Topic: Financial Services Sector
Wachovia settles money laundering case for $160M
AP News
Wachovia paying $160M to settle case involving laundering of Mexican drug moneyBanking giant Wachovia Corp. will pay $160 million to settle a federal investigation into laundering of illegal drug profits through Mexican exchange houses in the largest case of its kind ever brought against a U.S. bank, prosecutors said ...
Lehman receives OK to delay disclosure statement
Reuters US Online Report Business News
NEW YORK (Reuters) - A bankruptcy judge said on Wednesday Lehman Brothers Holdings Inc <LEHMQ.PK> could delay until mid-April filing a detailed disclosure statement for its proposed plan to end its bankruptcy. The disclosure statement, which is a necessary step for Lehman to get creditor approval for its ...
Wachovia pays $160 million to settle drug money probe
Reuters US Online Report Domestic News
MIAMI (Reuters) - The Wachovia Bank unit of Wells Fargo & Co has agreed to pay $160 million to settle U.S. allegations that it laundered Mexican drug money. Under the agreement, Wachovia will forfeit $110 million, representing the proceeds of illegal narcotics sales that were laundered through the bank, the ...
SEC says Lehman report will be helpful
Reuters US Online Report Domestic News
WASHINGTON (Reuters) - A Lehman Brothers bankruptcy examiner's report will help securities regulators in their investigation of large financial firms involved in the Wall Street meltdown, a top regulator said on Wednesday. Securities and Exchange Commission Chairman Mary Schapiro, testifying at a congressional hearing, provided scant details on who and ...
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