Crime Corporate Fraud

  • AMATRICE, Italy— Italian authorities are vowing to investigate whether negligence or fraud in adhering to building codes played a role in the high death toll in last week's earthquake in Italy. Over the past two days, they found six more bodies in the rubble of Hotel Roma in Amatrice, the medieval hill town in mountainous central Italy that bore the brunt of...

  • Aug 25- The son of a Russian lawmaker was convicted on Thursday on U.S. charges that he engaged in a scheme to hack into U.S. businesses in order to steal and sell credit card numbers, costing financial institutions more than $169 million. Roman Seleznev, also known as "Track2," was found guilty by a federal jury in Seattle on 38 of 40 counts including wire fraud and...

  • SEATTLE— The Latest on the case of a Russian man accused of hacking into U.S. businesses:. John Henry Browne said Thursday that one of the key issues in the appeal was the arrest of Roman Seleznev in the Maldives by U.S. A jury on Thursday convicted Roman Seleznev of 38 charges, including nine counts of hacking and 10 counts of wire fraud.

  • LOS ANGELES— A federal judge has thrown cold water on a lawsuit that claimed Starbucks defrauded customers by adding ice to its cold beverages. Alexander Forouzesh sued Starbucks Corp. in May for fraud, breach of warranty and false advertising, among other claims. "Any child can figure out that they're being deceived by Starbucks, as well," he said. "

  • NEW YORK, Aug 24- The former chief executive officer of Comverse Technology Inc pleaded guilty to securities fraud on Wednesday and was ordered detained a decade after fleeing the United States for Namibia to avoid prosecution. Jacob "Kobi" Alexander, the Woodbury, New York- based software developer's founder, entered the plea in federal court in Brooklyn, after...

  • NEW YORK, Aug 24- The former chief executive officer of Comverse Technology Inc pleaded guilty to securities fraud on Wednesday, a decade after fleeing the United States for Namibia to avoid prosecution. Jacob "Kobi" Alexander, the Woodbury, New York- based software developer's founder, entered his plea in federal court in Brooklyn, after ending his fight to avoid...

  • NEW YORK, Aug 24- The former chief executive officer of Comverse Technology Inc pleaded guilty on Wednesday to securities fraud, a decade after he fled to Namibia from the United States to avoid prosecution. Jacob "Kobi" Alexander, the Woodbury, New York- based software developer's founder, entered his plea in federal court in Brooklyn, after ending his fight to...

  • NEW YORK, Aug 24- The former chief executive officer of Comverse Technology Inc pleaded guilty on Wednesday to securities fraud, a decade after he fled to Namibia from the United States to avoid prosecution. Jacob "Kobi" Alexander, the Woodbury, New York- based software developer's founder, entered his plea in federal court in Brooklyn, after ending his fight to...

  • Kobi Alexander to pled guilty to one count of fraud

    CNBC's Scott Cohn reports former Comverse Technology chairman and CEO Kobi Alexander is coming back to the U.S. to face charges in a stock option scandal.

  • 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...