Martin Shkreli, a lightning rod for growing outrage over soaring prescription drug prices, was arrested in New York by the FBI on Thursday on securities fraud charges involving his former hedge fund and a pharmaceutical company he previously headed.
Volkswagen will dismiss Chief Executive Martin Winterkorn, a German newspaper said on Tuesday, after the carmaker admitted to cheating U.S. vehicles emissions tests and said 11 million of its cars could be affected worldwide.
The five years it took regulators to bring high-profile charges against a UK trader underscore how hard it is to spot wrongdoing in fast-developing markets, and may herald problems in detecting future mishaps.
Deutsche Bank said none of its management board members had been found to have been involved in or aware of efforts by dozens of its staff to manipulate benchmark interest rates like Libor over a seven year period.
U.S. and British regulators fined Deutsche Bank $2.5 billion and its British subsidiary plead guilty to criminal wire fraud on Thursday as it became the eighth financial group to settle allegations of rigging interest rate benchmarks.
The trustee recovering money for Bernard Madoff's victims on Monday announced a settlement to recoup $93 million from a "feeder fund" that sent client money to the swindler's firm, boosting the total sum raised to roughly $10.65 billion.