Fox Business Network: Former Lehman Exec Says SEC Charges Coming Around September 15

Former Lehman Brothers executive Larry McDonald tells Fox Business Network’s (FBN) Charlie Gasparino the SEC is interviewing all the top Lehman executives and “the question is who they go after” and predicts that the charges will be filed in conjunction with “the two year anniversary of this crime of the century, which was September 15, 2008.” On what people inside Lehman Brothers are saying about the investigation: “When I wrote my book, there were 20 or 30 key insiders that helped me write the book and I have been reaching out to them in recent weeks and it’s very clear to me that the amount of SEC investigation, conferences, interviews, has gone up at least 500% over the last couple of months. I have been hearing in recent days that something is coming to a head in the next five to seven days.” On why these charges are expected to be filed so soon: “This bankruptcy is ten times the size of Enron. We lost three and a half to four million jobs in the US. This bankruptcy devastated so many investors watching us right now, the SEC is under pressure from the Obama administration to get something done here. The SEC is under pressure because the CEO of IKB bank in Germany is now going to jail. So it makes the US look bad when overseas they are taking action and the bottom line is she did host these conference calls and investors out there are not happy and felt deceived.” On when he expects the charges to be filed: “The two year anniversary of this crime of the century, which was September 15, 2008, is coming up and the SEC if you notice has been doing things around big dates. I think they are really going to swing the bat at this ball.” On who he expects to be charged: “Our CFO Erin Callan, who is kind of a victim here because it was her first three months on the job, but she was on the line, our former CFOs Chris O’Mara, and Ian Lowitt. So it’s that crew and then you could see people like former President Joseph Gregory. They are interviewing all of these people, the question is who do they go after.” On whether former CEO Dick Fuld will face charges: “I’m hearing they are kind of using other people to get to him. He could be the big prize. They are interviewing many people. That’s why the legal bills are exploding.”