Southern California family fatally shot
Three family members near Downey, Calif. were shot dead and two others were injured on Wednesday around 11 a.m., reported United Press International.
Two of the victims were found at a United States Fire Protection Services, and another one at a residential house near Downey.
Police are still investigating on the suspect.
Bank of America sued
New York federal prosecutors sued Bank of America for $1 billion on Wednesday for mortgage fraud, reported The New York Times.
Bank of America, with Countrywide Financial, sent bad loans to government-controlled corporations Fannie May and Freddie Mac, causing foreclosed properties during the financial crisis.
Gupta sentenced to prison
Former Goldman Sachs Director and Procter & Gamble Director, Rajat Gupta, 63, was sentenced to two years in prison and fined $5 million for insider trading and securities fraud, reported The New York Times.
Gupta leaked information from the Goldman Sachs board meetings to hedge Fund Manager Raj Rajaratnam, who is currently serving his 11-year sentence.
Gupta also ran the consulting firm McKinsey & Company and was a philanthropy adviser to Bill Gates and President Clinton.
Murdock on rape comment
Republican candidate for Indiana Senate, Richard Murdock, apologized on Wednesday about his previous comments during Tuesday’s Senate debate which were interpreted as condoning rape and abortion, reported Reuters.
Presidential candidate Mitt Romney and his campaign continue to support Murdock despite the recent controversy.
Hurricane Sandy’s progress
Hurricane Sandy made landfall in Jamaica on Wednesday, killing at least one person and counting, reported The Boston Globe.
Hurricane Sandy may progress further with increased winds into Cuba and Florida.
Hurricane Sandy is the first hurricane since 1988’s Hurricane Gilbert to strike directly into Jamaica.
Top 5: News stories from around the world on Oct. 24
Daily Emerald
October 23, 2012
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