How Jim Cramer Is Approaching Bank Stocks
Katherine Ross, 21 June 2020
A report by the International Consortium of Investigative Journalists found five global banks moved “staggering sums of illicit cash for shadowy characters and criminal networks that have spread chaos and undermined democracy around the world.”
The report said that JPMorgan Chase and Deutsche Bank and other financial services companies had defied money laundering crackdowns even after being fined by U.S. authorities.
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Ross, Sinclaire & Associates, LLC Fined by FINRA
10 June 2019
An AWC was issued in which the firm was censured and fined $200,000. Without admitting or denying the findings, the firm consented to the sanctions and to the entry of findings that it failed to disclose material facts while assisting with the preparation and circulation of a confidential information memorandum (CIM) to accredited investors for a private placement of notes.
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BlackRock CEO Larry Fink earns recognition as a climate fraud
Friends of the Earth International, 31 October 2018
NEW YORK– In recognition for his outstanding contribution to climate change, the activist group Friends of the Earth U.S. today presented BlackRock CEO Larry Fink with a “climate fraud” award. BlackRock holds more stock in companies contributing to climate change than any other company in the world. Continue reading “Article: BlackRock CEO Larry Fink earns recognition as a climate fraud”
Feds charge billionaire Steven A. Cohen’s hedge fund SAC Capital with insider trading
BARBARA ROSS and BILL HUTCHINSON, 26 July 2013
Wall Street’s richest hedge fund, SAC Capital Advisors, owned by billionaire Steven Cohen, was indicted Thursday by a federal grand jury on charges of being an insider-trading machine. Prosecutors charge that SAC made “hundreds of millions of dollars of illegal profits” from 1999 to 2010 by recruiting employees based on trade secrets they brought to the firm, or if they had the know-how to get them.
The scheme “was substantial, pervasive and on a scale without known precedent in the hedge-fund industry,” the indictment charges. Continue reading “Article: Feds charge billionaire Steven A. Cohen’s hedge fund SAC Capital with insider trading”
SEC Gave “Preferential Treatment” to Wall Street CEO
Brian Ross, Rhonda Schwartz
abc News, 6 October 2008
The SEC gave “preferential treatment” to Wall Street executive John Mack during an insider trading investigation three years ago because Mack was about to become CEO of the Morgan Stanley investment banking firm, the SEC’s inspector general concluded in a report obtained by ABC News.
The report recommended disciplinary action against the SEC’s chief of enforcement, Linda Thomson, and said the firing of an SEC lawyer was “connected” to his persistent attempts to take Mack’s testimony. Read the report’s conclusion and recommendations here.
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