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Corporate Fraud

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  • Doctor convicted in outbreak to undergo evaluation Monday, 21 Apr 2014 | 1:48 PM ET

    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.

  • 2 ex-Anglo Irish Bank directors convicted of fraud Thursday, 17 Apr 2014 | 10:55 AM ET

    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.

  • Man to plead guilty in Disney insider info case Wednesday, 16 Apr 2014 | 8:47 PM ET

    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..

  • Ex-Madoff aides ask judge to toss convictions Wednesday, 16 Apr 2014 | 1:59 PM ET
    Daniel Bonventre, age 67, who served as Director of Operations for Madoff Investment Securities, leaves federal court after being found guilty of charges of aiding, assisting and profiting from the Ponzi scheme run by Bernard Madoff on March 24, 2014 in New York City.

    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.

  • Former Madoff aides seek to have convictions tossed Wednesday, 16 Apr 2014 | 12:54 PM ET

    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.

  • 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.

  • 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.

  • 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.

  • 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.

  • US Feds open Banamex investigation: Report     Thursday, 3 Apr 2014 | 10:25 AM ET

    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.

  • U.S. Supreme Court could limit bank fraud law Tuesday, 1 Apr 2014 | 2:22 PM ET

    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.

Most Popular Video

Thursday, 24 Apr 2014 | 3:25 AM ET

Mark Hawtin, investment director at GAM, says Apple's share price is "incredibly cheap".

Thursday, 24 Apr 2014 | 1:05 AM ET

Jerry Braakman, chief investment officer at First American Trust, says Apple and Facebook reported "great" results and owning technology stocks is still attractive.

Thursday, 24 Apr 2014 | 12:16 AM ET

Manpreet Gill, Senior Investment Strategist at Standard Chartered Bank, attributes the decline of Japanese shares to the lack of a TPP agreement during U.S. President Barack Obama's visit to Tokyo.