Barclays CEO Robert Diamond Resigns [WSJ]
The chief executive of Barclays, Robert Diamond, resigned Tuesday amid intense political and investor pressure from the British bank's involvement in rigging an important interest-rate benchmark—and another senior executive appeared close to following him out the door. The scandal is tearing through Barclays's top ranks. Two people close to the bank said Tuesday that Jerry del Missier, the chief operating officer, is likely to step down from his role. Monday, the bank said Chairman Marcus Agius would resign. Mr. Agius will remain chairman while Barclays searches for his replacement—and for a new chief executive, the bank said. Mr. Diamond will leave the bank immediately.
Ex-CFO of Philadelphia Archdiocese admits stealing $900,000 [Reuters]
The former chief financial officer of the embattled Roman Catholic Archdiocese of Philadelphia has pleaded guilty to stealing $906,000 from the church, the district attorney's office said on Monday. The archdiocese, facing a $17 million budget hole and still reeling from last month's conviction of a monsignor in a child sex abuse scandal, was the target of a forgery and theft scheme run by former financial officer Anita Guzzardi. The former CFO admitted on Friday that she stole the money from 2004 to 2011. Guzzardi, 43, was fired in July 2011.
Former NFL wide receiver Johnnie Morton Jr., who used to play for the Detroit Lions, the Kansas City Chiefs and the San Francisco 49ers, was sentenced Monday to two years’ probation for lying to a federal grand jury during an Internal Revenue Service criminal investigation. Morton, 40, of Redondo Beach, Calif., testified under oath before a federal grand jury in Santa Ana, Calif. on September 30, 2009. The grand jury was inquiring into possible violations of federal money laundering laws by a business associate of Morton’s, Neang Chhorvann. Chhorvann, 32, of Bishop, Calif., pleaded guilty to one count of money laundering, including a purchase of a Lamborghini Murcielago on March 29, 2011. Chhorvann was scheduled to be sentenced on August 8, 2011 but failed to appear.
How Delaware Thrives as a Corporate Tax Haven [NYT]
Big corporations, small-time businesses, rogues, scoundrels and worse — all have turned up at Delaware addresses in hopes of minimizing taxes, skirting regulations, plying friendly courts or, when needed, covering their tracks. Federal authorities worry that, in addition to the legitimate businesses flocking here, drug traffickers, embezzlers and money launderers are increasingly heading to Delaware, too. It’s easy to set up shell companies here, no questions asked.
Man Experiences Intense Pain While Watching Pornographic Videos, Study Says [HP]
A 24-year-old man in India experiences severe, "exploding" headaches when he watches pornographic videos, according to a study published in the June issue of Archives of Sexual Behavior. The subject of the study, an unmarried software professional whose name has not been released, has experienced these headaches for the past two years. His migraines would gradually increase in severity as the man watched X-rated videos, with the pain reaching peak intensity at about 8-10 minutes. At this point, he would tear himself away from the videos due to the pain.