After four years leading U.S. government efforts to prosecute financial crime, Lanny Breuer is returning to private practice where he’ll help expand his old law firm’s white-collar criminal defense practice.
Tom Hanks has a knack for playing the roles that define American generations. In “Saving Private Ryan,” he embodied the courage of the men who landed on the Normandy beaches under heavy fire. In “Apollo 13,” he conveyed calm and ingenuity under intense pressure: “Houston, we have a problem.” And Forrest Gump revealed much about America before, during and after the Vietnam War.
In October 2007, Todd Farha and his company were thriving. The chief executive officer of WellCare Health Plans Inc. had sold $57 million of his stock over three years as the share price rose seven-fold. Starting in 2002 with seed money from a George Soros fund, he had built WellCare into the largest insurer in Florida’s Medicaid program.
HSBC Holdings Plc’s Mexican branches had become so well-known to drug traffickers as the place to launder proceeds from illicit sales that cartels began using special boxes to speed transactions, U.S. prosecutors said.
Morgan Stanley reached a settlement with MBIA Inc. over credit-default swaps that led to billions of dollars of losses for the bank, agreeing to terminate the contracts and drop a challenge to the insurer’s restructuring.
BP Plc’s former head of commodities trading Quek Chin Thean and three other ex-employees countersued the oil company after being accused of misusing confidential information and helping BP’s rival set up a competing business.
UBS AG will pay about $1.5 billion and two former traders face prison as the bank settled charges with U.S. and U.K. authorities for manipulating interest rates in a global conspiracy to boost profits and bonuses.