Regulators raid Wachovia headquarters
Published July 17, 2008 by CSBJ Staff
The Associated Press
CHARLOTTE, N.C. – Securities regulators from several U.S. states have raided the St. Louis headquarters of Wachovia Securities, which is part of the Charlotte-based bank, Wachovia Corp.
The move, made today, is part of a broad investigation into questionable practices involving auction rate securities, Missouri officials said.
Calls to a Wachovia spokeswoman were not immediately returned.
Missouri Secretary of State Robin Carnahan’s office said the “special inspection” at the Wachovia division, the former A.G. Edwards, concerned the $330 billion auction rate securities meltdown.
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