Economy

Demeter

(85,373 posts)

18. Moves in Bond Inquiry Are 1st Successful Criminal Case Related to Meltdown

Thu Feb 2, 2012, 09:57 PM

Feb 2012

http://online.wsj.com/article/SB10001424052970204740904577196810277469348.html?mod=WSJ_hp_LEFTWhatsNewsCollection

Federal prosecutors unveiled criminal charges against three former Credit Suisse Group AG employees, providing a window into the way traders allegedly invented inflated values for mortgage bonds during the financial crisis.

Two of the three men pleaded guilty to criminal charges of conspiracy, admitting they attempted to conceal the scheme from managers in a bid to boost their bonuses.

The guilty pleas mark the first successful criminal case against Wall Street in relation to the financial meltdown...

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... Tansy_Gold Feb 2012 #16

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Moves in Bond Inquiry Are 1st Successful Criminal Case Related to Meltdown Demeter Feb 2012 #18

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