Crime Corporate Fraud

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  • SAN FRANCISCO, June 7- Uber must hand over documents to a New York judge probing whether private investigators hired by the ride-hailing company fraudulently sought information about its opponents in an antitrust case, according to a court ruling on Tuesday. District Judge Jed Rakoff is seeking to determine whether Uber instructed an investigator to lie in...

  • NEW YORK, June 7- A ruling by New York's highest court in a fraud case against former American International Group Inc Chief Executive Maurice "Hank" Greenberg could affect the state's case against Republican presidential candidate Donald Trump and his defunct Trump University. The ruling means that Schneiderman can go after $5 million he says Trump...

  • June 2- Two men pleaded guilty in New Jersey on Thursday to playing roles in a wide-ranging hacking and spamming scheme that targeted personal information of 60 million people, including Comcast Corp customers, prosecutors said. Tomasz Chmielarz, 33, pleaded guilty in federal court in Newark, New Jersey, to charges of conspiracy to commit fraud and related...

  • Charles C. Liu and Xin "Lisa" Wang, both of Laguna Niguel, California, promoted the facility as a project that would help the Chinese investors obtain permanent U.S. immigration visas through a federal program known as EB-5, the SEC said. Liu also diverted another $7 million to personal accounts for him and Wang, the SEC said. No construction has started at the proposed...

  • June 2- Two men pleaded guilty in New Jersey on Thursday to playing roles in a wide-ranging hacking and spamming scheme that targeted personal information of 60 million people including Comcast customers, prosecutors said. Tomasz Chmielarz, 33, pleaded guilty in federal court in Newark, New Jersey, to charges of conspiracy to commit fraud and related activity...

  • Charles C. Liu and Xin "Lisa" Wang, both of Laguna Niguel, California, promoted the facility as a project that would help the Chinese investors obtain permanent U.S. immigration visas through a federal program known as EB-5, the SEC said. Liu also diverted another $7 million to personal accounts for him and Wang, the SEC said. In addition, no construction has started at...

  • NEW YORK, June 2- Former American International Group CEO Maurice "Hank" Greenberg must stand trial over alleged sham transactions, New York's top court ruled on Thursday, as the long-time financial industry titan failed in his 11- year-old quest to escape civil fraud charges. The New York Court of Appeals also ruled that the state could seek to recoup from...

  • NEW YORK, June 2- Former American International Group chief executive Maurice "Hank" Greenberg must face a fraud trial over transactions at the insurer, New York's highest court ruled on Thursday. The decision by the state's Court of Appeals is the latest victory for the New York attorney general's office, which has been pursuing the case for 11 years.

  • But unlike the Justice Department or the Securities and Exchange Commission, the Department of Health and Human Services inspector general does not prohibit companies from hiring firms with whom they have existing business ties. "If the goal of this whole thing is to have an energetic and independent reviewer ferreting out mistakes and potential fraud...

  • Iftikar Ahmed, a former general partner at Oak Investment Partners, was named in a seven-count indictment filed in federal court in Boston charging him with having engaged in wire fraud and having made false statements on income tax returns. The indictment follows a civil lawsuit last year by the U.S. Securities and Exchange Commission over the same alleged...

  • Tilton, known as the "Diva of Distressed" for turning around troubled companies, and other defendants in SEC civil cases have said federal courts should halt such proceedings. They have argued that the appointment of SEC administrative law judges, and hurdles that can make it impossible for the president to remove those judges, are unconstitutional.

  • The 2-1 decision by the 2nd U.S. Circuit Court of Appeals in New York is a victory for the SEC and its practice of pursuing more fraud cases through in-house administrative proceedings rather than in federal court, and allows the regulator to resume its case against Tilton. Known as the "Diva of Distressed" for turning around troubled companies, Tilton was accused...

  • NEW YORK, May 31- A former director at Barclays Plc was arrested on Tuesday on U.S. charges that he provided inside information about impending mergers that he learned about at the bank to a plumber, who used the tips to illegally make $76,000. Steven McClatchey, 58, was charged in a criminal complaint filed in Manhattan federal court with conspiracy, wire fraud and...

  • May 26- The U.S. Virgin Islands sued Takata Corp and Honda Motor Co late on Wednesday over the sale of millions of recalled airbags linked to deadly ruptures. The Virgin Islands suit, seeking civil and other penalties, claims the companies committed fraud, used unfair trade practices and were negligent in allowing the use of the unsafe airbags.

  • NEW YORK, May 23- A New York energy investor has been indicted for engaging in a multiyear scheme to evade paying over $45 million in taxes in connection with the sale of an oil company and the purchase of paintings by European artists, U.S. prosecutors said on Monday. Zukerman& Co, pleaded not guilty at a hearing in federal court in Manhattan to charges that included...

  • NEW YORK, May 23- A U.S. appeals court on Monday threw out a jury's finding that Bank of America Corp was liable for mortgage fraud leading up to the 2008 financial crisis, voiding a $1.27 billion penalty and dealing the U.S. Department of Justice a major setback. The 2nd U.S. Circuit Court of Appeals in New York found insufficient proof under federal fraud statutes to...

  • NEW YORK, May 23- A U.S. appeals court on Monday threw out Bank of America Corp's $1.27 billion penalty in a fraud case over defective mortgages, dealing the U.S. Justice Department a major setback in a lawsuit related to the 2008 financial crisis. The 2nd U.S. Circuit Court of Appeals in New York said the proof at trial was insufficient under federal fraud statutes to...

  • BEIJING, May 20- China's government has approved a plan to clean up the country's online financial sector, according to people with direct knowledge of the matter, including rules to limit the activities of P2P lending firms, the source of recent fraud scandals. The plan, drafted by China's central bank, follows a mid-April video-conference with 14 ministries...

  • May 19- U.S. prosecutors on Thursday accused a former chairman of Dean Foods Co and a Las Vegas gambler of insider trading in a years-long scheme that allegedly generated tens of millions of dollars of illegal profits. Thomas Davis, the former Dean Foods chairman, and William "Billy" Walters each face securities fraud, wire fraud and conspiracy charges.

  • NEW YORK, May 18- The overseer of a $4 billion U.S. Department of Justice fund for victims of Bernard Madoff's Ponzi scheme said he expected to recommend payouts for at least 25,280 claimants with nearly $4 billion in fraud losses. Richard Breeden, special master of the Madoff Victim Fund, said in an update on his website this week that his office was "substantially"...