by Leah Finnegan on July 29, 2010
A former hedge-fund manager has pleaded guilty to criminal charges in an investment scam in which he bilked as much as $900-million from investors, including four university endowments. In his plea, Paul R. Greenwood said on Wednesday that he and his partner, Steven Walsh, had spent money from the investment accounts on themselves and their family members. According to investigators, the two spent at least $160-million on mansions, horses, rare books, and an $80,000 collectible teddy bear. Mr. Walsh has pleaded not guilty, and Mr. Greenwood will testify against him at trial.
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Hedge-Fund Manager Allegedly Swindled Universities Out Of Millions Of Dollars, Bought Mansions, Books, Collectible Teddy Bears
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By Angela Greiling Keane Feb. 4 (Bloomberg) — Toyota Motor Corp.’s Prius hybrid car is under investigation by the U.S. Transportation Department for reports of defective brakes in its 2010 model. The department’s National Highway Traffic Safety Administration said in a statement today that it has received 124 reports from consumers, including four saying crashes occurred. “Safety is our top priority,” Transportation Secretary Ray LaHood said in the statement. “We will continue to monitor these issues closely.” LaHood and Toyota President Akio Toyoda talked “late” yesterday, according to the statement. Toyoda “reassured” LaHood that the company “takes U.S. safety concerns seriously and puts safety at the top of the company’s priorities,” according to the statement. To contact the reporter on this story: Angela Greiling Keane in Washington at agreilingkea@bloomberg.net
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Toyota 2010 Prius Brakes Investigated by U.S. Government, Following Japan
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