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Crime Corporate Fraud

  • RIO DE JANEIRO/ SAO PAULO, March 17- Brazil's Federal Police on Friday launched massive raids and searches as part of a probe of unnamed food processors accused of bribing regulators to loosen oversight. In a statement, police said they were carrying out searches across six Brazilian states as part of a probe called "Operation Flesh Is Weak." The size and extent of...

  • Carrie Tolstedt

    Wells Fargo's board will likely take further action on the bank's former head of the community bank.

  • Robert Schulman, who worked at the time at Hunton& Williams in Washington, D.C., was convicted of securities fraud and conspiracy jurors in Brooklyn federal court after about 4-1/ 2 hours of deliberations. Schulman, of McLean, Virginia, was a partner at the law firm Arent Fox in Washington, D.C. at the time of his arrest last August, and was later put on leave.

  • PARIS, March 15- France's consumer fraud watchdog told prosecutors that Renault boss Carlos Ghosn should be held responsible for the carmaker's suspected diesel emissions cheating, a judicial source said on Wednesday. The comments were included in a dossier submitted last November by the finance ministry's DGCCRF anti-fraud body, the source said.

  • DETROIT/ WASHINGTON, March 10- Volkswagen AG pleaded guilty on Friday to fraud, obstruction of justice and falsifying statements as part of a $4.3 billion settlement reached with the U.S. Justice Department in January over the automaker's diesel emissions scandal. In total, VW has agreed to spend up to $25 billion in the United States to address claims from...

  • The Denver- based company was linked in November 2015 to a multistate E.coli outbreak, and the next month to a norovirus outbreak that sickened at least 80 Boston College students. Failla also rejected claims that founder and Chief Executive Steve Ells, former Co-Chief Executive Monty Moran and Chief Financial Officer John Hartung intended to commit fraud by...

  • NYT's Drucker on CAT: Appears investigation broader than tax issues

    Jesse Drucker, New York Times, discusses federal investigation into Caterpillar for alleged tax and accounting fraud. The "Fast Money Halftime Report" traders weigh in.

  • SAO PAULO, March 8- Brazilian federal police carried out search and arrest warrants on Wednesday to investigate the suspected bribery of witnesses in a corruption probe involving pension funds of state-controlled companies. Authorities said the operation targeted Mário Celso Lopes and his son Mário Celso Lincoln Lopes, partners at pulp company...

  • Internal Revenue Service (IRS) special agents enter the Caterpillar Inc. headquarters in Peoria, Illinois, U.S., on Thursday, March 2, 2017. Caterpillar shares headed for the steepest decline in eight months as the worlds biggest maker of machinery for mining and construction had its offices raided by law enforcement officials.

    A report commissioned by the government has accused heavy-equipment maker Caterpillar of carrying out tax fraud, the NYT reports.

  • March 7- A former suburban New York development corporation director pleaded guilty to defrauding investors on Tuesday, marking what prosecutors said was believed to be the first-ever conviction for federal securities fraud in connection with municipal bonds. Aaron Troodler, 42, former executive director of the Ramapo Local Development Corp in Ramapo,...

  • AUSTIN, Texas, March 2- A federal judge in Texas dismissed securities fraud charges on Thursday leveled against state Attorney General Ken Paxton, saying he did not act illegally in his dealing with a technology company U.S. regulators have accused of defrauding investors. Paxton is also facing state security fraud charges for his relationship with the Texas...

  • 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...