富国银行和瓦乔维亚（Walls Fargo）和卢森堡（LBBW Luxemburg）起诉，涉嫌$ 1.5B证券欺诈bob200体育

LBBW Luxemburg SA has filed abob200体育证券欺诈诉讼对富国银行公司（WFC）及其单位Wachovia Corp.的反对，涉嫌15亿美元的证券欺诈骗局。bob200体育该案涉及2006年的交易，涉及富国银行（Wells Fargo）出售其据称是吹捧的证券，并将其评级很高给LBBW和其他客户。bob200体育LBBW是Landesbank Baden-Wurttemberg子公司，购买了4000万美元residential mortgage-backed securities.

Now, the European bank is contending that the underlying mortgages were riskier than represented and not worth their buying price. Within a year, the securities had defaulted. LBBW is alleging common law fraud, breach of contract, constructive fraud, negligent misrepresentation, and breach of fiduciary duty.

Per the plaintiff’s attorneys, the alleged financial fraud was discovered after the SEC investigated a $5.5 million investment that the Zuni Indian Tribe’s employee pension fund made. The Securities and Exchange Commission had accused Wachovia of selling overpriced equity in Grant Avenue II, a collateralized debt obligation, to the tribe and another investor. The Commission contended that after marking down some of the equity to 52.7 cents on the dollar, Wachovia charged 90 cents and 95 cents on the dollar. The bank was also accused of misleading investors in Longshore 3, another CDO, by saying that assets had been acquired from affiliates at prices that were fair market when, actually, claims the regulator, 40 securities had been moved at prices that were above market and Wachovia moved assets at prices that were stale so it wouldn’t have to report the losses.

The SEC said that while it did not consider Wachovia to have acted improperly in the way it structured the CDOs, the bank violated investment protection rules by using stale prices, even as buyers were being told the prices were fair market value, and charging excessive markups in secret. The Commission found that the Zuni Indians and other investors suffered financial losses as a result. Last year, Wachovia agreed to pay $11 million to settle charges accusing it of violating federal securities laws in its sale of MBS leading up to the collapse of the housing market.

European Bank LBBW Sues Wells Fargo Over Alleged $1.5 Billion Securities Fraud，萨克拉曼多蜜蜂，2012年10月1日

German bank sues Wells Fargo alleging $1.5 billion securities fraud，旧金山商业时报，2012年10月2日

Wells Fargo Settles Case Originating At Wachovia, The New York Times, April 5, 2012

更多的博客文章:
莱曼兄弟澳大利亚发现，在2012年9月25日bob200体育

REIT Retail Properties of America’s $8 Public Offering Results in Major Losses for Fund Investors, Institutional Investor Securities Blog, April 17, 2012

德州证券欺诈bob200体育: Investor Sues Behringer Harvard REIT I, Stockbroker Fraud Blog, September 26, 2012

如您所见，次级抵押贷款危机五年后，机构投资者以及个人投资者仍在寻求弥补损失。在Shepherd Smith Edwards和Kantas，Ltd，LLP，我们代表银行，金融公司，公司，合伙企业，大信托，大型信托，慈善组织，学区，市政府，城市，高净值个人和私人基金会，试图从证券欺诈和证券欺诈和证券欺诈和证券中追回损失bob200体育金融公司及其代表在出售CDO，MBS，RMB，REIT和其他投资产品方面采取的其他非法/不当行动。

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