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WEDNESDAY, NOVEMBER 25, 2009
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NEWS ABOUT: New Century Financial

New Century Financial stories: 2 news summaries

Execs Cashed Out as Subprime Giant Staggered

Irregular trades by execs at doomed subprime firm raise questions

Nov 26, 08 9:10 AM CST
(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... More »

MORE ABOUT:
Department of Justice • executive compensation • insider trading • subprime mortgages • stock options • New Century Financial • subprime lender

Bankrupt Lender's Audit Lapses 'Mind Boggling'

Bankrupt subprime lender, auditor ripped in report on business practices

Mar 27, 08 8:23 AM CDT
(Newser) - Auditors at now-bankrupt New Century Financial—once one of the nation’s largest subprime lenders and one of the earliest to fail—were accused of “mind boggling” lapses in a Justice Department report on the debacle released yesterday. Partners at accounting firm KPMG are said to have ignored... More »

MORE ABOUT:
Department of Justice • bankruptcy • credit crisis • Enron • subprime crisis • New Century Financial • subprime lender • KPMG • Arthur Anderson • accounting firm

2 Stories


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