Crime Corporate Fraud

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  • Dec 7- A federal appeals court on Monday upheld a decision rejecting claims of fraud by Harbinger Capital Partners, the equity owner of bankrupt wireless venture LightSquared, against Deere& Co and other GPS firms. Hedge fund Harbinger had accused Deere, Garmin International, Trimble Navigation Ltd, and a GPS industry group of misleading LightSquared about...

  • NEW YORK, Dec 7- The former chairman of U.S. law firm Dewey& LeBoeuf is nearing a deal with New York prosecutors to avert a retrial on fraud charges stemming from the firm's collapse, and prosecutors have extended plea offers to three other defendants. A potential deferred prosecution agreement for Dewey leader Steven Davis was confirmed by his lawyer after a...

  • Dec 7- A federal appeals court on Monday upheld a decision rejecting claims of fraud by bankrupt wireless venture LightSquared and its equity owner Harbinger Capital Partners against Deere& Co and other GPS firms. Hedge fund Harbinger had accused Deere, Garmin International, Trimble Navigation Ltd, and a GPS industry group of misleading LightSquared about...

  • We like to short 'frauds' in China: Muddy Waters Friday, 4 Dec 2015 | 4:40 AM ET
    We like to short 'frauds' in China: Muddy Waters

    Carson Block, director of research and founder at Muddy Waters, discusses his company’s activities in China.

  • Dec 1- Two bitcoin mining companies and their founder used the lure of quick riches from virtual currency to defraud investors in a $20 million Ponzi scheme, the U.S. Securities and Exchange Commission said on Tuesday. The commission charged GAW Miners LLC, ZenMiner LLC and founder Homero Garza with civil fraud, according to a complaint filed in the U.S. District...

  • *Standard Bank's London arm faces penalties of $32.2 mln. LONDON, Nov 30- A judge approved Britain's first deferred prosecution agreement, a new type of plea deal, on Monday in a case centered on $6 million in bribes paid to Tanzanian officials by the Tanzanian unit of South Africa's Standard Bank. Under the deal with the Serious Fraud Office, the London arm of...

  • *No showing that Herbalife intended to defraud. *William Ackman made $1 billion bet against Herbalife. The lawsuit is separate from the campaign against Herbalife by billionaire activist investor William Ackman of Pershing Square Capital Management LP, who in December 2012 announced a $1 billion bet against the Los Angeles- based company.

  • NEW YORK, Nov 23- A former technology chief executive facing extradition from Colombia to the United States to face securities fraud charges has been moved to a new detention facility after a U.S. federal judge criticized a Bogota prison's conditions as "intolerable." In a letter filed in federal court on Monday, U.S. prosecutors said that Kaleil Isaza Tuzman, the...

  • Nov 20- A Manhattan federal judge on Friday berated U.S. prosecutors for opposing the efforts of a U.S. citizen to leave the Colombian prison where he is currently incarcerated and return immediately to New York to face securities fraud charges. Tuzman was arrested in Colombia in September at the request of U.S. authorities, who are seeking his extradition on the...

  • Nov 17- A California woman pleaded guilty on Tuesday to participating in a conspiracy to steal 94,000 credit and debit card numbers from Michaels Companies Inc customers in a massive, nationwide breach at the U.S. arts and crafts retailer. Crystal Banuelos, 28, pleaded guilty in federal court in Camden, New Jersey, to charges of conspiracy to commit bank fraud and...

  • Nov 17- The U.S. Securities and Exchange Commission charged Jammin Java former CEO in connection with a $78 million pump-and-dump scheme involving the stock of the company that operates as Marley Coffee and uses trademarks of reggae legend Bob Marley. The SEC said Jammin Java's former Chief Executive Shane Whittle, who gained control of millions of Jammin...

  • Nov 17- The U.S. Securities and Exchange Commission charged Jammin Java former CEO in connection with a $78 million pump-and-dump scheme involving the stock of the company that operates as Marley Coffee and uses trademarks of reggae legend Bob Marley. The SEC said Jammin Java's former Chief Executive Shane Whittle, who gained control of millions of Jammin...

  • LONDON, Nov 13- Three of the traders accused of manipulating euro money market Euribor rates by Britain's Serious Fraud Office on Friday were part of a group that helped the European Central Bank shape its response to the financial crisis, ECB documents show. The documents on the ECB website show that former Barclays euro money market desk head Colin Bermingham...

  • Vipshop's numbers don't add up: Fichthorn Friday, 13 Nov 2015 | 12:30 PM ET
    Vipshop's numbers don't add up: Fichthorn

    Vipshop pre-reported ugly earnings, and the stock fell 26 percent. John Fichthorn, Dialectic Capital co-founder and portfolio manager, discusses Vipshop Holdings' accounting.

  • District Judge Michael Shipp in Trenton, New Jersey. Metro, 41, of Katonah, New York, was accused of having from 2009 to 2013 passed tips about mergers and other transactions involving Simpson Thacher clients to his friend and law school classmate Frank Tamayo, 42, a Brooklyn mortgage broker. Prosecutors said Tamayo would then go to the four-faced clock in Grand...

  • *JPMorgan hacking compromised 83 million accounts. *E* Trade, Fidelity, News Corp, TD Ameritrade also targeted. NEW YORK, Nov 10- U.S. prosecutors on Tuesday unveiled criminal charges accusing three men of running a sprawling array of hacking and fraud schemes, including a huge 2014 attack against JPMorgan Chase& Co, that generated hundreds of millions of dollars of...

  • NEW YORK, Nov 10- U.S. prosecutors on Tuesday unveiled criminal charges accusing three men of helping run a sprawling series of hacking and fraud schemes, including a huge 2014 attack against JPMorgan Chase& Co, that generated hundreds of millions of dollars of illegal profit. Tuesday's charges are the first tied to the JPMorgan attack, which compromised...

  • LONDON, Nov 10- Britain's Serious Fraud Office said on Tuesday it had ended a two-year case against Japanese endoscope maker Olympus Corp after a London court ruled that misleading auditors was not a criminal offence under English law. The SFO, which charged Olympus and its British medical equipment subsidiary Gyrus in September 2013 for misleading an...

  • NEW YORK, Nov 6- A near century-old statute that gives New York state prosecutors unusually broad authority to prosecute securities fraud could prove a powerful weapon as Attorney General Eric Schneiderman probes Exxon Mobil Corp over whether the oil firm mislead the public and shareholders about the perils of climate change. The 1921 Martin Act, a...

  • Nov 6- The former chief executive of TierOne Bank, a publicly traded lender in Lincoln, Nebraska that failed in June 2010, was convicted on Friday for concealing loan and real estate losses during and after the financial crisis, the U.S. Department of Justice said. A federal jury in Lincoln found Gilbert Lundstrom, 74, guilty on 12 of the 13 counts he faced, including...