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Crime Embezzlement

  • NEW YORK, Feb 15- A former employee of a Bank of New York Mellon Corp unit was arrested on Wednesday on charges that he embezzled $7.1 million, which he used to pay for gambling debts and buy an outdoor pool, luxury cars and a gun safe. Christopher Canale, who worked for Bank of New York's Pershing LLC unit, most recently as an accounts payable manager, was charged in a...

  • NEW YORK, Feb 15- A former Bank of New York Mellon Corp employee was arrested on Wednesday on charges that he embezzled $7.1 million, money he used to buy among other things an outdoor pool, home landscaping, vacations and a luxury car. Christopher Canale, who worked for Bank of New York's Pershing LLC unit most recently as an accounts payable manager, was charged in a...

  • GENEVA— Swiss bank Julius Baer says it is facing a claim of 306 million euros for allegedly not preventing the embezzlement of assets from a foreign corporation. The bank said the liquidator of the unspecified corporation has filed the claim in an unspecified European Union country. Julius Baer Group Ltd. has previously cited the liquidator's unspecified...

  • *Milan prosecutor to investigate unit-sources. *Sees slowdown in UK public sector work. In Milan, prosecutors have opened an investigation into BT's Italian unit over alleged false accounting and embezzlement, two sources with knowledge of the matter told Reuters.

  • MILAN, Jan 24- Milan prosecutors have opened an investigation into BT's Italian unit over alleged false accounting and embezzlement, two sources said, hours after the parent company issued a profit warning citing a hole in the firm's accounts. No one has been placed under investigation by the Milan prosecutors for the time being, the sources with knowledge of...

  • NEW YORK, Nov 18- A former JPMorgan Chase& Co executive who spent eight years on the run in Argentina pleaded guilty on Friday to U.S. charges that he embezzled $5.4 million from clients at the bank and at a prior employer, UBS AG. He was extradited in June from Argentina. The 48- year-old citizen of Argentina faces a mandatory-minimum two-year prison sentence and a...

  • Nov 10- College e-learning firm ChinaCast Education Corp said it has filed for Chapter 11 bankruptcy to pursue claims of embezzlement against former executives while shielding itself from a class action lawsuit by investors. Wednesday's filing with the U.S. Bankruptcy Court in New York came a day after a U.S. District Court in Los Angeles awarded ChinaCast...

  • Nov 10- College e-learning firm ChinaCast Education Corp said it has filed for Chapter 11 bankruptcy to pursue claims of embezzlement against former executives while shielding itself from a class action lawsuit by investors. Wednesday's filing with the U.S. Bankruptcy Court in New York came a day after a U.S. District Court in Los Angeles awarded ChinaCast...

  • 1MDB board of advisers to be dissolved

    Malaysia's finance ministry announces its decision to dissolve the board of advisers at 1Malaysia Development Berhad.

  • rita-crundwell-200.jpg

    Federal prosecutors say a horse breeder, who was the comptroller of Dixon, Ill., stole more than $30 million from the town since 2006.

  • It’s not tax time just yet, but it’s looming uncomfortably on the horizon. The conscientious among us have already filed their tax forms or are in the process of doing so. The rest of us hem, haw and put it off until the last minute.Apart from the punctual and the lackadaisical, another category of taxpayer exists: The taxpayer who, for one reason or another, has failed to accurately disclose all of his or her earnings. Sometimes this is a simple mistake. Sometimes it’s the accountant’s fault. S

    Some celebrities, including Lauryn Hill, fell out of good standing with the IRS, and paid dearly for it. Read ahead to see some of the celebrities who just didn’t get that return in on time.

  • golf clubs

    In China, courses such as the 36-hole Qinghe Bay Country Sports Club, located within view of the Olympic Bird’s Nest stadium in Beijing, reflect surging private fortunes. But facilities such as this have also become a potent symbol of the hypocrisy and corruption inherent in Communist party rule. The FT reports.

  • Rail attendants pose with the Chinese high-speed trains at a station in Shanghai on October 26, 2010, prior to the launch of the Shanghai to Hangzhou line. China's latest new high-speed passenger rail line went into service, halving travel time to 45 minutes between Shanghai and the eastern lake city of Hangzhou, officials said. CHINA OUT AFP PHOTO (Photo credit should read STR/AFP/Getty Images)

    China’s high-speed railway system, the largest-ever transportation infrastructure project in history, is presenting opportunities for global investors, says Jerry Lou, China Strategist at Morgan Stanley.

  • Lenny Dykstra

    Lenny Dykstra, an outfielder for the New York Mets and Philadelphia Phillies known by the nickname "Nails," has been indicted for bankruptcy fraud and embezzlement from the bankruptcy estate.

  • Workers assist at a construction site of the Chengdu-Dujiangyan railway.

    Investigators have found evidence that nearly $30 million of funds budgeted for China’s Beijing-Shanghai high-speed rail line was misappropriated last year, in another blow to the country’s scandal-plagued high-speed rail sector. The FT reports.