NEW YORK, Dec 10- During three decades of working for Bernard Madoff, Frank DiPascali said knew his boss was running an illegal scheme.» Read More
NEW YORK, Dec 5- A U.S. judge is considering an alternative that could result in Bank of America Corp paying much less than the $863.6 million the government is seeking as a penalty for the sale of defective mortgages before the financial crisis.
By Joe Brock and Tim Cocks. ABUJA/ LAGOS, Dec 5- Nigeria's drive to clean up a gasoline subsidy scheme that soaks up a fifth of federal spending is mired in confusion, with the government, anti-graft investigators and fuel importers at odds over attempts to root out massive fraud.
MIAMI-- A South Florida attorney has been convicted for his role in an $800 million insurance fraud scheme involving investments in death benefits. A jury on Wednesday convicted 64- year-old Anthony Livoti Jr. of money laundering and fraud conspiracy in the Mutual Benefits Corp. case. Company co-founder Joel Steinger is set for trial in April.
WASHINGTON, Dec 4- The U.S. Justice Department plans to bring civil mortgage fraud cases against several financial institutions early in 2014, using as a template the case that ended last month in JPMorgan Chase& Co's $13 billion settlement, U.S.
NEW YORK, Dec 2- Bernard Madoff's longtime lieutenant testified on Monday that several former colleagues were deeply enmeshed in Madoff's decades-long Ponzi scheme, using everything from fake trades to a refrigerator to hide the truth about the fraud.
CNBC's Scott Cohn reports new details on just how far Bernard Madoff went to hide his investment fraud.
The settlements end a federal fraud lawsuit begun in February 2008 by the Humane Society of the United States, which had obtained a video that appeared to show inhumane cattle treatment and improper inspections of sick cattle at a Chino, California, plant run by Westland Meat Co. and Hallmark Meat Co..
NEW YORK, Nov 26- An attorney for Chevron Corp on Tuesday accused U.S. lawyer Steven Donziger of orchestrating an international criminal conspiracy by using bribery and fraud in Ecuador to secure a multibillion-dollar pollution judgment against the oil company.
The Securities and Exchange Commission's case, filed with the agency's administrative court, also alleges that Ambassador Capital Management and portfolio manager Derek Oglesby failed to comply with the cornerstone federal regulations that limit risk in a money market fund's portfolio.
NEW YORK, Nov 22- The U.S. government on Friday sought permission to add a Wells Fargo& Co executive, Kurt Lofrano, as a defendant in its year-old lawsuit accusing the bank of fraud.
LONDON, Nov 21- A second brother-in-law of Mukhtar Ablyazov, a Kazakh oligarch held in France and awaiting extradition on fraud charges, been sentenced to jail in Britain for contempt of court. On Thursday, the High Court in London sentenced his brother-in-law Salim Shalabayev to 22 months in jail in absentia for consistently failing to comply with court orders.
NEW YORK, Nov 21- Bank of America Corp urged a U.S. federal judge to impose no penalty even after a jury found it liable for fraud over the sale of defective mortgages by its Countrywide Financial unit.
A Federal judge on Monday ruled that Anthony J. Lupas, a Pennsylvania Alzheimer's sufferer and accused Ponzi king, does not have the mental capacity to stand trial for 31 counts of fraud and conspiracy.
WASHINGTON, Nov 20- A bipartisan group of U.S. House and Senate members is seeking to make it easier for investment fraud victims to seek compensation, after investors in Allen Stanford's Ponzi scheme were deemed ineligible under current law to file claims.
Nov 19- A former trader was sentenced to 2 1/ 2 years in prison on Tuesday for an unauthorized purchase of about $1 billion in Apple Inc stock that eventually led to the demise of financial services firm Rochdale Securities. As a result, the firm eventually collapsed, the SEC said.
NEW YORK, Nov 18- Prosecutors on Monday accused "Real Housewives of New Jersey" stars Teresa and Joe Giudice of lying eight years ago when they claimed on loan applications that Teresa was a realtor, not a housewife. A federal grand jury in Newark, New Jersey, added two new counts to the long list of fraud charges against the husband and wife, prosecutors said.
NEW YORK, Nov 18- Prosecutors on Monday accused "Real Housewives of New Jersey" stars Teresa and Joe Giudice of lying eight years ago about whether Teresa was really a housewife. A federal grand jury in Newark, New Jersey, added two new counts to the long list of fraud charges against the husband and wife, prosecutors said.
NEW YORK, Nov 18- Thousands of victims of Bernard Madoff's fraud, including many who have so far recovered nothing, may start pursuing an additional $2.35 billion to cover some of their losses, U.S. It is being held in a Madoff Victim Fund and overseen by special master Richard Breeden, a former U.S.
WASHINGTON, Nov 15- The U.S. Supreme Court, which has in recent years issued many rulings favorable to businesses, on Friday agreed to revisit a 1988 decision that made it much easier for shareholders to sue companies for alleged securities fraud.
Securities brokers who think California's court system offers an easy path for erasing details from their public records may want to think again.