.'<br /> <br /> 'It's a tough thing for us, it can feel pretty beleaguered working at RBS with external and internal pressures, that's one of the handicaps we work with,' Hester told reporters."

RBS recovery undermined by Irish losses

RBS recovery undermined by Irish losses | Reuters: "Stephen Hester, chief executive of the partly nationalized bank, said on Thursday t...

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Oil boss Calum Melville ‘is fall guy for fraud’

Oil boss Calum Melville ‘is fall guy for fraud’ | The Sun |Home Scotland|Scottish News: "Tycoon Calum Melville, 42, and brother Stuart, 45, have been accused of fiddling the cash from an oil industry safety firm they used to own.<br /> <br /> They're being sued for allegedly pocketing payments for goods that were never delivered to the Cosalt company they sold to the GTC Group for a rumoured £30million in 2007.<br /> <br /> But Calum Melville's QC Johnathan Lake told the Court of Session in Edinburgh said there was poor stock control at the Aberdeen firm. He said: 'The real question is whether there has been a shortfall in stock.'"

Oil boss Calum Melville ‘is fall guy for fraud’

Oil boss Calum Melville ‘is fall guy for fraud’ | The Sun |Home Scotland|Scottish News: "Tycoon Calum Melville, 42, and brother Stuart,...

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Torex director jailed for £1.6million fraud

Torex director jailed for £1.6million fraud (From Oxford Mail): "FORMER director of an Oxfordshire company has been jailed for his part in a £1.6m fraud.<br /> <br /> Edwin Dayan was given a 12-month sentence at Oxford Crown Court yesterday after putting non-existent revenue through the accounts of Witney firm Torex Retail in 2006.<br /> <br /> His former colleague Christopher Ford was given a sixth-month jail term, suspended for two years, and ordered to carry out 200 hours’ unpaid work.<br /> <br /> Following a two-month trial, both men were convicted by jurors last month of conspiracy to defraud.<br /> <br /> Torex Retail, which employed more than 100 people in Witney and Banbury, collapsed in 2007 but Judge Patrick Eccles stressed this had nothing to do with the two men’s actions."

Torex director jailed for £1.6million fraud

Torex director jailed for £1.6million fraud (From Oxford Mail): "FORMER director of an Oxfordshire company has been jailed for his part...

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U.S. regulators preparing to sanction banks for foreclosure violations

Political Economy - U.S. regulators preparing to sanction banks for foreclosure violations: "U.S. regulators are preparing to sanction some of the 14 largest, federally regulated banks for 'critical deficiencies and shortcomings' in foreclosure procedures, Acting Comptroller of the Currency John Walsh testified on Thursday.<br /> <br /> <a href="http://www.amazon.com/Oversight-HUD-housing-programs-Ninety-fourth/dp/B003B65R58?ie=UTF8&tag=cosdelcri-21&link_code=bil&camp=213689&creative=392969" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;" target="_blank"><img alt="Oversight of HUD housing programs: Hearing before the Committee on Banking, Housing, and Urban Affairs, United States Senate, Ninety-fourth Congress, second session ... February 20, 1976" src="http://ws.amazon.com/widgets/q?MarketPlace=US&ServiceVersion=20070822&ID=AsinImage&WS=1&Format=_SL160_&ASIN=B003B65R58&tag=cosdelcri-21" /></a>In remarks before the Senate Banking Committee<img alt="" border="0" height="1" src="http://www.assoc-amazon.com/e/ir?t=cosdelcri-21&l=bil&camp=213689&creative=392969&o=1&a=B003B65R58" style="border: none !important; margin: 0px !important; padding: 0px !important;" width="1" />, Walsh said that a multi-agency task force had concluded its examination of the banks and found violations of state and local foreclosures laws, regulations and rules.<br /> <br /> The group identified a 'small number' of foreclosure sales that had gone through improperly, he said.<br /> <br /> However, Walsh said investigators also found that the borrowers who were in foreclosure had seriously delinquent loans and that servicers had legal standing to foreclose.<br /> <br /> He said that the federal government is finalizing sanctions and other remedial action that it is taking against the banks. It is discussing the actions with the 50 state attorneys general who are separately investigating claims of improper foreclosures."

U.S. regulators preparing to sanction banks for foreclosure violations

Political Economy - U.S. regulators preparing to sanction banks for foreclosure violations: "U.S. regulators are preparing to sanction ...

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Gbagbo Government in Ivory Coast Will Seize Banks

Gbagbo Government in Ivory Coast Will Seize Banks - NYTimes.com: "Laurent Gbagbo, the strongman who refuses to step down despite losing a presidential election in November, said Thursday that major banks that had suspended business in Ivory Coast would be nationalized."

