Reported 2 days ago
Jefferies CEO Rich Handler stated that the bank was defrauded by the bankrupt auto parts maker First Brands Group during an investor day event. This revelation coincides with a broader investigation into the company by the U.S. Department of Justice and allegations of fraud by several financial firms. Despite the challenges posed by First Brands' bankruptcy and the impact on Wall Street's credit market, Handler insisted that the overall environment remains positive.
Source: YAHOO