TruemorsMassachusetts regulators filed civil fraud charges Thursday against UBS Financial Services for allegedly selling investments it knew were extremely risky, but portrayed as safe.
The complaint by the Massachusetts Securities Division alleges that the financial services arm of the Swiss bank UBS AG knowingly let brokers present its auction-rate securities as virtually risk-free so it could reduce its own stake in the failing program.
Mass. regulators file fraud charges against UBS
uploaded by renovatio June 27, 2008 at 02:16 am
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Title: Mass. regulators file fraud charges against UBS
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Created: Fri, 06/27/2008 - 2:16am
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