Despite warning, "prime bank" scams resurface

Article Abstract:

Financial regulators and legal prosecutors are warning investors on new financial scams. The new scam involve investments in the so called "prime bank" investments. Prime bank misleads potential investors with secret notes and debentures supposedly issued by European banking institutions. The debentures are supposed to offer 1,000% returns annually however, investors are told that they missed the set date for joining the financial programs and their financial investments are not returned.

Government regulation (cont), Open-End Investment Funds, Investment Funds & Trusts

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Cendant hopes canceling merger allows growth

Article Abstract:

Cendant, based in Parsippany, NJ, has cancelled its $3.1 billion acquisition of American Bankers Insurance Group. The cancellation of the merger plan is expected to give the firm, which is the franchiser of brands such as Century 21, Ramada and Avis, opportunity for growth and investment confidence. Cendant hopes to get out of the mess created by an accounting fraud scandal that has wiped out over $23 billion ot its market value since April 1998.

Comment:

Cancels $3.1 bil acquisition of American Bankers Insurance Group

Diversified Companies, Asset sales & divestitures, Acquisitions & mergers, Insurance, Insurance Carriers and Related Activities, Avis Budget Group Inc., American Bankers Insurance Group Inc., Article

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