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Last updated on April 18, 2014 at 21:21 EDT

Latest Andrew Cuomo Stories

2009-04-06 12:06:54

New York Attorney General Andrew Cuomo has filed suit against a financier for allegedly failing to properly protect $2.4 billion funneled to Bernard Madoff. Filed under state charity and security statutes, Cuomo claimed that J. Ezra Merkin defrauded investors by falsely claiming he actively managed their funds, which were, instead, summarily turned over to Madoff, The New York Times reported Monday. In March, Madoff pleaded guilty to 11 felony counts involving a Ponzi scheme that reportedly...

2009-03-26 19:26:21

New York Attorney General Andrew Cuomo says he will look into whether American International Group Inc. improperly used U.S. funds to make some investors whole. Cuomo, who is already investigating AIG payment of retention awards to executives in its financial products group, said Thursday he plans to subpoena the troubled insurance giant to get information about its credit-default swaps, The Wall Street Journal reported. CDS contracts were at the heart of AIG's meltdown, Cuomo said in a...

2009-03-05 14:05:32

Bank of America filed papers in a New York state court to block the state's probe into compensation that Attorney General Andrew Cuomo calls excessive. The bank contends that the data on compensation is confidential. The attorney general's office, in turn, has issued subpoenas to three former Merrill Lynch personnel who received bonus checks in excess of $10 million each, The Wall Street Journal reported Thursday. Before collapsing into the arms of Bank of America, Merrill Lynch paid...

2009-02-23 19:05:53

New York Attorney General Andrew Cuomo Monday asked a court to require former Merrill Lynch & Co. executive John Thain to testify about executive bonuses. Cuomo filed a motion seeking the testimony after Thain refused during a deposition last week to disclose information on bonuses paid to individual Merrill Lynch employees in 2008, the Financial Times reported Monday. I don't want to have him sued by the company for their saying he's violating someone's privacy, Thain's attorney, Andrew...

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2009-02-20 07:10:00

New York state officials served Bank of America Chief Executive Officer Ken Lewis with a subpoena to probe into the bank's bonus pay policy. Bank of America purchased Merrill Lynch late last year and both banks have received billions in taxpayer assistance to weather the financial crisis. But New York Attorney General Andrew Cuomo has claimed the firms secretly handed out $3.6 billion in bonus pay to Merrill Lynch employees, CNN reported Friday. The top four bonus checks totaled $121 million....

2009-02-04 16:32:00

SCHENECTADY, N.Y., Feb. 4 /PRNewswire/ -- Attorney General Andrew Cuomo and MVP Health Care today announced an agreement that supports his plan to establish a new not-for-profit organization to gather, maintain, and analyze provider reimbursement data for use by health insurers who choose to pay out of network providers using usual, customary and reasonable fees. The agreement with Attorney General Cuomo is the first involving an upstate New York based health insurer. The company issued...

2008-10-23 15:00:17

NEW YORK, Oct. 23 /PRNewswire-USNewswire/ -- Environmental Defense Fund praised New York Attorney General Andrew Cuomo's announcement today that he has reached a second binding and enforceable agreement with a major national energy company, Dynegy, requiring disclosure of financial risks that climate change poses to its investors. Cuomo and former Vice President Al Gore discussed the agreement and the importance of this industry-wide precedent, both in terms of corporate transparency and...

2008-09-19 06:00:13

By Kevin McCoy Efforts to stop suspected illegal short selling of stocks intensified Thursday as a top state law enforcer announced an investigation and the nation's three largest public pension funds said they would stop lending some financial stocks to short sellers. New York Attorney General Andrew Cuomo said his office is investigating "a significant number" of complaints about improper short selling in shares of Lehman Bros., AIG, Morgan Stanley, Goldman Sachs and other financial...

2008-09-09 21:00:08

By Peter Simon The cost of college loans is steep enough without tacking on unnecessary -- and even deceptive -- interest charges, State Attorney General Andrew M. Cuomo told students Monday at West Seneca East High School. He urged students and their parents to pay close attention to the terms of student loans and find the best deal. "We are committed to equipping college-bound students with the knowledge they need to navigate through the confusing financial-aid process and avoid...

2008-08-24 12:00:17

By Eric Dash Three major investment banks - Merrill Lynch, Goldman Sachs and Deutsche Bank - will soon buy back at least $12.5 billion in auction- rate securities and pay $162.5 million in fines as part of separate settlements reached with New York state regulators. The deals, reached Thursday, are the latest to emerge from state and federal investigations that have entangled about 30 Wall Street companies, from global banks to discount and regional brokerage firms. Investors were told...