{"id":39593,"date":"2013-12-13T07:57:21","date_gmt":"2013-12-13T12:57:21","guid":{"rendered":"http:\/\/www.hedgeco.net\/news\/?p=39593"},"modified":"2013-12-13T10:11:57","modified_gmt":"2013-12-13T15:11:57","slug":"hedge-fund-fraud-jp-morgan-merrill-lynch-kaupthing-bank","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/12\/2013\/hedge-fund-fraud-jp-morgan-merrill-lynch-kaupthing-bank.html","title":{"rendered":"Hedge Fund Fraud, JP Morgan, Merrill Lynch, Kaupthing Bank"},"content":{"rendered":"<p><a href=\"http:\/\/www.hedgeco.net\/news\/wp-content\/uploads\/2010\/05\/white_collar_crime.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-15931\" alt=\"white_collar_crime\" src=\"http:\/\/www.hedgeco.net\/news\/wp-content\/uploads\/2010\/05\/white_collar_crime-300x198.jpg\" width=\"300\" height=\"198\" srcset=\"https:\/\/hedgeco.net\/news\/wp-content\/uploads\/2010\/05\/white_collar_crime-300x198.jpg 300w, https:\/\/hedgeco.net\/news\/wp-content\/uploads\/2010\/05\/white_collar_crime.jpg 459w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a>New York (HedgeCo.Net) &#8211; Also in the news today, the Guardian reports that <strong>JP Morgan<\/strong> is facing a $2 billion fine for involvement in the Bernard Madoff hedge fund ponzi scheme.<\/p>\n<p>The paper reports that the banking giant has tentatively agreed to pay in order to settle allegations that it knew about and failed to inform US authorities of Madoff&#8217;s suspicious activity.<\/p>\n<p>&#8220;The agreement would be the second time in a month that JP Morgan has been forced to acknowledge wrongdoing,&#8217; the Guardian says, &#8220;On November 19 the bank paid a record $13 billion to settle charges that it routinely bundled poor quality home loans into securities that were billed as high-quality to investors.&#8221;<\/p>\n<p>The Securities and Exchange Commission today charged <strong>Merrill Lynch<\/strong> with making faulty disclosures about collateral selection for two collateralized debt obligations (CDO) that it structured and marketed to investors, and maintaining inaccurate books and records for a third CDO.\u00a0Merrill Lynch agreed to pay $131.8 million to settle the SEC\u2019s charges.<\/p>\n<p>(Iceland) &#8220;Four former executives of\u00a0<strong>Kaupthing Bank<\/strong>\u00a0will recieve between 3 and 5 1\/2 years in prison for financial crimes dating back to 2008.&#8221; The Reykjavik Grapevine <a href=\"http:\/\/grapevine.is\/News\/ReadArticle\/Four-Kaupthing-Executives-Sentenced-To-Prison\" target=\"_blank\">reports<\/a>. &#8220;Investigations into the four go back to the Icelandic bank crash of autumn 2008. In the wake of a report on the contributing causes of the crash from the Special Investigative Commission, the Special Prosecutor\u2019s Office was created. The office targeted many top bank officials from Glitnir and Kaupthing.&#8221;<\/p>\n<p>Alex Akesson<br \/>\nFor\u00a0<a title=\"hedge funds\" href=\"http:\/\/www.hedgeco.net\/\">HedgeCo.net<\/a><br \/>\n<a href=\"mailto:alex@hedgeco.net\">alex@hedgeco.net<\/a><br \/>\n<a title=\"hedge fund\" href=\"http:\/\/www.hedgeco.net\/\">HedgeCo.Net<\/a>\u00a0is a premier\u00a0<a title=\"hedge fund database\" href=\"http:\/\/www.hedgeco.net\/\">hedge fund database<\/a>\u00a0and community for qualified and accredited investors only. Membership in\u00a0<a title=\"hedge fund\" href=\"http:\/\/www.hedgeco.net\/\">HedgeCo.net<\/a>\u00a0is FREE and EASY. We also offer FREE LISTINGS for\u00a0<a title=\"hedge fund\" href=\"http:\/\/www.hedgeco.net\/\">Hedge Funds<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>New York (HedgeCo.Net) &#8211; Also in the news today, the Guardian reports that JP Morgan is facing a $2 billion fine for involvement in the Bernard Madoff hedge fund ponzi scheme. The paper reports that the banking giant has tentatively [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11,3],"tags":[],"class_list":["post-39593","post","type-post","status-publish","format-standard","hentry","category-hedge-fund-fraud","category-hedgeco-news"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/39593","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=39593"}],"version-history":[{"count":5,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/39593\/revisions"}],"predecessor-version":[{"id":39601,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/39593\/revisions\/39601"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=39593"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=39593"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=39593"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}