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Crime Corporate Fraud

  • March 1- A federal judge in Houston has thrown out a lawsuit accusing UBS Group AG of hiding fraud by its client Enron Corp from retail customers, a decision that may end a 15- year legal battle stemming from the energy company's December 2001 bankruptcy. District Judge Melinda Harmon said UBS PaineWebber brokerage customers failed to show that the Swiss bank...

  • March 1- A federal judge in Houston has thrown out a lawsuit accusing UBS Group AG of hiding fraud by its client Enron Corp from retail customers, a decision that may end a 15- year legal battle stemming from the energy company's December 2001 bankruptcy. District Judge Melinda Harmon said UBS PaineWebber brokerage customers failed to show that the Swiss bank...

  • NEW YORK, Feb 27- A trader who touted the stock of ForceField Energy Inc on television while being paid kickbacks to endorse the LED lighting provider pleaded guilty on Monday to a conspiracy charge, related to a fraud that cost investors $131 million, federal prosecutors said. Herschel Knippa, the owner and head trader at Kenai Capital Management LLC in Dallas,...

  • DETROIT, Feb 27- Japan's Takata Corp on Monday pleaded guilty to a felony charge as part of an expected $1 billion deal with the U.S. Justice Department that includes compensation funds for automakers and victims of its faulty airbag inflators. Lawyers for U.S. vehicle owners have sued Honda Motor Co, Nissan Motor Co, BMW AG, Ford Motor Co, Mazda Motor Corp, and other...

  • DETROIT, Feb 27- Japan's Takata Corp on Monday pleaded guilty to a felony charge as part of an expected $1 billion deal with the U.S. Justice Department that includes compensation funds for automakers and victims of its faulty airbag inflators. After Takata's guilty plea, a federal judge in Detroit was hearing objections on Monday to the settlement raised by...

  • NEW YORK, Feb 24- Criminal charges against top executives of Platinum Partners for running the $1.4 billion hedge fund firm like a Ponzi scheme have revived an old question for investors: Where was the board? Donald Seymour and David Bree of Cayman-based DMS Governance Ltd were directors for Platinums troubled Value Arbitrage Fund. Spokesmen for the SEC and...

  • NEW YORK, Feb 24- Criminal charges against top executives of Platinum Partners for running the $1.4 billion hedge fund firm like a Ponzi scheme have revived an old question for investors: Where was the board? Donald Seymour and David Bree of Cayman-based DMS Governance Ltd were directors for Platinums troubled Value Arbitrage Fund. Spokesmen for the SEC and...

  • VIENNA, Feb 24- Austria said on Friday that Vienna prosecutors had initiated a formal criminal investigation against Airbus and the Eurofighter consortium over alleged fraud, widening the potential fallout from a $2 billion combat jet order more than a decade ago. Defense Minister Hans Peter Doskozil said he had been notified that the two companies had been...

  • NEW YORK, Feb 23- The former chief executive officer of Comverse Technology Inc, who returned to the United States last year after spending a decade in Namibia to avoid prosecution, was sentenced to 2-1/ 2 years in prison on Thursday for engaging in securities fraud. Jacob "Kobi" Alexander, the Woodbury, New York- based software developer's founder, was sentenced by...

  • NEW YORK, Feb 23- A former Valeant Pharmaceuticals International Inc executive and the former chief executive of mail order pharmacy Philidor Rx Services pleaded not guilty on Thursday to charges they orchestrated a multi-million dollar fraud and kickback scheme. Federal prosecutors accused Gary Tanner, who was a senior director at Canadian drugmaker...

  • NEW YORK, Feb 23- L3 Technologies Inc said on Thursday it reached a $34.5 million settlement of a lawsuit by shareholders who accused the defense contractor of accounting fraud in its aerospace systems business. Shareholders led by two Michigan pension plans accused L3 of hiding improprieties, including those raised by an internal management-level...

  • NEW YORK, Feb 23- The former chief executive officer of Comverse Technology Inc, who returned to the United States last year after spending a decade in Namibia to avoid prosecution, is scheduled to be sentenced on Thursday for engaging in securities fraud. Jacob "Kobi" Alexander, the Woodbury, New York- based software developer's founder, is expected to be sentenced...

  • South Korean treasurer went missing on Feb. 7. ZURICH, Feb 22- Swiss engineering group ABB on Wednesday said it fell victim to a "sophisticated criminal scheme" at its South Korean subsidiary, with the chief suspect an executive responsible for ethics training. The executive, named by a source in South Korea as Oh Myeong-se, was treasurer and one of two integrity...

  • Swiss engineering group ABB fell victim to a "sophisticated criminal scheme" at its South Korean subsidiary.

  • District Judge Kevin Castel in Manhattan to forfeit $19.04 million, after pleading guilty last summer to securities fraud and conspiracy charges. Both sentencings came after Jason Galanis, a former Los Angeles investment banker once dubbed "Porn's New King," was sentenced to 135 months in prison by Castel on Wednesday. David Touger, a lawyer for John Galanis,...

  • *Austria accuses Airbus of wilful deception, fraud. *Austria sees potential damages of up to 1.1 bln euros. VIENNA, Feb 16- Austria sued Airbus and the Eurofighter consortium on Thursday, alleging wilful deception and fraud linked to a near 2 billion euro jet order in 2003..

  • *Austria accuses Airbus of wilful deception, fraud. VIENNA, Feb 16- Austria filed a lawsuit on Thursday against Airbus and the Eurofighter consortium, alleging wilful deception and fraud linked to a 2 billion euro order for Eurofighter jets in 2003, the defence ministry said. The ministry said that following an investigation it believed Airbus and Eurofighter...

  • Feb 15- U.S. prosecutors have subpoenaed one of the women who claims she was sexually harassed by former Fox News chairman Roger Ailes, and compelled her to testify before a federal grand jury, her lawyer said on Wednesday. New York City lawyer Judd Burstein said his client had received the subpoena on Monday from the securities fraud unit of the U.S.

  • Feb 15- U.S. prosecutors have subpoenaed one of the women who claims she was sexually harassed by former Fox News chairman Roger Ailes, and compelled her to testify before a federal grand jury, her lawyer said on Wednesday. New York City lawyer Judd Burstein said his client had received the subpoena on Monday from the securities fraud unit of the U.S.

  • Feb 15- A former Los Angeles investment banker was sentenced to more than 11 years in prison by a federal judge on Wednesday for his role in a stock manipulation scheme, resolving one of two criminal cases facing the man once dubbed "Porn's New King." Jason Galanis, 46, admitted last year to securities fraud, investment adviser fraud and two conspiracy charges in...