Invesco CEO Raymond Cunningham got numerous warnings on the dangers and fallout from market timing but permitted it willingly, New York Attorney General Eliot Spitzer said yesterday, as he and the SEC filed fraud charges against both the firm and Cunningham.

The case presents "excruciating detail" on how the firm allowed 60 broker/dealers, hedge funds and investment advisers to move in and out of some of its funds, which the firm has countered, it "contained" by limiting the market timing to only a few funds.

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