NEW YORK, April 23- Texas businessman Sam Wyly told jurors on Wednesday he relied on the advice of his former lawyer in determining whether he needed to disclose stock holdings in offshore trusts at the center of a fraud case brought by the U.S. Securities and Exchange Commission.» Read More
LAS VEGAS— A former Nevada doctor at the center of a 2007 hepatitis C outbreak has been ordered into federal custody for a mental evaluation. U.S. Senior District Judge Larry Hicks signed the order last week to determine if Dipak Desai is mentally competent to accept a plea deal on federal health care fraud charges.
DUBLIN— Two former executives of Anglo Irish Bank were found guilty Thursday of committing fraud in a loans-for-shares scandal— the first convictions to stem from a banking crisis that brought Ireland to the brink of national bankruptcy.
LOS ANGELES— A man will plead guilty to securities fraud and pay regulators around $801,000 for using insider information to profit from Disney's $4 billion acquisition of Marvel Entertainment in 2009..
Five former Bernard Madoff aides have asked a US judge to throw out their convictions, after a jury found them guilty of fraud and conspiracy.
NEW YORK, April 16- Five former Bernard Madoff aides have asked a federal judge to throw out their convictions, three weeks after a jury found them guilty of fraud and conspiracy for helping Madoff conceal his multibillion-dollar Ponzi scheme.
LONDON— A jury Wednesday cleared former Anglo Irish Bank chairman Sean FitzPatrick of all fraud charges related to a loans-for-shares scheme that preceded the bank's 2009 collapse.
FORT LAUDERDALE, Fla.— The former chief financial officer of convicted Ponzi schemer Scott Rothstein's law firm has been charged with conspiracy in the $1.2 billion fraud. South Florida federal prosecutors filed a court document Wednesday charging Irene Shannon in the case.
District Judge David Carter in Santa Ana, California, nonetheless gave S&P, a unit of McGraw Hill Financial Inc, access to evidence that the lawsuit may have been in retaliation for the agency's Aug. 5, 2011 decision to lower the U.S. credit rating to "AA-plus" from "triple-A."
April 14- Within hours of the U.S. government's unprecedented release last week of a trove of Medicare billing data, a small fraternity of lawyers who specialize in representing whistleblowers in healthcare fraud cases began to mobilize.
JACKSON, Miss.— A Jackson man was indicted Wednesday on charges that he defrauded his bankrupt business of more than $9 million. William "Butch" Dickson faces charges in U.S. District Court in Jackson.
WASHINGTON, April 10- Three men have been indicted on charges that they defrauded a federal telephone subsidy for low-income Americans of $32 million, the first such criminal prosecution in the Lifeline program, the Justice Department said on Thursday.
WASHINGTON, April 10- Three men have been indicted on charges that they bilked $32 million from a federal program that subsidizes cell phones for poor Americans, the first such criminal fraud prosecution in the Lifeline program, the Justice Department said on Thursday.
To resolve criminal and civil probes into insider trading, SAC Capital has agreed to pay more than $1.8 billion in total. SAC Capital also agreed to be placed on probation for five years, and employ a compliance consultant, former federal prosecutor Bart Schwartz.
CNBC's Scott Cohn reports on new data released from Medicare on fraud. One eye doctor in West Palm Beach billed more than $20 million to Medicare in 2012. The doctor, Salomon Melgen, says he didn't do anything wrong.
ALBANY, N.Y., April 8- New York's highest state court has ruled that a lawsuit by the Algosaibi family conglomerate, claiming that a Saudi billionaire who married into the family committed a $150 million fraud, should be heard in Saudi Arabia.
The SEC, which announced the settlement on Tuesday, said CVS failed while marketing a $1.5 billion bond offering in September 2009 to disclose having recently lost significant Medicare and contract revenue streams in its pharmacy benefits manager business, including from the former Caremark Rx Inc that it bought in March 2007.
Last month, S&P proposed holding two trials, with the first focused on just 17 securities out of the roughly 160 at issue, where Citigroup Inc was alleged to have suffered losses.
CNBC's Michelle Caruso-Cabrera reports Federal authorities have opened a criminal investigation into a recent $400 million fraud involving Citi's Banamex.
April 3- Federal authorities have opened an investigation into a $400 million fraud involving Citigroup's Mexican unit, the New York Times reported, citing people briefed on the matter.
WASHINGTON, April 1- The U.S. Supreme Court on Tuesday appeared poised to limit the scope of a federal criminal law that targets people who defraud banks.