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Crime Corporate Fraud

  • NEW YORK, Feb 23- A former Valeant Pharmaceuticals International Inc executive and the former chief executive of mail order pharmacy Philidor Rx Services pleaded not guilty on Thursday to charges they orchestrated a multi-million dollar fraud and kickback scheme. Federal prosecutors accused Gary Tanner, who was a senior director at Canadian drugmaker...

  • NEW YORK, Feb 23- L3 Technologies Inc said on Thursday it reached a $34.5 million settlement of a lawsuit by shareholders who accused the defense contractor of accounting fraud in its aerospace systems business. Shareholders led by two Michigan pension plans accused L3 of hiding improprieties, including those raised by an internal management-level...

  • NEW YORK, Feb 23- The former chief executive officer of Comverse Technology Inc, who returned to the United States last year after spending a decade in Namibia to avoid prosecution, is scheduled to be sentenced on Thursday for engaging in securities fraud. Jacob "Kobi" Alexander, the Woodbury, New York- based software developer's founder, is expected to be sentenced...

  • South Korean treasurer went missing on Feb. 7. ZURICH, Feb 22- Swiss engineering group ABB on Wednesday said it fell victim to a "sophisticated criminal scheme" at its South Korean subsidiary, with the chief suspect an executive responsible for ethics training. The executive, named by a source in South Korea as Oh Myeong-se, was treasurer and one of two integrity...

  • Swiss engineering group ABB fell victim to a "sophisticated criminal scheme" at its South Korean subsidiary.

  • District Judge Kevin Castel in Manhattan to forfeit $19.04 million, after pleading guilty last summer to securities fraud and conspiracy charges. Both sentencings came after Jason Galanis, a former Los Angeles investment banker once dubbed "Porn's New King," was sentenced to 135 months in prison by Castel on Wednesday. David Touger, a lawyer for John Galanis,...

  • *Austria accuses Airbus of wilful deception, fraud. *Austria sees potential damages of up to 1.1 bln euros. VIENNA, Feb 16- Austria sued Airbus and the Eurofighter consortium on Thursday, alleging wilful deception and fraud linked to a near 2 billion euro jet order in 2003..

  • *Austria accuses Airbus of wilful deception, fraud. VIENNA, Feb 16- Austria filed a lawsuit on Thursday against Airbus and the Eurofighter consortium, alleging wilful deception and fraud linked to a 2 billion euro order for Eurofighter jets in 2003, the defence ministry said. The ministry said that following an investigation it believed Airbus and Eurofighter...

  • Feb 15- U.S. prosecutors have subpoenaed one of the women who claims she was sexually harassed by former Fox News chairman Roger Ailes, and compelled her to testify before a federal grand jury, her lawyer said on Wednesday. New York City lawyer Judd Burstein said his client had received the subpoena on Monday from the securities fraud unit of the U.S.

  • Feb 15- U.S. prosecutors have subpoenaed one of the women who claims she was sexually harassed by former Fox News chairman Roger Ailes, and compelled her to testify before a federal grand jury, her lawyer said on Wednesday. New York City lawyer Judd Burstein said his client had received the subpoena on Monday from the securities fraud unit of the U.S.

  • Feb 15- A former Los Angeles investment banker was sentenced to more than 11 years in prison by a federal judge on Wednesday for his role in a stock manipulation scheme, resolving one of two criminal cases facing the man once dubbed "Porn's New King." Jason Galanis, 46, admitted last year to securities fraud, investment adviser fraud and two conspiracy charges in...

  • *Hong Kong stocks pumped and dumped by cyber hackers. HONG KONG, Feb 15- Hong Kong police are struggling to deal with digital pump-and-dump schemes targeting brokerages- a little-known type of computer-generated fraud that surged in the Chinese territory last year. At least seven brokers and eight banks have been targeted in Hong Kong, including HSBC Holdings...

  • Feb 10- Maurice "Hank" Greenberg, the former American International Group Inc chief executive, has reached a settlement that ends his 12- year battle with the New York attorney general's office, which accused him of orchestrating sham transactions at the insurer. Greenberg has finally admitted to his role in these fraudulent transactions, " New York Attorney...

  • Feb 10- Former American International Group Inc Chief Executive Maurice "Hank" Greenberg admitted to his involvement in two fraudulent reinsurance deals as part of a settlement of an accounting fraud lawsuit, New York Attorney General Eric Schneiderman said on Friday. The lawsuit was brought in 2005 after AIG said it had engaged in certain improper...

  • WASHINGTON, Feb 10- The U.S. Securities and Exchange Commission said on Friday it had filed civil securities fraud charges against five Chinese citizens for alleged insider trading ahead of the April 2016 acquisition of DreamWorks Animation SKG Inc by Comcast Corp.. The SEC said in a statement it had also won a court order freezing brokerage accounts holding...

  • WASHINGTON, Feb 7- Japan's Takata Corp is set to plead guilty Feb. 27 in federal court in Detroit to a single felony count of wire fraud to resolve a U.S. Justice Department investigation into ruptures of its air bag inflators linked to at least 16 deaths worldwide, according to a court filing Tuesday. Takata has agreed to pay a $25 million fine, $125 million in a victim...

  • *Review follows evidence raised in $303 mln fraud case. LONDON, Feb 7- Lloyds Banking Group is to review the cases of British businesses which lost out in a 245 million pound fraud for which six people were jailed last week. The fraud involved two former bankers of HBOS, once Britain's biggest mortgage lender, which was rescued in a state-engineered takeover by...

  • SAO PAULO, Feb 6- Brazilian federal prosecutors asked a court on Monday to reimpose preventive measures against two key suspects in a corruption probe dubbed Operation Greenfield, which is investigating fraud at state-run companies' pension funds. According to the prosecutors' statement, defendants Joesley Batista, from the family that controls meatpacker...

  • SAO PAULO, Feb 6- Federal prosecutors asked a court on Monday to re-impose preventive measures against two key suspects in a corruption probe dubbed Operation Greenfield, which is investigating fraud at state-run companies' pension funds. According to the prosecutors' statement, defendants Joesley Batista, from the family that controls meatpacker JBS SA, and...

  • NEW YORK, Feb 6- Two men were sentenced to lengthy U.S. prison terms on Monday for conspiring to launder $250 million earned by manipulating shares of over 40 companies, including little-known Cynk Technology Corp, whose value soared past $6 billion. Glasser imposed a six-year prison sentence on Robert Bandfield, a U.S. citizen living in Belize who prosecutors...