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Crime Corporate Fraud

  • NEW YORK, April 26- JPMorgan Chase& Co is not liable to a group of former customers of Bernard Madoff who blamed the bank for being actively involved in his Ponzi scheme and ignoring red flags of fraud, a federal appeals court ruled on Wednesday. The 2nd U.S. Circuit Court of Appeals in Manhattan said the customers failed to show that JPMorgan had enough "control" over...

  • VIENNA PROSECUTORS ARE INVESTIGATING AIRBUS CEO THOMAS ENDERS FOR SUSPECTED FRAUD IN CONNECTION WITH 2003 EUROFIGHTER ORDER-SPOKESWOMAN FOR PROSECUTORS' OFFICE.

  • VIENNA, April 26- Vienna prosecutors are investigating Airbus Chief Executive Thomas Enders for suspected fraud in connection with a $2 billion Eurofighter jet order by Austria more than a decade ago, the prosecutors' office said. Correspondence reviewed by Reuters listed Enders as one of those accused in the investigation, and a spokeswoman for the Vienna...

  • Jonathan Ly, 28, was sentenced by U.S. District Judge John Coughenour in Seattle after pleading guilty in December to a securities fraud charge for having engaged in an insider trading scheme that prosecutors said netted him $331,000. He previously reached a $375,907 settlement with the U.S. Securities and Exchange Commission.

  • Jonathan Ly, 28, was sentenced by U.S. District Judge John Coughenour in Seattle after pleading guilty in December to a securities fraud charge for having engaged in an insider trading scheme that prosecutors said netted him $331,000. He previously reached a $375,907 settlement with the U.S. Securities and Exchange Commission.

  • April 24- The U.S. Supreme Court on Monday declined to hear an appeal by former WellCare Health Plans Inc Chief Executive Todd Farha of his 2013 fraud conviction for his role in a scheme to cheat the Medicaid health insurance program for the poor. Farha began serving a three-year sentence at a minimum security federal prison in Alabama after the Atlanta- based...

  • NEW YORK, April 19- An elected official of a New York City suburb faces trial on Wednesday in what authorities have called the first criminal securities fraud case involving municipal bonds. Christopher St. Lawrence, the elected supervisor of Ramapo, New York, has been charged with securities fraud, wire fraud and conspiracy. Lawrence in April 2016 along with...

  • April 14- HSBC Holdings Plc has agreed to pay about $2 million to settle a civil fraud lawsuit that alleged the bank improperly attempted to get reimbursement from the federally backed U.S. Small Business Administration on bad loans it knew were based on fraudulent or potentially fraudulent information. Under the SBAExpress loan program, designed to help...

  • WASHINGTON, April 14- Volkswagen AG said on Friday the company has bought back or repaired more than half of 475,000 polluting 2.0- liter diesel vehicles under a U.S. government settlement, just six months after it launched the largest-ever automotive repurchase offer. In March, VW pleaded guilty to fraud, obstruction of justice and falsifying statements as...

  • MEXICO CITY, April 13- The former chief executive of a Mexican oil services company arrested over a loan scandal that inflicted hefty losses on Citigroup Inc's local Banamex unit was released from prison on Thursday, an official in the city government said. Speaking on condition of anonymity, the official confirmed media reports that Amado Yanez, who was CEO of...

  • Tim Sloan, CEO of Wells Fargo.

    Wells Fargo CEO Tim Sloan speaks to CNBC about the investigation report into the company's fraudulent account scandal, and further compensation clawbacks.

  • Wells Fargo CEO: Focused on implementing changes and rebuilding trust

    Wells Fargo CEO Tim Sloan speaks to CNBC's Wilfred Frost about the investigation report into the company's fraudulent account scandal.

  • WASHINGTON, April 7- The owner of a New Jersey feedstock processor was sentenced to five years in prison for his role in a scheme that generated fraudulent tax and renewable fuel credits, the U.S. Department of Justice said on Friday. In addition to the prison term, Malek Jalal, owner of Unity Fuels, was ordered to pay more than $1 million in restitution in a scheme that...

  • NEW YORK, April 7- Credit bureau Experian Plc has joined forces with technology firm BioCatch to use behavioral biometrics to help its clients spot fraudsters applying for credit cards and other lending products online, the companies said on Friday. "Behavioral biometrics is one of the up and coming techniques for defending against fraud," said John Sarreal,...

  • LONDON, April 7- Lloyds Banking Group revealed a 100 million pound compensation scheme on Friday for victims of a fraud for which six people were jailed this year, as Britain's financial watchdog reopened a probe into the case. Britain's biggest mortgage lender has been under pressure to compensate the victims at its HBOS business, who say it reacted too slowly...

  • LONDON, April 7- Lloyds Banking Group apologised on Friday to victims of a high-profile fraud for which six people were jailed this year and said it had set up a 100 million pound compensation scheme. Britain's biggest mortgage lender has been under pressure to compensate the victims at its HBOS business, who say it reacted too slowly to their complaints, and will...

  • *Verdicts bring Libor acquittals in UK to eight. LONDON, April 6- Two former junior Barclays traders have been unanimously acquitted by a London jury of conspiring to rig Libor benchmark interest rates in a blow to the UK Serious Fraud Office. Ryan Reich, a 35- year-old American, and Greek national Stylianos Contogoulas, 45, walked free after their second trial on a...

  • LONDON, April 6- Two former Barclays traders were acquitted by a jury on Thursday of conspiring to rig benchmark interest rates. Ryan Reich, a 35- year-old American, and Greek national Stylianos Contogoulas, 45, walked free after their second trial on a charge of conspiracy to defraud. The Serious Fraud Office had alleged Reich and Contogoulas plotted with other...

  • LONDON, April 6- Two former Barclays traders were on Thursday acquitted by a jury of conspiring to rig crucial benchmark interest rates. Ryan Reich, a 35- year-old American, and Greek national Stylianos Contogoulas, 45, walked free after their second trial on a charge of conspiracy to defraud. The Serious Fraud Office had accused Reich and Contogoulas of...

  • NEW YORK, April 4- New York state's highest court on Tuesday rejected Facebook Inc's challenge to 381 search warrants to uncover suspected widespread Social Security disability fraud by its customers. By a 5-1 vote, the Court of Appeals said it lacked jurisdiction to hear Facebook's appeal over warrants obtained by the office of Manhattan District Attorney...