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Corporate Fraud

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  • Kentucky leader pleads guilty in kickbacks scheme Wednesday, 27 Aug 2014 | 7:04 AM ET

    About 60 miles away, inside in a federal courtroom Tuesday in Lexington, the elected official who led the reconstruction in Morgan County sobbed as he pleaded guilty to a fraud charge stemming from a kickback scheme.

  • NY investor firm exec charged with insider trading Tuesday, 26 Aug 2014 | 12:25 PM ET

    Michael Lucarelli, 51, was a director at Manhattan- based Lippert/Heilshorn& Associates Inc. when he made the illegal trades over the last year, prosecutors said as they announced 13 securities fraud charges. Lucarelli, wearing a tank top, slacks and sandals, was released on $500,000 bail after an initial appearance in federal court in Manhattan.

  • The 2008 lawsuit against Philip Morris, an Altria Group Inc company, concerns cigarette sales to the Navy Exchange Service Command and the Army and Air Force Exchange Service, both of which operate facilities that sell products to military personnel and their families.

  • James Stewart of The New York Times, discusses his column about Hewlett-Packard's shadowy deal with Autonomy.

  • Aug 20- TV broadcaster Al Jazeera rejected allegations of fraud and breach of contract leveled by Al Gore and Joel Hyatt over their sale of Current TV to the Middle East- based company in 2013..

  • Al Jazeera rejects allegations over Current TV deal Tuesday, 19 Aug 2014 | 6:04 PM ET
    Former Vice President Al Gore addresses Climate Reality Leadership trainees, March 13, 2014, in Johannesburg, South Africa.

    Al Jazeera on Tuesday rejected allegations from Al Gore and Joel Hyatt, saying they were false and potentially misleading.

  • Judge: Mamtek CEO committed $1.3M bond fraud Tuesday, 19 Aug 2014 | 8:38 AM ET

    COLUMBIA, Mo.— The former CEO of Mamtek committed fraud to secure almost $1.3 million from bond funds that were supposed to be used to build an artificial sweetener plant in a central Missouri town, a federal judge ruled in a bankruptcy case.

  • CEO of bankrupt oil company sentenced in scheme Tuesday, 19 Aug 2014 | 4:01 AM ET

    LOUISVILLE, Ky.— The CEO of a bankrupt southern Kentucky oil company was sentenced Tuesday to nearly three years in prison for scamming investors into giving him money for three oil partnerships in Kentucky and Tennessee. Young Oil executive Anthony L. Young of Knob Lick did not speak during the 30- minute hearing in U.S. District Court in Louisville.

  • LONDON, Aug 14- Britain's fraud prosecutor could decide as soon as next month whether to charge former Barclays executives over undisclosed payments the bank made to Qatari investors in 2008, three sources familiar with the investigation said.

  • Attorney Melinda Haag announced that Alfred J. Villalobos, a former member of the board of the California Public Employee Retirement System who later worked as a placement agent, engaged in a conspiracy to commit corruption, defraud the United States, conceal materials, and conspire to commit mail and wire fraud.

  • NEW YORK,- A Manhattan federal judge on Thursday said the U.S. Department of Justice may pursue most of its lawsuit accusing Novartis AG of civil fraud for allegedly using kickbacks to boost sales of drugs covered by Medicare and Medicaid.

  • NEW YORK, Aug 7- A Manhattan federal judge on Thursday said the U.S. Department of Justice may pursue most of its lawsuit accusing Novartis AG of civil fraud for allegedly using kickbacks to boost sales of drugs covered by Medicare and Medicaid.

  • SHANGHAI, Aug 7- Chinese police are investigating the death from unnatural causes of the deputy commissioner of customs at Qingdao port which is under investigation for alleged commodity financing fraud, state news agency Xinhua said on Thursday. Qingdao police declined to comment, adding that investigations are ongoing.

  • Wylys' lawyer calls U.S. SEC $750 mln claim 'overblown' Wednesday, 6 Aug 2014 | 5:52 PM ET

    NEW YORK, Aug 6- A lawyer for Texas businessman Sam Wyly and his late brother Charles on Wednesday urged a U.S. judge to reject the Securities and Exchange Commission's request for as much as $750 million in damages for their role in a fraudulent offshore scheme.

  • NEW YORK, Aug 5- A U.S. judge on Tuesday reluctantly approved a $285 fraud settlement between Citigroup Inc and the U.S. Securities and Exchange Commission, two months after an appeals court voided his decision to reject it as inadequate. But he said he feared the 2nd U.S. Circuit Court of Appeals' decision would rob such settlements of any "meaningful oversight."

  • NEW YORK, Aug 4- Texas tycoon Sam Wyly and his late brother Charles' estate should pay about $750 million in damages for their role in a fraudulent offshore tax scheme, a lawyer for the U.S. Securities and Exchange Commission told a judge in New York on Monday.

  • Lawsuits over an estimated $900 million exposure to a suspected metal financing fraud in China are hindering a recovery in metal trade.

  • HONG KONG/ SHANGHAI, Aug 4- As global banks and trading houses fire off lawsuits over their estimated $900 million exposure to a suspected metal financing fraud in China, the tangled legal battle to recoup losses is set to drag on for years and hinder a swift recovery in metal trade.

  • LONDON, July 31- Britain's Serious Fraud Office has averted a 300 million-pound damages claim over its botched investigation into the Tchenguiz brothers, securing a second out-of-court settlement and closing an embarrassing chapter in its history.

  • LONDON, July 31- Britain's Serious Fraud Office on Thursday drew a line under one of its most embarrassing and damaging episodes by reaching a second out-of-court settlement over a botched investigation that led to the arrests of two property moguls.