SEC charges ICP over CDOs of ABS, reports Wall Street Journal

Monday, June 21, 2010

The SEC has brought charges against ICP and its founder Tom Priore, according to the Wall Street Journal

TAGS: Law suits

Comment by: Mike Peterson. Posted 13 years ago [2010-06-22 10:23:18]

A link to the complaint against ICP is now included above

Comment by: Anonymous. Posted 13 years ago [2010-06-22 01:58:18]

The WSJ article was not at all clear. Reading between the lines, my guess is that ICP is accused of selling from the warehouse to the CDO at inflated prices. It is customary NOT to take a trading gain or loss with a warehouse, so it would be eye-catching if ICP did retain a significant gain for itself.

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