America bankers admit bribery accused and senior officials of their children in China are closely related
Source: China Economic Net
China Economic Net, April 26 (Zhang the United States and the United States) Reuters reported that Morgan Stanley (Morgan Stanley, the former head of China, Peterson, Garth Peterson, also known as real estate fund of Morgan Stanley) Thursday pleaded guilty to conspiracy internal control requirements to evade U.S. anti-corruption law. Peterson also admitted the allegations of violation of the securities
regulatory requirements and agree to a total of nearly $ 3.7 million in penalties and a permanent ban on industry. The report said Peterson, through covert means to reap millions of dollars in benefits for themselves and a Chinese official, foreign lied to the brokerage fees charged by the Department of Morgan Stanley. U.S. Securities and Exchange Commission (SEC) officials said, Peterson is in violation of the anti-corruption laws prohibit bribery of foreign governments. Peterson, 42-year-old American currently living in Singapore. U.S. Securities and Exchange Commission and the Justice Department on Peterson jointly filed the charges, the case is scheduled for sentencing on July 17, will face five years in prison. Morgan Stanley in this case has not been charged, the company has been actively cooperate with regulatory authorities to investigate. Burke Bernhard (Matt, Burkhard), Morgan Stanley spokesman said the very pleased problem has been resolved. Peterson's attorney declined to comment on the matter. An insiders familiar with Peterson, said Peterson as early as in 2000, joined Morgan Stanley Real Estate Investment Fund, is mainly responsible for market operations. Living in China for many years, Peterson grasp of the market's strong, Morgan Stanley early intervention in the beginning of the start of the Shanghai property market will be lucrative. Peterson married the wife of the Chinese people living in Beijing for a long time, he not only can speak a standard Chinese can fluent Shanghai dialect, in addition he also very well versed in the ways of the world in China. The Reuters report said Peterson in China has a very wide range of contacts of social networks, and his close relationship with the children of some senior officials in Beijing and Shanghai. In addition, the former chairman of the Peterson Wing Yip Group (Yongye Enterprise (Group) Co) have a good personal friendship, the U.S. Securities and Exchange Commission alleged that these relationships played an important role in the Morgan Stanley real estate market in Shanghai has made great success . U.S. Securities and Exchange Commission said Peterson has agreed to waive $ 250,000 in illegal income, and agreed to be turned over to the gain of $ 3.4 million in the Shanghai real estate investments.
Source: China Economic Net
China Economic Net, April 26 (Zhang the United States and the United States) Reuters reported that Morgan Stanley (Morgan Stanley, the former head of China, Peterson, Garth Peterson, also known as real estate fund of Morgan Stanley) Thursday pleaded guilty to conspiracy internal control requirements to evade U.S. anti-corruption law. Peterson also admitted the allegations of violation of the securities
regulatory requirements and agree to a total of nearly $ 3.7 million in penalties and a permanent ban on industry. The report said Peterson, through covert means to reap millions of dollars in benefits for themselves and a Chinese official, foreign lied to the brokerage fees charged by the Department of Morgan Stanley. U.S. Securities and Exchange Commission (SEC) officials said, Peterson is in violation of the anti-corruption laws prohibit bribery of foreign governments. Peterson, 42-year-old American currently living in Singapore. U.S. Securities and Exchange Commission and the Justice Department on Peterson jointly filed the charges, the case is scheduled for sentencing on July 17, will face five years in prison. Morgan Stanley in this case has not been charged, the company has been actively cooperate with regulatory authorities to investigate. Burke Bernhard (Matt, Burkhard), Morgan Stanley spokesman said the very pleased problem has been resolved. Peterson's attorney declined to comment on the matter. An insiders familiar with Peterson, said Peterson as early as in 2000, joined Morgan Stanley Real Estate Investment Fund, is mainly responsible for market operations. Living in China for many years, Peterson grasp of the market's strong, Morgan Stanley early intervention in the beginning of the start of the Shanghai property market will be lucrative. Peterson married the wife of the Chinese people living in Beijing for a long time, he not only can speak a standard Chinese can fluent Shanghai dialect, in addition he also very well versed in the ways of the world in China. The Reuters report said Peterson in China has a very wide range of contacts of social networks, and his close relationship with the children of some senior officials in Beijing and Shanghai. In addition, the former chairman of the Peterson Wing Yip Group (Yongye Enterprise (Group) Co) have a good personal friendship, the U.S. Securities and Exchange Commission alleged that these relationships played an important role in the Morgan Stanley real estate market in Shanghai has made great success . U.S. Securities and Exchange Commission said Peterson has agreed to waive $ 250,000 in illegal income, and agreed to be turned over to the gain of $ 3.4 million in the Shanghai real estate investments.
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