Crime Corporate Fraud

More

  • JERUSALEM, July 4- Nochi Dankner, once one of Israel's most powerful tycoons who lost his business empire in the global economic downturn, faces up to five years in jail after a Tel Aviv court found him guilty on Monday of manipulating share prices. But in February 2012, after things had turned sour for his business empire, Dankner propped up the price of shares in his...

  • LONDON, July 4 Reuters)- Three former Barclays traders have been found guilty by a London jury of conspiring to fraudulently manipulate global benchmark interest rates in a stark warning to junior bankers and a major victory for Britain's Serious Fraud Office. Calcutta- born Jay Merchant, 45, the most senior of the men on trial, was convicted unanimously while...

  • LONDON, July 4 Reuters)- Three former Barclays traders have been found guilty by a London jury of conspiring to fraudulently manipulate global benchmark interest rates in a success for the UK's Serious Fraud Office (SFO). Calcutta- born Jay Merchant, 45, the most senior of the men on trial, was convicted unanimously while 35- year-old British former Libor...

  • The SEC, which confirmed the verdict on Friday, said the jury after several days of deliberation had been unable to reach unanimous verdicts on its fraud or lying to auditor claims. The SEC sued Goldstone, Simmons and former Thornburg chief accounting officer Jane Starrett in 2012, alleging they hid the company's fast-deteriorating financial condition at...

  • June 30- Bank of New York Mellon Corp has agreed to end eight years of litigation in which it sought unsuccessfully to recoup $312 million it lent a Chicago- area money manager that collapsed in 2007, and whose former chief is now in prison for fraud. According to a Wednesday court filing, Bank of New York Mellon will be treated as an unsecured creditor with a $312...

  • NEW YORK, June 28- Three movie financiers were arrested on Tuesday on charges they defrauded investors of $12 million that was provided to produce films and documentaries starring, among others, Harry Connick Jr and Willie Nelson. An indictment filed in Manhattan federal court accused James David Williams, Steven Brown and Gerald Seppala of conspiring to...

  • CHICAGO, June 28- A former Chicago Board Options Exchange director has been charged by U.S. regulators for misappropriating funds he solicited from relatives and colleagues for investment, court papers filed on Tuesday show. The Commodity Futures Trading Commission said Alvin Wilkinson fraudulently accepted at least $6.9 million from 30 people for...

  • NEW YORK, June 27- A New York energy investor pleaded guilty on Monday to charges that he engaged in a years-long scheme to avoid paying more than $45 million in income and other taxes stemming in part from his sale of an oil company. Zukerman& Co, pleaded guilty in Manhattan federal court to one count of tax evasion and one count of obstructing the Internal Revenue...

  • Lynn Tilton, CEO of Patriach Partners.

    The distressed investor tags in new lawyers, replacing a firm that worked on the SEC’s fraud case against her.

  • KHOBAR, Saudi Arabia, June 23- Embattled Saudi Arabian builder Mohammad Al Mojil Group will continue operating despite the resignation of its board after three people involved with the company were found guilty of fraud, its acting CEO said on Thursday. But CEO Nauman Sohail said the business outlook for the company is improving and the board resignations do...

  • DETROIT, June 22- The Michigan attorney general said on Wednesday his office has sued two engineering services companies for negligence and fraud for their involvement in the city of Flint's water crisis that exposed residents to dangerously high lead levels in drinking water. Attorney General Bill Schuette said at a news conference in Flint that the civil...

  • CAIRO/ ABU DHABI, June 22- Egypt has launched a government-led recount of its wheat silos after an unusually high procurement figure spurred widespread fraud allegations from top industry officials, traders and parliamentarians. Egypt said last week that in the latest procurement season it bought nearly 5 million tonnes of local wheat from its farmers, the...

  • Los Angeles- based Grandpoint, a commercial bank with operations in Southern California, Arizona and Southern Washington, said it is the first bank to market such policies. FBI data shows that criminals have sought to use such scams to steal more than $3 billion since June 2013. Grandpoint said the policy, which is underwritten by Hiscox Inc, a unit of Hiscox Ltd,...

  • NEW YORK, June 17- Former Countrywide Financial Corp CEO Angelo Mozilo and other executives will not face a U.S. Justice Department lawsuit for defrauding investors in mortgage-backed securities issued before the 2008 financial crisis, people familiar with the matter said on Friday. Mozilo, 77, and others were recently informed by the Justice Department...

  • NEW YORK, June 17- Former Countrywide Financial Corp CEO Angelo Mozilo and other executives will not face a U.S. Justice Department lawsuit for defrauding investors in mortgage-backed securities issued before the 2008 financial crisis, people familiar with the matter said on Friday. Mozilo, 77, and others were recently informed by the Justice Department...

  • June 16- A unit of HSBC Holdings Plc on Thursday said it will pay $1.575 billion to end a long-running securities fraud class action stemming from the acquisition of the Household International consumer finance business more than a decade ago.

  • WASHINGTON, June 16- The U.S. Supreme Court on Thursday imposed some limits on the kind of fraud claims that can be brought against federal contractors in a case involving a suit against one of America's largest hospital operators over a woman's death at one of its facilities. Roy Englert, King of Prussia, Pennsylvania- based Universal Health Services' lawyer, said...

  • WASHINGTON, June 16- The U.S. Supreme Court on Thursday imposed some limits on the kind of fraud claims that can be brought against federal contractors in a case involving a suit against hospital operator Universal Health Services Inc over a woman's death at one of its facilities. The company wanted the Supreme Court to disallow these kinds of lawsuits...

  • NEW YORK, June 14- Wall Street executive Andrew Caspersen will likely plead guilty next month to criminal charges over an alleged $150 million fraud scheme, after compulsive gambling drove him to make huge, failed bets against the U.S. stock market, his lawyer said on Tuesday. Caspersen, 39, a graduate of Princeton University and Harvard Law School and son of late...

  • The FBI disclosed the data as it launched a public awareness campaign providing tips on how to defend against such scams. U.S. and foreign victims reported 22,143 cases involving business email compromise cases in which cyber criminals sent requests for some $3.1 billion in fraudulent transfers from October 2013 through last month, according to the FBI.