ECONOMY

REPORT: CONSUMER CONFIDENCE SOARS IN JANUARY

Americans grew more optimistic about the job market in January, sending a widely followed measure of consumer confidence to its highest level in three and a half years. The report yesterday from the Conference Board showed, however, that consumers are still uneasy about the future.

The private research group said its consumer confidence index rose to 106.3, the highest level since June 2002, when the reading was also 106.3. The latest measure was up from a revised 103.8 in December, and continued a rebound that began in November following the Gulf Coast hurricanes. Analysts had expected a reading of 105.0 in January.

– Associated Press

IN THE COURTROOM

BANK OF CHINA MANAGERS CHARGED WITH $485 MILLION FRAUD IN VEGAS

Two Bank of China managers, their wives, and a relative, were charged in a federal court in Las Vegas yesterday with money laundering, racketeering, and visa fraud in a scheme that federal prosecutors said cost the bank more than $485 million.

The indictment alleges that, in 2001, $2 million from the fraud ended up in a personal account at the Rio Hotel and Casino in Las Vegas. Some in the group entered into sham marriages with what prosecutors called “fake” wives.

The investigation involved close coordination with Chinese law enforcement officials. At least one defendant has left America voluntarily to face punishment in China.

– Staff Reporter of the Sun