Gbagbo Government in Ivory Coast Will Seize Banks

Gbagbo Government in Ivory Coast Will Seize Banks - NYTimes.com: "Laurent Gbagbo, the strongman who refuses to step down despite losing...

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NYPD Commissioner Kelly urges banks to ramp up security against 'Holiday Bandit' Marat Mikhaylich

NYPD Commissioner Kelly urges banks to ramp up security against 'Holiday Bandit' Marat Mikhaylich: "Marat Mikhaylich has pulled seven stickups since early December - including two heists this week alone, officials say.<br /> <br /> He has been hitting branches in Queens, Brooklyn and Staten Island where the barriers around tellers are barely chest-level for a perp the size of Big Bird.<br /> <br /> <a href="http://www.amazon.com/Bandits-Bruce-Willis/dp/B00005V4XW?ie=UTF8&tag=cosdelcri-21&link_code=bil&camp=213689&creative=392969" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;" target="_blank"><img alt="Bandits" src="http://ws.amazon.com/widgets/q?MarketPlace=US&ServiceVersion=20070822&ID=AsinImage&WS=1&Format=_SL160_&ASIN=B00005V4XW&tag=cosdelcri-21" /></a>'Some of them have bandit<img alt="" border="0" height="1" src="http://www.assoc-amazon.com/e/ir?t=cosdelcri-21&l=bil&camp=213689&creative=392969&o=1&a=B00005V4XW" style="border: none !important; margin: 0px !important; padding: 0px !important;" width="1" /> barriers but they are not fully extended to the ceiling and he is tall...and he can sort of tower over it,' Kelly said.<br /> <br /> The partitions can be a deterrent if they're extended much higher, the commissioner added. Two years ago he pushed for a bill to mandate better bank partitions in every bank branch in the city, but City Council lawmakers - worried the barriers would scare off customers - nixed the plan."

NYPD Commissioner Kelly urges banks to ramp up security against 'Holiday Bandit' Marat Mikhaylich

NYPD Commissioner Kelly urges banks to ramp up security against 'Holiday Bandit' Marat Mikhaylich: "Marat Mikhaylich has pulled...

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Bank worker cleared of £466,000 fraud

Bank worker cleared of £466,000 fraud "FORMER Bolton bank worker accused of being involved in a fraud worth almost half-amillion pounds has walked free from court after he was cleared by a jury.<br /> <br /> Mian Rashid was working at the Derby Street branch of NatWest when he opened two accounts for customers which turned out to be fraudulent, Manchester Crown Court heard yesterday.<br /> <br /> Rashid, aged 31, of Rashcliffe Hill Road, Huddersfield, said he did not know the documents used to open the accounts were fraudulent and that he was just doing his job.<br /> <br /> Following a month-long trial the jury yesterday accepted Rashid’s explanation and he was found not guilty of conspiracy to defraud.<br /> <br /> But his co-defendants, Fawad Ahmed and Saalih Ahmed, were both found guilty of the same charge."

Bank worker cleared of £466,000 fraud

Bank worker cleared of £466,000 fraud "FORMER Bolton bank worker accused of being involved in a fraud worth almost half-amillion pounds...

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Police raid offices of Russia s richest woman in £270m fraud probe but has she fled to London? | Mail Online

Police raid offices of Russia s richest woman in £270m fraud probe  but has she fled to London? | Mail Online: "Armed Russian police raided the Moscow offices of the country's richest woman yesterday amid speculation she has fled to London.<br /> <br /> <a href="http://www.amazon.com/Baturin-billions-Baturina-zarabotala-milliardy/dp/5699462538?ie=UTF8&tag=cosdelcri-21&link_code=bil&camp=213689&creative=392969" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;" target="_blank"><img alt="Elena Baturin. As the wife of a former mayor of Moscow has earned billions / Elena Baturina. Kak zhena byvshego mera Moskvy zarabotala milliardy" src="http://ws.amazon.com/widgets/q?MarketPlace=US&ServiceVersion=20070822&ID=AsinImage&WS=1&Format=_SL160_&ASIN=5699462538&tag=cosdelcri-21" /></a>The authorities claimed they were searching for evidence of embezzlement and corruption, while billionaire Elena Baturina<img alt="" border="0" height="1" src="http://www.assoc-amazon.com/e/ir?t=cosdelcri-21&l=bil&camp=213689&creative=392969&o=1&a=5699462538" style="border: none !important; margin: 0px !important; padding: 0px !important;" width="1" /> insisted she was the victim of a 'political' attack.<br /> <br /> She and husband Yuri Luzhkov - long time mayor of Moscow until he was sacked last year - as seen as bitter foes of strongman premier Vladimir Putin."

Police raid offices of Russia s richest woman in £270m fraud probe but has she fled to London? | Mail Online

Police raid offices of Russia s richest woman in £270m fraud probe  but has she fled to London? | Mail Online: "Armed Russian police ra...

