Sep 11, 2009
In the latest but perhaps not the last development in its investigation into a trading scandal at the former Baltimore investment firm Ferris Baker Watts, the Securities and Exchange Commission has fined a senior executive $75,000 for failing to respond to red flags indicating that a broker under his supervision was involved in a stock manipulation scheme.
The SEC ordered Louis J. Akers, who was Ferris' vice chairman, to hand over another $19,187 in improper gains and $5,973 in interest, and prohibited him ... Read More
Jun 18, 2009
A federal court has ordered a payment processor that debited consumers’ bank accounts without their authorization to pay $1,779,000 in consumer redress and to end the illegal practice. Payment processors serve as middlemen between merchants and banks or credit card companies. In 2006, the Federal Trade Commission charged the defendants with unfairly debiting thousands of consumer accounts for a merchant’s nonexistent “discount pharmacy cards,” despite indications that the pharmacy card operation was bogus.
According to the FTC’s complaint, the payment processor did not ... Read More
Jan 24, 2009
Citigroup, recipient of another $45 billion, made the opposite call. While trying to keep a low profile, the company is still fielding an army of Washington lobbyists working on a host of issues, including the bailout. In the fourth quarter, it spent $1.77 million on lobbying fees, according to its lobbyists’ filings. Read More
Nov 12, 2008
We are in a great time to bring to light what is wrong with our employeers, and their slothful ways. With pending regulations ahead, and a new government, it becomes our civic duty to expose the waste. If you have a story you would like to share, contact us. We have a great research team that is dedicated to finding answers, and making things right for those who are wronged. You will remain completely anonymous (unless you specifically ask to be exposed) ... Read More
