Former hedge fund manager faces federal securities fraud charges in $7 million stock scam

Ex-hedge fund boss charged in stock scam

NEW YORK — A former hedge fund manager arrested earlier this year has been indicted on federal charges he participated in a $7 million insider trading scam.

Feds: 14 charged in widening $25M Wall Street insider trading case

Feds: 14 charged in insider trading case

NEW YORK — Two attorneys and Wall Street professionals were among 14 people charged Thursday in a widening $53 million insider trading case that has snared one of America’s richest men and shown white collar suspects to be using the cover-up tactics of drug dealers.

Names of dozens of lawmakers under ethics scrutiny go public when confidential report leaks

Congressional ethics report leaks, revealing names

Private memo from congressional ethics probe leaks, naming dozens of lawmakers under scrutiny

Congressional ethics report leaked, reveals names

Ethics panel starts probes of 2 Calif. lawmakers, has to explain when private memo gets online

Ethics report leaked, discloses internal probes

Federal judge in Seattle lets multibillion dollar Washington Mutual securities lawsuit proceed

Judge lets huge WaMu securities lawsuit advance

Sarah Palin financial disclosure says she has received at least $1.25M in book deal

Palin makes at least $1.25 million in book deal

Palin financial disclosure says former governor received $1.25M from HarperCollins for book

Palin receives $1.25M for book retainer

ANCHORAGE, Alaska — Sarah Palin reports she received $1.25 million as a retainer for her upcoming book “Going Rogue.”

SEC accuses promoter, ex-brokerage exec of bilking seniors with ‘free lunch’ seminars

WASHINGTON — Federal regulators on Thursday accused a real estate funds promoter and former brokerage executive with bilking mostly elderly investors of about $12 million by using “free lunch” seminars to lure them to invest.

Heart device maker AGA set to go public, but with key products years away, investors are wary

NEW YORK — Investors appear cautious ahead of AGA Medical Holdings Inc.’s initial public offering scheduled for Wednesday, as the potential blockbuster heart devices the company is developing are several years from reaching the market.

3 South Fla. men accused of running Ponzi scheme that bilked $14M from Haitians in Fla., NJ

MIAMI — Three men are accused of running a Ponzi scheme that scammed more than $14 million from hundreds of Haitian-American investors in South Florida and New Jersey.

Summary of actions by the Supreme Court on Tuesday

The Supreme Court on Tuesday:

Supreme Court will hear former Enron CEO Jeff Skilling appeal of criminal convictions

WASHINGTON — The Supreme Court said Tuesday it will take up former Enron CEO Jeff Skilling’s appeal of his convictions for his role in the collapse of the energy giant, accepting another high-profile challenge to a favorite tool of prosecutors in white-collar and public corruption cases.

Americans Ostrom and Williamson win Nobel economics prize, Ostrom 1st female winner

WASHINGTON — Elinor Ostrom became the first woman to win a Nobel Prize in economics, honored along with fellow American Oliver Williamson on Monday for analyzing economic governance — the rules by which people exercise authority in companies and economic systems.

Sysco CEO DeLaney earns $3.2 million during fiscal 2009, down from previous year

CHICAGO — CEO William J. DeLaney at food distributor Sysco Corp. saw his total compensation dip 4 percent during the most recent fiscal year, even as he was promoted to the company’s top post this spring, according to an Associated Press analysis of a regulatory filing.

ALL BUSINESS: Corporate boards still fail at leadership development and executive pay

NEW YORK — Corporate directors don’t like it when shareholders accuse them of being management cronies, but how else can they be seen when they drop the ball on basic responsibilities like leadership development and executive pay?

House ethics committee expands investigation of House Ways and Means Chairman Charles Rangel

WASHINGTON — The House ethics committee on Thursday expanded its investigation of Rep. Charles Rangel to include his belated financial disclosure of hundreds of thousands of dollars in previously unreported assets and income.

Insurers AIG, Hartford, Travelers look to cash in as Verisk Analytics IPO expected Wednesday

CHARLOTTE, N.C. — Insurance data specialist Verisk Analytics Inc. shares are set to debut Wednesday, and a handful of insurance giants, including government-supported American International Group Inc., are looking to cash in their shares.

Symetra Financial files registration statement with SEC for proposed initial public offering

BELLEVUE, Wash. — Symetra Financial Corp. on Monday said it filed a registration statement with the Securities and Exchange Commission for a proposed initial public offering of common stock.

ALL BUSINESS: Pay package for new Freddie Mac CFO is sending a disturbing message

NEW YORK — The pay package given to Freddie Mac’s new chief financial officer should have sent a message from Washington to corporate America about how executive compensation standards must change. Instead, it did just the opposite.

Ohio AG takes lead role in securities lawsuit alleging concealment by Bank of America

COLUMBUS, Ohio — Ohio has taken the lead role in an aggressive securities lawsuit alleging that Bank of America Corp. concealed billions of dollars in losses and bonuses paid during the bank’s merger with Merrill Lynch.

Talecris Biotherapeutics to raise about $515M in week’s largest IPO, proceeds to pay debt

NEW YORK — Talecris Biotherapeutics Inc. is expected to go public this week after a two-year pause, potentially giving the two private equity firms behind the biotechnology company a payday while allowing Talecris to pay debt.

Cisco Systems CEO John Chambers received $14.2M in 2009 compensation, up 16 pct from year ago

NEW YORK — The chief executive of Cisco Systems Inc., John Chambers, received $14.2 million in compensation for the latest fiscal year, up 16 percent from a year earlier due to more generous allotments of stocks and options, according to an Associated Press calculation of figures disclosed in a regulatory filing.

Fallen money-market fund makes $1 billion distribution, with $3.5B remaining amid litigation

BOSTON — A money-market mutual fund that held more than $60 billion before it notoriously “broke the buck” a year ago said Wednesday it will hand out $1 billion in a fifth distribution to investors from the fund’s remaining assets.

ACORN names former Mass AG Harshbarger to investigate housing program

WASHINGTON — The community activist group ACORN said Tuesday it has selected a former Massachusetts attorney general to investigate its housing program and other public service projects after employees were caught on video giving advice to a couple posing as a prostitute and pimp and Congress moved to cut off its federal funding.

Ways and Means Chairman Charlie Rangel: a man with many friends and many ethics issues

WASHINGTON — Rep. Charlie Rangel, the latest congressional titan with ethics problems, is described by a longtime House colleague as the guy who would make sure everyone put on oxygen masks during a flight emergency, but would have to be told to put on his own.

Former executive at Berkshire Hathaway’s Gen Re sentenced to probation in AIG fraud case

HARTFORD, Conn. — A former executive of Berkshire Hathaway’s General Re was sentenced Tuesday to two years probation for his role in a financial scandal that cost shareholders of insurer American International Group Inc. more than $500 million.

‘Harry Potter and the Forbidden Journey’ to be marquee ride at Universal Orlando park in 2010

MIAMI — It sounds like a new book in the Harry Potter series, but “Harry Potter and the Forbidden Journey” will be a high-tech ride and the marquee attraction at the “Wizarding World of Harry Potter,” a new theme park area opening in spring 2010 at Universal Orlando Resort.