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Stanford trial: Cricket loving files his own $7billion case against U.S. prosecutors | Mail Online

<a href="http://www.amazon.com/Sir-Allen-Me-Insiders-Stanford/dp/0692004432?ie=UTF8&tag=cosdelcri-21&link_code=bil&camp=213689&creative=392969" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;" target="_blank"><img alt="Sir Allen & Me: An Insider's Look at R. Allen Stanford and the Island of Antigua" src="http://ws.amazon.com/widgets/q?MarketPlace=US&ServiceVersion=20070822&ID=AsinImage&WS=1&Format=_SL160_&ASIN=0692004432&tag=cosdelcri-21" /></a>Stanford trial: Cricket loving files his own $7billion case against U.S. prosecutors | Mail Online: "Jailed Texas financier R. Allen Stanford<img alt="" border="0" height="1" src="http://www.assoc-amazon.com/e/ir?t=cosdelcri-21&l=bil&camp=213689&creative=392969&o=1&a=0692004432" style="border: none !important; margin: 0px !important; padding: 0px !important;" width="1" /> has filed a lawsuit accusing prosecutors and federal agents of depriving him of his constitutional rights by using abusive law-enforcement tactics.<br /> <br /> The flamboyant 60-year-old is accused of having cheated investors out of $7billion in a pyramid Ponzi scheme.<br /> <br /> He pleaded not guilty to 21 counts of fraud, money laundering and obstruction and faced up to 375 years in jail if convicted."

Stanford trial: Cricket loving files his own $7billion case against U.S. prosecutors | Mail Online

Stanford trial: Cricket loving files his own $7billion case against U.S. prosecutors | Mail Online: "Jailed Texas financier R. Allen St...

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Adviser guilty of role in £1.8m mortgage fraud

<a href="http://www.amazon.com/Bonnie-Clyde-Mortgage-Fraud/dp/B002CACUN6?ie=UTF8&tag=cosdelcri-21&link_code=bil&camp=213689&creative=392969" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;" target="_blank"><img alt="The Bonnie and Clyde of Mortgage Fraud" src="http://ws.amazon.com/widgets/q?MarketPlace=US&ServiceVersion=20070822&ID=AsinImage&WS=1&Format=_SL160_&ASIN=B002CACUN6&tag=cosdelcri-21" /></a>Adviser guilty of role in £1.8m mortgage fraud <img alt="" border="0" height="1" src="http://www.assoc-amazon.com/e/ir?t=cosdelcri-21&l=bil&camp=213689&creative=392969&o=1&a=B002CACUN6" style="border: none !important; margin: 0px !important; padding: 0px !important;" width="1" />- IFAonline: "A Bradford financial adviser has pleaded guilty to taking part in a “calculated and sophisticated” £1.8m mortgage fraud.<br /> Maboob Abbas, 53, owner of Jaffrey Financial Services in Bradford, pleaded guilty at Leeds Crown Court and was sentenced to 40 weeks in jail, suspended for 12 months.<br /> The judge also ordered he carry out 192 hours of unpaid community work."

Adviser guilty of role in £1.8m mortgage fraud

Adviser guilty of role in £1.8m mortgage fraud - IFAonline: "A Bradford financial adviser has pleaded guilty to taking part in a “calcu...

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Sir Stelios lands blow over ex-easyJet boss Andy Harrison's pay | This is Money

<a href="http://www.amazon.com/EasyJet-Britains-Biggest-Low-Cost-Airline/dp/1845132475?ie=UTF8&tag=cosdelcri-21&link_code=bil&camp=213689&creative=392969" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;" target="_blank"><img alt="EasyJet: The Story of Britain's Biggest Low-Cost Airline" src="http://ws.amazon.com/widgets/q?MarketPlace=US&ServiceVersion=20070822&ID=AsinImage&WS=1&Format=_SL160_&ASIN=1845132475&tag=cosdelcri-21" /></a>Sir Stelios lands blow over ex-easyJet<img alt="" border="0" height="1" src="http://www.assoc-amazon.com/e/ir?t=cosdelcri-21&l=bil&camp=213689&creative=392969&o=1&a=1845132475" style="border: none !important; margin: 0px !important; padding: 0px !important;" width="1" /> boss Andy Harrison's pay | This is Money: "Sir Stelios Haji-Ioannou, founder of no-frills airline easyJet, celebrated a minor victory as his revolt against former chief executive Andy Harrison's pay deal attracted some investor support.<br /> Chairman Sir Michael Rake said the payment - which cannot be reversed - was made in a 'unique set of circumstances'.<br /> <br /> Harrison is understood to have been desperate to leave easyJet (down 6p to 377.4p) in frustration at repeated battles with Sir Stelios, but was persuaded to stay and testify in a courtroom branding dispute with the Greek-Cypriot tycoon."

