Crime Corporate Fraud

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  • NEW YORK, April 26- An Estonian man who authorities said ran a cyber criminal enterprise that infected more than four million computers worldwide with malware to carry out a lucrative click fraud scheme was sentenced by a U.S. judge on Tuesday to 7-1/ 4 years in prison. District Judge Lewis Kaplan in Manhattan after pleading guilty in July to charges that he...

  • FRANKFURT, Germany— Deutsche Bank co-CEO Juergen Fitschen has been acquitted of attempted fraud charges related to the bank's long-running battle with the heirs of a now-deceased media mogul. Prosecutors said they had tried to deceive an appeals court in an attempt to shield Deutsche Bank from damages. Breuer said that "everything you can read and hear" is that...

  • NEW YORK, April 22- Diagnostics company Alere Inc has been hit with a securities fraud lawsuit accusing it of artificially inflating its share prices ahead of the Feb. 1 announcement of its proposed $5.8 billion acquisition by Abbott Laboratories Inc.. The shareholder lawsuit, filed on Thursday in federal court in Boston, accused Alere of misleading investors...

  • WASHINGTON, April 19- The U.S. Supreme Court on Tuesday struggled with the question of when federal contractors can be sued for defrauding the government in a case involving a 19- year-old Massachusetts woman who suffered a fatal 2009 seizure at a mental health facility. Their lawsuit said King of Prussia, Pennsylvania- based Universal Health Services, one of...

  • NEW YORK/ WASHINGTON, April 14- An unidentified American company was defrauded last year out of nearly $100 million by individuals who created a fake email address in order to pose as one of its legitimate vendors, U.S. authorities said on Thursday. The details of the scheme came as the U.S. government filed a civil forfeiture lawsuit in federal court in Manhattan...

  • HOUSTON, April 14- Houston sued Internet banking company BofI Holding Inc. for securities fraud on Thursday, prompting its shares to sink on allegations it relied on unlawful lending practices and off- balance-sheet entities to boost profits. The suit filed by the Houston Municipal Employees Pension System in U.S. District Court Southern District of...

  • NEW YORK, April 14- A top official of a New York City suburb was charged on Thursday with defrauding investors who helped finance a controversial minor league baseball stadium, in what authorities called the first criminal securities fraud prosecution involving municipal bonds. Christopher St. Lawrence, the elected supervisor of Ramapo, New York, was charged...

  • Lagarde: I welcome Treasury move on inversions

    CNBC's Sara Eisen speaks with IMF Managing Director Christine Lagarde about her views on the U.S. tax regime as well as global monetary policy.

  • NEW YORK, April 14- Two Ramapo, New York, officials have been indicted in what the federal government believes is the first criminal securities fraud prosecution involving municipal bonds. A 22- count indictment unveiled on Thursday charges Christopher St. Lawrence, the town supervisor, and N. Aaron Troodler, former executive director of the non-profit Ramapo...

  • NEW YORK, April 13- A former analyst at a New York investment fund was arrested on Wednesday on charges that he made approximately $1.5 million trading on inside information about Apollo Global Management's nearly $7 billion deal for security company ADT Corp.. John Afriyie, the ex-analyst, was charged with one count of securities fraud in a criminal complaint...

  • April 13- U.S. prosecutors charged two executives at Florida- based Elm Tree Investment Advisors LLC with bilking investors out of millions of dollars through a fraudulent technology investment scheme, and accused one of spending some of the money on luxuries for himself. Elm Tree founder Fred Elm, 46, was arrested on Wednesday at his home in Hollywood, Florida,...

  • New York, April 13- A lawyer for Andrew Caspersen, a former partner at a unit of investment bank PJT Partners Inc charged with trying to steal $95 million from investors, said on Wednesday that a deal with federal prosecutors is expected within 60 days. Shechtman, who is representing Caspersen in both cases, said he also expects to settle with SEC after the criminal...

  • April 12- The U.S. Securities and Exchange Commission on Tuesday sued former ConvergEx Group executive Khaled "Kal" Bassily, accusing him of running a fraudulent scheme to regularly charge hidden mark-ups on customers' securities trades, on top of agreed-upon commissions. In a complaint filed in federal court in Manhattan, the SEC said the scheme led to millions...

  • April 11- U.S. regulators charged Texas Attorney General Ken Paxton on Monday for his alleged role in a stock scam that defrauded investors in a Texas- based technology company called Servergy Inc.. The SEC's civil case followed a related criminal case against Paxton for securities fraud. Last year, a Texas state grand jury indicted Paxton on two fraud charges...

  • LONDON, April 7- A former trader at Barclays, one of five on trial on charges of conspiracy to manipulate financial benchmark interest rates, alleged that top bosses at the bank approved and condoned the practice, a London court heard on Thursday. Britain's Serious Fraud Office, the agency in charge of prosecuting complex financial crime, has charged Barclays'...

  • Ross McLellan, a former State Street executive vice president, was arrested on charges including securities fraud and wire fraud, prosecutors said. The indictment also charged Edward Pennings, a former senior managing director at State Street who is believed to be living overseas and was not arrested, prosecutors said. The case followed a 2014 settlement...

  • April 5- U.S. prosecutors announced charges on Tuesday against two former State Street Corp executives for engaging in a scheme to defraud six clients through secret commissions applied to billions of dollars of trades. Ross McLellan, a former exectuvie vice president at State Street, was arrested on charges including securities fraud and wire fraud...

  • 'Panama papers' leak reveals network of offshore shell companies

    CNBC's Eamon Javers reports a massive leak of documents has revealed the offshore holdings of dozens of politicians and public figures around the world.

  • 'Panama papers' exposes world leaders

    CNBC's Eamon Javers reports on an anonymous leak of more than 11 million documents from a Panama-based law firm.

  • 'Panama 'Papers leak shows money rings of leaders

    An anonymous leak of more than 11 million documents implicates government heads, and others in setting up "shell" companies to harbor billions of dollars.