Wells Fargo reviews wealth business for possible customer abuse

Wells Fargo & Co. is examining its wealth and investment management business for inappropriate recommendations related to possible customer abuse, including overcharging and inappropriate referrals, after inquiries from government agencies, the company said Thursday.

The third-largest U.S. bank's board of directors is looking at whether there were "inappropriate referrals or recommendations, including with respect to rollovers for 401(k) plan participants, certain alternative investments, or referrals of brokerage customers to the company’s investment and fiduciary services business," according to its annual 10-K U.S. Securities and Exchange Commission filing. read more »

Birmingham whistleblower awarded $14.7 million in organ center probe

A Birmingham whistleblower who uncovered and reported an illegal kickback and false billing scheme that defrauded the Alabama Organ Center and taxpayers was awarded a judgment of $14.7 million after winning a jury trial last month. read more »

SEC charges HD View 360 CEO, others over alleged stock manipulation

The U.S. Securities and Exchange Commission has charged the chief executive of HD View 360 Inc, a British broker dealer and others over the alleged stock manipulation of HD View 360’s shares, the agency said in a statement on Friday.

The SEC also halted trading for HD 360 View, a security systems company, adding that the charges stemmed in part from an undercover FBI operation. read more »

Jury Begins Deliberating in Percoco Corruption Trial

For six weeks, the lawyers in a major New York corruption trial have name-dropped top state officials, made countless references to “The Sopranos,” even gotten a star witness thrown in jail.

Now, they wait.

After hundreds of hours of testimony — sometimes explosive, sometimes plodding — about whether Joseph Percoco, a former aide to Gov. Andrew M. Cuomo, sold his influence in state government, the case in Federal District Court in Manhattan has gone to the jury.

Mr. Percoco is accused of accepting more than $300,000 in bribes in return for official actions to help three executives land lucrative state contracts. read more »