Reported 11 days ago
The CEO of Jefferies, a leading investment bank, claims to have been 'defrauded' in the bankruptcy of First Brands Group, which is causing turmoil in global credit markets. As First Brands faces a crisis with over $2 billion missing and significant debts, CEO Rich Handler insists that his bank's exposure, initially believed to be much higher, is now manageable. The situation has drawn parallels to the Enron scandal, with short-seller Jim Chanos warning of potential widespread issues within the financial sector as investigations into the collapse unfold.
Source: YAHOO