Kamis, 25 Juli 2013

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SAC Capital faces fraud charges

Breaking news

US authorities have launched criminal charges against the Wall Street hedge fund SAC Capital.

The fund is being charged with four counts of securities fraud and one count of wire fraud, after a long-running investigation.

Prosecutors said the fund was involved in "systematic insider trading" that allowed it to make hundreds of millions of dollars in illegal profits.

SAC has been under investigation for nearly seven years.



Source: BBC News - Business http://www.bbc.co.uk/news/business-23451061#sa-ns_mchannel=rss&ns_source=PublicRSS20-sa