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New York Probes Banks, Insurers on Home Policies

LIZ RAPPAPORT AND LESLIE SCISM The Wall Street Journal 01/10/2012

New York's Department of Financial Services has been probing banks and insurance companies for allegedly obtaining excessive fees on homeowners' policies that they force borrowers to pay for when their insurance lapses, said people familiar with the matter.

WJB Capital Group Sued in New York State for Alleged Fraud David McLaughlin BusinessWeek 01/03/2012	New York City’s swankiest neighborhoods are footing much of the country’s tax bill, IRS data shows Phyllis Furman New York Daily News 11/23/2011
WJB Capital Group Inc., the Wall Street firm that said it shut down its brokerage operations, was sued in New York over an alleged fraud.	Do you blame rich New Yorkers for the country’s ills? Well, maybe you should thank them instead.
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IRS: Budget cuts would hurt service, raise deficit ALAN FRAM AP 10/17/2011	Madoff Trustee Sues Jewish Association for $5.2 Million Linda Sandler The Washington Post 10/15/2011
Legislation that would trim hundreds of millions of dollars from the Internal Revenue Service budget would force significant cuts in the services it provides taxpayers and cost the government $4 billion annually in lost revenue, the agency warned Congress on Monday.	The liquidator of Bernard L. Madoff’s firm sued the Jewish Association for Services for the Aged for $5.2 million in fictitious profit over six years.
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Gucci workers 'tortured' during shifts Jonathan Russell Telegraph 10/14/2011	Galleon Group Insider Scandal Yields an Average 3-Year Term for Defendants David Glovin, Patricia Hurtado Bloomberg.com 10/09/2011
Employees of luxury goods manufacturer Gucci were subject to "torture", being made to stand for 14 hours a day, pay for goods stolen by customers and being forced to ask for toilet breaks.	Galleon Group LLC co-founder Raj Rajaratnam is set to be sentenced this week for insider trading after being convicted by a jury in Manhattan federal court for directing the biggest insider-trading scheme in a generation.
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Judge: FDNY minority hiring practices will be monitored Julie Cannold CNN 10/06/2011	NY attorney general seeks $2B recovery from Mellon BusinessWeek 10/04/2011
A federal judge has ordered that an official monitor be put in place to prevent discrimination in the hiring of New York City firefighters.	New York Attorney General Eric Schneiderman is suing Bank of New York Mellon, claiming it defrauded clients in foreign currency exchange transactions and seeking $2 billion allegedly earned that way over 10 years.
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