Insurance does not exist to protect customer money should a firm decide to misuse assets.
It showed Webb reporting his last big story right before the CIA and drug trafficking -- about law enforcement misusing asset forfeiture laws to take millions of dollars from folks who in a number of cases aren't even charged with a crime.
His termination letter accused him of misusing corporate assets.
In another case announced in early August, the government reported that it is suing the fiduciaries of the 401(k) plan for employees of the Brown Schools a group of psychiatric hospitals and boarding schools based in Austin, Texas–for failure to forward employee contributions to the company's 401(k) plan and misusing those assets to pay the operating expenses of the school.
After 40 years in the auto industry, culminating at the helm of not one but three major carmakers, Carlos Ghosn's career came to a screeching halt on November 19, when he was arrested in Tokyo following an internal investigation at Nissan that alleged misconduct including understating his salary to evade taxes and misusing company assets for years.
The lawsuit, filed in federal court in Los Angeles on Monday, alleges that Charney engaged in "egregious" conduct by misusing corporate assets and violating the company's sexual harassment and anti-discrimination policies.
In a news conference at Nissan headquarters in Yokohama, Saikawa expressed disappointment, indignation and despair at Ghosn's conduct, which included using company funds for personal investments and misusing corporate assets.
The profound lack of transparency related to these risky so-called "alternative" investments provides investment managers ample opportunities to charge excessive fees, carry out transactions on behalf of the pension on unfavorable terms, misuse assets, or even steal them outright.
WPP, the world's largest advertising agency, is investigating claims that Sir Martin Sorrell, its chief executive, misused company assets.
