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  • Former Trump campaign chair Paul Manafort found guilty of tax, bank fraud

    President Donald Trump's former campaign chair was just found guilty of tax and bank fraud. A jury in Alexandria, Virginia, found former Trump presidential campaign chair Paul Manafort guilty on eight charges of tax and bank fraud. The jury, which was deliberating 18 total charges, was unable to reach a consensus on 10 of the counts. Click the headline for the full story.

Items Tagged with 'RMBS'

ARTICLES

  • Feds drop case against bond trader Jesse Litvak

    5-year battle reaches an end
    For bond trader Jesse Litvak, the past five years have been a whirlwind of court cases and even jail time for his role in the financial crisis. Now, however, the federal government announced it is dropping its case against Litvak after two different convictions of fraud were overturned in the federal appeals court.
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  • RBS to pay $20 million to Illinois pension funds over crisis-era mortgage bonds

    New settlement is bank’s eighth such settlement in recent years
    For the third time this year, the Royal Bank of Scotland is about to pay up over the bank’s mortgage practices in the run-up to the housing crisis. RBS has already reached a nearly $5 billion settlement with the Department of Justice and a $500 million settlement with the state of New York. Now, the bank has agreed to a new $20 million settlement with the state of Illinois.
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  • Merrill Lynch ordered to pay $15.7M for cheating customers in mortgage bond trades

    SEC orders company to pay up for misleading customers
    Merrill Lynch will pay $15.7 million to settle allegations that its employees misled mortgage bond customers and overcharged those customers residential mortgage-backed securities trades during a three-year period from 2009 through 2012, the Securities and Exchange Commission announced this week.
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  • RBS reaches $4.9 billion settlement with DOJ over pre-crisis mortgage bonds

    Proposed settlement would be far less than originally estimated
    For the second time this year and at least the seventh time in recent memory, the Royal Bank of Scotland is about to cut a massive check as part of a settlement over the bank’s mortgage practices in the run-up to the housing crisis. Back in March, it was a $500 million settlement with the state of New York. Now, RBS is preparing for a nearly $5 billion settlement with the DOJ that would cover the bank’s issuance and underwriting of mortgage-backed securities between 2005 and 2007.
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  • Former Cantor Fitzgerald mortgage bond trader found not guilty of securities fraud

    Feds rebuked twice in one week in pursuit of RMBS traders
    It has not been a good week in court for the federal government and its pursuit of fraud charges against mortgage bond traders. On Thursday, the Court of Appeals for the Second Circuit tossed the fraud conviction of former Jefferies mortgage-backed securities trader Jesse Litvak, marking the second time the government has failed in its five-year pursuit of Litvak. But that wasn’t the only defeat the government took in court on Thursday.
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  • Jesse Litvak freed: Court overturns mortgage bond trader’s fraud conviction, again

    Court of Appeals reverses Litvak’s conviction for second time
    The government’s five-year push to see former Jefferies managing director and mortgage-backed securities trader Jesse Litvak jailed for mortgage bond fraud is about to fail again, as the Court of Appeals has again sided with Litvak, overturning a lower court’s conviction and ordering Litvak released from jail.
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