Sir Stelios lands blow over ex-easyJet boss Andy Harrison's pay | This is Money

Sir Stelios lands blow over ex-easyJet boss Andy Harrison's pay | This is Money: "Sir Stelios Haji-Ioannou, founder of no-frills a...

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Lapland brothers guilty of misleading customers

<a href="http://www.amazon.com/I-Love-Lapland-Embroidered-Cap/dp/B002JIKQY6?ie=UTF8&tag=cosdelcri-21&link_code=bil&camp=213689&creative=392969" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;" target="_blank"><img alt="I Love Lapland Embroidered Cap" src="http://ws.amazon.com/widgets/q?MarketPlace=US&ServiceVersion=20070822&ID=AsinImage&WS=1&Format=_SL160_&ASIN=B002JIKQY6&tag=cosdelcri-21" /></a> Lapland<img alt="" border="0" height="1" src="http://www.assoc-amazon.com/e/ir?t=cosdelcri-21&l=bil&camp=213689&creative=392969&o=1&a=B002JIKQY6" style="border: none !important; margin: 0px !important; padding: 0px !important;" width="1" /> brothers guilty of misleading customers: "Two brothers have been found guilty of misleading thousands of customers at a Lapland-themed park.<br /> <br /> Victor Mears, 67, and Henry Mears, 60, operated Lapland New Forest at Matchams Park on the Hampshire-Dorset border in 2008 before it closed.<br /> <br /> A jury at Bristol Crown Court found both men guilty on five counts of misleading advertising.<br /> <br /> The jury is still considering their verdicts on three remaining charges and the pair will be sentenced later.<br /> <br /> The trial has heard that Victor Mears, of Selsfield Drive, and Henry Mears, of Coombe Road, Brighton, could have made more than £1m from up to 10,000 advanced ticket sales."

Lapland brothers guilty of misleading customers

 Lapland brothers guilty of misleading customers: "Two brothers have been found guilty of misleading thousands of customers at a Lapla...

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Four Nova Scotia Politicians Charged in Expense Scandal

Four Nova Scotia Politicians Charged in Expense Scandal: "After a lengthy investigation, a Member of the Nova Scotia Legislature and three former Members have been charged with 52 fraud and theft related offences.<br /> <br /> On Feb. 14, 2011, the RCMP in Halifax announced they have concluded their investigation into what has been known as the Nova Scotia Expense Scandal.<br /> <br /> The investigation was launched by the Commercial Crime Section of the Nova Scotia RCMP on May 12, 2010, after police received some of an internal forensic audit prepared by the province’s Auditor General (AG). This report led to the investigation of one sitting MLA and five former members of the Nova Scotia legislature."

Four Nova Scotia Politicians Charged in Expense Scandal

Four Nova Scotia Politicians Charged in Expense Scandal: "After a lengthy investigation, a Member of the Nova Scotia Legislature and th...

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Cosalt takes £17m hit after alleged fraud

Cosalt takes £17m hit after alleged fraud - Telegraph: "The company also for the first time formally accused former directors Calum Melville and his brother Stuart Melville of perpetrating the alleged fraud, first revealed in October last year.<br /> Cosalt said that following a review by KPMG it would take a £4.5m charge related to fees and a stock and work in progress shortfall. The shares fell 1.63 to 4.38p.<br /> 'The group is pursuing a claim through the Scottish courts against the parties responsible for part of the shortfall,' Cosalt said. 'Currently, the group is seeking damages against Calum Melville and Stuart Melville and companies associated with them.'<br /> Cosalt said the alleged fraud and difficult economy had hit trading in the year to October, leading to revenues below expectations.<br /> The group also said it would take a £2.5m hit for reorganisation costs and was 'considering' a non-cash impairment charge of £10m for goodwill and intangible asset writedowns in the offshore business."

Cosalt takes £17m hit after alleged fraud

Cosalt takes £17m hit after alleged fraud - Telegraph: "The company also for the first time formally accused former directors Calum Mel...

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City Conman Terence Freeman Jailed for 8 Years for Ponzi-Scheme Fraud

