Spitzer goes after "Mutual Funds/Hedge Funds Engaged in After Hours Trades

[KoKo]

Big Breaking News Today........and if you didn't see it this a.m. it disappeared by PM.

What our "Mutual Funds" were doing "after hours" with our Banks who deal in Mutual Funds consent.

More Corporate/Bank/Brokerage Scams that are ongoing......taking our investments and diluting our savings......

Spitzer sets sights on funds
N.Y. attorney general probe includes Janus, Strong

By Luisa Beltran, CBS.MarketWatch.com
Last Update: 7:30 PM ET Sept. 3, 2003







NEW YORK (CBS.MW) -- Fresh from his showdown with Wall Street investment firms, New York
State Attorney Eliot Spitzer on Wednesday turned his guns on the mutual fund industry.

Spitzer announced a potentially far-reaching
probe of fraud and securities violations
involving five companies, one of which -
Bank of America - he said was "essentially
being bought off."

Spitzer also announced a $40 million
settlement with hedge fund Canary Capital
Partners LLC.

Canary will pay $30 million in restitution as
well as a $10 million penalty and has
agreed to cooperate in Spitzer's
investigation of the fund industry.

"The full extent of this complicated fraud is
not yet known," Spitzer said in a
statement. "But one thing is clear: The
mutual-fund industry operates on a double
standard. Certain companies and
individuals have been given the opportunity
to manipulate the system."

According to the complaint filed in New
York State Supreme Court, Bank of
America's Nations Funds, Janus Capital
Corp., Strong Capital Management and
Bank One Corp.'s Banc One Fund took part
in wider schemes that allegedly bilked
small investors out of tens of millions of
dollars.

Spitzer said there is no formal complaint
currently against the mutual funds, but he
added that his office is continuing to
investigate.
http://cbs.marketwatch.com/news/story.asp?guid=%7BB906E7A6%2D0A71%2D4B48%2DB06E%2DA3BCE514AB11%7D&siteid=mktw

[pasadenaboy]

1. I hope whoever the next president is

considers him for AG

He is a fighter!!