The Morning Wrap

Convicted: Joseph Collins, a former Mayer Brown partner, on Friday was convicted of helping top executives of financial services firm Refco Inc. hide a $2.4 billion fraud from investors and purchasers, the New York Law Journal reports. Judge Loretta Preska of the U.S. District Court for the Southern District of New York found the lawyer guilty of conspiracy, two counts of securities fraud, two counts of false filings with the U.S. Securities and Exchange Commission and two counts of wire fraud.

Stabbing: An 18-year-old resident of Olney, Md., was fatally stabbed on Saturday inside the Woodley Park Metro station, The Washington Post reports. "The attack appeared to be one of the most violent to occur inside the Metro system in many years," according to the newspaper.

Hostess: Baked goods company Flowers Foods Inc. and private equity firm C. Dean Metropoulos & Co., owner of Pabst Brewing Co., may bid on the assets of Hostess Brands Inc., the bankrupt baker of Twinkies and Wonder bread, Bloomberg reports. Hostess announced on Friday that it would fire more than 18,000 employees and cease operations.

Patraeus: The way the FBI handled the probe that has led to the unraveling or scarring of the careers of ex-CIA Director David Petraeus and Marine General John Allen is the exception, not the rule, The Associated Press reports. The FBI typically doesn't pursue cyberstalking cases without compelling evidence of serious or imminent harm to an individual, computer crime victims and experts said.

Sandy: The New York Times has released an interactive map that tracks Hurricane Sandy's death toll. Officials have attributed more than 100 deaths to the storm.

Comments

[Ashley Casas]

Once again, I am late in reading the Morning Wrap. Heard of the news but still, news of Hostess' bankruptcy and the loss of Twinkies still makes me a little bit sad.