Wednesday, March 17, 2010

Deutsche Bank, JPMorgan, UBS Are Charged With Fraud (Update1)

Deutsche Bank AG, JPMorgan Chase & Co., UBS AG and Hypo Real Estate Holding AG’s Depfa Bank Plc unit were charged with fraud linked to the sale of derivatives to the City of Milan.

Indeed, this flies in the face of the endless string of denials. Thanks Jim. There is, however, a big difference between charging and admission of guilt.

Source: bloomberg.com

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