Morgan Stanley says Joseph “Chip” Skowron, the former hedge fund manager serving a five-year prison term for insider trading, should forfeit more than $31 million in compensation for failing to fulfill his duties.
Ex-Qwest Communications International Inc. chief Joseph Nacchio shouldn’t be allowed an income tax deduction for the $44.6 million he forfeited after his conviction for insider trading because it would undercut his punishment, a government lawyer said.
The Online Lenders Alliance wants the group that manages a U.S. payment system to clarify warnings on illegal use of the network by payday-loan firms, saying the message is posing a threat to legitimate business.
Raj Rajaratnam, the hedge fund manager sentenced to 11 years in prison for insider trading, was assigned to a federal prison medical center in Massachusetts, according to a person familiar with the matter.
Colorado’s Corrections Department is selling $112 million in bonds backed by rent on a prison it hopes to lease as similar debt is beating top-rated securities in the $3.7 trillion municipal market for a fifth-straight year.
HealthSouth Corp. founder Richard Scrushy’s 70-month prison sentence for making a campaign contribution to Alabama’s former governor in exchange for a seat on a state hospital board was upheld by a federal appeals court.
Morgan Stanley can pursue a fraud claim as it seeks to recover damages from Joseph “Chip” Skowron, a former hedge fund manager serving a five-year prison term for insider trading, a federal judge ruled.