DOJ Eyes Criminal Claims In ARS Market Probe

Law360, New York (October 2, 2008, 12:00 AM EDT) -- The U.S. Department of Justice has now turned to investigating criminal allegations as part of ongoing probes into the collapse of the auction rate securities market.

The probes are among the first addressing the possibility that individuals committed crimes as the multi-billion dollar ARS market went bust. Over the past few months, federal and state regulators have secured a series of settlements of civil claims stemming from investigations into the ARS market.

Lehman Brothers Holdings Inc. is reportedly one target of federal prosecutors in Brooklyn who...
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