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On February 9, 2006, the Commission announced “the filing and settlement of charges that American International Group, Inc. (AIG) committed securities fraud. The settlement is part of a global resolution of federal and state actions under which AIG will pay in excess of $1.6 billion to resolve claims related to improper accounting, bid ...
A U.S. District Court judge on Monday approved the Security and Exchange Commission's proposed $150 million settlement with Bank of America (BAC) stemming from charges that the company failed to ...
The Global Analyst Research Settlement was an enforcement agreement reached in the United States on April 28, 2003, between the United States Securities and Exchange Commission (SEC), Financial Industry Regulatory Authority (NASD), New York Stock Exchange (NYSE), and ten of the United States's largest investment firms to address issues of conflict of interest within their businesses in ...
Federal Judge Jed Rakoff refused to sign-off on the Securities and Exchange Commission settlement with Bank of America (BAC) over $3.6 billion dollars in bonuses paid to Merrill Lynch employees.
In March 2009, a lawsuit was filed in New York against Bank of America, one of the largest banks in the United States, that claimed that Bank of America "established, equipped and staffed" a branch office in the headquarters of Cosmo's firm, Agape Merchant Advance. As a result, the lawsuit contends that the bank knowingly "assisted, facilitated ...
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Commodities trader Tino De Angelis defrauded clients, including the Bank of America into thinking he was trading vegetable oil. He got loans and made money using the oil as collateral. He showed inspectors tankers of water, with a bit of oil on the surface. When the fraud was exposed, the business collapsed. Herstatt Bank: West Germany: 26 June ...