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Guilty Plea In $13m Phony Facebook and Groupon Stock Scheme

Facebook In Browser

Preet Bharara, the United States Attorney for the Southern District of New York, announced today that JOHN A. MATTERA pled guilty in Manhattan federal court to charges of securities fraud, wire fraud, and conspiracy to commit securities fraud and wire fraud in connection with a $13m scheme to defraud investors through false ownership claims of stock in Facebook and Groupon before their initial public offerings, and in other private companies. In connection with his guilty plea, MATTERA agreed to pay restitution to the victims of his offense and consented to the entry of a $13m forfeiture order.

No Recovery Until 2018, IMF Warns

Christine Lagarde

The International Monetary Fund's chief economist has warned that the global economy will take a decade to recover from the financial crisis as the latest snapshot of the UK economy suggested that growth in the third quarter will be at best anaemic.



UBS building

People News: SocGen, UBS.

Societe Generale has named Alexandre Courbon head of French mergers and acquisitions and said Hubert Preschez will assume responsibility for global relations with large French companies.