<a href="http://www.amazon.com/Ponzis-Scheme-Story-Financial-Legend/dp/0812968360?ie=UTF8&tag=cosdelcri-21&link_code=bil&camp=213689&creative=392969" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;" target="_blank"><img alt="Ponzi's Scheme: The True Story of a Financial Legend" src="http://ws.amazon.com/widgets/q?MarketPlace=US&ServiceVersion=20070822&ID=AsinImage&WS=1&Format=_SL160_&ASIN=0812968360&tag=cosdelcri-21" /></a>City Conman Terence Freeman Jailed for 8 Years for Ponzi-Scheme<img alt="" border="0" height="1" src="http://www.assoc-amazon.com/e/ir?t=cosdelcri-21&l=bil&camp=213689&creative=392969&o=1&a=0812968360" style="border: none !important; margin: 0px !important; padding: 0px !important;" width="1" /> Fraud: "CITY of London conman Terence Freeman has been sent down for eight years after being found guilty of ripping off millions of pounds from 350 people, including an unnamed Premiership footballer, six Metropolitan Police officers and the ex-wife of golfer Colin Montgomerie.<br /> <br /> 'This matter is one of the most serious cases of its kind I have had to deal with in nearly 20 years in this court,' Judge Christopher Hardy told Freeman at Southwark Crown Court yesterday.<br /> <br /> 'It is so serious because of the sheer amount of money involved, the number of victims, over 300, and the type of victims you were dealing with.'<br /> <br /> The court heard that Freeman, 63, swindled &14;M out of his clients and spent the money on the high life, including houses in Cyprus and France and an executive box at Tottenham Hotspur FC's White Hart Lane ground."

City Conman Terence Freeman Jailed for 8 Years for Ponzi-Scheme Fraud

City Conman Terence Freeman Jailed for 8 Years for Ponzi-Scheme Fraud: "CITY of London conman Terence Freeman has been sent down for e...

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Washington Mutual insider probe approved - Business News - IOL | Breaking News | South Africa News | World News | Sport | Business | Entertainment | IOL.co.za

<a href="http://www.amazon.com/Washington-Downtown-Photographic-Lawrence-Worcester/dp/B0034E02G6?ie=UTF8&tag=cosdelcri-21&link_code=bil&camp=213689&creative=392969" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;" target="_blank"><img alt="Washington Mutual Tower in Downtown, Seattle, Washington, USA Photographic Poster Print by Lawrence Worcester, 24x32" src="http://ws.amazon.com/widgets/q?MarketPlace=US&ServiceVersion=20070822&ID=AsinImage&WS=1&Format=_SL160_&ASIN=B0034E02G6&tag=cosdelcri-21" /></a>Washington Mutual <img alt="" border="0" height="1" src="http://www.assoc-amazon.com/e/ir?t=cosdelcri-21&l=bil&camp=213689&creative=392969&o=1&a=B0034E02G6" style="border: none !important; margin: 0px !important; padding: 0px !important;" width="1" />insider probe approved - Business News - IOL | Breaking News | South Africa News | World News | Sport | Business | Entertainment | IOL.co.za: "Washington Mutual shareholders have won a judge’s permission to question hedge funds about allegations that they used confidential information to trade in the bankrupt firm’s securities.<br /> <br /> US Bankruptcy Judge Mary Walrath approved the investigation on Tuesday at a hearing in Wilmington, Delaware.<br /> <br /> Authorising depositions and document subpoenas might be the only way to determine whether the hedge funds violated bankruptcy rules on insider trading, she said.<br /> <br /> “The allegation that troubles the court is that you used that information to trade in the debtors’ securities,” Walrath told a lawyer for one of the four hedge funds. “I don’t know of anybody who feels that is proper.”<br /> <br /> After Washington Mutual filed for bankruptcy in 2008, hedge funds bought debt securities, some for pennies on the dollar, issued by the bank holding company and its former banking unit, Washington Mutual Bank. The hedge funds then battled each other, shareholders, creditors, regulators and JPMorgan Chase, about how to divide the company’s assets."

Washington Mutual insider probe approved - Business News - IOL | Breaking News | South Africa News | World News | Sport | Business | Entertainment | IOL.co.za

Washington Mutual insider probe approved - Business News - IOL | Breaking News | South Africa News | World News | Sport | Business | Enterta...

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For Madoff Victims, an Avenging Angel

<a href="http://www.amazon.com/FRONTLINE-Madoff-Affair-n/dp/B0026MOVN2?ie=UTF8&tag=cosdelcri-21&link_code=bil&camp=213689&creative=392969" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;" target="_blank"><img alt="FRONTLINE: The Madoff Affair" src="http://ws.amazon.com/widgets/q?MarketPlace=US&ServiceVersion=20070822&ID=AsinImage&WS=1&Format=_SL160_&ASIN=B0026MOVN2&tag=cosdelcri-21" /></a>For Madoff Victims, an Avenging Angel - BusinessWeek: "When Bernard Madoff'<img alt="" border="0" height="1" src="http://www.assoc-amazon.com/e/ir?t=cosdelcri-21&l=bil&camp=213689&creative=392969&o=1&a=B0026MOVN2" style="border: none !important; margin: 0px !important; padding: 0px !important;" width="1" />s investment firm collapsed in history's biggest Ponzi scheme more than two years ago, Irving Picard was appointed to the daunting job of trying to collect some of the $65 billion purportedly in customer accounts. Now, with about $10 billion in hand, Picard may be on his way to recovering the $20 billion in principal he estimates was lost to Madoff. And as he pursues hundreds of lawsuits seeking $100 billion from banks and others he claims profited from the fraud, he may be able to give some victims something Madoff never even tried to deliver—a return on their investment.<br /> <br /> His strategy is simple. 'We're looking to collect as much money as possible,' Picard said outside court Jan. 13, after a bankruptcy judge approved a $7.2 billion settlement Picard and U.S. prosecutors reached with the estate of Jeffry Picower, a Madoff investor who died in 2009. The Picower settlement—the biggest of its kind—underscores the tricky position Picard is in: To return money to Madoff's victims, he has to first take it from somebody else. Picard's choices about whom to pay and whom to sue have led some victims to feel wronged again."

