Irregular trades by execs at doomed subprime firm raise questions
(NEWSER) - Bosses at one of the country's biggest subprime lenders made some suspicious stock sales as the firm's mortgages soured, a Los Angeles Times investigation reveals. Records show that executives at now-bankrupt New Century Financial sold nearly $20 million in company shares shortly after setting up new trading plans, often within days of each other. Such behavior "raises a red flag" for prosecutors, one expert said. More»
