Masters of the Universe category archive
Well, there is some good news.
A Brooklyn jury deliberated five days before finding Shkreli guilty on three of eight counts. He had been charged with securities fraud, conspiracy to commit securities fraud and conspiracy to commit wire fraud.
Prosecutors had accused Shkreli of repeatedly misleading investors about what he was doing with their money. Mostly, he was blowing it with horrible stock picks, forcing him to cook up a scheme to recover millions in losses, they said.
Much more at the link. The story does not mention a sentencing date.
Apparently, pretty damned far.
Scandal-plagued Wells Fargo is back in hot water for signing customers up for products that they didn’t need or want. This time it’s auto insurance, and the bank says it may have cost about 20,000 people their cars.
San Francisco-based Wells Fargo acknowledged late Thursday that it enrolled roughly 570,000 auto loan borrowers for what’s known as collateral production insurance on their vehicles when the customers already had appropriate insurance. It will pay $80 million in refunds and account adjustments to those people.
If my father were alive today, he would be ashamed of the industry that he worked in for two decades.
Thom talks to Jesse Eisinger, author of The Chickenshit Club, on how justice fails to prosecute executives in this riveting two part interview.