Controversial ‘business development company’ Allied Capital Corp (NYSEARCA:ALD
) appears to have escaped from the U.S. Securities and Exchange Commission’s investigation with the most feathery of wrist-taps, as the company’s unprincipled accounting practices go unfined, and sanctioned merely by the imposition of processes that an honest business of its type would already have in place.
Long a regular feature in Herb Greenberg’s MarketWatch column, Allied recently conceded that it had, in 2003, hired a private investigator who illegally obtained Greenlight Capital (NASDAQ:GLRE) principal David Einhorn’s personal phone records.
Another entry for ‘The Crooks Are Winning’ file.
In the matter of Allied Capital Corp
US Securities and Exchange Commission
Jun. 20 2007