Schottenfeld Group 8 People Arrested
November 5, 2009 by Trend PK
Filed under World News
Schottenfeld Group 8 People Arrested: Eight more people have been arrested in the Galleon insider-trading scandal, sources familiar with the matter said on Thursday. Federal and state authorities plan to announce charges against 14 new defendants, including the eight arrested, the sources said.
Schottenfeld Group 8 People Arrested:Eight more people have been arrested in the Galleon insider-trading scandal, sources familiar with the matter said on Thursday.
Federal and state authorities plan to announce charges against 14 new defendants, including the eight arrested, the sources said. Authorities scheduled a news conference at midday.
The new arrests include an attorney with the law firm Ropes & Gray and former employees of Incremental Capital hedge fund, according to a source familiar with the matter.
Former employees of trading firm Schottenfeld Group are among those that will be charged, a Schottenfeld official said.
The new arrests come nearly three weeks after Raj Rajaratnam, the billionaire founder of hedge fund firm Galleon Group, and five others were charged in the case.
Galleon, a prominent New York-based firm that once managed $7 billion and specialized in technology and healthcare companies, has since shut down.
The scandal sent shockwaves through the financial world and unnerved the $1.4 trillion hedge fund industry at a time when performance was improving and investors were committing new money.
One criminal complaint accused Rajaratnam, 52, considered the richest Sri Lankan in the world, of conspiring with Intel Capital treasury department managing director Rajiv Goel and Anil Kumar, a director of McKinsey & Co. The alleged offenses took place over three years starting in January 2006.
A second complaint accused three other people — New Castle portfolio manager Danielle Chiesi, New Castle general partner Mark Kurland and Robert Moffat, a senior vice president in the IBM technology group — of insider trading and earning millions of dollars in illegal profits.more details reuters
Schottenfeld Group 8 People Arrested
November 5, 2009 by Trend PK
Filed under World News
Schottenfeld Group 8 People Arrested: Eight more people have been arrested in the Galleon insider-trading scandal, sources familiar with the matter said on Thursday. Federal and state authorities plan to announce charges against 14 new defendants, including the eight arrested, the sources said.
Schottenfeld Group 8 People Arrested:Eight more people have been arrested in the Galleon insider-trading scandal, sources familiar with the matter said on Thursday.
Federal and state authorities plan to announce charges against 14 new defendants, including the eight arrested, the sources said. Authorities scheduled a news conference at midday.
The new arrests include an attorney with the law firm Ropes & Gray and former employees of Incremental Capital hedge fund, according to a source familiar with the matter.
Former employees of trading firm Schottenfeld Group are among those that will be charged, a Schottenfeld official said.
The new arrests come nearly three weeks after Raj Rajaratnam, the billionaire founder of hedge fund firm Galleon Group, and five others were charged in the case.
Galleon, a prominent New York-based firm that once managed $7 billion and specialized in technology and healthcare companies, has since shut down.
The scandal sent shockwaves through the financial world and unnerved the $1.4 trillion hedge fund industry at a time when performance was improving and investors were committing new money.
One criminal complaint accused Rajaratnam, 52, considered the richest Sri Lankan in the world, of conspiring with Intel Capital treasury department managing director Rajiv Goel and Anil Kumar, a director of McKinsey & Co. The alleged offenses took place over three years starting in January 2006.
A second complaint accused three other people — New Castle portfolio manager Danielle Chiesi, New Castle general partner Mark Kurland and Robert Moffat, a senior vice president in the IBM technology group — of insider trading and earning millions of dollars in illegal profits.more details reuters
Whatcom Middle School Fire,Whatcom Middle School
November 5, 2009 by Trend PK
Filed under World News
Whatcom Middle School Fire,Whatcom Middle School: A fire the broke out about 1 a.m. Thursday at Whatcom Middle School in Bellingham burned until dawn, causing the roof and parts of the 106-year-old building to collapse.
Whatcom Middle School Fire,Whatcom Middle School:A fire the broke out about 1 a.m. Thursday at Whatcom Middle School in Bellingham burned until dawn, causing the roof and parts of the 106-year-old building to collapse.
A strong wind fanned the flames. Fire Chief Bill Boyd told The Bellingham Herald firefighters warned neighbors downwind to watch for firebrands.
Boyd says firefighters did a quick search of the school and found no one inside before they were forced to withdraw.
No word yet on the cause of the fire.
School District spokeswoman Tonya Rowe said the building was undergoing a seismic retrofit.
Police Lt. Rick Sucee said roofers were seen welding as late as 10:30 p.m. Wednesday.
The district is looking for other class space for the 580 students.
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On the Net:
http://www.bsd501.org.
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Information from: The Bellingham Herald, http://www.bellinghamherald.com
Whatcom Middle School Fire,Whatcom Middle School
November 5, 2009 by Trend PK
Filed under World News
Whatcom Middle School Fire,Whatcom Middle School: A fire the broke out about 1 a.m. Thursday at Whatcom Middle School in Bellingham burned until dawn, causing the roof and parts of the 106-year-old building to collapse.
Whatcom Middle School Fire,Whatcom Middle School:A fire the broke out about 1 a.m. Thursday at Whatcom Middle School in Bellingham burned until dawn, causing the roof and parts of the 106-year-old building to collapse.
A strong wind fanned the flames. Fire Chief Bill Boyd told The Bellingham Herald firefighters warned neighbors downwind to watch for firebrands.
Boyd says firefighters did a quick search of the school and found no one inside before they were forced to withdraw.
No word yet on the cause of the fire.
School District spokeswoman Tonya Rowe said the building was undergoing a seismic retrofit.
Police Lt. Rick Sucee said roofers were seen welding as late as 10:30 p.m. Wednesday.
The district is looking for other class space for the 580 students.
—
On the Net:
http://www.bsd501.org.
—
Information from: The Bellingham Herald, http://www.bellinghamherald.com
