Monday, December 20, 2010

Former president of Refco fraud fallen 3 days the market value of $ 1,000,000,000.

U.S. Attorney for New York news <P> Michael Jai West Oct. 12 announced that the nation's largest futures trader Refco, former president and CEO Philip Bennett, the British arrested the evening of 11 arrested for securities fraud .Affected by this, the day of Refco stock plummeted. .</ P> <P> day Refco shares closed at $ 10.85 per share, down 22%. .This is the third consecutive day of its decline from the previous Friday's closing price of 28.20 U.S. dollars slid 60%, have been lower than the original issue price, market capitalization loss of more than one billion U.S. dollars. .</ P> <P> Previously, Bennett was the U.S. Securities and Exchange Commission allegations of securities fraud under investigation, mainly the company's initial public offering to investors and Bennett and their accomplices hiding 430 million regulatory authorities .dollars in debt, this debt is lent Refco another by the Bennett-controlled company. .</ P> <P> 10, Refco announced that Bennett owed to the company 4.3 billion has been repaid. .</ P> <P> Bennett graduated from the University of Cambridge, 1981 Jiaru Rui Fu Company, in September 1998 has served as president and CEO. .In Jiaru Rui Fu Company, he worked in Chase Manhattan, New York, Toronto, Brussels and London branches of the credit card department for ten years. .</ P>.

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