For Madoff Victims, an Avenging Angel

For Madoff Victims, an Avenging Angel - BusinessWeek: "When Bernard Madoff' s investment firm collapsed in history's biggest Po...

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Ex-RI state senator gets 27 months in bank fraud

Ex-RI state senator gets 27 months in bank fraud - Boston.com: "A former Rhode Island state senator who admitted fraudulently obtaining $1.7 million in loans and mortgages was sentenced Thursday to 27 months in federal prison.<br /> <br /> <br /> <br /> <blockquote>Christopher Maselli's unusual request for a one-day sentence fell on deaf ears as U.S. District Judge Mary Lisi handed down the sentence in federal court in Providence and ordered him to three years supervised release once his prison term is done.</blockquote><br /> <br /> Lisi criticized the request, telling Maselli 'it trivializes the massive fraud you engaged in.' She ordered him to report to federal prison on March 10.<br /> <br /> Maselli, who until his sentencing had not spoken in court, choked up as he expressed remorse for his crimes.<br /> <br /> 'I am sorry to my family, my friends, and anyone associated or affected by my actions,' he said.<br /> <br /> Maselli, 38, initially pleaded not guilty to eight counts of bank fraud -- each punishable by up to 30 years in prison -- but changed his pleas to guilty in November. His plea was not part of an agreement with prosecutors, who asked for a nearly four-year sentence and an $80,000 fine. Lisi declined to impose the fine, noting that the money would be better spent repaying the fraudulent loans."

Ex-RI state senator gets 27 months in bank fraud

Ex-RI state senator gets 27 months in bank fraud - Boston.com: "A former Rhode Island state senator who admitted fraudulently obtaining...

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Texas men's arraignment on fraud charges postponed | AP Texas News | Chron.com - Houston Chronicle

Texas men's arraignment on fraud charges postponed | AP Texas News | Chron.com - Houston Chronicle: "The arraignment of three Texas businessmen accused of defrauding hundreds of investors out of more than $100 million has been postponed in federal court in Virginia.<br /> A docket notation didn't give a reason for the postponement of Friday's arraignment. A new date hasn't been set.<br /> Thirty-nine-year-old Christian Allmendinger (AHL'-mihn-ding-ur ) of Houston, 35-year-old Adley Abdulwahab (AHB'-duhl-wah-hahb) of Spring and 40-year-old David White of Missouri City are charged with mail fraud, money laundering, conspiracy and securities fraud.<br /> They were principals in companies that bought life insurance policies from insured people at less than face value, then collected the benefits when those people died.<br /> Prosecutors say the defendants illegally portrayed investments in their company as risk-free and misrepresented many aspects of their business."

Texas men's arraignment on fraud charges postponed | AP Texas News | Chron.com - Houston Chronicle

Texas men's arraignment on fraud charges postponed | AP Texas News | Chron.com - Houston Chronicle: "The arraignment of three Texas...

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'Granddad Bandit' pleads guilty to robbing 2 Va. banks in long string of heists

<a href="http://www.amazon.com/Superthief-Master-Burglar-Biggest-History/dp/0966250850?ie=UTF8&tag=cosdelcri-21&link_code=bil&camp=213689&creative=392969" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;" target="_blank"><img alt="Superthief: A Master Burglar, the Mafia, and the Biggest Bank Heist in U.S. History" src="http://ws.amazon.com/widgets/q?MarketPlace=US&ServiceVersion=20070822&ID=AsinImage&WS=1&Format=_SL160_&ASIN=0966250850&tag=cosdelcri-21" /></a>'Granddad Bandit' pleads guilty to robbing 2 Va. banks in long string of heists<img alt="" border="0" height="1" src="http://www.assoc-amazon.com/e/ir?t=cosdelcri-21&l=bil&camp=213689&creative=392969&o=1&a=0966250850" style="border: none !important; margin: 0px !important; padding: 0px !important;" width="1" />: "Federal officials think that the mild-mannered Michael F. Mara stole $83,800 from 26 banks in Virginia, Florida, Texas, New York and elsewhere. His plea was entered in U.S. District Court in Richmond.<br /> <br /> Mara, of Baton Rouge, began his string of robberies at a Richmond bank in December 2008. One of his last robberies was in August in Glen Allen, Va. Mara was able to evade authorities because he didn't follow the typical patterns of a bank robber.<br /> <br /> He never robbed 'a bank in a state where he resided, and he would rarely rob the same bank in a given year,' said Shawn VanSlyke, acting assistant special agent in charge of the FBI's Richmond office.<br /> <br /> 'He would travel as far as Oklahoma or Syracuse from Baton Rouge just for the sole purpose of robbing a bank,' VanSlyke said.<br /> <br /> Mara would sometimes rent cars using his own name, give a fake address and pay in cash to drive to other states to rob banks."

