Kareem Serageldin, a former banker of Credit Suisse, was sentenced to 30 months in prison for his role in the scheme that inflated the prices of subprime mortgage bonds artificially at a time when housing and credit conditions were taking a turn for the worse.
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Abu Dhabi investment firm TNI names new CEO to replace Osmansoy
Abu Dhabi-based investment firm, The National Investor (TNI), has appointed a new chief executive officer to replace Orhan Osmansoy, who resigned after nine years at the helm, the company said in a statement on Sunday.
Abraaj Group's senior partner Stefanel leaves firm - sources
Matteo Stefanel, a senior partner at emerging markets-focused private equity firm Abraaj Group, has left the company, two banking and industry sources aware of the matter said.
Master Bank with Putin ties gets license revoked by Russian central bank
The shutdown of Russian bank Master Bank was the central bank's most high-profile move yet under the leadership of Russia's first female governor Elvira Nabiullina.
Team Singular backs Israeli startups with combined USD34.5 million
The fund formerly known as Genesis Angels supported startups like Sirim, StoreDot Ltd and other chosen, early-stage startups in Israel via a combined investment of USD34.5 million.
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Tesla CEO Elon Musk is confident that the Model S vehicle would soon be cleared and deemed safe by federal investigators. He isn't expecting a recall and said Tesla engineers are not currently working on any fixes for the vehicles and has instead amended its warranty to cover fire loss in crashes.
NBC Universal is close to getting a minority stake in a new company being formed by technology journalists Walt Mossberg and Kara Swisher whom runs AllThingsD from sources whom are familiar with the situation.
Although Nissan had set a timeframe of its release of self-driving cars to the public, a report by US News argued that Google might be launching its version of the self-driving car earlier.
Federal Governor Daniel Tarullo said regulators should put their attention not only on banks but on the shadow banking system as well. He said policy options for shadow banks needed to be reformulated to counter its risks.
Tobias Meyer, Sotheby's chief auctioneer, left the auction house prior to his end of contract a week after spearheading the company's biggest sale, which was Andy Warhol's "Silver Car Crash" for USD104.5 million.
Investors showed support in nutrition company Herbalife International on the stock exchange on Friday despite another attack from activist investor Bill Ackman of hedge fund Pershing Square Capital Management.
Stephen Cutler, the top lawyer for JPMorgan Chase, lashed out against government regulators in an industry conference at The Clearing House attended by both bankers and regulators.
A Hawaiian stewardess made history on Friday by becoming the first person in history to purchase a USD 250,000 Virgin Galactic ticket by using Bitcoin. Virgin Galactic CEO, Sir Richard Branson has announced during an interview with CNBC.
Incoming New York comptroller Scott Stringer will be faced with the challenge of bringing down the management fees paid by the city's five pension funds when he assumes office in January, a Bloomberg report said.
