Mutual Fund Accused of Fraud In Rapid Trading by Managers

Article Abstract:

The Security and Exchange Commission and state regulators have filed civil suits against Putnam Investments and two of its former fund managers, making accusations of fraud in which some large investors were allowed to trade rapidly in and out of mutual funds, in violation of the company's own stated policy. In addition, the suits allege securities fraud, claiming that Putnam did not disclose improper, personal trades made by its managers that harmed public shareholders.

Management dynamics, Public affairs, Investment Offices, Mutual Fund Mgmt Companies, Portfolio Management, Ethics, Management, Appointments, resignations and dismissals, Ethical aspects, Mutual funds, Mutual fund industry, Company business management, Putnam Investments Inc., Scott, Justin M., Kamshad, Omid

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4 Executives At Ahold Unit Are Indicted

Article Abstract:

Four executives at U.S. Foodservice have been indicted for allegedly inflating the company's earnings by over $800 million. In a separate civil complaint, the Securities and Exchange Commission has accused the four of overstating income by $700 million and of urging some suppliers to help keep the fraud concealed. The four are Michael Resnick, Mark Kaiser, Timothy J. Lee and William F. Carter. Peter O. Marion and Mr. Lee have been charged with insider trading.

FOOD AND KINDRED PRODUCTS, Food industry, Investigations, U.S. Foodservice, Food and beverage production/distribution software, Resnick, Michael, Kaiser, Mark, Lee, Timothy J., Carter, William F., Marion, Peter O.

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Ex-Xerox execs settle SEC charges for $22M

Article Abstract:

The author examines the out of court settlement made by the U.S. Securities and Exchange Commission with two past executives of Xerox Crop. over charges of fraud.

Xerox Corp., XRX, Compromise and settlement, Settlements (Law), Computer peripherals industry, Fines (Penalties), Accounting procedures

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