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Monday, December 08, 2003
Another fraud indictment in the mutual fund scandal, this one involving market timing. This time it's Invesco, the parent of the AIM funds. The fund group and its CEO are being charged with felony fraud. The company gives its side here. Their statement basically sounds like "no controlling legal authority." It looks to me like the SEC took too much grief from the quick settlement of Putnam's misdeeds and is playing hardball now.
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