Crime Corporate Fraud

More

  • NEW YORK/ PARIS, Feb 26- Vivendi SA will pay John Malone's Liberty Media Corp $775 million to settle a lawsuit accusing the French media company of hiding a liquidity crisis while negotiating to swap its stock for Liberty's stake in USA Networks Inc.. In June 2012, a federal jury in Manhattan had ordered Vivendi to pay Liberty 765 million euros of damages for breach...

  • Feb 22- The former chief executive of a Florida- based resort company was sentenced on Monday to 40 years in prison after being convicted for participating in what authorities said was a $300 million real estate Ponzi scheme. Fred Clark, the ex-chief executive of the now-defunct Cay Clubs Resorts and Marinas, was sentenced by U.S. Prosecutors said Cay Clubs...

  • John Rigas, the Adelphia founder convicted over a fraud that led to the company's collapse, was released from prison because he is dying of cancer.

  • MADRID/ BEIJING, Feb 20- Six staff at the Madrid branch of China's biggest bank Industrial and Commercial Bank of China who were detained this week in an investigation into alleged money laundering were ordered to jail by a Madrid court on Saturday. A legal source had earlier said the six faced charges of money laundering, fraud and tax crimes and that one of them...

  • NEW YORK, Feb 19- A federal judge on Friday ordered the release from prison of John Rigas, the Adelphia Communications Corp founder convicted over a fraud that led to the cable TV company's collapse, because he is dying of cancer. District Judge Kimba Wood in Manhattan reduced his sentence to time served. Rigas and another son, Timothy Rigas, Adelphia's former chief...

  • NEW YORK, Feb 19- John Rigas, the Adelphia Communications Corp founder who was convicted for participating in a fraud that led to the cable company's collapse, is dying of cancer and should be freed from prison, federal prosecutors said on Friday. In a motion filed in federal court in Manhattan, prosecutors said Rigas, 91, suffers from terminal Stage IV bladder...

  • NEW YORK, Feb 19- U.S. prosecutors said several witnesses in the criminal securities fraud case against notorious former pharmaceutical executive Martin Shkreli are concerned about retaliation and have received threats from him in the past. Among the reasons for putting the SEC case on hold, prosecutors said, was the "well-founded concern of witness...

  • Attorney Paul Fishman in New Jersey. District Judge Madeline Cox Arleo in Newark, New Jersey. Nine defendants have been criminally charged in Newark or in Brooklyn, New York by the U.S. Department of Justice.

  • NEW YORK, Feb 17- Victims of Bernard Madoff's fraud cannot pursue a Florida lawsuit to recover $11 billion from the estate of Jeffry Picower, who they say helped perpetuate the swindler's Ponzi scheme, a Manhattan bankruptcy judge ruled on Wednesday. Bankruptcy Judge Stuart Bernstein said the lawsuit by A&G Goldman Partnership and Pamela Goldman, their third...

  • NEW YORK, Feb 17- Victims of Bernard Madoff's fraud cannot pursue a Florida lawsuit to recover $11 billion from the estate of Jeffry Picower, who they say helped perpetuate the swindler's Ponzi scheme, a Manhattan bankruptcy judge ruled on Wednesday. Bankruptcy Judge Stuart Bernstein said the lawsuit by A&G Goldman Partnership and Pamela Goldman, their third...

  • Untangling complex tax laws: William Cobb

    William Cobb, President & CEO at H&R Block, shares his thoughts on the 2016 tax season and ways to simplify the tax code. Also Cobb weighs in on what his company is doing to fight tax fraud.

  • Herbert Sudfeld, 64, was convicted on charges of securities fraud and making a false statement by a federal jury in Philadelphia following a four-day trial, prosecutors said. The Doylestown, Pennsylvania- resident faces a maximum sentence of 25 years in prison, according to the U.S. Attorney's Office in Philadelphia. Sudfeld was indicted in July on charges that...

  • Dennis Hamilton, a former vice president of tax at Harman, was charged in a criminal complaint filed in New Haven, Connecticut, with securities fraud in connection with trades in the company's stock that prosecutors said netted him over $130,000. The U.S. Securities and Exchange Commission brought a related civil action over the non-public information that...

  • Dennis Hamilton, a vice president of tax at Harman, was charged in a criminal complaint filed in New Haven, Connecticut, with securities fraud in connection with trades in the company's stock that prosecutors said netted him over $130,000. The U.S. Securities and Exchange Commission filed a related civil lawsuit over the non-public information that the agency...

  • WASHINGTON, Feb 4- The U.S. House of Representatives passed legislation on Thursday that would curb a Justice Department initiative aimed at cutting off perpetrators of fraud from the banking system. The goal of the program, frequently called " Operation Choke Point," has been to hold banks accountable while sniffing out law breakers, according to the department.

  • Attorney Preet Bharara's office, was among a series of cases against banks following the financial crisis stemming from mortgages insured through a program by the Federal Housing Administration. Wells Fargo said the settlement was reached on Feb. 1 and would also resolve claims by the U.S. Attorney's Office in San Francisco and the U.S. Department of Housing...

  • NEW YORK, Feb 3- Retrophin Inc has agreed to pay $3 million to resolve a lawsuit by investors accusing the pharmaceutical company of failing to disclose transactions that benefited former Chief Executive Officer Martin Shkreli, who has since been indicted for securities fraud. The $3 million settlement equals 7 percent to 10 percent of the $26 million to $41...

  • NEW YORK, Feb 3- Former pharmaceutical executive Martin Shkreli suffered a roughly $40 million drop in the value of a trading account used to secure his bail following his arrest on securities fraud charges, a U.S. prosecutor said on Wednesday. That caused the value of Shkreli's E* Trade brokerage account to drop to $4 million to $5 million, from the $45 million...

  • NEW YORK, Feb 3- Retrophin Inc has agreed to pay $3 million to resolve a lawsuit by investors accusing the pharmaceutical company of failing to disclose various transactions that benefited former Chief Executive Officer Martin Shkreli, who has since been indicted for securities fraud. The $3 million settlement equals 7 percent to 10 percent of the $26 million...

  • NEW YORK, Feb 3- Retrophin Inc has agreed to pay $3 million to resolve a lawsuit by investors accusing the pharmaceutical company of failing to disclose various transactions that benefited former Chief Executive Officer Martin Shkreli, who has since been indicted for securities fraud. The $3 million settlement equals 7 percent to 10 percent of the $26 million...