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August 2016 Archives

Hedge fund manager facing DUI and drug charges

A high-flying hedge fund manager known for his successful investments found himself behind bars on Aug. 13 after being involved in an early morning car accident in New York. The 35-year-old man has been charged with drug possession and suspicion of driving while under the influence of drugs or alcohol. He was also cited for speeding and making an improper lane change.

New book claims financial crisis was not caused by fraud

The collapse of New York-based Lehman Brothers in September 2008 triggered a financial crisis that threatened the very survival of the world's capital markets, and experts, journalists, politicians and everyday Americans reacted angrily in the aftermath when it became clear that not a single Wall Street executive would be prosecuted. Some pundits claimed that the lack of prosecutorial action was a sign that the whole financial system was rigged, but the federal prosecutor who led the Enron investigation believes that no fraud actually took place.

Man charged with DWI in deadly crash

A 33-year-old New York man who was injured in a car accident was arraigned at a hospital on July 29 on felony DWI charges. The crash reportedly resulted in the death of an 18-year-old girl. Additional charges may potentially be filed depending on the outcome of the investigation.

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