Hedge fund leader charged after massive losses

Article Abstract:

Michael Berger of Manhattan Investment Fund pleaded not guilty in Manhattan federal court of defrauding investors of the hedge fund of more than $400 million. During his tenure as the fund's portfolio manager from 1996 to 1999, Berger allegedly bet against stocks such as Yahoo, Amazon and CMGI, only to see their share prices rise. He is also accused of falsifying financial statements and hiding losses from auditors and about 300 investors.

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Online auctions top list of Internet fraud

Article Abstract:

The FBI has identified online auctions as the primary source of fraud in the Internet followed by products ordered but not received. The FBI and the Dept of Justice's Internet Fraud Complaint Center expects to receive 1,000 consumer complaints daily in Nov 2000 once it is fully automated and linked to major Web portals such as America Online and Yahoo. The online industry alleges that fraud accounts for only a very small portion of online auctions.

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French vintages less likely to be poured into American glasses

Article Abstract:

The regulations governing the French wine industry have caused the industry to lose market share in the US. The wines of other countries and the marketing of US wines are also discussed.

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