Investigation, Lawsuits May Hinder Riggs Sale
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Wall Street is expressing growing doubt that Riggs National Corp.&#39;s sale to PNC Financial Services Group Inc. will go off as planned, or even at all.
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At least two more states are  investigating charges of bid-rigging in the U.S. insurance  industry brought by New York Attorney General Eliot Spitzer  last week.
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The US trial of a Briton accused of offering to sell weapons to bring down planes may be delayed due to illness.
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Some aggrieved investors are turning to lawyers to pursue possible legal claims stemming from losses at two Bear Stearns Cos.  hedge funds that were virtually wiped out from large, illiquid bets on risky mortgages.
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A market drop could end up helping prospective investors in this forklift products firm.
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An eBay seller and Universal Music Group are battling in a legal case that could have wider implications for a consumer's right to resell purchased music.
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The FBI's investigation of 14 corporations in a crackdown on improper subprime lending could expand to other companies, but the complex probes may take some time before any charges are brought, a federal law enforcement official said on Wednesday.
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Federal regulators and prosecutors are scouring tape recordings of more than 150 Riggs Bank board meetings as they investigate what role top executives, including former chairman Joe L. Allbritton, played in more than a decade of violations of anti-money-laundering laws at the company, according to five sources familiar with the tapes.
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Being on the board of Riggs Bank or its holding company, Riggs National Corp., was a diverting sideline for some of Washington's old-line business figures. According to accounts of past directors and various executives with knowledge of the meetings during the 1990s, board meetings were undemanding and often amusing affairs, frequently over lunch.
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Federal regulators are blocking the planned sale of WBIX-AM and investigating whether prospective buyer Christopher Egan is paying a lowball price for the station as they seek to untangle a multimillion-dollar financial fraud allegedly committed by station owner and financial planner Bradford C. Bleidt.
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Riggs Bank has agreed to plead guilty to a federal criminal charge and pay a $16 million fine to settle an investigation of money laundering at the D.C. bank, according to sources close to the matter.
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A U.S. judge may be laying the groundwork for a plea agreement or possible dismissal of a case against 16 former KPMG  partners accused of creating and marketing fraudulent tax shelters, legal experts said.
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A board member of US media giant Dow Jones may face civil action over breaches of securities laws.
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Officials said State Department investigators lacked the authority to offer the deals and that they could complicate efforts to prosecute the firmâs employees.
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Gold Fields&#39; plan to merge with Iamgold of Canada could end up mired in legal challenges if a crucial shareholder vote next week produces a close result.
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Riggs Bank is trying to reach a settlement with the Justice Department by the end of the month that would end the federal government's criminal probe of the company and remove the biggest roadblock to its pending merger with PNC Financial Services Group Inc., sources familiar with the negotiations said yesterday.
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The Justice Department has launched a criminal investigation into possible wrongdoing at Riggs Bank, which has already paid a $25 million civil penalty for its failures to abide by laws designed to prevent money laundering.