Crime Corporate Fraud

  • NEW YORK— A fugitive former technology company CEO who frustrated federal authorities by living comfortably in exile in southwest Africa for the past 10 years has agreed to return to the United States to face charges he hatched a scheme to pocket millions of dollars by secretly manipulating stock options and is expected to plead guilty, prosecutors revealed...

  • BARYSHIVKA, Ukraine, Aug 23- The goal was to make Ukraine more friendly for investors by reducing red tape. The fraud outbreak shows how steps taken by Ukraine's pro-Western government to open the country up to investment can instead backfire, providing more opportunities for criminals. Something was wrong when an accountant for Ukrainian real estate...

  • NEW YORK, Aug 22- A U.S. appeals court refused on Monday to reconsider its decision to overturn a $1.27 billion penalty against Bank of America Corp and a jury verdict finding it liable for mortgage fraud leading up to the 2008 financial crisis. The 2nd U.S. Circuit Court of Appeals in New York rejected a petition by Manhattan U.S. Marc Mukasey, a lawyer for Rebecca...

  • NEW YORK, Aug 22- A U.S. appeals court on Monday refused to reconsider its decision to overturn a $1.27 billion penalty against Bank of America Corp and a jury verdict finding it liable for mortgage fraud leading up to the 2008 financial crisis. The 2nd U.S. Circuit Court of Appeals in New York rejected a petition by Manhattan U.S. Attorney Preet Bharara's office to...

  • NEW YORK, Aug 22- Ending a decade on the run, the former chief executive officer of Comverse Technology Inc who fled to Africa to avoid a fraud prosecution over a stock options scandal is returning to the United States to plead guilty. Jacob "Kobi" Alexander, 64, will admit to one count of backdating stock options in the federal court in Brooklyn on Wednesday, his...

  • NEW YORK, Aug 22- Ending a decade on the run, the former chief executive officer of Comverse Technology Inc who fled to Africa to avoid prosecution in a stock options scandal is returning to the United States to plead guilty in a fraud case. Jacob "Kobi" Alexander, 64, will enter a guilty plea in federal court in Brooklyn on Wednesday to one count of backdating stock...

  • Kobi Alexander to return to US

    Alexander will plead guilty to one account, reports CNBC's Scott Cohn, with breaking news on the last remaining criminal case from the dot-com era.

  • The ruling overturns a 2013 decision by SEC Chief Administrative Judge Brenda Murray, who found Feldman liable and ordered him to pay $4.7 million in penalties. Feldman was an optionsXpress Inc customer when he was charged by the SEC in 2012 for a so-called "naked short-selling" scheme. The SEC had accused Feldman of trading billions of dollars in options and...

  • Valeant's U.S.-listed shares reversed course to close down 3.4 percent at $37.19 on Thursday. They had risen as much as 5 percent, after the company's lenders agreed to an amendment to loosen covenants on its $31 billion of debt. T. Rowe Price, which held a 6.4 percent passive stake in Valeant as of Dec. 31, filed the lawsuit in the District Court of New Jersey on Monday.

  • Valeant's U.S.-listed shares reversed course to trade down 4 percent at $28.80 on Thursday. The lawsuit comes a week after the Wall Street Journal reported that lawyers at the U.S. T. Rowe Price, which held a 6.4 percent passive stake in Valeant as of Dec. 31, filed the lawsuit in the District Court of New Jersey on Monday.

  • WASHINGTON, Aug 17- German auto supplier Robert Bosch GmbH was a "knowing and active participant" in a decade-long scheme by Volkswagen AG to evade U.S. emissions laws, according to lawyers for U.S. owners of polluting VW diesel vehicles. In a court filing late on Tuesday in U.S. District Court in San Francisco, the lawyers cited confidential documents turned over by...

  • WASHINGTON, Aug 17- German auto supplier Robert Bosch GmbH was a "knowing and active participant" in a decade-long scheme by Volkswagen AG to evade U.S. emissions laws, according to lawyers for U.S. owners of polluting VW diesel vehicles. In a court filing late on Tuesday in U.S. District Court in San Francisco, the lawyers cited confidential documents turned over by...

  • Winick, who pleaded guilty last year to conspiring to commit wire fraud during a related scheme, was also ordered to pay $2.43 million in restitution and forfeit $5 million, according to the office of Brooklyn U.S. Winick, 58, was arrested in Thailand by country officials who were working with the U.S. Federal Bureau of Investigation in August 2013 on charges that...

  • Sean Stewart, former managing director of Perella Weinberg Partners LP, right, enters federal court in New York, U.S., on Tuesday, Aug. 9, 2016.

    A former Wall Street investment banker was convicted on Wednesday for engaging in insider trading by tipping his father off.

  • Edward Pennings, a former State Street senior managing director who worked in the bank's London office, entered the plea in federal court in Boston on Monday to charges including securities fraud and wire fraud, prosecutors said. Pennings, a Dutch citizen who resides in the United Kingdom, was released on a $2 million bond, according to a spokeswoman for the U.S....

  • Federal prosecutors say Nita Patel received a 6 ½- year sentence Tuesday, while Kirtish Patel was sentenced to more than eight years. The Rockaway couple pleaded guilty in November to health care fraud related to their Parsippany, New Jersey- based companies, Biosound Medical Services and Heart Solution PC. They also forged doctors' signatures on the reports...

  • Edward Pennings, a former State Street senior managing director who worked in the bank's London office, entered the plea in federal court in Boston on Monday to charges including securities fraud and wire fraud, prosecutors said. Pennings, a Dutch citizen who resides in the United Kingdom, was released on a $2 million bond, according to a spokeswoman for the U.S....

  • Edward Pennings, a former State Street senior managing director who worked in the bank's London office, pleaded not guilty in federal court in Boston on Monday to charges including securities fraud and wire fraud, prosecutors said. Pennings, a Dutch citizen who resides in the United Kingdom, was released on a $2 million bond, according to a spokeswoman for the U.S....

  • Edward Pennings, a former State Street senior managing director who worked in the bank's London office, pleaded not guilty in federal court in Boston on Monday to charges including securities fraud and wire fraud, prosecutors said. Pennings, a Dutch citizen who resides in the United Kingdom, was released on a $2 million bond, according to a spokeswoman for the U.S....

  • SEATTLE— When federal agents arrested a Russian man in the Maldives in 2014, they found 1.7 million stolen credit card numbers on his laptop computer, a federal prosecutor told the jury during opening statements. Attorney Seth Wilkinson said of Roman Seleznev. Seleznev's trial in U.S. District Court is expected to run more than two weeks.