Bribery, Fraud & Tax Evasion
While the nation's economy flounders, business is booming for The GEO Group Inc., a private prison firm paid millions by the U.S. government. Behind the financial success and expansion of the for-profit security company, there are increasing charges of negligence, civil rights violations, abuse and even death.
JP Morgan - the Wall Street investment bank - and SAC - a major hedge fund - were hauled up Friday for alleged fraud. JP Morgan was questioned at a U.S. Senate hearing about hiding trading losses while SAC agreed to pay $614 million to settle insider trading charges.
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WASHINGTON, DC -- An Enron Corp. backlash is rolling across Europe, feeding skepticism about the United States as a financial role model as top U.S. and European Union market regulators prepare to meet here next week.
JP Morgan, the Wall Street investment bank, has been fined $920 million for violating trading laws that were discovered after trader Bruno Iksil (nicknamed the "London Whale") lost billions in bets last May. It was also fined over $80 million for credit card scams in an unrelated incident.