Manhattan Attorney Announces Proposed Bankruptcy Court

NY 2013 Community Banks / Credit Unions

DOJ Fraud

Penalty

$1 billion

Outcome

Manhattan U.S. Attorney Announces Proposed Bankruptcy Court Settlement With Ambac For Over $100 Million To Resolve Credit Default Swap Contract Dispute Lawsuits

Details

Manhattan Attorney Announces Proposed Bankruptcy Court — DOJ Enforcement (2013)

Outcome: Manhattan U.S. Attorney Announces Proposed Bankruptcy Court Settlement With Ambac For Over $100 Million To Resolve Credit Default Swap Contract Dispute Lawsuits

How Crucible Prevents This

Crucible's compliance monitoring for Community Banks / Credit Unions would have detected the patterns underlying this enforcement action.

Source: DOJ Press Release — Manhattan U.S. Attorney Announces Proposed Bankruptcy Court Settlement With Ambac For Over $100 Million To Resolve Credit Default Swap Contract Disput

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