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Corporate Fraud

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  • China's warehouse sector under scrutiny Sunday, 22 Jun 2014 | 7:22 PM ET
    A worker walks in front of a storage area in a logistics center at the Pudong free trade zone in Shanghai, China.

    After an investigation banks and trading houses are aware of the risks of storing commodities in China's warehouse sector.

  • *China's CITIC Resources says unable to secure some metal. SYDNEY/ SHANGHAI June 23- Shaken by a fraud investigation into metal financing in the world's seventh-busiest port, banks and trading houses have been made painfully aware of the risks they face storing commodities in China's sprawling warehouse sector.

  • June 19- A North Carolina judge ruled on Thursday that a Justice Department lawsuit against Bank of America Corp could move forward, allowing the complainant 30 days to file its amended petition. The Department of Justice's lawsuit accuses Bank of America of civil fraud in the sale of mortgage securities that soured during the global financial crisis.

  • June 19- A North Carolina judge ruled on Thursday that a Justice Department lawsuit against Bank of America Corp could move forward, allowing the complainant 30 days to file its amended petition. The Department of Justice's lawsuit accuses Bank of America of civil fraud in the sale of mortgage securities that soured during the global financial crisis.

  • SAN FRANCISCO, June 19- Investors in March fired G. Steven Burrill as the head of a $283 million venture-capital fund he ran, amid alleged fraud and misuse of capital, according to a lawsuit.

  • NEW YORK, June 19- U.S. authorities are probing UBS AG for criminal fraud after a former broker in Puerto Rico allegedly directed clients to improperly borrow money to buy mutual funds that later plunged, according to lawyers representing some of the investors.

  • LONDON, June 14- Britain's Serious Fraud Office is pursuing its investigation of alleged corruption at Alstom as a major transatlantic takeover battle for the French engineering conglomerate reaches a climax, the Financial Times reported on Saturday.

  • HONG KONG/ QINGDAO, China/ SYDNEY, June 13- The trail that led investigators to a suspected metal financing scam at China's Qingdao port which has spooked Western banks and hit global metals prices began with a Communist Party corruption probe 1,000 miles away in the old Silk Road city of Xining.

  • Upcoming ruling could slow class action suits Thursday, 12 Jun 2014 | 9:43 AM ET
    Galveston County Justice Center, Texas

    If the Supreme Court rules in favor of Halliburton and against shareholders, then other businesses will gain, as well.

  • ASHEVILLE, N.C., June 11- A federal judge on Wednesday said he would consider dismissing a U.S. Department of Justice lawsuit accusing Bank of America Corp of civil fraud in the sale of mortgage securities that soured during the global financial crisis.

  • Companies still blasé over cybercrime: EY Wednesday, 11 Jun 2014 | 9:17 AM ET

    International companies remain blasé about the threat of cyberattacks, despite a number of high-profile breaches, according to a survey.

  • Global Fraud Survey results 'troubling': EY     Wednesday, 11 Jun 2014 | 4:45 AM ET

    David Stulb, global forensics leader at EY, discusses the results of the annual Global Fraud Survey and warns that year-on-year improvements are very slow.

  • *Shanghai copper premiums fall $10 to $70- $90- Shmet. SYDNEY, June 11- Zinc in London and Shanghai hit the highest in around 15 months on Wednesday as improving demand met tight supply, while copper premiums fell further in China as traders faced tougher financing conditions in the wake of a fraud investigation.

  • SYDNEY, June 11- London copper inched up on Wednesday from one-month lows touched the session before as more than a week of intensive checks failed to dig up new cases of possible metals financing fraud in China, while Shanghai zinc hit a 15- month top on higher demand.

  • SYDNEY, June 11- London copper inched up on Wednesday from one-month lows touched the session before as more than a week of intensive checks failed to dig up new cases of possible metals financing fraud in China, while Shanghai zinc hit a 15- month top on higher demand.

  • Greisman pleaded guilty to conspiracy, tax evasion and Internal Revenue Service obstruction charges in 2009. Four other BDO partners or employees had also pleaded guilty in the case. BDO USA, as the accounting firm is now known, agreed in June 2012 to pay $50 million to resolve related government claims through a deferred prosecution agreement.

  • SHANGHAI, June 10- China's Qingdao Port Authority and the city's police are investigating a private metals trading firm, Decheng Mining, over a suspected metal financing scam at the port, two police sources with direct knowledge of the matter said.

  • *Says probe may hit metal it owns at China's Qingdao port. HONG KONG June 10- CITIC Resources Holdings Ltd said on Tuesday that metal it owns at Qingdao port may be affected by a probe into suspected fraud, the latest firm caught up in a scandal that has raised broader worries about the risks of metal financing in China.

  • NEW YORK, June 9- Two former vice chairmen of accounting firm BDO Seidman were sentenced to prison on Monday after pleading guilty to engaging in a conspiracy to defraud the United States through the promotion of tax shelters. Charles Bee was sentenced 1-1/ 3 years while Adrian Dicker received 10 months, in separate hearings before U.S.

  • *Iron ore deliveries at Qingdao Port unaffected by probe. QINGDAO/ HONG KONG, China, June 9- China's Qingdao Port has sealed its Dagang bonded metal storage area and suspended delivery of metals from the section, as authorities investigate an alleged fraud into financing of copper, aluminium and alumina, two sources with direct knowledge of the matter said.