Putnam Fund Charged with Fraud State and federal civil fraud charges are filed against Putnam Investments, the nation's fifth-largest mutual fund company. Regulators say Putnam allowed senior fund managers to siphon money from funds they supervised. The suits also allege that the firm failed to prevent improper trading by some investors from a trade union. NPR's Chris Arnold reports.

Putnam Investments Charged with Fraud

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Putnam Investments Charged with Fraud

Business

Putnam Investments Charged with Fraud

October 28, 200312:00 AM ET

Heard on All Things Considered

Chris Arnold

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Putnam Investments Charged with Fraud

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Embed <iframe src="https://www.npr.org/player/embed/1482377/1482378" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">

State and federal civil fraud charges are filed against Putnam Investments, the nation's fifth-largest mutual fund company. Regulators say Putnam allowed senior fund managers to siphon money from funds they supervised. The suits also allege that the firm failed to prevent improper trading by some investors from a trade union. NPR's Chris Arnold reports.