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Crime Corporate Fraud

  • CORPUS CHRISTI, Texas— An ex-leader of a failed project to build a South Texas power plant must serve two years in prison after prosecutors say he embezzled $1.5 million from the company. Former Chase Power Development CEO John David Upchurch of Spring was sentenced Thursday by a federal judge in Houston. Prosecutors say Upchurch, who was hired in 2008,...

  • MILAN, June 21- Italian tax police seized documents from the offices of five lenders on Wednesday in an investigation over alleged fraud in relation to the distribution of diamonds to bank customers, three sources with knowledge of the case said. The police took documents and computer files from Intesa Sanpaolo, UniCredit, Monte dei Paschi di Siena, Banco BPM and...

  • MILAN, June 21- Italian tax police seized documents from the offices of five Italian lenders on Wednesday in an investigation over alleged fraud in relation to the distribution of diamonds to bank clients, sources said. The police took documents and computer files from Intesa Sanpaolo, UniCredit, Monte dei Paschi di Siena, Banco BPM and Popolare di Bari, the...

  • LONDON, June 21- British Prime Minister Theresa May on Wednesday left plans to abolish the Serious Fraud Office out of her government's two-year programme in an omission lawyers said could signal an end to the controversial pledge. May's Conservative party pledged in policy proposals before a June 8 election to fold the SFO, which prosecutes high-level fraud...

  • TEL AVIV, June 21- Israel's markets regulator said on Wednesday that it suspected the chairman of Bezeq Israel Telecom of fraud after it opened an investigation into the country's largest telecom group. The Israel Securities Authority raided the company's offices on Tuesday as part of an investigation into Chairman Shaul Elovitch and other executives over...

  • ST. LOUIS— Missouri Attorney General Josh Hawley on Wednesday filed suit against three large pharmaceutical companies, saying their "campaign of fraud and deception" led to a startling opioid crisis in the state. Hawley, a Republican, filed suit St. Louis Circuit Court, naming Endo Pharmaceuticals, Purdue Pharma, and Janssen Pharmaceuticals.

  • BOSTON— The CEO of a Boston ride-hailing company geared toward women is facing charges he defrauded the U.S. Virgin Islands' government of more than $2 million. The Boston Globe reports 43- year-old Syed Zain Gilani was arrested last week at Safr's Boston headquarters and will face charges July 7 in the Virgin Islands. Information from: The Boston Globe,...

  • LONDON, June 20- Criminal charges over Barclays' fundraising in the 2008 financial crisis add to the bank's legal battles in key markets just as rivals are leaving their troubles from that period behind. Barclays is facing 21 regulatory investigations and civil actions mainly in the United States and Britain, its 2016 annual report showed.

  • LONDON, June 20- Britain's Serious Fraud Office has defied critics who accuse it of failing to pursue top executives by criminally charging Barclays and four former senior managers, a month after the government pledged to abolish the crime-fighting agency. Prime Minister Theresa May's ruling Conservatives pledged in the election manifesto to fold the...

  • *Bank made $3.0 billion loan to Qatar during fund raising. Britain's Serious Fraud Office charged Barclays Plc, former chief executive John Varley, Roger Jenkins, Tom Kalaris and Richard Boath with conspiracy to commit fraud and unlawful financial assistance in its first criminal prosecution of a bank and senior managers over events during the credit crisis.

  • LONDON— British regulators charged Barclays bank and four former executives, including then-CEO John Varley, with conspiracy to commit fraud when they asked Qatar for a cash infusion to avoid a government bailout at the height of the financial crisis in 2008.. The probe centered on two side agreements under which Barclays paid the Qatari investors 322...

  • June 19- Former drug company executive Martin Shkreli should reveal more about his finances if he wants his $5 million bail cut to $2 million, a Brooklyn federal judge said Monday, a week before Shkreli is set to face trial on securities fraud charges. Lawyers for Shkreli, who drew public outrage after raising the price of a life-saving drug 5,000 percent when he...

  • But Tommy Tipton, a Fayette County magistrate, told the FBI that his actions were innocent, if odd: He won the Colorado lottery but couldn't tell his wife because gambling was against their Christian faith. The FBI accepted the story and dropped its inquiry of Tipton, who soon bought a new truck and more property around the town of Flatonia, 110 miles west of Houston.

  • TORONTO— Ontario's securities watchdog says former Broadway theater mogul Garth Drabinsky has been permanently banned from becoming a director or officer of a publicly traded company in Canada's largest province. He and business partner Myron Gottlieb served several years in prison for fraud that resulted in the demise of now-defunct Livent Inc. The...

  • LONDON, June 16- Britain's Serious Fraud Office is to announce on Tuesday whether it will bring criminal charges against Barclays and some of its former senior executives over a 2008 emergency fundraising from Qatar, according to a person familiar with the plans. Qatar Holding, part of the Qatar Investment Authority sovereign wealth fund, and Challenger, an...

  • June 14- A former portfolio manager at Visium Asset Management LP was sentenced to 18 months in prison on Wednesday following his conviction on securities fraud charges stemming from an investigation that led the New York- based hedge fund to close last year. District Judge Jed Rakoff in Manhattan federal court, according to federal prosecutors.

  • June 14- A former portfolio manager at Visium Asset Management LP was sentenced to 18 months in prison on Wednesday following his conviction on securities fraud charges stemming from an investigation that led the New York- based hedge fund to close last year. District Judge Jed Rakoff in Manhattan federal court, according to federal prosecutors.

  • NEW YORK, June 14- Wall Street financier Benjamin Wey persuaded a federal judge to suppress all evidence seized in U.S. government searches of his home and offices, in a setback for prosecutors who charged him with fraud over Chinese "reverse mergers." District Judge Alison Nathan said "blanket suppression" was necessary because "sweeping" January 2012 searches of...

  • Christopher Wray

    Trump's pick for FBI director, Christopher Wray, led the Enron Task Force and represented Chris Christie during Bridgegate.

  • Edward Pennings, a former senior managing director in State Street's London office, has agreed to plead guilty to one court of conspiring to commit wire fraud and securities fraud, according to a plea agreement filed in federal court in Boston. In addition, Richard Boomgaardt, who was head of State Street's transition management desk for Europe, the Middle East...