Frank Amodeo, founder of a private- equity fund that sought bankruptcy protection last year, was sentenced to almost 23 years in prison in what prosecutors say was the largest payroll-tax fraud case in U.S. history.
Ex-McKinsey & Co. director Anil Kumar told a jury that Galleon Group LLC co-founder Raj Rajaratnam secretly hired him as a consultant in 2003 for $500,000 to be paid into a Swiss bank account, in violation of McKinsey rules.
A group of Indiana pension funds that hold first-lien debt of Chrysler LLC objected to a plan to auction the company’s assets and said a U.S. District Court judge should rule on whether the sale is lawful.
Amaranth Advisors LLC, the hedge fund that lost $6.6 billion in September 2006, sued Paul Touradji and his employees, seeking at least $350 million for claims including breach of contract and misappropriation of trade secrets.
Bank of America Corp. and UBS AG filed claims in London against the region of Lombardy, pre- empting the municipal authority’s plan to sue the banks in the Italian courts in a dispute about derivatives fees.
AstraZeneca Plc , the U.K.’s second- biggest drugmaker, agreed to pay about $55 million to settle around 5,500 lawsuits related to side effects of the antipsychotic Seroquel, people familiar with the accords said.