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Corporate Fraud

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  • Former Anglo Irish Bank chairman cleared of fraud Wednesday, 16 Apr 2014 | 12:50 PM ET

    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.

  • Former Rothstein CFO charged in $1.2B Ponzi scheme Wednesday, 16 Apr 2014 | 11:37 AM ET

    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.

  • Miss. man indicted in $9 million bankruptcy fraud Friday, 11 Apr 2014 | 12:50 PM ET

    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.

  • AP Top Financial News At 7:39 p.m. EDT Thursday, 10 Apr 2014 | 12:56 PM ET

    Investors flee tech stocks again, pummeling Nasdaq NY judge sentences SAC Capital in $1.8 B fraud deal US budget deficit falls in March to $37 billion GM puts 2 engineers on paid leave in recall case GM making a new repair in recalled cars US Internet ad revenue surpasses broadcast Putin: Ukraine debt threatens Europe gas supplies Bezos offers update on groceries, drones Applications for US jobless aid dip 32 K to 300,000 Shorter red snapper season ahead for Gulf Coast

  • AP Top Extended Financial Headlines At 7:39 p.m. EDT Thursday, 10 Apr 2014 | 12:56 PM ET

    Stocks drop as investors dump biotech, other former favorites; Nasdaq has worst day since 2011 NY judge sentences SAC Capital according to terms of government's record $1.8 B fraud deal US budget deficit falls in March from same month last year as revenue rises, spending dips GM puts 2 engineers on paid leave in ignition switch case, adds second part to huge recall GM says another part needs repair in recalled small cars, as recall costs climb to $1.3 B Report: US Internet ad revenue surpasses broadcast TV for the first time Putin warns European leaders: Gas dispute with Ukraine can threaten their own energy supplies Amazon CEO Jeff Bezos gives update on online retailer's drone, grocery programs Lowest number of Americans seeking jobless benefits in almost 7 years, declines 32 K to 300,000 11- day red snapper season for recreation, charter boats in the Gulf of Mexico

  • 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.

  • At a glance: How to avoid tax refund fraud Thursday, 10 Apr 2014 | 12:34 PM ET

    As the April 15 tax filing deadline approaches, tax refund fraud is a growing problem. —Don't carry your Social Security card or documents that show your Social Security number or Individual Taxpayer Identification Number. —Don't give a business your Social Security number just because someone asks.

  • AP Top Financial News At 12:47 p.m. EDT Thursday, 10 Apr 2014 | 8:21 AM ET

    Stocks take another tumble; eBay heads lower GM puts 2 engineers on paid leave in recall case Putin warns Europe about Ukraine gas debt Applications for US jobless aid dip 32 K to 300,000 NY judge sentences SAC Capital in $1.8 B fraud deal Dieters move past calories, food makers follow Average US 30- year mortgage rate down to 4.34 pct. Family Dollar to cut jobs, close about 370 stores Ally shares slide in first-day trading EBay, Icahn settle proxy fight

  • AP Top Extended Financial Headlines At 12:47 p.m. EDT Thursday, 10 Apr 2014 | 8:21 AM ET

    Stocks slide on Wall Street; Volatile biotechnology sector takes another plunge; eBay down General Motors puts 2 engineers on paid leave in ignition switch recall case Putin warns European leaders: Gas dispute with Ukraine can threaten their own energy supplies Lowest number of Americans seeking jobless benefits in almost 7 years, declines 32 K to 300,000 NY judge sentences SAC Capital according to terms of government's record $1.8 B fraud deal Americans look past calories as approach to dieting evolves; major brands feel sales slide Average US rate on 30- year mortgage falls to 4.34 pct.; 15- year loan eases to 3.38 pct. Family Dollar to cut jobs, close about 370 stores as it tries to improve financial performance Banker and auto lender Ally holds largest IPO of the year but shares drop in midday trading EBay, Icahn settle proxy fight; Icahn withdraws proposal that PayPal be spun off from eBay

  • Dozens arrested in credit card fraud crackdown Thursday, 10 Apr 2014 | 7:49 AM ET

    THE HAGUE, Netherlands— Law enforcement authorities have arrested 70 people at airports around the world in a meticulously coordinated crackdown targeting criminals using fake or stolen credit cards to buy airline tickets.

  • US judge sentences SAC Capital in $1.8B fraud deal Thursday, 10 Apr 2014 | 3:03 AM ET

    NEW YORK— The once high-flying hedge fund SAC Capital was sentenced on criminal fraud charges Thursday under a $1.8 billion deal that prosecutors say included the largest criminal fine ever imposed in an insider trading case.

  • Eye doctor billed over $20 million to Medicare     Wednesday, 9 Apr 2014 | 11:51 AM ET

    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.

  • Ex-Anglo Irish bankers have some charges dropped Wednesday, 9 Apr 2014 | 8:58 AM ET

    DUBLIN— A judge has dismissed 13 fraud charges against two former executives of Anglo Irish Bank, the reckless lender that drove Ireland to the brink of national bankruptcy, as authorities continue to seek criminal convictions against directors of the ruined company.

  • 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.

  • U.S. wants one trial in $5 bln fraud case vs S&P Tuesday, 8 Apr 2014 | 11:10 AM ET

    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.

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