'Granddad Bandit' pleads guilty to robbing 2 Va. banks in long string of heists

'Granddad Bandit' pleads guilty to robbing 2 Va. banks in long string of heists : "Federal officials think that the mild-manner...

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Lebanese Bank Is Accused of Money Laundering

<a href="http://www.amazon.com/Chasing-Dirty-Money-Anti-Money-ebook/dp/B002QHVG7Q?ie=UTF8&tag=cosdelcri-21&link_code=bil&camp=213689&creative=392969" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;" target="_blank"><img alt="Chasing Dirty Money: Progress on Anti-Money Laundering" src="http://ws.amazon.com/widgets/q?MarketPlace=US&ServiceVersion=20070822&ID=AsinImage&WS=1&Format=_SL160_&ASIN=B002QHVG7Q&tag=cosdelcri-21" /></a>Lebanese Bank Is Accused of Money Laundering <img alt="" border="0" height="1" src="http://www.assoc-amazon.com/e/ir?t=cosdelcri-21&l=bil&camp=213689&creative=392969&o=1&a=B002QHVG7Q" style="border: none !important; margin: 0px !important; padding: 0px !important;" width="1" />- NYTimes.com: "The United States accused one of Lebanon’s largest banks on Thursday of laundering hundreds of millions of dollars a month for a multinational drug trafficking organization with ties to Hezbollah.<br /> Related<br /> <br /> <br /> The complaint against the Beirut-based Lebanese Canadian Bank was filed under a rarely used provision of the Patriot Act that allows the Treasury Department to publicly identify financial institutions considered “primary money laundering concerns” and then move to restrict their business dealings in the United States.<br /> <br /> The bank denied knowledge of any wrongdoing, saying in a statement that it would “fully cooperate and coordinate with the relevant regulatory authorities in an effort to demonstrate the integrity and transparency of its operations.”"

Lebanese Bank Is Accused of Money Laundering

Lebanese Bank Is Accused of Money Laundering - NYTimes.com: "The United States accused one of Lebanon’s largest banks on Thursday of la...

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Moody's Downgrades Unsecured Irish Bank Debt , Bank of Ireland, Allied Irish Banks PLC, EBS Building Society, Irish Life & Permanent, Anglo Irish Bank, and Irish Nationwide Building Society.

Moody's Downgrades Unsecured Irish Bank Debt - WSJ.com: "-Moody's Investors Service Inc. cut its ratings on senior debt issued by six Irish banks that is not guaranteed by the Irish government Friday, saying that recent statements cast doubt on the government's willingness to support the banks and there was a growing risk that senior bondholders would share the costs of bailing out the country's banking system.<br /> <br /> The banks whose long-term, unguaranteed senior debt ratings are affected are Bank of Ireland, Allied Irish Banks PLC, EBS Building Society, Irish Life & Permanent, Anglo Irish Bank, and Irish Nationwide Building Society.<br /> <br /> Moody's also put these ratings on review for further possible downgrades. The rating agency said it had until now 'assumed a high degree of systemic support for the banks' senior unsecured debt and deposits' and this had been a reflection of Irish government measures like capital injections and debt guarantees.<br /> <br /> But recent statements by both opposition politicians and Irish Finance Minister Brian Lenihan, who this week postponed further capital injections until after February's election, have brought this support into question.<br /> <br /> Moody's also said there was a growing risk that senior bank creditors would have to share the 'huge fiscal burden' that bank bailouts have placed on taxpayers, 'most likely through distressed exchanges.'"

Moody's Downgrades Unsecured Irish Bank Debt , Bank of Ireland, Allied Irish Banks PLC, EBS Building Society, Irish Life & Permanent, Anglo Irish Bank, and Irish Nationwide Building Society.

Moody's Downgrades Unsecured Irish Bank Debt - WSJ.com: "-Moody's Investors Service Inc. cut its ratings on senior debt issued ...

