Lehman Brothers Holdings Inc. was a global financial-services firm prior to its bankruptcy and sale in 2008. The firm did business in investment banking, equity and fixed-income sales, research and trading, investment management, private equity, and private banking. It was a primary dealer in the U.S. Treasury securities market. Its primary subsidiaries included Lehman Brothers Inc., Neuberger Berman Inc., Aurora Loan Services, Inc., SIB Mortgage Corporation, Lehman Brothers Bank, FSB, Eagle Energy Partners, and the Crossroads Group. The firm's worldwide headquarters were in New York City, with regional headquarters in London and Tokyo, as well as offices located throughout the world.
Lehman Brothers, the giant investment bank that last month filed the largest bankruptcy in history, is the subject of at least three federal criminal investigations that have subpoenaed a dozen top executives, according to a person familiar with the matter.
Richard S. Fuld Jr., the company's former chairman and chief executive, and Erin Callan, the former chief financial officer, are among the subpoenaed executives, according to the person, who spoke on condition of anonymity because of the sensitivity of the case.
The exact focus of the probes, conducted by U.S. attorneys in Manhattan, Brooklyn and New Jersey, is unclear. But the investigations, which are in the preliminary stage, are expected to be wide-ranging, the person said.
Richard S. Fuld Jr., the company's former chairman and chief executive, and Erin Callan, the former chief financial officer, are among the subpoenaed executives, according to the person, who spoke on condition of anonymity because of the sensitivity of the case.
The exact focus of the probes, conducted by U.S. attorneys in Manhattan, Brooklyn and New Jersey, is unclear. But the investigations, which are in the preliminary stage, are expected to be wide-ranging, the person said.
Spokesmen for the prosecutors and Lehman Brothers declined to comment; Callan and a lawyer for Fuld did not return phone calls.
Lehman Brothers is among the largest casualties of the global financial crisis and its Sept. 15 collapse had reverberations in markets around the world.
Lehman is one of at least 26 firms being examined by federal authorities investigating potential fraud and wrongdoing in connection with the worst financial crisis since the 1929 stock market crash.
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