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HomeFINRA Investigates Thomas Weisel for ‘Stuffing’ ARS; Will SEC Investigate FINRA for Same?
Posted by Larry Doyle on May 18th, 2010 3:21 PM |
More evidence of the fraud surrounding auction-rate securities is exposed this morning in a story highlighting how Thomas Weisel Partners ‘stuffed’ $15.7 million of auction-rate securities into client accounts in order to raise cash to pay bonuses. The Wall Street Journal reports, Weisel Accused of ‘Stuffing’ Auction-Rate Securities:
Finance industry regulators have charged Thomas Weisel Partners and one of its former executives with improperly “stuffing” $15.7 million of auction-rate securities into client accounts in order to raise cash to pay bonuses. (more…)
