Posted on 06/11/03
Bigger fund ripoffs exist than illegal trading
Yesterday was a good day for the U.S. mutual fund industry: Not a single high-profile executive was hit with criminal charges or forced to resign in disgrace because of his or her company's involvement in the late-trading scandal. Perhaps New York Attorney-General Eliot Spitzer was feeling under the weather, or was simply taking a break from crucifying Wall Street to concentrate on something else, such as his undeclared campaign for state governor in 2006.
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