Ex-Lehman boss could be charged

first_img Tags: NULL Show Comments ▼ Share FORMER Lehman Brothers chief Dick Fuld could face civil charges as early as this week in connection with the firm’s collapse.The US Securities and Exchange Commission (SEC) is understood to be organising a series of meetings with big players involved with the bank before its demise almost two years ago, according to reports in the US by Fox News.It is understood investigators are especially interested in Lehman’s use of controversial accounting practice Repo 105, which can be used to artificially shore up a company’s balance sheet. It is also eager to discover whether executives were responsible for misleading the market about the strength of Lehman’s assets and capital position in the weeks before its collapse. An SEC spokesman told City A.M.: “We cannot confirm or deny any ongoing investigations.”Fuld’s attorney Patricia Hynd, of law firm Allen & Overy, was unavailable for comment last night.The Lehman boss, nicknamed “the Gorilla” for his aggressive manner, was questioned extensively in the wake of the collapse, which sent shockwaves around the world and was blamed for exacerbating the financial crisis. Six months after the crash he is understood to have told Lehman staff: “I spent too much time out of the office with clients and trusted other people to manage the risk. I’m sorry.” whatsapp Tuesday 17 August 2010 8:29 pmcenter_img KCS-content Ex-Lehman boss could be charged Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoNoteabley25 Funny Notes Written By StrangersNoteableyUndoZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen HeraldUndoCrowdy FanShe Didn’t Know Why Everyone Was Staring At Her Hilarious T-ShirtCrowdy FanUndoBetterBe20 Stunning Female AthletesBetterBeUndoautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comUndoAtlantic MirrorA Kilimanjaro Discovery Has Proved This About The BibleAtlantic MirrorUndoTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoElite HeraldKate Middleton Dropped An Unexpected Baby BombshellElite HeraldUndo Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family ProofCheese Crostini: Delicious Recipes Worth CookingFamily Proof whatsapplast_img

Leave a Reply