July 30, 2010
July 30 (Bloomberg) — Jacob Ramsay, an analyst with Control Risks Group, talks with Bloomberg’s Susan Li about the outlook for the Indonesian economy and government. Indonesia’s benchmark stock index has risen 22 percent this year, the best performer among Asia’s 10 biggest markets, as record-low interest rates accelerated growth in Southeast Asia’s biggest economy and boosted earnings
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July 30, 2010
DALLAS — Famed Dallas billionaire investors Sam and Charles Wyly made $550 million in undisclosed profits through 13 years of insider trading in the shares of companies on whose boards they served, according to a Securities and Exchange Commission lawsuit filed Thursday. In a 78-page complaint filed in a Manhattan federal court in New York, the SEC said the Wylys held and traded tens of millions of securities in the companies and “defrauded the investing public” by misrepresenting the Wylys’ ownership and trading of those shares. “The apparatus of the fraud was an elaborate sham system of trusts and subsidiary companies located in the Isle of Man and the Cayman Islands … created by and at the direction of the Wylys,” the SEC complaint stated
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