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U.K. bank regulators are launching a new type of 'stress test' that forces banks to consider unlikely but potentially disastrous scenarios

<a href="http://www.amazon.com/When-All-Hell-Breaks-Loose/dp/142360105X?ie=UTF8&tag=cosdelcri-21&link_code=bil&camp=213689&creative=392969" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;" target="_blank"><img alt="When All Hell Breaks Loose: Stuff You Need To Survive When Disaster Strikes" src="http://ws.amazon.com/widgets/q?MarketPlace=US&ServiceVersion=20070822&ID=AsinImage&WS=1&Format=_SL160_&ASIN=142360105X&tag=cosdelcri-21" /></a>For U.K. Banks, a Calamity Is Born - WSJ.com: "U.K. bank regulators are launching a new type of 'stress test' that forces banks to consider unlikely but potentially disastrous scenarios like a flu pandemic or disruptions to the country's food-supply chain.<img alt="" border="0" height="1" src="http://www.assoc-amazon.com/e/ir?t=cosdelcri-21&l=bil&camp=213689&creative=392969&o=1&a=142360105X" style="border: none !important; margin: 0px !important; padding: 0px !important;" width="1" /><br /> <br /> <blockquote>Disaster Planning<br /> Scenarios U.K. banks are evaluating under new FSA 'stress tests'<br /> It is a far cry from the comparatively quaint variables, bursting property bubbles and economic downturns, that regulators traditionally have used to gauge banks' financial health.</blockquote><br /> The latest exercise, which the U.K.'s Financial Services Authority instructed banks to start conducting in mid-December, is dubbed a 'reverse stress test.' It requires banks to identify potentially fatal events and then to work backward to find ways to revamp their businesses so they would be better prepared to withstand such shocks."

U.K. bank regulators are launching a new type of 'stress test' that forces banks to consider unlikely but potentially disastrous scenarios

For U.K. Banks, a Calamity Is Born - WSJ.com: "U.K. bank regulators are launching a new type of 'stress test' that forces banks...

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Moody's downgrades more Irish banks' to junk rating

 Moody's downgrades more Irish banks' to junk rating: "Credit ratings agency Moody's has cut its rating of four Irish banks to junk status citing concerns over new funding which was due at the end of February.<br /> <br /> The government says it will not make extra funds available before the general election on 25 February.<br /> <br /> Opposition parties, who may form the next government, have expressed opposition to further bank aid.<br /> <br /> Bank of Ireland, Allied Irish Banks, EBS Building Society and Irish Life & Permanent were all downgraded.<br /> <br /> Anglo Irish Bank and Irish Nationwide, which have already been given junk status, were cut further.<br /> <br /> Moody's Investors Service is one of the 'big three' credit ratings agencies, along with Standard & Poors and Fitch Ratings."

Moody's downgrades more Irish banks' to junk rating

 Moody's downgrades more Irish banks' to junk rating: "Credit ratings agency Moody's has cut its rating of four Irish banks...

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Fannie Mae and Freddie Mac's Days Are Numbered, But It's a Big Number

<a href="http://www.amazon.com/Serving-Two-Masters-Yet-Control/dp/0844741663?ie=UTF8&tag=cosdelcri-21&link_code=bil&camp=213689&creative=392969" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;" target="_blank"><img alt="Serving Two Masters, Yet Out of Control: Fannie Mae and Freddie Mac" src="http://ws.amazon.com/widgets/q?MarketPlace=US&ServiceVersion=20070822&ID=AsinImage&WS=1&Format=_SL160_&ASIN=0844741663&tag=cosdelcri-21" /></a>Lawrence G. McDonald: Fannie Mae and Freddie Mac's Days Are Numbered, But It's a Big Number: "government allowed Fannie Mae and Freddie Mac <img alt="" border="0" height="1" src="http://www.assoc-amazon.com/e/ir?t=cosdelcri-21&l=bil&camp=213689&creative=392969&o=1&a=0844741663" style="border: none !important; margin: 0px !important; padding: 0px !important;" width="1" />to become a giant mortgage backed security hedge fund, complete with 70-1 taxpayer funded leverage.<br /> <br /> They had sub Libor financing, meaning the luxury of borrowing money at one of the lowest interest rates in the world, all risks backed by the US taxpayer. To understand this kind of leverage imaging walking into the most profitable casino in Las Vegas, all you have is $100 in your pocket. Yet, because of your good credit, the casino allows you to play blackjack with $7000 at risk on the table. The slightest loss and your equity is wiped out. That's exactly what happened to Fannie and Freddie and today the US taxpayers have lost well over $360 billion in this reckless risk taking bonanza. That's over half the cost of the entire war in Iraq."

Fannie Mae and Freddie Mac's Days Are Numbered, But It's a Big Number

Lawrence G. McDonald: Fannie Mae and Freddie Mac's Days Are Numbered, But It's a Big Number: "government allowed Fannie Mae and...

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