J.P. Morgan Chase Reported to Be Near Settlement with Federal Prosecutors

Today The New York Times is reporting that banking giant JP Morgan Chase is nearing settlement with the United States Attorney for the Southern District of New York on a deferred prosecution agreement arising out of the bank’s relationship with convicted Wall Street swindler Bernard Madoff. The settlement will result in the government not filing […]

New York AG Sues Bank of America for Fraud

The New York Attorney General sued Bank of America last week as the bank had reached a settlement with the Securities and Exchange Commission involving two other enforcement actions. The AG’s suit, filed in New York state court, alleges that BofA and two of its former officers committed securities fraud in connection with the bank’s […]

New York AG Sues Feeder to Madoff Fraud

The New York state attorney general has filed a civil suit in state court charging money manager and philanthropist J. Ezra Merkin with fraud and breach of fiduciary duty based on New York State law. The complaint alleges that Merkin fraudulently invested approximately $2.4 billion with convicted fraudster Bernard Madoff and fraudulently derived management fees […]

New York Medicaid to Stop Paying for Hospital Mistakes

New York state Medicaid officials have announced that beginning in October 2008, the program will stop paying for 14 avoidable hospital errors. The list includes such mistakes as performing surgery on the wrong patient, performing the wrong surgical procedure on the right patient, and medication errors. The officials believe that the 14 errors should never […]