Crime Corporate Fraud

  • Jonathan Ly, 28, entered his plea in federal court in Seattle to one count of securities fraud stemming from an insider trading scheme that prosecutors said netted the San Francisco resident $331,000. He also reached a $375,907 settlement with the U.S. Securities and Exchange Commission. Ly is deeply sorry for the activity he engaged in and the people and...

  • Jonathan Ly, 28, entered his plea in federal court in Seattle to one count of securities fraud stemming from an insider trading scheme that prosecutors said netted the San Francisco resident $331,000. As part of a plea deal, Ly agreed to repay Expedia the $81,592 it spent investigating the computer intrusion. He also reached a $375,907 settlement with the U.S....

  • SEATTLE— A former information technology worker at Expedia Inc. pleaded guilty Monday to securities fraud after authorities said he used his access to the computers of top executives to rummage through their email, then made lucrative, illegal stock trades based on the inside information he discovered. He has agreed to pay the Securities and Exchange...

  • Irfan Amanat, 45, was charged in a complaint filed in Manhattan federal court with conspiracy, securities fraud and wire fraud stemming from a scam prosecutors said he engaged in with his brother. Irfan Amanat, who a decade ago was the subject of a U.S. Securities and Exchange Commission case related to his time as chief technology officer of Tradescape Corp, was...

  • ALEXANDRIA, Va.— A political donor and cable news commentator pleaded guilty Friday to federal criminal charges in what prosecutors described as a $30 million investment fraud scheme tied to his health-technology company. Sreedhar Potarazu, 51, an ophthalmogist from Potomac, Maryland, was appointed to serve on the credentials committee to this year's...

  • WASHINGTON, Nov 30- A federal judge has entered an order of default judgment of $21.8 million against Alvin Wilkinson of San Juan, Puerto Rico, and two Connecticut- based companies owned by him in connection with a commodity pool fraud that victimized 30 investors, the U.S. Commodity Futures Trading Commission said on Wednesday.

  • Theranos slams big investors

    Christopher Weaver, Wall Street Journal reporter, discusses Theranos' "smart money" investors, as well as the company's recent challenges.

  • Investors sue Theranos & firm's founder for fraud

    Thernos is being sued for alleged fraud by Robert Colman, Robertson Stephens co-founder. CNBC's Sue Herera reports.

  • ALBANY, N.Y.— A corporate accountant in New York admitted Monday to stealing at least $3.1 million from agribusiness giant Cargill, Inc., and causing $25 million in losses to the privately held company's grain shipping operations at the Port of Albany. Diane Backis, of Athens, New York, pleaded guilty Monday in federal court in Albany to mail fraud and filing a false...

  • WASHINGTON, Nov 28- The U.S. Supreme Court on Monday rejected Texas financier Robert Allen Stanford's bid to overturn his conviction and 110- year prison sentence for running what prosecutors called a $7.2 billion Ponzi scheme that bilked investors in 113 countries. The justices left in place the imprisoned Stanford's appeal of an October 2015 ruling by the...

  • NEW YORK, Nov 22- A former top aide to New York Governor Andrew Cuomo is among eight men who have been indicted in a bribery and fraud case tied to efforts to spur the upstate economy, federal prosecutors said on Tuesday. Joseph Percoco, a former executive deputy secretary to Cuomo, was indicted by a federal grand jury on two counts each of bribery solicitation,...

  • The 1st U.S. Circuit Court of Appeals in Boston said a lower court judge erred in dismissing federal and Massachusetts state securities fraud claims against the second-largest U.S. bank. The $330 billion auction-rate market seized up in February 2008 when dealers stopped supporting it, saddling investors with illiquid debt that had often been marketed as a...

  • NEW YORK, Nov 21- The U.S. Securities and Exchange Commission on Monday took a former Standard& Poor's executive to trial over claims that she engaged in a fraud that inflated ratings of commercial mortgage-backed securities. At the start of an administrative trial in Manhattan, SEC lawyer Stephen McKenna said Barbara Duka, the former head of S&P's commercial...

  • *Australia pressed by OECD to get tough on corruption in 2012. MELBOURNE, Nov 18- Facing international pressure to get tougher on corruption, Australian authorities say they are targeting the resources industry but have yet to be formally asked to look into a high-profile probe into payments at miner Rio Tinto. Australia has beefed up its resources in tackling...

  • President-elect Donald Trump will try at a court hearing on Friday to delay a civil trial involving allegations from students that they were defrauded by the now-defunct Trump University. Trump owned 92 percent of Trump University and had control over all major decisions, the students' court papers said. District Judge Gonzalo Curiel in San Diego has urged...

  • NEW YORK, Nov 17- A former president of now-bankrupt Kit Digital Inc has pleaded guilty to fraud, and is cooperating with a U.S. probe into what prosecutors have called a scheme to deceive investors about the video technology company's health, court papers show. Gavin Campion, an Australian and UK national who lives in Australia, admitted to securities fraud and...

  • CHICAGO, Nov 17- West Virginia's environmental regulator sued Alpha Natural Resources Inc's former management on allegations of fraud on Wednesday, saying top executives should be held accountable for an unusual $100 million funding gap that has emerged just three months after the U.S. coal producer exited bankruptcy. Alpha said in a Nov. 3 court filing it had...

  • NEW YORK/ BOSTON, Nov 17- New York's top law enforcement official said he does not want U.S. President-elect Donald Trump's administration to "eviscerate" the state's anti-fraud law that has dropped a hammer on Wall Street corruption. Schneiderman said he was deeply troubled by recent media that the transition team was considering ways to gut New York's Martin...

  • Rep. Cummings comments on charges against ex-execs

    Rep. Elijah Cummings (D-MD) comments on charges against Valeant and Philidor ex-executives, CNBC's Meg Tirrell reports. CNBC's Mike Santoli and Stephanie Link, TIAA Global Asset Management, weigh in.

  • NEW YORK/ BOSTON, Nov 17- New York's top law enforcement official said he does not want U.S. President-elect Donald Trump's administration to "eviscerate" the state's anti-fraud law that has dropped a hammer on Wall Street corruption. Schneiderman said he was deeply troubled by recent media that the transition team was considering ways to gut New York's Martin...