April 2009
Who is Danny Pang, a mystery man? Ponzi scheme
Move over, Marc Dreier, Bernie Madoff, and Sir Allen Stanford. There’s a new financial villain on the scene, Danny Pang a native of Taiwan and the chairman and CEO of Private Equity Management Group Inc. in Irvine, has been a business partner wit...
UBS axed 240 Jobs in Asia-Pacific Wealth Mgmt group
Swiss bank UBS AG (UBS) is laying off 100 staff in Singapore, which together with Hong Kong as part of efforts to cut costs. The bank is shedding 240 jobs, or about 8% of the work force altogether in Asia Pacific, all from its wealth management group. ...
Citigroup likely to sell Nikko Citigroup with Nikko Cordial Securities and Nikko Asset Management Co.
Citigroup Inc. of the United States intends to add Nikko Citigroup Ltd. to its plan to sell Nikko Cordial Securities Inc., Japan’s third-largest brokerage and Nikko Asset Management Co. in Japan. Citigroup has proposed selling the three Nikko fir...
October 2008
Tom Petters jailed but Lancelot Investment Lent About $1 Billion to Petters Affiliates: Sun Country warns of possible shutdown
In my view, No he didn’t ’steal’ the money. There is no report of him ’stealing’ any money. He and his associates fraudulently induced wealthy people and hedge funds to loan his company money. Most of this 2 billion has b...
1
(4 marks)
