Federal prosecutors investigating the collapse of Lehman Brothers have subpoenaed several executives associated with the company, including former CEO Richard Fuld, a source briefed on the inquiry said.
An attorney for Lehman Brothers Holdings, Harvey Miller, told a bankruptcy court judge on Thursday that at least 12 people have received grand jury subpoenas in connection with several ongoing probes of the bank’s demise.
He did not identify which executives had been asked for information, but said the company was dealing with separate investigations by federal prosecutors in New Jersey, Brooklyn and Manhattan. New Jersey’s attorney general has said state securities regulators there are also investigating.
Separately, Singapore’s central bank was investigating accusations of misconduct in the sale of investments packaged by Lehman Brothers Holdings and other financial institutions (FI) hit by the global financial crisis, news reports said yesterday.
The Monetary Authority of Singapore “confirms that we have been conducting formal inquiries into allegation of breaches of law, inadequate internal controls by the FIs or poor sales practices by their representatives,” the authority said in a statement on Friday.
It was the latest move by the central bank to help some of the 10,000 retail investors in Singapore who invested S$500 million (US$337.91 million) in financial products linked to Lehman Brothers.
Singaporeans who bought failed Lehman minibonds have been pressing the government to help salvage their investments. The central bank has not ruled out buying back Lehman minibonds.
Meanwhile, the Hong Kong Monetary Authority appointed PricewaterhouseCoopers LLP to monitor bank repurchases of minibonds guaranteed by Lehman Brothers.
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Teleperformance SE, the largest call-center operator in the world, is rolling out an artificial intelligence (AI) system that softens English-speaking Indian workers’ accents in real time in a move the company claims would make them more understandable. The technology, called accent translation, coupled with background noise cancelation, is being deployed in call centers in India, where workers provide customer support to some of Teleperformance’s international clients. The company provides outsourced customer support and content moderation to global companies including Apple Inc, ByteDance Ltd’s (字節跳動) TikTok and Samsung Electronics Co Ltd. “When you have an Indian agent on the line, sometimes it’s hard
‘SACRED MOUNTAIN’: The chipmaker can form joint ventures abroad, except in China, but like other firms, it needs government approval for large investments Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) needs government permission for any overseas joint ventures (JVs), but there are no restrictions on making the most advanced chips overseas other than for China, Minister of Economic Affairs J.W. Kuo (郭智輝) said yesterday. US media have said that TSMC, the world’s largest contract chipmaker and a major supplier to companies such as Apple Inc and Nvidia Corp, has been in talks for a stake in Intel Corp. Neither company has confirmed the talks, but US President Donald Trump has accused Taiwan of taking away the US’ semiconductor business and said he wants the industry back
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