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Berkshire's NetJets avoids $500M IRS tax claim

The private jet-sharing company has defeated an IRS lawsuit attempting to recoup more than $500 million of unpaid taxes and penalties.
Source: Reuters
In new emails, Madoff defends his dead sons

Bernard Madoff is insisting he acted alone in his epic fraud, according to new emails from the convicted Ponzi scammer.
Source: CNBC.com | By: Scott Cohn
CNBC Program Schedule for the Week of February 9

CNBC Program Schedule for the Week of February 9
Source: CNBC.com
UK fraud office shuts probe into HP-Autonomy deal

Britain's Serious Fraud Office said it had closed its investigation into the ill-fated sale of British IT firm Autonomy to Hewlett-Packard in 2011.
Source: Reuters
After 15 convictions, Madoff prosecutions appear to be over

NEW YORK, Jan 14- After more than five years and 15 convictions, the U.S. government's criminal investigation of Bernard Madoff's colossal Ponzi scheme may finally be coming to an end. In court filings on Tuesday and Wednesday, prosecutors in New York asked judges to schedule sentencing dates for key witnesses who pleaded guilty and agreed to help investigators,...
Source: Reuters | By: Joseph Ax
Former SAC executive raises about $1 bln for new hedge fund - WSJ

Jan 14- A former top executive of Steven Cohen's SAC Capital Advisors LP is close to launching a roughly $1 billion hedge fund in March, the Wall Street Journal reported. Solomon "Sol" Kumin, who was SAC's chief operating officer until January last year, has raised about $1 billion for his Folger Hill Asset Management LLC, the Journal said, citing a person familiar...
Source: Reuters
UPDATE 3-JPMorgan profit hit by legal costs, drop in fixed-income revenue

*Fourth-qtr net income $1.19/ shr vs. average estimate $1.31. Jan 14- JPMorgan Chase& Co, the biggest U.S. bank by assets, reported a 6.6 percent drop in quarterly profit as legal costs exceeded $1 billion in the wake of government probes into alleged currency manipulation and fixed-income revenue fell. Revenue in JPMorgan's fixed-income business fell 23 percent...
Source: Reuters | By: Tanya Agrawal and David Henry
UPDATE 1-JPMorgan profit falls 6.6 pct as legal costs rise

Jan 14- JPMorgan Chase& Co, the biggest U.S. bank by assets, reported a 6.6 percent drop in quarterly profit as legal costs exceeded $1 billion in the wake of government probes into alleged wrongdoing and it set aside more to cover bad loans. JP Morgan's shares were down 1.2 percent in premarket trading on Wednesday. JPMorgan, the first big U.S. bank to report quarterly...
Source: Reuters
Boies, Schiller & Flexner Hires Team of Three Federal Prosecutors to Launch Global Investigations and White Collar Defense Practice

Attorneys Matthew L. Schwartz, Peter M. Skinner and John T. Zach from the U.S. Boies, Schiller& Flexner announced the addition of three former federal prosecutors Peter M. Skinner, Matthew L. Schwartz and John T. Zach as New York- based partners, launching a new Global Investigations and White Collar Defense practice area. Schwartz, Skinner, and Zach have led or co-led...
Source: Business Wire
UPDATE 1-Boies, Schiller hires U.S. prosecutors in Madoff cases

NEW YORK, Jan 12- Two federal prosecutors who have led several high-profile fraud cases, including the government's criminal investigation of Bernard Madoff, are leaving the U.S. Justice Department to join prominent law firm Boies, Schiller& Flexner, according to an announcement Reuters reviewed before its public release. Matthew Schwartz and John Zach, who...
Source: Reuters | By: Joseph Ax