Former Goldman Sachs Group Inc. Vice President Fabrice Tourre, accused of fraud for his role in a failed $1 billion investment tied to the housing market collapse, perpetrated a “very simple” scheme aimed at feeding “Wall Street greed,” a government lawyer told jurors yesterday.
MF Global Capital LLC sued Bank of America Corp., Citigroup Inc. and nine other financial companies, claiming they were part of a plot to unlawfully restrict the market for trading credit-default swaps.
Lions Gate Entertainment Corp. sued billionaire Carl Icahn over the Metro-Goldwyn-Mayer Inc. studio deal in federal court in New York, alleging the financier was “secretly plotting” to merge the studios.
A telephone call between a financial adviser in Beverly Hills and a trader in New York was all it took to fleece taxpayers on a water-and-sewer financing deal in West Virginia. The secret conversation was part of a conspiracy stretching across the U.S. by Wall Street banks in the $2.8 trillion municipal bond market.
Paul Ceglia, who claims half the holdings of Facebook Inc. co-founder Mark Zuckerberg, must produce originals of the contract and e-mails that he says prove his case, a judge ordered at the request of the company.
Bank of America Corp. is among a group of lenders that may face a wave of new lawsuits claiming cash-strapped counties were cheated out of millions of dollars by a system used for more than a decade to register mortgages.