Corporate Fraud
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WASHINGTON, April 4- The U.S. Justice Department is again testing the reach of a once-dormant civil fraud law, applying it to money laundering after reviving it recently for cases tied to the financial crisis. In November, the Justice Department brought its first money-laundering case using FIRREA, in a lawsuit against the First Bank of Delaware.
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WASHINGTON, April 4- The U.S. Justice Department is again testing the reach of a once-dormant civil fraud law, applying it to money laundering after reviving it recently for cases tied to the financial crisis. In November, the Justice Department brought its first money-laundering case using FIRREA, in a lawsuit against the First Bank of Delaware.
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NEW YORK, April 3- Ex-Goldman Sachs Group Inc trader Matthew M. Taylor pleaded guilty on Wednesday to defrauding the Wall Street bank with an unauthorized $8.3 billion futures trade in 2007, saying he exceeded internal risk limits and lied to supervisors to cover up his activities.
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CNBC's Scott Cohn reports the former Enron CEO may be working on an agreement to leave prison earlier than expected. And Sherron Watkins, former Enron whistleblower, reacts to the news Skilling may strike a deal.
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In an exclusive report, CNBC's Scott Cohn has learned the former CEO of Enron may be getting out of prison much earlier than expected.
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Under the terms of a possible agreement, Jeffrey Skilling could be getting out of prison much earlier than expected, reports CNBC's Scott Cohn. (4:29)
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SAN FRANCISCO, April 3- A U.S. judge has rejected efforts by Chevron Corp to secure documents from a California environmental advocacy group in a fraud case related to a $19 billion award for rainforest pollution in Ecuador.
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NEW YORK, April 3- Ex-Goldman Sachs Group Inc trader Matthew M. Taylor pleaded guilty on Wednesday to defrauding the Wall Street bank with an unauthorized $8.3 billion futures trade in 2007, saying he exceeded internal risk limits and lied to supervisors to cover up his activities.
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NEW YORK, April 2- A New York state appeals court on Tuesday cleared the way for bond insurer MBIA Inc to pursue a fraud lawsuit against Bank of America Corp over toxic mortgage securities. A panel of New York's Appellate Division said MBIA did not need to wait for loans to go into default before it could force Bank of America to buy them back.
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NEW YORK, March 27- Deutsche Bank AG lost a bid Wednesday to end a shareholder lawsuit accusing it of misrepresenting the risk of packaging home loans into complex financial products. "Plaintiffs have certainly set forth sufficient plausible allegations to support a claim for a fraudulent scheme against Deutsche Bank," Forrest wrote.
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March 26- U.S. prosecutors are examining whether JPMorgan Chase& Co fully alerted authorities to suspicions about fraudster Bernard Madoff, the New York Times reported, citing several people with direct knowledge of the matter.
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March 26- SinoTech Energy Ltd and three banks that underwrote its initial public offering have agreed to pay $20 million to settle a shareholder lawsuit accusing the Chinese oilfield services company of defrauding investors.
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March 26- SinoTech Energy Ltd and three banks that underwrote its initial public offering have agreed to pay $20 million to settle a shareholder lawsuit accusing the Chinese oilfield services company of defrauding investors.
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March 26- SinoTech Energy Ltd and three banks that underwrote its initial public offering have agreed to pay $20 million to settle a shareholder lawsuit accusing the Chinese oilfield services company of defrauding investors.
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*Rengan Rajaratnam charged with fraud, conspiracy. NEW YORK, March 25- Rengan Rajaratnam, the younger brother of imprisoned hedge fund manager Raj Rajaratnam, on Monday pleaded not guilty to insider trading charges.
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March 25- Pitney Bowes Inc has won the dismissal of a securities fraud lawsuit accusing it of misleading investors by not disclosing problems in its businesses that in 2007 caused it to miss financial projections for the first time in seven years.
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March 25- Pitney Bowes Inc has won the dismissal of a securities fraud lawsuit accusing it of misleading investors by not disclosing problems in its businesses that in 2007 caused it to miss financial projections for the first time in seven years. District Judge Vanessa Bryant in Hartford, Connecticut,.
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March 22- Cisco Systems Inc must pay $70 million in damages to patent licenser XpertUniverse Inc for fraudulently obtaining technology developed by the New York company, a jury found on Friday, according to court filings. The jury also found that Cisco violated two XpertUniverse patents, and awarded an additional $34,000 in damages on those claims.
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March 22- Cisco Systems Inc must pay $70 million in damages to patent licenser XpertUniverse Inc for fraudulently obtaining technology developed by the New York company, a jury found on Friday, according to court filings. The jury also found that Cisco violated two XpertUniverse patents, and awarded an additional $34,000 in damages on those claims.
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March 22- Kinross Gold Corp:. *Fails to win dismissal of U.S. shareholder securities fraud lawsuit over. development of mauritania mine-- court ruling.
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*Rengan Rajaratnam charged with fraud, conspiracy* Older brother serving 11- year prison term By Nate Raymond. Prosecutors said Rengan Rajaratnam, 42, conspired with his older brother to trade on non-public information concerning Clearwire Corp and Advanced Micro Devices Inc in 2008..