Crime Corporate Fraud

  • Tilton, the founder of private equity firm Patriarch Partners, told an SEC administrative law judge in Manhattan that investors were routinely provided information allowing them to know what steps she was taking with regard to those companies. The SEC has accused Tilton of defrauding investors in the three collateralized loan obligation funds by...

  • Jail for Wall Street CEOs?

    Christy Romero, SIGTARP, discusses her proposal to Congress to prevent big Wall Street CEOs from committing corporate fraud.

  • NEW YORK, Nov 1- A Mexico- based businessman has been arrested in the United States on charges that he and five others engaged in a scheme to fraudulently obtain tax refunds from the Mexican government and launder over $100 million. Carlos Djemal, who according to court papers acquired Mexican-based InvestaBank SA in 2014, was arrested in Chicago and charged in a...

  • Oct 31- U.S. prosecutors are focusing on Valeant Pharmaceuticals International Inc's former chief executive and chief financial officer as they build a fraud case against the drugmaker, Bloomberg reported. U.S. authorities are looking into potential accounting fraud charges related to Valeant's hidden ties to Philidor Rx Services LLC, a specialty...

  • Oct 31- U.S. prosecutors are focusing on Valeant Pharmaceuticals International Inc's former chief executive and chief financial officer as they build a fraud case against the drugmaker, Bloomberg reported. Valeant's U.S.-listed shares tumbled 5.5 percent to $19.23. Earlier this year Laval, Quebec- based Valeant replaced its long-time CEO Michael Pearson...

  • Oct 27- A Florida man pleaded guilty on Thursday to charges stemming from his role in wide-ranging hacking scheme that generated $1.3 million through the hijacking of customer email accounts to send unsolicited "spam" messages, prosecutors said. Timothy Livingston, 31, entered his plea in federal court in Newark, New Jersey to three counts including...

  • NEW YORK, Oct 25- A former investment adviser at an Oppenheimer Holdings Inc unit pleaded guilty on Tuesday to charges that he engaged in an insider trading scheme based on information supplied by a childhood friend working at Pfizer Inc.. David Hobson, 48, entered his plea in Manhattan federal court to conspiracy and securities fraud charges over conduct that...

  • David Hobson, 47, will plead guilty in Manhattan federal court to conspiracy and securities fraud charges over conduct prosecutors said began while he was at Royal Bank of Canada unit RBC Capital Markets and then continued at Oppenheimer& Co Inc, Michael Bowers, his lawyer, said in an email. Hobson, a Providence, Rhode Island, resident, would be the second...

  • *SFO head David Green gives evidence to UK lawmakers. LONDON, Oct 25- The UK Serious Fraud Office expects to agree some "significant" corporate plea deals over the coming months and is also considering filing more charges in the Libor benchmark rate rigging investigation, its head said on Tuesday. SFO director David Green told a parliamentary committee of...

  • At the start of a trial in Manhattan, Randy Mastro, Tilton's lawyer, told an administrative law judge that the founder of New York- based Patriarch Partners did not defraud investors, who were instead well aware of her investment strategy. He urged SEC Administrative Law Judge Carol Fox Foelak to force Tilton, 57, and Patriarch Partners to pay at least $200 million...

  • Oct 24- Life Care Centers of America Inc and its owner Forrest Preston agreed to pay $145 million to resolve federal lawsuits accusing one of the largest privately held U.S. nursing home chains of Medicare fraud, the U.S. Department of Justice said on Monday. As part of the settlement resolving claims under the federal False Claims Act, Life Care also entered a...

  • JOHANNESBURG, Oct 24- At least 80 heads of top South African firms including Anglo American, Barclays Africa Group and Naspers want fraud charges against Finance Minister Pravin Gordhan to be dropped. The top executives of mostly-listed firms in Africa's most industrialised country- ranging from mining, media, retail and banking- said in a newspaper...

  • JOHANNESBURG, Oct 24- At least 80 heads of top South African firms including Anglo American, Barclays Africa Group and Naspers want fraud charges against Finance Minister Pravin Gordhan to be dropped. Analysts and supporters of Gordhan, whose first court appearance is scheduled for Nov. 2, argue that the charges could be a ploy by President Jacob Zuma allies to...

  • JOHANNESBURG, Oct 24- At least 80 heads of top South African firms including Anglo American, Barclays Africa Group and Naspers want fraud charges against Finance Minister Pravin Gordhan to be dropped. Analysts and supporters of Gordhan, whose first court appearance is scheduled for Nov. 2, argue that the charges could be a ploy by President Jacob Zuma allies to...

  • JOHANNESBURG, Oct 24- At least 80 heads of top South African firms including Anglo American, Barclays Africa Group and Naspers want fraud charges against Finance Minister Pravin Gordhan to be dropped. Analysts and supporters of Gordhan, whose first court appearance is scheduled for Nov. 2, argue that the charges could be a ploy by President Jacob Zuma allies to...

  • JOHANNESBURG, Oct 24- At least 80 heads of top South African firms including Anglo American, Barclays Africa Group and Naspers want fraud charges against Finance Minister Pravin Gordhan to be dropped. Analysts and supporters of Gordhan, whose first court appearance is scheduled for Nov. 2, argue that the charges could be a ploy by President Jacob Zuma allies to...

  • California AG probing Wells Fargo for identity theft -LA Times

    According the LA Times, California Attorney General Kamala Harris is investigating Wells Fargo on allegations of identity theft. CNBC's Seema Mody reports.

  • Under the settlement, both men agreed to "suspensions to settle charges that they disregarded significant red flags during the audits and reviews," the SEC said. The SEC found that Ernst& Young classified Weatherford audits as high-risk but repeatedly failed to detect the company's fraud until it had continued for more than four years. The Ernst& Young audit team...

  • The SEC also reached deals with Joaquin Alberto Dos Santos Almeida, an ex-vice president of operations; Karan Raina, an ex-director of operations; Julianne Chandler, a former corporate controller; and James Smith, an ex-executive vice president. According to the SEC, while working in Lime's utilities division, Almeida and Raina began recognizing millions of...

  • Martin Shkreli trial set for June

    CNBC's Meg Tirrell reports the latest details surrounding Martin Shkreli and his appearance back in court today facing fraud charges.