Enforcement Directorate yet to give final report on SatyamSeptember 15th, 2009 KOLKATA - The Enforcement Directorate (ED) is yet to give its final report on the multi-crore accounting fraud in Satyam Computers, Corporate Affairs Minister Salman Khurshid said here Tuesday. "The ED and the US Internal Revenue Services (IRS) are looking basically at the compensation angle of the fraud.
Beazer Homes prices 12 percent senior notes due 2017 at 89.5 percent of the principal amountSeptember 3rd, 2009 Beazer Homes prices senior notes at a discountATLANTA — Beazer Homes USA Inc. on Thursday said its private offering of senior secured notes was priced equal to 89.5 percent of the $250 million aggregate principal amount of the notes.
Fannie Mae, AIG, Crocs, Leap Wireless, CBS, Beazer are among big market movers FridayAugust 7th, 2009 Fannie Mae, AIG, Crocs, Leap Wireless big moversNEW YORK — The following stocks were among those that moved substantially or traded heavily Friday on the New York Stock Exchange and Nasdaq Stock Market:
NYSE:
Fannie Mae, down 13 cents at 66 cents
The government-sponsored mortgage finance company posted another huge quarterly loss and said it will tap $11 billion in new federal aid. Colonial BancGroup Inc., down 21 cents at 49 cents
The bank is under criminal investigation by the government over alleged accounting irregularities at its mortgage warehouse lending unit.
Report: Former AIG CEO Greenberg to pay $15 million to settle SEC fraud allegationsAugust 6th, 2009 Report: Former AIG CEO to settle fraud chargesNEW YORK — Former American International Group CEO Maurice "Hank" Greenberg is expected to pay a $15 million fine to settle fraud allegations brought by the Securities and Exchange Commission, according to The Wall Street Journal. Former chief financial officer Howard Smith is expected to pay a $1.5 million fine, the Journal said in a report on its Web site Thursday, citing anonymous people.
Homebuilder Beazer Homes' third-quarter loss narrows to $27.9 million, revenue tumblesAugust 6th, 2009 Beazer Homes sharply narrows its 3Q lossBeazer Homes USA Inc. said Thursday it cut its fiscal third-quarter loss sharply, largely because of a gain from a reduction in its debt load, and the homebuilder noted new home order trends showed signs of improvement.
SEC: Former AIG CEO Greenberg to pay $15 million fine to settle accounting fraud chargesAugust 6th, 2009 SEC: Ex-AIG CEO Greenberg settles fraud chargesNEW YORK — The Securities and Exchange Commission said Thursday that former American International Group CEO Maurice "Hank" Greenberg agreed to pay a $15 million fine to settle fraud charges. The charges are tied to an accounting scandal earlier this decade at AIG that led to Greenberg's ouster in 2005.
Beazer Homes adopts shareholder rights plan aimed at preserving tax benefits from prior lossesJuly 31st, 2009 Beazer Homes adopts shareholder rights planATLANTA — Homebuilder Beazer Homes Inc. on Friday said its board adopted a new shareholder rights plan aimed at preserving the tax benefits it can book from its prior losses.
Feds charge 41 in Fla. mortgage fraud schemes involving $40 million in 6 different casesJuly 28th, 2009 Feds charge 41 in Fla. mortgage fraud schemesMIAMI — Federal prosecutors say 41 people have been charged in the latest round of South Florida mortgage fraud schemes.
Bank of America names chief accounting officerJuly 23rd, 2009 Bank of America names chief accounting officerCHARLOTTE, N.C. — Bank of America Corp.
Satyam Raju's judicial remand extended till July 22July 8th, 2009 HYDERABAD - A city court Wednesday extended by two weeks the judicial remand of disgraced founder and former chairman of Satyam Computer Services B. Ramalinga Raju and other accused in the Rs.78 billion accounting fraud case.
Federal prosecutors in file criminal fraud conspiracy charges against Beazer HomesJuly 1st, 2009 Criminal charges filed against Beazer HomesATLANTA — Federal prosecutors in North Carolina have filed criminal fraud conspiracy charges against Beazer Homes USA. The Atlanta-based homebuilder has been under scrutiny for certain business and financial practices.
SEC charges Cohmad firm, four people with fraud in raising billions from investors for MadoffJune 22nd, 2009 SEC charges firm, 4 people with fraudWASHINGTON — Federal regulators have charged a brokerage firm called Cohmad Securities and four people with securities fraud, accusing them of funneling billions of dollars from investors into Bernard Madoff's pyramid scheme. The Securities and Exchange Commission announced the civil fraud charges on Monday against Cohmad, its chairman, Maurice Cohn, chief operating officer Marcia Cohn and broker Robert Jaffe.
GM's chief restructuring officer at a glanceJune 1st, 2009 GM's chief restructuring officer at a glanceNAME: Albert A. Koch
AGE: 67
POSITION: General Motors chief restructuring officer
BACKGROUND: Vice chairman and managing director at AlixPartners LLP.
GM, Whirlpool, Beazer Homes, Qualcomm, Us Airways are big market movers MondayApril 27th, 2009 GM, Whirlpool, Beazer Homes, Qualcomm big moversNEW YORK — Stocks that moved substantially or traded heavily Monday on the New York Stock Exchange and Nasdaq Stock Market:
NYSE
General Motors Corp., up 35 cents at $2.04
The automaker laid out a massive restructuring plan that includes an offer to swap roughly $27 billion in bond debt for GM stock. Whirlpool Inc., up $2.96 at $43.69
The appliance maker said its first-quarter profit dropped on slumping sales, softening consumer demand and the stronger dollar.
Three Satyam executives arrested, sent to jailApril 6th, 2009 HYDERABAD - The Central Bureau of Investigation (CBI) has arrested three top executives of Satyam Computer Services Ltd in connection with the Rs.78 billion accounting fraud. G. Ramakrishna, vice-president, finance, D.
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