Royal Bank of Scotland Group Plc, Britain’s biggest taxpayer-owned lender, must face a lawsuit by a bond insurer over what it claims was the bank’s sale of $1.15 billion of securities backed by “thousands of defective and fraudulently originated” home loans.
Lynne F. Stewart , the lawyer convicted in 2005 of helping an extremist cleric pass messages from prison to his terrorist followers, was sentenced to 10 years in prison, compared with a 28-month term imposed earlier.
Former Societe Generale trader Samarth Agrawal , accused of stealing the company’s computer code for high-frequency trading, was granted a delay of his trial after his lawyer said he has evidence which could exonerate him.
Swiss Reinsurance Co. the world’s second-biggest reinsurer, won dismissal of an investor suit in which it was accused of failing to disclose risk that led to a 1.2 billion franc ($1.1 billion) derivative loss over credit- default swaps.
Jerome Kerviel was sentenced to three years in prison and ordered to repay Societe Generale SA ’s 4.9 billion-euro ($6.8 billion) trading loss by a judge who said the former trader’s actions threatened the bank’s existence.
Attorney Lynne Stewart , convicted of helping an extremist cleric pass messages from prison to terrorist followers, deserves an enhanced sentence because of statements she made after her conviction and sentencing, U.S. prosecutors said.
Lynne F. Stewart, the lawyer imprisoned for helping an incarcerated Egyptian cleric pass messages to his terrorist followers, told a U.S. appeals court her 10-year sentence is punishment for exercising her free- speech rights.